MIAMI, Nov. 25, 2008 (GLOBE NEWSWIRE) -- Fuego Entertainment, Inc. (OTCBB:FUGO) today announced that it has expanded its operations to include the production of music tours and live music events. The company is planning a calendar of events for 2009 that will include some of the artists already signed to its two record labels, Echo-Fuego Music Group and FEMI, as well as some of the most popular Latin artists of the moment.
"I'm pleased to report that we are expanding our operations to now include live music events in the U.S. and abroad. The live music industry is stronger than ever, particularly given the continued economic slowdown that has impacted so many consumer-oriented businesses," stated Hugo Cancio, President & CEO of Fuego Entertainment. "Our goal is to not only produce major live music events, but to also market and promote our music portal FuegoMio.com as the main sponsor for all our live music events." According to Forbes Magazine, total primary-market concert ticket sales climbed to a record $3.9 billion, up 8% from $3.6 billion in 2006 and represents the ninth consecutive year that combined concert grosses in the U.S. and Canada have hit an all-time high.
The first of a series of events to be produced by Fuego Entertainment and presented by FuegoMio will be Sunday November 30th at the Amelia Earhart Park in Hialeah, Florida. The park has a capacity of approximately 15,000 people. The park will be the venue for the first Reggaeton Music Festival in the City of Miami/Hialeah and Miami Lakes. FuegoMio will be co-presenting 14 reggaeton artists including Javier Voltaje, Gente de Zona USA and Luny Tunes recording artists Arcangel and Erre XI. Key sponsorship for the event is provided by Beverage Plus and MC2 Energy Drink, serving free beverages to the fans and Metro PCS. Two other live music events are already scheduled for December 2008, and a series of major live music events are in the works for 2009 and 2010.
Fuego Entertainment, Inc. is engaged in the production, acquisition, marketing, sales, and distribution of entertainment products. For more information, please visit Fuego Entertainment at http://www.fuegoentertainment.net.
This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Fuego Entertainment, Inc., members of their management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.