Wallace Downey (1902–1967) was an American film producer and director who played an important role in Brazilian cinema during the early sound era. Downey was a record company executive who in 1931 procuded and directed the musical Our Things, the first commercially successful Brazilian sound film. He set up Waldow Film, which was originally based in São Paulo, but the film industry rapidly shifted to Rio de Janiero. He later worked with Adhemar Gonzaga of Cinédia, Brazil's largest studio.