Rafael Ricardo Jiménez-Dan on Rimas, independence, and music publishing

To many of the music world, Rafael Ricardo Jiménez-Dan stays an enigma.

Regardless of founding Rimas in 2014 – the corporate behind international celebrity Dangerous Bunny and some of the influential forces in Latin music – he has by no means publicly mentioned his journey, his imaginative and prescient, or the controversial job he as soon as held in Venezuelan politics.

That modifications at present.

Talking from his dwelling in Florida, the rich Venezuelan entrepreneur is lastly prepared to inform his story. It’s a story of risk-taking, household sacrifice, and the relentless pursuit of a dream that will in the end reshape the Latin music panorama.

But, in response to Jiménez-Dan, it’s additionally a narrative that has been distorted by inaccurate media hypothesis, authorized filings, and political opportunism.

The catalyst for our dialog was MBW’s current protection of the impartial music revolution, which referenced numerous media experiences about Rimas’s origins.

Jiménez-Dan is especially eager to clear up particulars of his historical past working within the authorities of Hugo Chávez.

This affiliation has been whipped up not solely by media experiences but additionally by one explicit headline-chasing politician in Puerto Rico, who used it as the idea for her suggestion that Rimas and/or Dangerous Bunny may by some means politically corrupt the minds of PR’s residents.

“Each single greenback that I invested in music is the results of entrepreneurship, working exhausting with my household and mates, taking dangers that others wouldn’t take,” says Jiménez-Dan, strongly refuting the rumor that his startup funds for Rimas have been collected throughout his time in authorities.

Jiménez-Dan, who says he labored for the Chávez authorities for only one 12 months (2006-2007), provides: “I’m not and by no means have been a political actor. I’m not a member of any political occasion in Venezuela – not left, not proper. I by no means had any involvement within the coup d’état with Chávez.”

Jiménez-Dan confirms that in 2023, he offered his 60% stake in Rimas’ label and expertise administration agency – Rimas Leisure – to a 3rd occasion, although contractual restrictions forestall him from revealing the customer’s identification. (MBW sources are adamant it was Sony Music/The Orchard, in a deal that finally led to Noah Assad, alongside Dangerous Bunny, taking majority management of the corporate.)

Nonetheless, Jiménez-Dan continues to personal 60% of Rimas Publishing, an impartial publishing firm, the place he sees thrilling alternatives forward. (Rimas Publishing, led by Emilio Morales as Managing Director, is dwelling to a few subsidiary publishers – RSM, Risama, and Megasongs – and counts on its roster expertise comparable to Dangerous Bunny, Eladio Carrión, Subelo NEO, and Mora.)

“You based Music Enterprise Worldwide in 2015, and I based Rimas in 2014,” says Jiménez-Dan. “You’ll be able to perceive how exhausting it’s to battle everybody who doesn’t imagine in you.

“So I really feel that for the primary time, with you, I can clarify how Rimas was born…”

There’s not a complete lot concerning the origins of Rimas on-line, except for a few Spanish language items and two articles IN BILLBOARD, which knowledgeable my current column. The place in your view has a number of the reporting strayed from the trail?

The historical past of Rimas is without doubt one of the most superb, unimaginable histories about entrepreneurship, and happily, it has a really pleased ending. Sadly, there was a number of misunderstanding, and I’ve by no means discovered the precise channel to discuss that.

Throughout our negotiations [with Rimas Entertainment’s majority-buyer in 2023], out of the blue, some journalists from Billboard approached me with a really robust and hostile line [of questioning]. I didn’t really feel snug doing an interview, so all my phrases have been transmitted by my attorneys in LA.

Regardless of providing them paperwork with very exhausting information, the end result was what I had anticipated from the very starting — a really slanted focus within the reporting.

One persistent story is that you simply made a $2 million startup funding in Rimas when it launched in 2014, and largely let others run the corporate.

