Believe reinforces its leadership position in
with the acquisition of Think Music, a leader in
Since entering the market in 2013, Believe India has become one of the leading players of the Indian digital music market with offices in 7 regions and 171 employees through organic growth and acquisitions. The Group now operates the full range of solutions from TuneCore to Artist Services to develop local independent artists in one of the world’s fastest growing recorded music market (expected to become a top 10 market globally by 2027).
Believe has been an early mover into the original soundtrack market, India’s largest digital music market segment, providing digital go-to-market solutions to Bollywood music labels. One of the key milestones of Believe’s strategy was the acquisition of Venus in 2019 (renamed Ishtar in 2021) which encompasses one of the largest catalog of original Bollywood soundtrack in Hindi. With the acquisition of Think Music, Believe is further strengthening its position in
Think Music is a popular music label in
Think Music and Believe have been commercial partners on a subset of the company’s catalog. This staged acquisition will allow Think Music to accelerate the growth and monetization of its whole catalogue by leveraging Believe’s digital-first approach, back catalogue optimization know-how and technological expertise. Think Music will also be able to leverage Believe’s financial support to expand further its soundtrack acquisition strategy.
The combination of Think Music’s YouTube channel (one of the most popular YouTube Tamil music channels with 11 million subscribers) and Believe’s owned YouTube channels will provide artists with an unparalleled launchpad to an audience of more than 60 million YouTube subscribers, a reach of about 25% of YouTube’s monthly active users in
In addition, Think Music will benefit from Believe’s innovative technologies and expertise to drive video audience development and monetization in short-form video format. Believe was the first global company to sign a deal with
The acquisition of Think Music reinforces Believe attractivity to local artists in
Believe acquires control with an initial 76% stake in Think Music for c. €13 million. The valuation reflects the strong growth of the business. The current management team led by
“We are very excited to extend our relationship with Believe. Believe’s wide array of innovative, digital first solutions combined with Think Music’s relentless focus on providing the best platform to film, non-film and independent artists soundtracks, will create significant value for all stakeholders.” said
"I am delighted to associate Believe with Think Music the leading South Indian film soundtrack label, founded and run by
About Believe
Believe is one of the world’s leading digital music companies. Believe’s mission is to develop independent artists and labels in the digital world by providing them the solutions they need to grow their audience at each stage of their career and development. Believe’s passionate team of digital music experts around the world leverages the Group’s global technology platform to advise artists and labels, distribute and promote their music. Its 1,401 employees in more than 50 countries aim to support independent artists and labels with a unique digital expertise, respect, fairness and transparency. Believe offers its various solutions through a portfolio of brands including TuneCore, Nuclear Blast, Naïve, Groove Attack and AllPoints.
Believe is listed on compartment A of the regulated market of Euronext Paris (Ticker: BLV.PA, ISIN: FR0014003FE9).
www.believe.com
About Think Music
Think Music is a leading music label in the
CONTACTS
Investor Relations Contact
Media Contacts
Kelly Martin - +33 6 63 52 94 74 - kelly.martin@agenceproches.com
Attachment
- Press release - Believe Think Music acquisition -
November 29 2021 - ENG
© OMX, source