Citi, J.P. Morgan and Société Générale are acting as both Joint Global Coordinators and Joint Bookrunners for the contemplated IPO, while BNP Paribas, Goldman Sachs, HSBC and UBS are acting as Joint Bookrunners. Rothschild & Co. is acting as independent financial adviser to Believe.
Believe was founded by ex-Vivendi exec Denis Ladegaillerie in 2005.
As of 31 December 2020, Believe operated in more than 50 countries with 1,270 employees and provided solutions to more than 850,000 artists (directly or through their labels), representing more than 100 billon Spotify streams and 375 billion YouTube views in 2020.
Believe said today that in 2018-2020 its digital music sales (DMS) increased by over 54% (from €472 million to €728 million). It added that this represented a compound annual growth rate (CAGR) of 24%, versus a CAGR of 7.6% for the recorded music market.
In Q1 2021, said Believe, it generated revenues of €124 million, up 26% versus Q1 2020, or up 23% at current exchange rates.
In 2020 18% of its consolidated revenue was generated in France, 22% in Germany, 28% in the rest of Europe, 14% in the Americas and 18% in Asia, Oceania and Africa.
Believe is well known as the parent company of TuneCore, which is now paying indie artists over $400m every 12 months, according to company figures.
Outside of TuneCore, Believe owns in-house labels including All Points, Naïve and Nuclear Blast.
In June 2015, TCV announced it had led a $60m investment into Believe. |