This is without doubt one of the worst [mistruths] that individuals inform about Rimas. It originates from a trial involving my former enterprise affiliate and his ex-partner, and the media [picked it up from there]. She put within the authorized paperwork some tales she had heard [about Jiménez-Dan’s initial level of investment]. That is the one supply of this info; it’s completely false.

I by no means gave anybody else a examine for $2 million, or perhaps a small sum of money, to create Rimas. I used my bank cards; I mortgaged one property that I had in Florida. I paid for tons of of lunches with radio promoters and video producers. I used to be there with my child Ricardo, going to Greatest Purchase and the ironmongery shop to purchase issues to repair up the recording studios.

“Launching and constructing Rimas was a number of effort. This concept of me being this man who purchased in a suitcase with $2 million, and gave it to somebody – that is completely false.”

I deserted my household for weeks, ready up till dawn in recording studios for one of many first Rimas artists to signal an settlement with us.

Launching and constructing Rimas was a number of effort. This concept of me being this man who purchased in a suitcase with $2 million, and gave it to somebody – that is completely false.

I used to be the one shareholder of Rimas from 2014 to 2018. I used to be the 100% proprietor for 4 years.

Is it true that Rimas is an acronym on your kids’s names?

Completely. The title is a phrase sport: “Rimas” means “rhymes” in Spanish, but it surely’s additionally an acronym of the names of my three children: Ricardo, Marianna, and Sophya. Virtually all my ventures have, not directly, the names of my household. That is what strikes me – my household – and they’re concerned in all my tasks.

In 2014, I used to be managing artists in Venezuela, and so they wished to make music in Puerto Rico. We began visiting studios in San Juan, and I noticed a land of alternatives, however a [local music] trade that was in a really dangerous second. In the event you keep in mind, 2014 was the worst 12 months within the music trade from the Eighties to at present, with very low income.

The main labels dominated the trade, and the format was altering — CDs have been sunsetting, and streaming was beginning.

We discovered this area in San Juan and noticed a chance [to invest in creating recording facilities and a record label]. I couldn’t discover a recording studio with worldwide high quality [in the region] to do one thing superb.

When did Noah Assad enter the image?

I’ve nice respect and appreciation for Noah. I’m grateful for all of the issues we constructed along with the remainder of the group.

Noah was an worker of my firm even earlier than we created Rimas. He was employed as a supervisor of one of many artists I managed at the moment.

I used to be concerned in hospitality, meals, and different industries by my holding firm, Risamar Enterprise Group. I wanted assist, and I noticed in Noah an individual with expertise who was additionally linked in Puerto Rico. After I met him, he was organizing some native events and dealing with a few producers who labored with certainly one of our artists.

“I’ve nice respect and appreciation for Noah… I supplied him 40% of the shares within the firm… I’ve no regrets about that.”

When Rimas was created, Noah continued to be an worker — a great one.

4 years later, I supplied him 40% of the shares within the firm, with the dedication that I wanted him extra concerned in day-to-day operations. It’s pure for founders to take the following step and provides individuals alternatives. I’ve no regrets about that.

Noah grew to become completely central to Dangerous Bunny’s improvement and success.

Virtually from the start, Noah was very shut with Benito. He’s the key supervisor in his profession – that is plain.

I’ve nothing however respect and appreciation for him and his household, and for his expertise in dealing with the inventive aspect.

One suggestion in BILLBOARD’S REPORTING was that you simply by no means really met Dangerous Bunny. Is that true?

No, it’s completely false. I met Benito whereas we have been in Puerto Rico. I used to be very non-public and reserved, however Puerto Rico is 100 by 35 miles – it’s a small island.

Most likely in 2016, we have been at an occasion in Mayagüez with [artists] Jowell and Randy, and different artists who have been within the firm at the moment. Eladio Carrión was with us there too.

“I keep in mind Eladio being invited to sing at a really tiny bar, and he stated, ‘That is my buddy Benito.’”

I keep in mind Eladio being invited to sing at a really tiny bar, and he stated, “That is my buddy Benito.” Benito began singing Diles, one of many first songs he launched. Once we noticed that spark in Benito and the response of the individuals, we noticed that this was going to be nice.

