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The first time Nelson Albareda promoted a show at the Madison Square Garden complex in New York — not at the arena proper, but at the 5,600-capacity theater beneath it — everyone told him, “You’re going to lose your ass.” Albareda, a Miami-born Cuban, had assembled what to him was a dream lineup: a 50th-anniversary celebration of groundbreaking salsa artist and Fania Records co-founder Johnny Pacheco, featuring Pacheco and the Fania All-Stars. Still, his detractors were right: Albareda lost $200,000 on the 2006 show.

But after the music ended, the promoter was still buzzing. At midnight, he took his parents, who had attended, to a nearby deli, where his father asked, “How are you laughing? You lost 200 grand!”

“Well, it’s part of the business,” Albareda told him. “We keep moving on.”

Seventeen years later, Albareda, now 47, stands by that take. “In this business, you lose money, and it’s not how quickly you fall but how quickly you come back,” he says.

That fearlessness has helped Albareda become one of today’s most successful music executives. After nearly two decades working at labels and in radio, marketing and concert promotion, including as the leader of his formidable company Eventus, Albareda founded Loud And Live in 2017. The forward-thinking outfit’s flywheel-style model combines independent concert promotion — in 2022, it ranked at No. 14 on Billboard Boxscore’s year-end promoters chart with $96.5 million grossed, propelled by major tours including arena runs by Camilo and Ricardo Arjona — with marketing, brand partnerships and a content development studio. Loud And Live’s breadth reflects Albareda’s own guiding ethos, which emphasizes a broader culture and how disparate revenue streams fit into it, rather than focusing on just one or two of those streams.

“I was very proud of my culture and my heritage, and I wanted to give back,” Albareda says. “I got into music because of culture and because of pride, not necessarily because of the business — even though I ended up being in the business.”

For Albareda, who grew up in Miami during a “golden age” for music in the city in the 1980s, running Loud And Live is a natural fit. As a kid, he would listen to any cassettes or CDs he could get his hands on — he cites Cuban salsa singer Willie Chirino as a childhood favorite and inspiration — and he fondly recalls attending the Calle Ocho festival, where he saw Gloria Estefan & Miami Sound Machine perform.

“I grew up in a moment where Miami defined different sounds within the music business and always wanted to be part of that, primarily because of culture and the heritage of my parents,” he says.

Albareda’s entrée into the industry, while circuitous, laid the foundation for his interdisciplinary career. As a Miami Dade College freshman, he scored a meeting with Bacardi executives and successfully pitched “a branded entertainment concept … mixing music and cigars and the whole lifestyle around a big band.” As the project of “creating a 1950s, 1960s tropical salsa band” commenced, the team enlisted Celia Cruz — and when executives from her label, RMM, got to know Albareda, they offered him a publicity job in-house. RMM was distributed by Universal, then affiliated with the Bronfman family, which owned beverage conglomerate Seagrams; Albareda shared office space with the spirits division and began consulting for the likes of Absolut and Chivas Regal. The experience was formative, and after leaving RMM, he logged time at advertising agency Sanchez and Levitan before landing in radio at Hispanic Broadcasting Corp., where he deployed his passions for music and marketing.

“I saw an opportunity to make money on everything but the radio,” Albareda says. “I started a team that would do events, concerts, festivals — and then we also would go to the brands and say, ‘Hey, you’re Procter & Gamble. How do I help you?’ ”

Albareda understood the deep bond between radio audiences, particularly Hispanic listeners, and their favorite stations — and how it could be harnessed to deliver returns to brand partners. “You listened to that morning show, and you trusted that morning show,” he says. “You trusted the conviction that those are your friends. You wake up every day with them; you drive home with them. That’s what I built: You had the relationship with the artists, you had the relationship with the brands, you have the relationship with the listeners.”

As the company underwent changes, culminating in its absorption into Univision, Albareda realized, “Hey, I can do this without radio. Let me go on my own and really focus on this.” His first, short-lived attempt, a company called Unipro Group, failed when the 26-year-old Albareda misjudged the viability of a Christmas event and lost $3 million. “It was a decisive moment in my life,” he says now. “You realize when you’re at the bottom, you don’t have that many friends.”

After regrouping, in early 2005, he founded Eventus, which would focus on marketing and brands — not just because he knew the area well, but because he now lacked the capital to put on events. Eventus’ first client was the Latin Recording Academy, then still relatively new and looking to grow its footprint. Albareda helped it do just that, particularly through the sponsorship-driven event property Latin Grammy Street Parties, which staged open-air festivals in major cities nationwide. Brands took notice.

“We became the go-to guys for corporate America to connect anything that was culture with brands, specifically in the multicultural market,” Albareda says. “Our core was Hispanic. One by one, we started growing, and we built a company that worked with 60 brands. McDonald’s, Walmart, Dr Pepper, Verizon … those were all clients of ours.”

With 40% growth year over year, Eventus also had runway to enter concert promotion, and Albareda focused on the South Florida market. After selling Eventus, now one of America’s biggest multicultural marketing players, to Advantage Solutions in 2013, Albareda remained as CEO until 2016, when he struck out on his own (on May 20, Cuban Independence Day, he observes) with a noncompete clause and free time to boat, fish and develop the kernel of the idea that would become Loud And Live.

