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Believe Music

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Believe
Company typePublic
Euronext Paris: BLV
IndustryMusic
Founded2005; 19 years ago (2005)
Founders
  • Denis Ladegaillerie
  • Arnaud Chiaramonti
  • Nicolas Laclias
HeadquartersParis, France
Number of locations
44 countries
Area served
Worldwide
Key people
  • Denis Ladegaillerie (Chief Executive Officer)
  • Romain Vivien (Board member and managing Director)
  • Xavier Dumont (Director General)
  • Marie-Anne Robert (Global Head of Artist Services)
Services
Number of employees
2730 employees
Websitebelieve.com

Believe (also known as Believe Music; previously known as Believe Digital) is a global digital music company headquartered in France[1][2] which provides digital solutions for artists and labels.[3][4][5] Believe has several brands including TuneCore, Nuclear Blast, Naïve, Groove Attack and AllPoints.

Believe is one of the world’s leading digital music companies. [6][7][8][9][10]

History

Beginnings

The company was founded in 2005 by Denis Ladegaillerie, Arnaud Chiaramonti and Nicolas Laclias.[11]

The company operates from its global headquarter (Believe SA) in Paris, and was introduced on Euronext marketplace in June 2021.[12] Believe also has a subsidiary in Luxembourg (Believe International) which serves as a hub for the digital distribution.

Growth

Believe's expansion was fuelled by $60m growth capital investment from Technology Crossover Ventures (TCV) and XAnge. In August 2016, the company acquired the French independent label Naive Records for €10m, seeking to improve value from the company's extensive back catalogue, and restarted the label's issuing of new recordings as physical CDs in 2017.

In 2021, Believe generated $682M in annual revenues,[13] increasing compared to the previous year.[14][15]

The company has embarked on an expansion drive in developing digital music markets such as Russia and India.[16]

Believe has been accused of copyright trolling, particularly on YouTube, where it has been alleged to engage in claiming copyright for works that are either copyright free or that they do not own the rights to. The company was the subject of a New York federal lawsuit alleging that they were behind large scale, willful copyright infringement.[17]

Acquisition

In 2015, Believe announced the acquisition of Musicast.[18][19] The same year, TuneCore, the U.S. digital distribution company is acquired by Believe Digital.[20][21]

In 2016, Believe acquired Naïve.[22]

In 2018, Believe finalized the acquisition of the German metal label Nuclear Blast,[23] another German label Groove Attack and took 49% stake in Lili Louise Musique. In September 2018, Believe acquired a 49% stake in French indie label Tôt ou Tard from Wagram Music.

In 2019, Believe acquired Mumbai live event production specialist Entco, and rebranded the company “Believe Entertainment”.[24][25] The same year, Believe acquired three other Indian companies : Bollywood music specialist Venus Music Private Ltd, Entco Music Private Ltd.(production of live events) and Canvas Talent Private Ltd, India-based artist services, development and booking company[citation needed], specialized in services for artists. In the same year, Believe took 49% stake in 6&7 SAS.

In 2020, the company acquired a majority stake (60%) in the DMC label in Turkey, for €18.8 million, a stake in Ircam Amplify, an entity of the Institut de Recherche et de Coordination Acoustique/Musique (IRCAM), and the assets of SoundsGoood, specialized in the creation of playlists on streaming platforms.[26]

In 2021, Believe took a 25% stake in Play Two, France's leading independent music label and a subsidiary of the TF1 group.[27][28][29] The same year, Believe acquired 15% stake in Philippines-based Viva Music And Artists Group,[30][31] 51% stake in French Indie label Jo&Co,[32][33] and a 76% stake in South India-based label Think Music.[34][35]

Awards

In September 2019, the French government identified Believe as one of the 40 most promising French start-ups, with the French Tech Next40 index.[36] In October 2019, Believe was named Europe’s “Allstar” company at the 17th Annual Investor Allstars awards in London.[37]

