Paris-headquartered Believe [193 articles]”>Believe has acquired a 25% stake in Play Two, one of France’s leading independent labels.

AWAL girlinred

Believe said today (November 3) that the deal would accelerate the digital growth of Play Two, which remains a subsidiary of the TF1 group.

Believe didn’t disclose a price for the deal, but did say: “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 (approximately USD $14.5 million).

Believe said in a media release announcing the deal that “Play Two will now benefit from the whole range of Believe’s services, particularly 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 agreement, says Believe, a strategic partnership has been agreed. Believe said in a statement: “Play Two will be able to leverage the technological innovation and digital expertise which are at the very core of Believe’s business model to accelerate the development of audiences and monetization of its artists on the digital markets in France and abroad. Synergies will be generated between the live show production structure of Play Two and the unit of Believe (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 add to Believe’s distribution roster.

Play Two founders Sébastien Duclos and Julien Godin said: “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 common vision of the future of the music and entertainment industry.

“With the TF1 Group, which is an exceptional partner in the development of our structure, we now form a new team with Believe, perfectly adapted to the challenges of this rapidly changing market.”

“I am confident that we will work together to accelerate Play Two’s digital transition and open up new music segments to digital with our shared expertise and innovation.”

Romain Vivien, Believe

Romain Vivien, General Manager of Believe France, said: “I am delighted to associate Believe with the No.1 French independent label, founded and run by Sébastien and Julien, two talented entrepreneurs with a long track record of success, and at the same time with the number one French media group TF1, which has enabled Play Two to accelerate its development and become a key player in the market.

“I am confident that we will work together to accelerate Play Two’s digital transition and open up new music segments to digital with our shared expertise and innovation.”

Believe released its Q3 fiscal results today for the three months to end of September.

Topline revenues at the company in the quarter were up 26.8% YoY on an organic basis, to €144 million.

Believe’s group revenues in the first nine months of 2021 weighed in at €404 million, up 28.9% YoY on an organic basis.

Believe listed on the Paris Euronext stock exchange in June.

The company currently carries a market cap of €1.716 billion, or approximately $2 billion.Music Business Worldwide

Source: Believe buys 25% stake in French indie label Play Two for around $14 million

Believe buys 25% stake in French indie label Play Two for around $14 million - Click To Share

Share on facebook
Share on twitter
Share on reddit
Share on linkedin
Share on email
Share on whatsapp

Other recent press releases

*This is a free press release. All upgraded press releases are ad-free!

Business Economists Expect Persistent Inflation: NABE Survey

A 48-member panel of business economists has sharply raised its expectations for inflation compared to its September forecast, with two-thirds predicting that wage increases will keep inflation higher over the next three years. A survey released on Dec. 6 by the National Association for Business Economics (NABE) shows that its panel of forecasters expects consumer…

Texas School Board Member Publicized Personal Info of Parents Who Challenged Mask Mandate

( Vepar5/Getty Images) A member of the Fort Worth, Texas, school board’s Racial Equity Committee attempted to justify her decision to disclose the personal information of parents who challenged the district’s mask mandate in court. “Some people consider my actions doxxing,” Norma Garcia-Lopez, the committee’s co-chair, told the Fort Worth Star-Telegram. “It’s not doxxing when…

Iberia Commissions $13 Million Solar Plant At Madrid Airport

Photo: Reading Time: < 1 minuteIberia is installing solar panels on its 20,000sq m aircraft engine maintenance hangar at Madrid airport as part of its goal to reach zero net emissions by 2050. The solar field set up on the roof of the engine shop, occupies 10,000 square meters, and generates 80 million kW…