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Fans of the French rapper known as MHD are in shock as they’ve learn that the man who is credited with pioneering afro-trap has just been sentenced to 12 years in prison for a murder he is said to have committed in 2018.
According to The Guardian, the 29-year-old rapper, born Mohamed Sylla, along with five other co-defendants were sentenced to prison for the 2018 incident in which they were accused of ramming a young man with a car before getting out and stabbing him to death. With prison terms ranging from 10 to 18 years, prosecutors say the violence was the result of a gang dispute that turned deadly. Three other men involved in the case were acquitted, but those who were convicted have 10 days to appeal the sentencing.
The Guardian reports:
During MHD’s final statement to the court before it retired to consider its verdict after three weeks of proceedings, he again said he was innocent. “From the beginning, I have maintained my innocence in this case and I will continue to maintain my innocence,” he told the packed court.
On the night of 5 July 2018, 23-year-old Loic K was rammed by a black Mercedes and then beaten up and stabbed by around a dozen people in the French capital’s 10th arrondissement.
MHD, whose real name is Mohamed Sylla, denied having been at the scene, but a local resident filmed the incident from his window and the Mercedes was identified as belonging to MHD.
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The car was found abandoned and burned out in a car park a day after the killing.
Witnesses reportedly pointed out MHD’s presence by describing his haircut and the Puma sweatshirt he was allegedly wearing. This is despite the rapper’s claims that he was not at the scene.
Though MHD’s family, friends and fans are no doubt broken up over this ruling, the lawyer for the victim’s family Juliette Chapelle, said that “a judicial truth emerged despite the law of silence.”
MHD for his part maintains his innocence and will more than likely appeal the sentence.
A government watchdog agency in France has ordered Apple to withdraw the iPhone 12 from the French market, saying it emits levels of electromagnetic radiation that are too high.
The National Frequency Agency, which oversees radio-electric frequencies as well as public exposure to electromagnetic radiation, called on Apple in a statement Tuesday to “implement all available means to rapidly fix this malfunction” for phones already being used.
Corrective updates to the iPhone 12 will be monitored by the agency, and if they don’t work, “Apple will have to recall” phones that have already been sold, according to the French regulator’s statement.
Apple disputed the findings and said the device complies with all regulations governing radiation.
The agency, which is known by the French acronym ANFR, said it recently checked 141 cellphones, including the iPhone 12, for electromagnetic waves capable of being absorbed by the body.
It said it found a level of electromagnetic energy absorption of 5.74 watts per kilogram during tests of a phone in a hand or a pocket, higher than the European Union standard of 4 watts per kilogram.
The agency said the iPhone 12 met the threshold when radiation levels were assessed for a phone kept in a jacket or in a bag.
Apple said the iPhone 12, which was released in late 2020, has been certified by multiple international bodies and complies with all applicable regulations and standards for radiation around the world.
The U.S. tech company said it has provided the French agency with multiple lab results carried out both by the company and third-party labs proving the phone’s compliance.
Jean-Noël Barrot, France’s minister in charge of digital issues, told France Info radio that the National Frequency Agency “is in charge of controlling our phones which, as there are software updates, may emit a little more or a little less electromagnetic waves.”
He said that the iPhone 12 radiation levels are “slightly higher” than the standards but “significantly lower than levels where scientific studies consider there may be consequences for users. But the rule is the rule.”
Cellphones have been labeled as “possible” carcinogens by the World Health Organization’s cancer research arm, putting them in the same category as coffee, diesel fumes and the pesticide DDT. The radiation produced by cellphones cannot directly damage DNA and is different from stronger types of radiation like X-rays or ultraviolet light.
In 2018, two U.S. government studies that bombarded mice and rats with cellphone radiation found a weak link to some heart tumors, but federal regulators and scientists said it was still safe to use the devices. Scientists said those findings didn’t reflect how most people use their cellphones and that the animal findings didn’t translate into a similar concern for humans.
