Rimas Entertainment, home to Bad Bunny and the No. 1 label on Billboard‘s 2024 year-end Top Independent Labels chart, has acquired a “significant” stake in Dale Play Records, the maverick Argentine label that’s home to DJ Bizarrap, Rels B and rapper Duki, Billboard can reveal.
The partnership includes Sony Music Latin Iberia, which continues to own a stake in the label. Helping bring the deal to fruition were Rob Stringer, Sony Music Group chairman and Sony Music Entertainment CEO; Afo Verde, chairman/CEO of Sony Music Latin America, Spain and Portugal; and Brad Navin and Jason Pascal of The Orchard.
Fede Lauria, the Argentine executive who founded Dale Play out of Argentina and grew the label to its current stature, will retain a smaller percentage of the company and continue as CEO. The Orchard will also continue to distribute Dale Play as it has for years. The company’s other business verticals, which include booking and management — including the management of Duki, Nicki Nicole and Bizarrap — are not part of the deal and will remain solely under Lauria.
The partnership brings together two indie companies that have redefined the way Latin music is made and promoted on a global scale, with both developing and capitalizing on a new wave of urban music in Spanish — one centered in Puerto Rico (Rimas) and the other in Argentina (Dale Play) — with international ambitions. Rimas has already expanded its roster beyond Puerto Rico, signing Spain’s Quevedo and Mexico’s Latin Mafia.
“From day one, our mission has been to support and develop artists with authenticity and respect for their identity,” said Rimas Entertainment CEO Noah Assad in a statement. “With Federico and Dale Play, we’ve built a relationship founded on trust and mutual admiration. This alliance will allow us to break new boundaries and create opportunities for our artists and teams.”
In an earlier conversation with Billboard, Assad noted that this is Rimas’ first major acquisition and that it follows a longstanding friendship and years of business dealings between him and Lauria.
“We’re working hand in hand and all we’re doing is adding more value to each other, him to me and me to him,” he said. “The collaboration already existed. We’re formalizing something that was already happening.”
Lauria was already an established concert promoter in Argentina with the company Dale Play (which currently sells over 1 million tickets per year, mostly in Argentina) when he created the label portion of his business, Dale Play Records, in 2017, focusing on a previously untapped rap and trap music scene bubbling out of Argentina. Sony Music came in as a partner in 2020.
“Afo and I have had a long-standing friendship for many years, united by a mission to elevate Latin music to the highest level,” said Lauria in a statement. The new partnership with Rimas, he told Billboard earlier, “reflects a journey we have been on for many years with Noah, Jomy and the RIMAS team. We share the same vision and values. Our companies are 360 companies with similar philosophies and origins. They’re rare in the global market. We do management, booking, label, publishing. The potential that these two ecosystems have together and the mutual collaboration that our artists and businesses can have is huge.”
Fede Lauria, Noah Assad and Afo Verde.
Afo Verde/Sony Music Latin Iberia
Added Verde in a statement: “I have great admiration for the achievements of both Fede and Noah. They epitomize the new generation of executives and label leaders, characterized by their independent spirit and innovative approach. It is a privilege to continue our partnership with them, and I love that they wanted to work together.”
Assad and Lauria’s working relationship dates back to Bad Bunny’s early days as an artist playing small venues in Buenos Aires, which Lauria booked. Today, he still promotes Bunny’s Argentina stadium and arena dates. The two have since worked together on multiple artist collaborations and started discussing a possible partnership three years ago, with conversations solidifying last year.
“This alliance is key to expanding our global reach and connecting with talent wherever it may be,” said Jonathan “Jomy” Miranda, president of Rimas Entertainment, in a statement. “We have always been at the forefront of discovering new artists, and now, through this partnership, we will have ears in more corners of the world to support and develop the next generation of stars.”
“Rimas is still Rimas and Dale Play is still Dale Play,” said Lauria during his conversation with Billboard, when asked about the future management of the respective labels. But, he adds, both labels have been “an essential part of the development of a cultural movement, and we’re in the process of shaping artists in Spain and Mexico that aren’t Argentine or Puerto Rican. Being together gives us huge power.”
Everything aligned to make the partnership come together now, said Assad. “We want a partner that has a clear vision, knows what they want and knows their destination,” he adds. “Culturally speaking, we share a lot of the same culture, and that’s why we’re doing this strategic alliance.”
