Nelson Albareda
CEO, Loud And Stay
The primary time Nelson Albareda promoted a present on the Madison Sq. Backyard complicated in New York — not on the area correct, however on the 5,600-capacity theater beneath it — everybody instructed him, “You’re going to lose your ass.” Albareda, a Miami-born Cuban, had assembled what to him was a dream lineup: a Fiftieth-anniversary celebration of groundbreaking salsa artist and Fania Data co-founder Johnny Pacheco, that includes Pacheco and the Fania All-Stars. Nonetheless, his detractors had been proper: Albareda misplaced $200,000 on the 2006 present.
However after the music ended, the promoter was nonetheless buzzing. At midnight, he took his mother and father, who had attended, to a close-by deli, the place his father requested, “How are you laughing? You misplaced 200 grand!”
“Nicely, it’s a part of the enterprise,” Albareda instructed him. “We maintain shifting on.”
Seventeen years later, Albareda, now 47, stands by that take. “On this enterprise, you lose cash, and it’s not how rapidly you fall however how rapidly you come again,” he says.
Learn Billboard‘s full profile on Govt of the 12 months Nelson Albareda right here.