Among the largest studies on potential dangers of cellphone use, a 2010 analysis in 13 countries found little or no risk of brain tumors.
People’s mobile phone habits also have changed substantially since the first studies began and it’s unclear if the results of previous research would still apply today.
Since many tumors take years to develop, experts say it’s difficult to conclude that cellphones have no long-term health risks. Experts have recommended that people concerned about their cellphone radiation exposure use earphones or switch to texting.
A third-party software provider is to blame for a major disruption to a ticket sale for six Taylor Swift shows in France, according to a statement issued by Ticketmaster France. “This morning’s sale was disrupted by an issue with a third-party vendor who is working to resolve the issue as soon as possible,” the company […]
Sacré bleu! Ticketmaster France pressed pause on the presales for four Paris dates and both shows in Lyon for Taylor Swift‘s 2024 European Eras Tour.
“Some of you may be having issues with the site this morning,” the company tweeted on Tuesday morning. “We are working on it and will let you know.”
The four Paris dates at La Défense Arena on May 9, 10, 11 and 12, 2024 were set to go on sale today in two stages, with one sale for May 9 and 10 opening at 9 a.m. local time and another, for May 11 and May 12, due to start at 11 a.m. Sales for the two dates at Lyon’s Groupama Stadium, set for June 2 and 3, were due to begin at 1 p.m.
“We will keep you informed of the new on-sale time as soon as possible,” the company said. “All codes will remain valid.”
As in past presales, fans had to sign up in order to be put into a lottery for code to redeem for a shot at tickets. But shortly after the Paris sale had begun, “winning” fans began having problems and Ticketmaster suspended the presale, citing issues with the site.
Leading up to the sale, the company gave fans an idea of what to expect:
Tickets will be available for purchase via the website for access code holders on July 11, 2023. Tickets will be sold on a first come, first served basis while currently available inventory lasts. It’s a simple, standard purchase process and the steps below will help you navigate your search and purchase.
If you are selected to receive an access code, you will receive an email and two SMS messages the afternoon before ticket sales begins on July 11 2023
The messages will include timing details and a link to where the on-sale will occur, and your unique access code.
Prepare for the sale by creating your customer account in advance if you don’t already have one. Sign-in to your Ticketmaster Account in advance. Know your Ticketmaster password, or reset your password in advance. For a faster checkout, make sure you have a valid credit card with updating billing information in your account.
The company did not respond to a request for details on the nature of the site outage.
Though “July 11” won’t carry the same stain as “Nov. 15” — the date Ticketmaster’s site buckled under the weight of millions of Swift fans trying to purchase initial U.S. Eras Tour dates — it remains another botched sale for a Swift sale for the ticketing giant.
Last week, Swift announced an additional 14 dates for her European trip next year, with Paramore opening all dates. Swift’s Eras Tour launched in Glendale, Arizona on March 17. She plays two nights at Denver’s Empower Field this weekend before heading to Seattle and the San Jose area later in July.
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The death of Nahel Merzouk at the hands of a police officer in France has spurred numerous protests and shed light on deep racial divisions in the country.
According to reports, the 17-year-old of Algerian-Moroccan descent was detained at a traffic stop in Nanterre, a suburb of Paris last week. Video footage shows one of two officers firing a shot through the windshield of the yellow Mercedes as Merzouk pulled forward. Forensics reports showed that one shot killed the Nahel Merzouk, as the car then slammed into the barriers at Nelson Mandela Square. The killing compelled observers to draw comparisons to the death of George Floyd in 2020 as it was caught on video, which was shared widely through social media. “He saw a little Arab-looking kid, he wanted to take his life,” the teen’s mother said to France 5 Television.
The death of Merzouk sparked intense outrage as many took to the streets to protest Merzouk’s killing in cities and towns throughout the country over the next six nights, often clashing with police and resulting in 3,400 arrests. Protests were even reported in French Caribbean territories such as Martinique and Guadeloupe, and even the island of Reunion in the Indian Ocean.
