Why Believe just bought 49% of one of France’s leading indie labels (and why it’s not worried about Spotify’s user uploads).

According to the Paris-born firm’s CEO, Denis Ladegaillerie, just 30% of Believe’s revenues this year will be derived from pure distribution deals struck with artists and labels.

The other 70%, he says, will come from “artist services and artist development” agreements, whereby Believe invests in recording and marketing costs for artists – after which profit is typically split with the act in question (who also keeps hold of their copyrights).

Last week, Believe executed an interesting acquisition, buying a 49% stake in Tôt ou tard, the second biggest independent label in France behind Because Music.

Sources tell MBW that the pricetag paid to Tôt ou tard owner Wagram Music would have cost Believe a seven-figure sum.

Source: www.musicbusinessworldwide.com

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