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Believe, headquartered in Paris, has acquired a 25% stake in Play Two, one of France’s leading independent labels.
Believe said today (November 3) that the deal will accelerate the digital growth of Play Two, which remains a subsidiary of the TF1 group.
Believe did not disclose the price of the deal, but said, “The transaction values ​​Play Two at just under € 50 million on a 100% basis. “
As a result, it’s fair to assume that for a 25% stake, Believe paid around 12.5 million euros (around 14.5 million US dollars).
Believe said in a press release announcing the agreement that “Play Two will now benefit from all of Believe’s services, especially in terms of distribution”.
The two founders of the label, Sébastien Duclos and Julien Godin, will remain in charge as managers.
As part of the deal, Believe says, a strategic partnership has been struck. Believe said in a statement: “Play Two will be able to leverage the technological innovation and digital expertise that are at the very heart of Believe’s business model to accelerate audience development and monetization of its artists in digital markets. in France and abroad. Synergies will be generated between Play Two’s live performance production structure and the Believe unit (Live Affair) and between the B2B / Brand content structures: Music Lab For Brand for Play Two and the Branding department of Believe.
Play Two artists such as Gims, Vitaa, Hatik, Anne Sila, Vincent Niclo, Tayc, Camelia Jordana, Squeezie, Julien Clerc and Gaëtan Roussel will be added to Believe’s distribution list.
The founders of Play Two, Sébastien Duclos and Julien Godin, declared: “This partnership with Believe is another important step in the growth of Play Two. We have known the Believe teams for a long time and share with Denis [CEO of Believe] and Romain [General Manager of Believe France] the same entrepreneurial culture as well as a shared vision for the future of the music and entertainment industry.
“With the TF1 Group, which is an exceptional partner in the development of our structure, we are now forming a new team with Believe, perfectly suited to the challenges of this rapidly changing market.
“I am convinced that we will work together to accelerate the digital transition of Play Two and open new musical segments to digital thanks to our shared expertise and innovation. “
Romain Vivien, Believe
Romain Vivien, Managing Director of Believe France, declared: “I am delighted to associate Believe with the independent French label No. 1, founded and managed by Sébastien and Julien, two talented entrepreneurs with a long history of success, and at the same time with the leading French media group TF1, which has enabled Play Two to accelerate its development and become a key player in the market.
“I am convinced that we will work together to accelerate the digital transition of Play Two and open new musical segments to digital thanks to our shared expertise and innovation. “
Believe today released its third quarter financial results for the three months to the end of September.
The company’s revenue for the quarter increased 26.8% year-over-year on an organic basis to € 144 million.
The Believe group’s turnover in the first nine months of 2021 amounted to 404 million euros, an organic increase of 28.9% on an organic basis.
Believe is listed on the Euronext Paris stock exchange in June.
The company currently has a market capitalization of 1.716 billion euros, or approximately $ 2 billion.Music trade around the world
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