“We are marketers turned promoters — versus a lot of the entertainment companies out there, and a lot of the promoters out there want to become marketers,” Albareda says of launching his current company in 2017. Because he understood “what brands want,” he could facilitate the types of partnerships that help make tours profitable. But his decision to focus on touring at Loud And Live before branching out into agency work — effectively reversing his Eventus path — was also borne of necessity: His noncompete around live entertainment expired first.

“When we started, artists would pick up our calls because of brands, but they didn’t necessarily trust us with touring,” Albareda says. To build Loud And Live’s reputation, he deviated from the industry trend — “Everybody was going after urban,” he recalls — and decided to pursue “five or six iconic artists that we can make an impact [with] and that other artists look up to.” He began with Juan Luis Guerra and later added Arjona, Carlos Vives, Franco De Vita and Ricardo Montaner, who all then spread the gospel of Loud And Live. And once Albareda was able to reenter the agency space with Loud And Live, what the company could offer clients clarified.

“The businesses here are all synergistic,” he says. “The way that we treat artists, we are their partner when they’re touring and when they’re not touring. We’re not that promoter that signs a deal, puts a tour [on and says,] ‘See ya.’ ”

Loud And Live’s attentiveness to its clients runs “from the manager to the engineer all the way up to the manager to the artist,” Albareda explains, and while he’s emphatic that “in this business anybody can write a check; we can write a check,” it has helped the company compete with deeper-pocketed, more established competitors.

“They’ve bet a lot on me and will continue to do so,” says Colombian vallenato artist Silvestre Dangond, who will embark on his fifth Loud And Live-promoted tour in 2024. “We have a lot of love for each other. I feel like he’s not even my promoter because of the way he talks to me. He has created a team that’s a hybrid of who he is, with his personality, his positivity, good energy. He’s very decent and very human.”

Adds WK Entertainment founder/CEO Walter Kolm, who manages Dangond and other Loud And Live clients like Vives and Prince Royce: “Nelson is a promoter, but his advantage is that he also thinks like a manager. On top of being a hard worker and great at his job, Nelson is such a kind human, and [that] makes working with him the greatest pleasure.”

The pandemic interrupted Loud And Live’s growth, but now the company is firing on all cylinders. After orchestrating a partnership between McDonald’s and J Balvin in 2020, Loud And Live has continued connecting the restaurant chain with artists including Prince Royce, Nicky Jam and Manuel Turizo. The company’s brand portfolio now includes Pepsi, Walmart, Mattel and Michael Kors. When Becky G embarked on her first headlining tour on Sept. 14, she did it with Loud And Live as her promoter — and with a fresh Vita Coco partnership facilitated by the company. Other fall tours for the promoter include U.S. runs by Vives, El Alfa and Diego El Cigala.

With in-person concerts on pause during the COVID-19 lockdowns, Loud And Live was able to grow its content division more quickly than anticipated, and it won a Latin Grammy for its 2021 Juan Luis Guerra concert special. When Lionel Messi signed with Inter Miami CF, the soccer team (already a Loud And Live client) turned to Albareda to help roll out the superstar’s arrival — and Loud And Live assembled LaPresentaSíon, a concert featuring Camilo, Tiago PZK and more. (“All music artists look up to athletes; all athletes look up to artists,” Albareda says.)

And philanthropically, in keeping with his MO that his work place the culture, not business, first, Albareda announced a $1 million donation to the Latin Grammy Cultural Foundation late last year; the funds, to be disbursed over five years, will go toward college scholarships, grants and educational programs.

“Throughout his career, Nelson has been an avid supporter of the Latin Recording Academy and our sister organization, the Latin Grammy Cultural Foundation, donating time and resources to our events as well as engaging as an advocate to share our mission and vision with artists,” says Latin Recording Academy CEO Manuel Abud. “Among [his] greatest professional strengths are the intangible qualities that are from the heart, particularly his passion for Latin music.”

But despite Loud And Live’s success, Albareda still possesses the scrappy drive that fueled him at his Garden debut nearly 20 years ago. The father of three says he works 18-hour days, adding that his “aspiration is to be the leading Latin promoter and entertainment company in the world.” Immediately before the pandemic, Loud And Live partnered with Move Concerts, a major Latin American promoter that works across genres, to increase its presence in Central and South America, and Albareda is now eyeing expansion into Europe.

And his vision isn’t restricted to Latin music: In November, Thomas Rhett and Sam Hunt will headline the inaugural Country Bay Music Festival, Loud And Live’s first foray into the country market and an attempt to introduce a major country festival in Miami. “Country is a genre that is very similar in culture to Latin,” Albareda observes. “It’s a tight-knit community of family, core values, every song is a story — and we also know that Hispanics overindex in country music. Over 30% of country music fans in the U.S. today identify of Latino origin … My great-great-grandfather came here in 1876. Why is it that I can’t do country music?”

As he navigates a turbulent industry and the attendant pivots, Albareda returns to essential traits like perseverance, determination and trustworthiness. “We don’t sell widgets,” he says. “We sell relationships.”

Additional reporting by Griselda Flores.

This story will appear in the Sept. 23, 2023, issue of Billboard.