To many of the music world, Rafael Ricardo Jiménez-Dan stays an enigma.
Regardless of founding Rimas in 2014 – the corporate behind international famous person Unhealthy 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 adjustments right now.
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 may finally reshape the Latin music panorama.
But, in accordance with 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 latest protection of the impartial music revolution, which referenced varied media stories 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 stories but in addition by one specific headline-chasing politician in Puerto Rico, who used it as the idea for her suggestion that Rimas and/or Unhealthy Bunny might one way or the other politically corrupt the minds of PR’s residents.
“Each single greenback that I invested in music is the results of entrepreneurship, working onerous with my household and buddies, taking dangers that others wouldn’t take,” says Jiménez-Dan, strongly refuting the rumor that his startup funds for Rimas had been gathered 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 get together 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 bought his 60% stake in Rimas’ label and expertise administration agency – Rimas Leisure – to a 3rd get together, although contractual restrictions forestall him from revealing the client’s identification. (MBW sources are adamant it was Sony Music/The Orchard, in a deal that finally led to Noah Assad, alongside Unhealthy Bunny, taking majority management of the corporate.)
Nevertheless, 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 3 subsidiary publishers – RSM, Risama, and Megasongs – and counts on its roster expertise equivalent to Unhealthy Bunny, Eladio Carrión, Subelo NEO, and Mora.)
“You based Music Enterprise Worldwide in 2015, and I based Rimas in 2014,” says Jiménez-Dan. “You possibly can perceive how onerous it’s to struggle 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 latest column. The place in your view has a number of the reporting strayed from the trail?
The historical past of Rimas is among the most wonderful, unimaginable histories about entrepreneurship, and happily, it has a really joyful ending. Sadly, there was loads of misunderstanding, and I’ve by no means discovered the proper channel to talk about 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 powerful and hostile line [of questioning]. I didn’t really feel snug doing an interview, so all my phrases had been transmitted by way of my legal professionals in LA.
Regardless of providing them paperwork with very onerous 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 among 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 data; it’s completely false.
I by no means gave anybody else a test for $2 million, or perhaps a small amount of cash, to create Rimas. I used my bank cards; I mortgaged one property that I had in Florida. I paid for lots 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 store to purchase issues to repair up the recording studios.
“Launching and constructing Rimas was loads 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 loads 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 youngsters’s names?
Completely. The title is a phrase recreation: “Rimas” means “rhymes” in Spanish, however it’s additionally an acronym of the names of my three children: Ricardo, Marianna, and Sophya. Nearly all my ventures have, ultimately, 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] business that was in a really dangerous second. In the event you bear in mind, 2014 was the worst 12 months within the music business from the Eighties to right now, with very low income.
The main labels dominated the business, and the format was altering — CDs had been sunsetting, and streaming was beginning.
We discovered this house 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 wonderful.
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 crew.
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 way of my holding firm, Risamar Enterprise Group. I wanted assist, and I noticed in Noah an individual with expertise who was additionally related in Puerto Rico. After I met him, he was organizing some native events and dealing with a few producers who labored with considered 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 folks alternatives. I’ve no regrets about that.
Noah grew to become completely central to Unhealthy Bunny’s improvement and success.
Nearly 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 creative facet.
One suggestion in BILLBOARD’S REPORTING was that you simply by no means truly met Unhealthy Bunny. Is that true?
No, it’s completely false. I met Benito whereas we had been in Puerto Rico. I used to be very personal and reserved, however Puerto Rico is 100 by 35 miles – it’s a small island.
Most likely in 2016, we had been at an occasion in Mayagüez with [artists] Jowell and Randy, and different artists who had been within the firm at the moment. Eladio Carrión was with us there too.
“I bear in mind Eladio being invited to sing at a really tiny bar, and he stated, ‘That is my pal Benito.’”
I bear in mind Eladio being invited to sing at a really tiny bar, and he stated, “That is my pal Benito.” Benito began singing Diles, one of many first songs he launched. Once we noticed that spark in Benito and the response of the folks, 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 business generally really feel the proper to manage each single side of an artist. This impartial enterprise took a unique strategy – creative freedom was key within the improvement of Rimas.
By 2017, Rimas was attracting severe consideration from main gamers. What made you determine to remain impartial at the moment?
In 2017, many firms approached us. Atlantic Data began working with us, reviewing our monetary paperwork, and we had been concerned in negotiations with Interscope/Common in Los Angeles too. I needed to fly there – my crew, 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 robust presence in LA.
I believed we had been able to take the following step, however finally we determined to take care of our independence.
What particularly made you flip down these provides in 2017?
We had constructed one thing particular with our philosophy of creative freedom.