The fury behind the protests also points to how French society and its government have adopted an official stance of colorblind universalism. In fact, it is considered illegal to compile racially-based statistics in the country. Observers point to that stance as the reason decades of systemic racism have been prevalent in a country that welcomed Black American expats such as James Baldwin.
In 2017, the Défenseur des Droits civil-liberties watch group noted that “young men perceived to be Black or Arab” were 20 times more likely to be stopped by police for identity checks, and in 2021 six groups including Amnesty International and Human Rights Watch launched a class-action suit against the French government over its failure to address racial profiling by police.
“For 40, 45 years there have been warning signs about discrimination,” says Abel Boyi, head of the “All Unique, All United” group. The issue has been pointedly addressed by noted authors such as Frantz Fanon, Aimé Césaire, and Léopold Senghor who struck at the colonial underpinnings of France that harmed Black and Brown citizens. “He was a nonwhite person in this country,” university student Syrine Djidi said while at a protest for Merzouk, noting that he was the same age as her brother. “Nonwhite people are targeted by the police.”
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Victor Wembanyama will have all eyes on him after it is widely understood that the French basketball phenom will be selected first overall in the 2023 NBA Draft this summer. On Tuesday, the NBA Draft Lottery concluded with the San Antonio Spurs landing the top pick and NBA fans have plenty to say.
Victor Wembanyama, 19, currently plays for the French professional basketball team Metropolitans 92 of the LNB Pro A. Wembanyama, who is listed at 7-foot-4 although online reports list him at ranges of 7-foot-5 and 7-foot-2, is thought to be the greatest basketball prospect to emerge in quite some time. Despite his long frame, Wembanyama has the dribbling and passing skills of a guard which had every team in the NBA hoping to land the big man.
The good fortune experienced by the Spurs couldn’t have been more timely considering that the team, coached by Gregg Popovich, isn’t the elite team it once was during the David Robinson and Tim Duncan era. Under Popovich’s tutelage, the Spurs won five NBA championships, the last coming in 2014. It should also be noted that the last time the Spurs had the top pick of the draft, they selected Duncan.
With Wembanyama all but certain to be selected by the team, the fortune of the Spurs is expected to change almost immediately. It will be interesting to see how Wembanyama plays alongside the young core of Keldon Johnson, Tre Jones, and Devonte’ Graham.
On Twitter, both Victor Wembanyama and the San Antonio Spurs see their names trending with all kinds of reactions. We’ve got the best of them listed below.
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LONDON — Russia’s invasion of Ukraine in February 2022 led to a rapid exodus of global music companies from Russia. All three major labels say they ceased operations there. So did touring giant Live Nation and streaming platforms Spotify, TikTok, Deezer and Amazon Music. Paris-headquartered Believe, however, publicly pursued a different path, and a year later is still operating in Russia — releasing, distributing and promoting new music by local artists and labels on Russian streaming platforms Yandex. Plus, VK Music and Zvuk.
Executives at rival music companies have privately expressed outrage, accusing Believe of exploiting the sudden breakup of Russia’s music market — the 13th largest in 2021, generating $328 million in revenue that year, according to IFPI — to gain market share in the absence of Western competitors.
Denis Ladegaillerie, Believe’s founder and CEO, denies that charge and says the major labels and platforms are being hypocritical for criticizing how the French company is operating in Russia. Believe’s ongoing presence in the country “is really not an economic decision,” he tells Billboard in a rare interview addressing the issue. “We are not looking at building or growing or extracting value [in Russia].”
Following the start of hostilities, Universal Music Group, Sony Music Entertainment and Warner Music Group said they stopped distributing and promoting new releases in Russia. If new titles are being made available on local streaming services, the majors say, it’s through piracy.
The Believe CEO is skeptical about those assertions and defends his company’s continued presence in the isolated nation. “What I see is that all global artists are still available on all local platforms [in Russia],” Ladegaillerie says, noting that YouTube and Apple Music are also still active in the market, albeit in a reduced capacity. “So, my question is: ‘You’ve pulled out of Russia? Really?’”
