As the COO/executive vp of Sony Latin Iberia, María Fernández is one of the most powerful people in Latin music. She not only runs the operational and financial aspects of the largest Latin music company but is also an artist and management-forward executive who oversees her multiple divisions with a famously empathetic style.
This week, Fernández’s work is at the forefront, as the RIAA Honors, which is celebrating Latin music this year, announced it was recognizing her as industry executive of the year for 2023. Fernandez will be feted during a ceremony in Washington, D.C., on Tuesday (Sept. 19) alongside Gloria Estefan (Icon), Emilio Estefan (industry trailblazer), Sebastian Yatra (artist of the year) and representatives Veronica Escobar and María Elvira Salazar (policymakers of the year).
A native of Venezuela who started her career in media, Fernández is a finance whiz who joined Sony as CFO and rose to the rank of COO five years ago. Her role expanded during the pandemic when she made mentoring and training young executives a central part of her job and a personal mission. She now oversees the strategic approach of the company and all of its different operations, including finance, people experience, technology and acquisitions, and is regularly involved in big artist deals. And ahead of the RIAA Honors, Fernández is Billboard’s Executive of the Week.
Here, Fernández discusses her finance background, her role as a mentor within her community and the state of Latin music around the globe. “It’s a moment in history when you can show that Latin music is not only one genre, and the fact that we have amazing artists representing each one of those genres and seeing that on global charts is extremely fulfilling.”
You have a background in finance. How do you apply that to your job at a music company?
I think I bring to the more strategic, financial and operational areas the understanding of artists’ needs and therefore how we can organize ourselves to incorporate those needs in everything that we do. For instance, an artist will want to do a more expensive video because they have a creative vision. From a purely financial standpoint, you won’t see a return from that investment because the streaming of the video won’t compensate for the level of investment. But when you understand why that is important for the artist and how it fits into the whole strategy, not only do you understand the logic of what you want to do, but you can sell it.
That’s interesting because “Let me talk to finance” is among the more dreaded words one can hear.
Historically, the financial group is the team that says no to everything. And there’s a struggle between the creative and financial groups. One thing we’re trying to do more and more is make sure both sides understand each other’s needs. By the way, you can say exactly the same thing when we’re talking about employees because the base of the values in our region is that we have two rosters: artists and employees, and we need to take care of both of them. You need superstar employees and executives to manage superstar artists.
I think you’re unusual in that you work often and directly with managers. I cannot tell you how many times a manager has told me, “I’m meeting with Maria Fernández today.” What happens when your mutual needs don’t align?
I work with a lot of managers and maybe there’s a logic as to why a manager needs something for their artist, but that need doesn’t necessarily align with our needs in that moment. But it’s always [about] how to make sure we understand each other even if we’re not always going to be on the same page. To me, it’s the messaging. The way I see it, we are here to serve. We’re here to make things easier, [even] with all the limitations we have in a corporation and making sure we follow procedure.
What are you proud of in the last year?
The presence of our artists on the charts and the variety of genres on the charts. Right now, you have urban songs, but you have Shakira on the top of the charts with a song like “Acróstico.” Then you have regional Mexican artists like Fuerza Regida and an artist like Luísa Sonza from Brazil at the top of Spotify Brazil with a bossa nova song called “Chico.” It’s a moment in history when you can show that Latin music is not only one genre, and the fact that we have amazing artists representing each one of those genres and seeing that on global charts is extremely fulfilling. And to be honest, what I’m doing in terms of helping the next generation of executives, especially women, to make sure they’re prepared continues to be the highlight of my career at this point. I’ve dedicated a lot of time to that and I feel very proud of the accomplishments in terms of getting them ready to be promoted, changing jobs, doing new things in the organization.
What did you specifically do in terms of your mentorship work?
What I’m doing personally is I am dedicating a significant amount of time to take care of the career development of employees in the U.S. and also in the region, in order to allow them to take over executive leadership positions in the future. We do mentoring, talk to them, we develop career plans, if they have an issue we discuss the issues, if they need training in a particular area, through conversations we figure out what they’re missing to get to the next level. We follow up on plans to make sure they have everything they need.
That sounds very time-consuming for a busy executive. How do you manage?
You’d be surprised. Sometimes you don’t need to do too much. Sometimes someone simply has a blind spot and the second you tell them about it, they can go in and fix it. We’re always busy. And we’re not always taking the time to analyze where you’re at, what do you like, what makes you happy. My policy is very simple. Anyone who wants to talk to me can get on my agenda. If they need to talk to me every week, I’ll be there every week.
Is this mandatory?
No. But anyone that asks me to mentor them, I do. At this point, it’s 80% women and 20% men. And the fact that I can do it, shows that others can do it too. If we can have that ripple effect that we can make a little bit of time in our very busy schedules to help someone else when they need it, I think by default this will make us a better company. Formally I started during the pandemic, around 2020. And I’m proud to say that some of the people I started mentoring at that time are now in senior positions in the organization.
I still see very few women in really senior leadership positions in our industry. How can this change?
I am very happy to report that I’m seeing it happening. I personally don’t like the idea of a woman getting the position because she’s a woman, but because she’s the best candidate. And what I’m proud of is, we’ve been able to have many more women in senior positions applying and making sure they’re the best of the best. In Sony Music, we have such talented women in the structure that I don’t think it’s going to be challenging to find very compelling female candidates when you’re trying to fill a position.
What do you see happening with Latin music now?
A big difference is people [who are not Latin] are used to equating “Latin music is urban music,” and that’s not the case. Latin music is very rich, it has a lot of genres, it has a lot of history. “Latino” is not reggaetón. Latino is 100 genres per country. And that to me means more and more artists are open to collaborating with artists from different places. Camilo collaborated with an artist from India; Luísa Sonza is on a song that features Demi Lovato, singing in Portuguese. Soon we will see what will happen with Korean music being more present in the U.S. I think it’s a new era in terms of music.
What is your biggest challenge?
The challenge for a region like ours is, how do we make sure we collaborate with everything that is happening and make sure people understand the music, the artist and what they want to accomplish? How do you create global artists when their presence in some charts is limited? For example, in Brazil, over 90% of the chart is local music, and in general, most of the countries are going back to local music. So, as a global company, how do you balance those things? The importance of the local artist, [and then] the local artist wants to be global. How do we fulfill those dreams?