At the moment, the foremost labels, even with all their assets, nonetheless wished to manage each single side of the artist – how they costume, what producers they work with, the artistic route.
“We weren’t prepared to surrender our freedom, even for the assets these firms might provide.”
We had 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 believe the true ‘energy gamers’ are the artists and the artistic spirit in them. The artistic course of needed to be protected against the borders that the majors placed on artists.
By 2017, we had confirmed that this strategy might work, so why change it? We weren’t prepared to surrender that freedom, even for the assets these firms might provide.
So what modified by 2023 that made you determine to promote your stake in Rimas Leisure?
I’ve contractual restrictions about what I can say, however I can verify that I bought my 60% share to a 3rd get together [in 2023]. It was time for the corporate to maneuver to the following step.
I imagine in the entire skilled employees and what we had constructed throughout all these years; it wasn’t just one artist, it was agreements with many artists, catalog, procedures, employees, and a popularity and community.
2023 was an amazing 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 onerous, but in addition for the corporate to get moved to a degree 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 accountable for the corporate?
Completely, completely. I’m joyful 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 facet of the enterprise.
I used to say I didn’t need 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 like Rimas being increasingly profitable. Each single new achievement of Rimas is a cause for me to be joyful and grateful.
The DNA, the title of my children, will all the time be within the firm.
Rimas’s partnership with The Orchard has been essential to Unhealthy Bunny’s international success. You selected to go together 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 know-how – I come from methods engineering – and I stated, “That is the brand new panorama. You possibly can’t conceal the reality anymore.”
At the moment, the music business was stuffed with opacity. Transparency was a uncommon commodity. I noticed it when combating to discover a place for a track on the radio or combating to debate an settlement with a label firm — a scarcity of transparency, hidden prices, hidden issues. All the pieces was ‘in the dead of night’.
I really feel Rimas is a part of a motion that’s altering music eternally. The [availability of] spine companies – like distribution and know-how – might open the way in which for brand spanking new gamers, impartial gamers, that might change the panorama of how the music business operates.
The Orchard has carried out an amazing job with Rimas and Unhealthy Bunny globally. That partnership has proven what’s attainable once you mix impartial entrepreneurship with major-level infrastructure.
Sure, and it proved that effectivity and onerous work matter greater than the methods. It’s opening loads 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 Unhealthy Bunny and his affect on the Puerto Rican folks. Are you able to set the document 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 regulation.
I grew to become very annoyed. I noticed [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 facet 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 onerous with my household and buddies, 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 get together 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 folks round me – my household, buddies, the folks associated to me by way of the companies I’ve constructed – know who I’m and the place we come from.
Billboard reported that ‘friction’ exists between you and Noah right now. How would you characterize your relationship with him?
After you construct one thing as nice as we did, you possibly can have house for nice issues like appreciation, respect, and thankfulness, whereas not all the time needing to agree on every thing. The factor is how you discover elevated, civilized methods to debate and discover widespread floor.
After all, we will have a few disagreements, however the firm is working very effectively.
We [conduct ourselves] by way of the procedures that the working agreements set up. If we require a gathering, we have now a gathering.
Let’s end on a constructive notice: Rimas Publishing. You appear very enthusiastic about this. Why are you betting on the publishing facet of the enterprise?
Rimas Publishing is a jewel. It has constructed an amazing popularity. I’m very happy with the extremely skilled and moral crew we have now in place.
Integrity, transparency, and innovation are the pillars of Rimas Publishing right now. The crew is writing some of the stunning 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 provision of knowledge and information is altering the business. Transparency will rule, and there will probably be no room for the hidden methods of the previous.
In an business with a scarcity of transparency, once you discover somebody to inform you the reality, present you the numbers, when you possibly can talk about brazenly the settlement dimension and income facet – it’s like a domino impact.
“Benito and Latin music has opened the opportunity of the unknown.”
That’s what’s occurred with Benito and Latin music – it has opened the opportunity of the unknown.
Tomorrow, there will probably be a man from Mozambique, Guinea, or New Zealand who makes use of an instrument, creates melodies, and delivers a punch line… his music might be international inside two hours.
I’m joyful to have been a part of this journey, however at the very least on the [songwriter] facet, I need to be a part of the music that’s occurring now.
Any closing ideas on the Rimas legacy?
Rimas represents every thing Puerto Rico can obtain. Since I left Venezuela, Puerto Rico has grow to be crucial to me. It’s the place I developed considered one of my most vital companies, the place Rimas grew, and the place I discovered function.
If I went again 10 years, I in all probability would have carried out the identical factor.
My children’ DNA will all the time be within the firm, and I’m grateful for that journey. I’m happy with it.Music Enterprise Worldwide