After Billboard discovered in December that Russian streaming service VK was allowing users to upload albums from major label artists like Taylor Swift (UMG’s Republic Records) and Red Hot Chili Peppers (Warner Music), all three major labels declined to comment; labels body IFPI did not condemn the apparent copyright violations, nor confirm if they or its label members had issued takedown orders to VK.
Ladegaillerie says Believe, for its part, has “very strictly” abided by all international sanctions placed against Russia since the start of the war — “both in law and spirit” — and has halted all new investments in the now-isolated country. “Our No. 1 priority, both in Russia and Ukraine, has been to protect our teams locally and support our artists,” he says.
Despite those claims, Believe’s revenue from Russia, where it retains just over 40 employees, has been growing. Combined revenue from Russia and Ukraine rose 9.9% to 57 million euros ($62.5 million) in 2022, according to the company’s year-end financial figures. (That was 7.5% of Believe’s overall revenue.)
While the economic sanctions against Russia were meant to starve the country of funds and further isolate it from the world financial system, they have been limited in scope and hundreds of Western companies continue to operate in the country. Global music companies have not completely extracted themselves from the country, either. Universal Music and Warner Music — which had the largest presence in Russia among the majors, with almost 100 employees — continue to pay their staff and maintain offices there, although they say those offices have been effectively closed since the war started.
In September, Sony Music announced it had decided “to exit the Russian marketplace completely” and was transferring its Sony Music entity there to a fully independent local company that would only represent locally signed artists. “As the war continues to have a devastating humanitarian impact in Ukraine, and sanctions on Russia continue to increase, we can no longer maintain a presence in Russia, effective immediately,” Sony Music said in a statement at the time.
YouTube continues to operate in Russia in compliance with U.S. sanctions but has suspended ads and monetization features (Russian creators can still make money from ads and other monetization products shown to users outside of the country). The Russian subsidiary of YouTube parent company Google filed for bankruptcy last year after authorities seized its bank account, making it impossible to pay employees, suppliers and vendors, a YouTube spokesperson tells Billboard.
Apple Music is still available in Russia, although there are fewer subscription payment options, as MasterCard and Visa cards issued by Russian banks can no longer be used to pay for subscriptions. Music from the major labels that left Russia is not available. (An Apple Music spokesperson did not reply to a request for comment.)
The French government of President Emmanuel Macron, for its part, has supported Believe’s decision to “maintain links” with Russia, Ladegaillerie says. That rings true for other French companies, which established deep ties with Russia in the wake of the Cold War. In March, French retailer Auchan said it planned to open a new store in Russia, doubling down on its brick-and-mortar presence in the market. And auto maker Renault, which is 15%-owned by the French state, has been scrambling to restart its assembly lines in Russia, where it owns the country’s biggest car maker, The Wall Street Journal reported.
In fact, French companies are among Russia’s biggest foreign employers, providing more than 150,000 jobs across a range of sectors that include energy, food products and wholesaling, according to figures from the French Economy Ministry.
The situation “is not black and white, it’s grey,” Ladegaillerie says. He identifies Believe’s humanitarian support for Ukraine — which includes donations and regularly publishing a playlist of Ukrainian artists — as part of the “difficult” balance his company is trying to maintain in Eastern Europe. “We realized that different countries have different perspectives on the situation but that’s really the line that we are trying to navigate.”
Additional Reporting By Vladimir Kozlov
LONDON — French music company Believe’s recent investments in Europe, Asia Pacific and Africa helped boost digital sales across its key markets and drive overall revenues up 22% from January through March, despite a slowdown in ad-funded streaming revenue.
The company reported Thursday (April 27) that revenues grew 22.2% to 198.6 million euros ($218.9 million) compared to the prior year’s quarter. The Paris-headquartered company’s premium solutions business — which includes label services, marketing, distribution, promotions and sync — rose 23% year-on-year to 186 million euros ($205 million), while its automated solutions, which includes the TuneCore distribution platform, increased 11.2% to 12.7 million euros ($14 million).
