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Business News Deals Labels & Publishers
Believe buys into French indie Play Two
By Chris Cooke | Published on Thursday 4 November 2021
Believe has acquired a 25% stake in French independent music company Play Two, which is a subsidiary of French media firm TF1 Group.
As well as a label – which will tap into Believe’s distribution network – Play Two also has live and brand partnership operations, which will now work in tandem with the live and brand units at Believe. The alliance, the two firms say, “will reinforce Believe’s presence in France and accelerate the digital growth of Play Two”. The Play Two business will continue to be led by its founders Sébastien Duclos and Julien Godin.
Confirming the deal, Romain Vivien, General Manager of Believe France, says: “I am delighted to associate Believe with the number one French independent label, founded and run by Sébastien and Julien, two talented entrepreneurs with a long track record of success, and at the same time with the number one French media group TF1, which has enabled Play Two to accelerate its development and become a key player in the market”.
“I am confident”, he goes on, “that we will work together to accelerate Play Two’s digital transition and open up new music segments to digital with our shared expertise and innovation”.
Meanwhile, Duclos and Godin add in a joint statement: “This partnership with Believe is another important step in the growth of Play Two. We have known the Believe teams for a long time and share with [Believe CEO] Denis [Ladegaillerie] and Romain the same entrepreneurial culture as well as a common vision of the future of the music and entertainment industry”.
“With the TF1 Group”, they continue, “which is an exceptional partner in the development of our structure, we now form a new team with Believe, perfectly adapted to the challenges of this rapidly changing market”.
Now publicly listed on the Euronext stock exchange in Paris, Believe yesterday also published its financial report for quarter three of 2021. Revenues grew 27% in what was, the company said, a “very dynamic Q3 driven by Believe’s attractivity to artists and labels”. Which is good news, because, as well all know, success is all about achieving attractivity.
