Believe has signed a strategic partnership with Romania-born Global Records, which is claimed to be the biggest independent music company in Central and Eastern Europe.
As part of the deal, Believe has acquired a 25% stake in Bucharest-headquartered Global Records, which has offices in Romania, Germany and the US.
Believe said on Monday (July 8) that this strategic partnership “falls in line” with its “blueprint strategy to focus on music genres where artist development and music consumption are digital”.
It also expands Believe and Global Records’ existing relationship, which, Believe said, has led to Global Records’ territorial expansion and catalogue development since 2016.
Believe’s investment in Global follows the confirmation on June 24 that 94.99% of Believe’s share capital is now owned by a consortium consisting of EQT X, TCV, and Believe founder and CEO, DenisDenis Ladegaillerie.
Speaking exclusively with Music Business Worldwide last month, Ladegailleriesaid that Believe is planning to spend EUR €200 to €300 million per year on acquisitions to grow its global business.
Believe notes that Global achieved over 6 billion streams across all platforms in 2023 and over 20 billion streams for its global catalog to date.
Amongst the label’s top artists are INNA, Minelli, Carla’s Dreams, Antonia, Holy Molly, DJ Project, Irina Rimes, The Motans, Alina Eremia, Olivia Addams, and others.
Global recently launched a new Los Angeles-based subsidiary called Honua Music Group following its acquisition of independent US music publisher Honua Music.
The music company, founded by Ștefan Lucian in 2008, also recently expanded into Germany, the world’s fourth-largest recorded music market, with a new office and studios in central Berlin.
Ștefan Lucian told MBW in May that the company “is aiming for [annual revenue of] over €50 million (approx $54m at current exchange rates) in 2024.
In 2023, Global’s annual revenues surpassed €33 million ($35.7m at the average annual exchange rate published by the IRS).
“Believe and Global Records share a common independent mindset, entrepreneurial culture and commitment to developing local artists in the digital space, with expertise, respect, fairness, and transparency.”
Denis Ladegaillerie, Believe
Denis Ladegaillerie, Founder & CEO, Believe, said: “Believe and Global Records share a common independent mindset, entrepreneurial culture and commitment to developing local artists in the digital space, with expertise, respect, fairness, and transparency.
“I am thrilled that our long-term successful collaboration has led to this strengthened strategic partnership and I am convinced that together we will build a global leader in dance music, one of the few truly digital and international music genres today.”
“Strengthening our partnership with Global Records made a great deal of sense, as it brings together our very complementary set of expertise.”
Viktoria Siniavskaia, Believe
Viktoria Siniavskaia, Believe’s President META, East & Southern Europe, Americas, added: “Strengthening our partnership with Global Records made a great deal of sense, as it brings together our very complementary set of expertise.
“Together, we have already accomplished tremendous successes and I am very confident that this strategic partnership will allow Global Records to continue its expansion and meet its ambition to become a global leader in dance music.”
“It’s been honor to work with Ștefan Lucian and Global Records’ team in the past seven years, first locally in Romania, then in Germany and beyond.”
Liubov Kevkhaian, Believe
Liubov Kevkhaian, Believe’s Managing Director, Central & Eastern Europe, said: “It’s been honor to work with Ștefan Lucian and Global Records’ team in the past seven years, first locally in Romania, then in Germany and beyond.
“I very much look forward to this new chapter in our successful partnership and common history, one that will undoubtedly see the rise of countless talented dance artists to the global stage thanks to our complementary expertise and vision.”
it was a straight forward decision to choose Believe as our partner because we both believe in the future of independent music and we share the same passion and love for the artists and the content they create.”
Ștefan Lucian, Global Records
Ștefan Lucian, CEO, Global Records, said: “This partnership signifies a bold step towards our vision for the future of music and entertainment, and by leveraging our combined resources we will offer to our artists and talents the same level of services and performance as any top record label be it major or independent.
“For us it was a straight forward decision to choose Believe as our partner because we both believe in the future of independent music and we share the same passion and love for the artists and the content they create.”Music Business Worldwide
The best of MBW, plus the most important music biz stories on the web. Delivered for FREE, direct to your inbox each day.
