Colombian artist Ryan Castro has accused his label, King Records, of breach of contract and withholding royalties. According to Billboard, Castro has already filed two lawsuits in Medellín (in April and May), and a third is expected to be filed in the coming weeks.
According to Castro, the issue began when King Records — an independent label owned by fellow Colombian artist Kevin Roldán — allegedly started withholding financial statements from Castro. In an effort to fix the issue, Castro and Roldán agreed to set up a new company, Awoo King Records, in which Castro would have a 50% stake and a majority share in the revenue.
However, two years after the creation of Awoo King Records, Castro claims he’s still owed money from digital distribution agreements and royalties. He’s also alleged that money he needed to support his burgeoning career was siphoned out of Awoo King Records without his knowledge or approval.
Castro’s lawyer and manager, Leo Arango, did not immediately return Rolling Stone’s request for comment. A rep for King Records was also not immediately available.
Castro and Roldán first linked in July 2020, when Castro signed management, recording, and publishing contracts with King Records. But by 2021, issues were apparent, with Castro claiming that he was asking for, but not receiving, financial statements from the label. In response, Castro and Roldán agreed to create Awoo King Records; while Castro received half interest and the majority share in revenue, Roldán retained control of the company’s finances for the first year.
Over the next year, Castro’s career took off thanks to hits like “Mujeriego” and “Jordan” (a major label, Sony Music Latin, also stepped in to help distribute his music). But Castro has claimed the accounting at Awoo King remained murky.
It was in Aug. 2022 that Castro’s lawyer realized money was being taken out of the company without the artist’s knowledge. Castro said he was prompted to sue after Roldán allegedly refused to fully hand over the company.
The first of the two lawsuits Castro filed are set to go to court in Colombia in the coming weeks.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Music News Click Here