Throughout a number of events, I used to be alongside [Bad Bunny] at music occasions, Billboard conferences, even serving to him with private issues.

However I’ve a philosophy: executives within the music trade generally really feel the precise to regulate each single facet of an artist. This impartial enterprise took a special strategy – inventive freedom was key within the improvement of Rimas.

By 2017, Rimas was attracting critical consideration from main gamers. What made you resolve to remain impartial at the moment?

In 2017, many corporations approached us. Atlantic Data began working with us, reviewing our monetary paperwork, and we have been concerned in negotiations with Interscope/Common in Los Angeles too. I needed to fly there – my group, together with Noah, was the face of these negotiations.

The identical factor occurred with Scooter Braun.

Scooter was discussing with us the potential acquisition of the corporate. At the moment, he was working with Ariana Grande and Justin Bieber, and had a strong presence in LA.

I assumed we have been able to take the following step, however in the end we determined to keep up our independence.

What particularly made you flip down these presents in 2017?

We had constructed one thing particular with our philosophy of inventive freedom.

At the moment, the most important labels, even with all their assets, nonetheless wished to regulate each single facet of the artist – how they costume, what producers they work with, the inventive route.

“We weren’t prepared to surrender our freedom, even for the assets these corporations may provide.”

We have been impartial and actually attempting to do one thing out of the field. I’m not the man making photos [of myself] or paying for billboards; I feel the true ‘energy gamers’ are the artists and the inventive spirit in them. The inventive course of needed to be protected against the borders that the majors placed on artists.

By 2017, we had confirmed that this strategy may work, so why change it? We weren’t prepared to surrender that freedom, even for the assets these corporations may provide.

So what modified by 2023 that made you resolve to promote your stake in Rimas Leisure?

I’ve contractual restrictions about what I can say, however I can verify that I offered my 60% share to a 3rd occasion [in 2023]. It was time for the corporate to maneuver to the following step.

I imagine in the entire skilled workers and what we had constructed throughout all these years; it wasn’t just one artist, it was agreements with many artists, catalog, procedures, workers, and a repute and community.

2023 was a terrific 12 months after the pandemic. Music was steadily rising, particularly Latin music. I noticed the chance, not just for me and my household after years of working very exhausting, but additionally for the corporate to get moved to a stage that I in all probability couldn’t obtain alone, as a result of others have extra assets and capability.

Are you proud of the thought of Noah now being in command of the corporate?

Completely, completely. I’m pleased for a number of causes.

For one factor, I nonetheless management 60% of Rimas Publishing, which excites me probably the most due to the authorship aspect of the enterprise.

I used to say I didn’t wish to be on the billboards or on the Grammys – I like to get pleasure from [the music business] from the couch in my home with my spouse and children when a number of the artists within the firm are acknowledged with a prize.

It’s the identical factor with this. I really like Rimas being an increasing number of profitable. Each single new achievement of Rimas is a motive for me to be pleased and grateful.

The DNA, the title of my children, will at all times be within the firm.

Rimas’s partnership with The Orchard has been essential to Dangerous Bunny’s international success. You selected to go along with their companies mannequin moderately than a standard main label deal; that was fairly trailblazing on the time.

When streaming began, there was no extra room for opacity within the music enterprise. The numbers are the numbers. I’m a man from expertise – I come from techniques engineering – and I stated, “That is the brand new panorama. You’ll be able to’t cover the reality anymore.”

At the moment, the music trade was filled with opacity. Transparency was a uncommon commodity. I noticed it when combating to discover a place for a tune on the radio or combating to debate an settlement with a label firm — an absence of transparency, hidden prices, hidden issues. Every little thing was ‘at nighttime’.

I really feel Rimas is a part of a motion that’s altering music ceaselessly. The [availability of] spine companies – like distribution and expertise – may open the best way for brand spanking new gamers, impartial gamers, that might change the panorama of how the music trade operates.

