Just four months after entering the Japanese market, Believe announced on Friday the launch of 'Playcode', a new distribution unit dedicated to the fast-growing local hip-hop scene.

The digital music specialist explains that it will be accompanied in the project by rapper ¥ellow Bucks, whose track 'Yessir' has racked up over 36 million views on YouTube and 25 million listens on Spotify.

Artists Red Eye and Issei Uno Fifth, very popular on TikTok, will also be associated with the 'Playcode' teams, which will be responsible for supporting artists in their careers, particularly internationally.

In a note published yesterday, Stifel's analysts hailed Believe's strategy, which they believe should enable the company to return to strong growth this year.

"Believe continues to take market share from the major labels thanks to its positioning in emerging markets, particularly in Asia, but also in more mature markets such as France", emphasized the research firm, which has a Buy rating on the stock, with a target of 18.5 euros.

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