References

  1. ^ "Digital music company Believe acquires Think Music". Financialexpress. Retrieved 2022-09-06.
  2. ^ Kar-gupta, Sudip; Barzic, Gwénaëlle (2021-05-10). "Digital music company Believe plans Paris stock market debut". Reuters. Retrieved 2022-09-06.
  3. ^ GmbH, finanzen net. "World's Biggest Heavy Music Label Just Got Heavier | Markets Insider". markets.businessinsider.com. Retrieved 2019-11-20.
  4. ^ Kar-gupta, Sudip; Barzic, Gwénaëlle (2021-05-10). "Digital music company Believe plans Paris stock market debut". Reuters. Retrieved 2022-09-05.
  5. ^ Ubertalli, Olivier (2021-07-01). "Believe, la licorne française qui défie les majors de la musique". Le Point (in French). Retrieved 2022-09-05.
  6. ^ "PLAY TWO ANNONCE UN PARTENARIAT STRATÉGIQUE AVEC BELIEVE". groupe-tf1.fr (in French). 2021-11-03. Retrieved 2022-09-05.
  7. ^ "Believe prend le contrôle de l'indien Think Music". Capital.fr (in French). 2021-11-29. Retrieved 2022-09-05.
  8. ^ "Believe buys controlling stake in India-based label Think Music for $14.6m". Music Business Worldwide. 2021-11-29. Retrieved 2022-09-05.
  9. ^ "Believe reinforces leadership in Southeast Asia". The Manila Times. 2021-12-16. Retrieved 2022-09-05.
  10. ^ Gil, Baby A. "Why French music company Believe invested in Viva". Philstar.com. Retrieved 2022-09-05.
  11. ^ "Believe Digital, la pépite française de la musique qui fait de l'ombre aux majors". L'Expansion (in French). 28 May 2015. Retrieved 1 Jun 2021.
  12. ^ "Believe successfully raises €300m in Paris IPO, giving TuneCore owner a market cap of €1.9bn". Music Business Worldwide. 2021-06-09. Retrieved 2022-09-04.
  13. ^ "Believe generated $682m in annual revenues last year, up 30.7% YoY". Music Business Worldwide. 2022-03-17. Retrieved 2022-09-14.
  14. ^ "Believe generated $682m in annual revenues last year, up 30.7% YoY". Music Business Worldwide. 2022-03-17. Retrieved 2022-09-14.
  15. ^ Adam, Nick J. (2021-09-15). "Believe revenues jump 30% in H1 2021 to over $300 million - Music Business Worldwide". TechiLive.in. Retrieved 2022-09-14.
  16. ^ "Believe buys Indian event production company Entco". IQ Magazine. 24 Sep 2019. Retrieved 20 Nov 2019.
  17. ^ Smith, Dylan (3 Aug 2020). "Tunecore, Believe Digital Sued for Massive and Willful Copyright Infringement". Digital Music News. Retrieved 1 May 2021.
  18. ^ "La maison de disques Believe rachète Musicast et se renforce dans la musique urbaine". Les Echos (in French). 2015-12-29. Retrieved 2022-09-06.
  19. ^ Durand, Corentin (2017-07-07). "Believe : pourquoi le géant de la musique numérique derrière Jul et The Blaze lance trois labels". Numerama (in French). Retrieved 2022-09-06.
  20. ^ "Believe Digital, la pépite française de la musique qui fait de l'ombre aux majors". LExpansion.com (in French). 2015-05-28. Retrieved 2022-09-08.
  21. ^ "Tunecore launches in the UK, charging £19.99 per album upload". Music Business Worldwide. 2015-09-01. Retrieved 2022-09-08.
  22. ^ "Le label de musique Believe revoit ses ambitions en Bourse à la baisse". BFM Bourse (in French). 2021-06-01. Retrieved 2022-09-08.
  23. ^ "Believe : Le groupe d'édition musicale Believe recule en Bourse après une introduction en bas de fourchette". BFM Bourse (in French). 2021-06-10. Retrieved 2022-09-10.
  24. ^ Grace, Anna (2019-09-24). "Believe buys Indian event production company Entco". IQ Magazine. Retrieved 2022-09-11.
  25. ^ Khatri, Bhumika (2019-09-18). "French Startup Believe Sets Up Base In Indian Live Music Market With Entco Acquisition". Inc42 Media. Retrieved 2022-09-11.
  26. ^ "3 things to know about Believe's finances, as it launches IPO at a €2 billion company valuation". Music Business Worldwide. 2021-06-01. Retrieved 2022-09-12.
  27. ^ "PLAY TWO ANNONCE UN PARTENARIAT STRATÉGIQUE AVEC BELIEVE". groupe-tf1.fr (in French). 2021-11-03. Retrieved 2022-09-13.
  28. ^ "Believe acquiert une participation de 25% dans le label Play Two, filiale de TF1". Capital.fr (in French). 2021-11-04. Retrieved 2022-09-13.
  29. ^ "Yahoo fait partie de la famille de marques Yahoo". consent.yahoo.com. Retrieved 2022-09-13.
  30. ^ "Believe acquires 15% stake in Philippines-based Viva Music and Artists Group for $26m". Music Business Worldwide. 2021-12-02. Retrieved 2022-09-13.
  31. ^ Smith, Dylan (2021-12-02). "Believe Acquires 15% of Philippines-Based Viva Music and Artists Group". Digital Music News. Retrieved 2022-09-13.
  32. ^ "Believe prend une participation majoritaire dans Jo&Co". Boursier.com (in French). Retrieved 2022-09-13.
  33. ^ "Believe acquires 51% stake in French indie label Jo&Co". Music Business Worldwide. 2022-01-04. Retrieved 2022-09-13.
  34. ^ "Believe : Prise de contrôle de l'indien Think Music". BFM Bourse (in French). 2021-11-29. Retrieved 2022-09-13.
  35. ^ "Believe prend le contrôle de l'indien Think Music". Boursorama (in French). 2021-11-29. Retrieved 2022-09-13.
  36. ^ Ménage, Gaëlle (18 Sep 2019). "Next40 : Forbes Vous Fait Découvrir Les Pépites De La French Tech". Forbes France (in French). Retrieved 20 Nov 2019.
  37. ^ Investor Allstars (sponsor) (4 Oct 2019). "A celebration of European tech takes over central London". Sifted.eu. Retrieved 20 Nov 2019.
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