The Orchard has completed a terrific job with Rimas and Dangerous Bunny globally. That partnership has proven what’s potential while you mix impartial entrepreneurship with major-level infrastructure.

Sure, and it proved that effectivity and exhausting work matter greater than the methods. It’s opening a number of doorways for brand spanking new alternatives for different [labels] and artists.

I would like to deal with the political controversy surrounding your background. A Puerto Rican politician tried to hyperlink your historical past with Hugo Chávez’s authorities to Dangerous Bunny and his affect on the Puerto Rican individuals. Are you able to set the file straight?

For about one 12 months from 2006 to 2007, I served as Vice Minister of Authorized Certainty in my nation, Venezuela.

I used to be a lawyer and a technician, with concepts to enhance establishments. I’ve no regrets. I labored for a 12 months attempting to enhance entry to justice and transparency – the identical issues we’re combating for now in music – and strengthen the rule of legislation.

I grew to become very annoyed. I spotted [the system] was unattainable to vary from inside, and I resigned from my place. I used to be by no means in an administrative or financial place dealing with cash. I used to be in institutional administration on the technical aspect of presidency.

“I’m not and by no means have been a political actor.”

Each single greenback that I invested in music is the results of entrepreneurship, working exhausting with my household and mates, taking dangers that others wouldn’t take.

I’m not and by no means have been a political actor. I’m not a member of any political occasion in Venezuela – not left, not proper. I used to be by no means concerned within the coup d’état with Chávez.

[Editor’s note: Hugo Chávez served as President of Venezuela from 1999 through to his death in 2013 – the longest-serving national President in the history of the Americas. Despite being elected three times, he is widely seen as having consolidated power by weakening checks and balances on the executive.]

The individuals round me – my household, mates, the individuals associated to me by the companies I’ve constructed – know who I’m and the place we come from.

Billboard reported that ‘friction’ exists between you and Noah at present. How would you characterize your relationship with him?

After you construct one thing as nice as we did, you’ll be able to have area for excellent issues like appreciation, respect, and thankfulness, whereas not at all times needing to agree on all the pieces. The factor is how you discover elevated, civilized methods to debate and discover widespread floor.

In fact, we are able to have a few disagreements, however the firm is working very nicely.

We [conduct ourselves] by the procedures that the working agreements set up. If we require a gathering, now we have a gathering.

Let’s end on a constructive notice: Rimas Publishing. You appear very enthusiastic about this. Why are you betting on the publishing aspect of the enterprise?

Rimas Publishing is a jewel. It has constructed a terrific repute. I’m very happy with the extremely skilled and moral group now we have in place.

Integrity, transparency, and innovation are the pillars of Rimas Publishing at present. The group is writing some of the lovely pages in music publishing historical past.

Since 2023, we’ve grown from 90 to 160 artists, and counting.

What excites you about the way forward for music publishing particularly?

The supply of data and information is altering the trade. Transparency will rule, and there might be no room for the hidden methods of the previous.

In an trade with an absence of transparency, while you discover somebody to let you know the reality, present you the numbers, when you’ll be able to focus on overtly the settlement measurement and income aspect – it’s like a domino impact.

“Benito and Latin music has opened the potential for the unknown.”

That’s what’s occurred with Benito and Latin music – it has opened the potential for the unknown.

Tomorrow, there might be a man from Mozambique, Guinea, or New Zealand who makes use of an instrument, creates melodies, and delivers a punch line… his music could possibly be international inside two hours.

I’m pleased to have been a part of this journey, however no less than on the [songwriter] aspect, I wish to be a part of the music that’s occurring now.

Any closing ideas on the Rimas legacy?

Rimas represents all the pieces Puerto Rico can obtain. Since I left Venezuela, Puerto Rico has grow to be crucial to me. It’s the place I developed certainly one of my most essential companies, the place Rimas grew, and the place I discovered goal.

If I went again 10 years, I in all probability would have completed the identical factor.

My children’ DNA will at all times be within the firm, and I’m grateful for that journey. I’m happy with it.Music Enterprise Worldwide