The French company Believe, which helps musicians and labels to establish themselves in the new music streaming market, will go public on the Paris Stock Exchange.
The company is seeking to raise 500 million euros in order to continue its international development.
Believe is already established in 50 countries, and generates 80% of its turnover outside France.
The firm offers solutions to 850,000 artists and labels so that they can optimize their visibility on audio streaming platforms such as Spotify and Apple Music.
It also allows them to improve their presence on social networks, key platforms for capturing a large audience.
Its services are offered to both confirmed artists and strangers looking to gain strength.
For example, it offers young creators the opportunity to publish their songs on major streaming platforms, for € 9.99 per year per song.
Read also: Apple Music pays 1 cent per listening to artists
To swell the audience of an artist, the important
thing
today "
is no longer the partnership with key television channels: what matters is to understand the algorithms of Spotify, the algorithms of Tik Tok
”, Explained the founder and president of Believe, Denis Ladegaillerie, on the sidelines of the announcement.
Jul, Vianney, Petit Biscuit ...
Among Believe's feats of arms, the company contributed to the success of rapper Jul, and is the co-record holder of music sales in France with Johnny Hallyday, according to Denis Ladegaillerie.
Other tricolor darlings such as Vianney or Petit Biscuit have also contributed to the notoriety of the franchise.
With the money that it plans to raise on the stock market, the firm wants to generalize in as many countries as possible in the world a technological and commercial model which has already enabled it to post strong growth in recent years. Before the crisis, the group recorded a profit of 4.6 million euros in 2019. However, it suffered from the planetary confinement which slowed down advertising revenue on major streaming platforms.
