A report by Leiba Cobo for Billboard.
Superstar Marc Anthony has signed an enormous, multimillion-dollar, multi-year touring arrangement with his longtime concert promoter, CMN, the largest producer of Latin music concerts and events in the U.S.
The deal will give Marc Anthony at least $160 million, including guaranteed income and performance bonuses, making it perhaps the most lucrative touring deal ever for a Latin artist. Under the new agreement, CMN will serve as Anthony‘s exclusive concert promoter throughout North America, Central America, South America and the Caribbean encompassing several touring cycles. In Europe, CMN will co-promote concerts with Magnus Talent Agency, the booking agency of Magnus Media, the entertainment company founded by Marc Anthony with veteran agent Michel Vega.
“Our unprecedented partnership with Marc unites an iconic musical treasure with the world’s top multicultural live entertainment and branding resources to drive innovation on a global basis,” said Henry Cárdenas, president of CMN.
The new agreement will cover Anthony’s next global tour, slated to kick off later this year.
CMN has long been Marc Anthony’s concert promoter worldwide, and Anthony has long been one of the top and most consistent touring acts in the market, with a steady schedule of sold-out arena and stadium dates every single year. In fact, Anthony and Cardenas have such a longstanding, solid relationship that they created the Maestro Cares Foundation together and host an annual gala every year in New York City.
The new deal solidifies the alliance and hints at expanding marketing, branding and sponsorship opportunities.
“Henry and I started in this industry 30 years ago. Always with an eye on changing the status quo,” said Anthony. “He and his team represent absolute quality and efficiency, with an eye on innovative approaches to the touring experience.”
“We are thrilled to have reached this historic agreement with CMN on behalf of our flagship client Marc Anthony,” said Magnus CEO Michel Vega, who founded Magnus with Marc Anthony in 2015. “It’s proof positive of his iconic status and confirms his position at the pinnacle of the live entertainment world. CMN has been an integral part of his career development and this was a natural evolution of a longstanding relationship.”