In 2018, the phonographic market was taken by surprise when singer Gusttavo Lima left Som Livre and transferred to Sony Music in one of the biggest financial deals known in Brazilian music. At the time, it was speculated that the music industry multinational paid around 40 million reais to have the singer in its casting. GL’s departure changed Sony, which hired other big names in the scene, and, with the sale of Som Livre, it ended up becoming the largest record company in the country.
In the meantime, a lot has changed: the pandemic has greatly heated up the digital music market. Som Livre ended up being sold to Sony international and Virgin (Universal Music’s arm) arrived in Brazil with force and hired very powerful names, such as Henrique and Juliano.
Now, the LeoDias column announces a new turnaround in the Brazilian music market. Gusttavo Lima’s contract with Sony, which expires next year, will not be renewed. And the most impressive: very soon Balada Records, Gusttavo Lima’s record label, will appear.
The idea is that this new label comes to compete for an important share of this market and that it has in its casting countless other artists, in addition to Gusttavo, and various musical rhythms.
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