Believe Digital, which describes itself as a digital record company, has taken advantage of a new financing round staged by Ventech (€3 million) and Xange-Private Equity (€1 million) to acquire its Germany-based counterpart MTunes.
Denis Ladegaillerie, Believe Digital’s Chairman and founder, explained that these moves would enable the company to accelerate its international development. He added that these operations underlined the trust placed in the Believe Digital team and its capacity to develop new services for artists at the outset of the digital era, also to invent a new relationship with these artists around a virtuous business model for all parties.
With over 150,000 songs in catalogue before the acquisition of MTunes and relations with over 500 music download platforms, Believe Digital is banking on its expertise in distribution as well as promotion to attract independent artists.
Believe Digital has been instrumental in the success of titles by AaRON, Soko, Max Gazzé, MC Solaar, Maurizio Cinesi and Barbara, who feature amongst the year’s “digital” best-sellers.