Digital revenue also grew by 22.2% during the quarter, with non-digital sales up 21.8%. Believe didn’t provide financial figures for either market segment, nor an indication of overall net profit or loss for the quarter. The company’s shares, traded on France’s Euronext, fell 2.41% on Thursday to close at 9.70 euros ($10.70).
The company said ad-funded streaming revenue slowed to single digit growth at the start of the year — in line with the challenging global advertising market — but didn’t report financial values or the percentage increase.
Non-digital revenue benefitted from merchandising, branding and live activities in France and India, as well as a film project in Turkey, which Believe said collectively offset the fall in physical sales, most notably in Germany.
Growth of Believe’s core digital business, which focuses on markets and music genres where artist promotion and marketing are predominantly online, was driven by the global rise in paid music steaming and the company’s expanding international portfolio of artists and labels, CEO and founder Denis Ladegaillerie said during Thursday’s earnings call.
Recent investments include partnerships with Filipino label Viva Music and Artists Group (VMAG), India-based imprints Think Music and Panorama Music, French pop label Structure and Germany-based Madizin Music. Last month, Believe acquired U.K.-based publisher Sentric from Switzerland-based Utopia Music in a €47 million ($51 million) deal that marks the French company’s first major entry into the publishing industry. (Sentric is expected to add about 3% to annual revenue growth, the company said Thursday.)
Notable Believe artist signings cited include Thai acts TimeThai and Reinizra, Belgian rapper Hamza and a new multi-album deal with French hip-hop star Jul.
Globally, revenue from Asia Pacific and Africa, which Believe groups together in its earnings report, grew 40% year-on-year to 56.1 million euros ($61.8 million), representing 28.2% of the company’s earnings, compared to 24.7% in the first quarter of 2022.
Within the Asia Pacific and Africa region, Believe said it recorded strong growth in India, Greater China and Southeast Asia, driven by its growing roster of local artists and labels, sustained investment in on-the-ground teams and the rollout of its full label and artist solutions offer in most markets.
Europe, excluding France and Germany, recorded a revenue increase of 21.1% to 54.4 million euros ($60 million), representing around 27% of total revenue.
Believe’s operations in the Americas rose 25.2% to 29.4 million euros ($32.4 million), representing 14.8% of all income, with the company saying that it had a particularly strong sales quarter in Latin America, most notably in Brazil.
The company’s two strongest individual markets, France and Germany, also grew by 13.2% to 32.1 million euros ($35.4 million) and 3.7% to 26.6 million euros ($29.3 million), respectively. France generates 16.2% of the company’s total revenue, while Believe said its performance in Germany was impacted by a “strong decline in physical sales linked to the lowered exposure to physical sales-heavy contracts.”
Over the past 12 months, Believe has made significant moves into the dance music sector with the launch of global label solutions brand b:electronic, which has signed deals with electronic music imprints Hospital Records and Rinse in the U.K.; Big Top Amsterdam, Blackout Music and Mixmash in the Netherlands; and Cercle and Roche Musique in France.
On Wednesday, the company announced that its TuneCore distribution platform had teamed up with Beatport, enabling TuneCore artists to distribute their songs on the world’s largest electronic music platform for working DJs.
“This great start to the year, marked by strong operational milestones and solid organic performance, shows that we are well on track to deliver another year of profitable growth,” Ladegaillerie says in a statement. Believe’s increasing global reach combined with a “successful investment strategy” was enabling “artists and labels to thrive in the digital ecosystem,” he says.
Ladegaillerie says the company is looking to make further acquisitions in the year ahead. Believe, which operates in more than 50 countries and has over 1,600 employees worldwide, says it expects to generate positive free cash flow for the full year and expects to record organic revenue growth of around 18% in 2023. The company says it will “monitor its investment pace and focus on improving efficiency” to reach an adjusted EBITDA (earnings before interest and taxes, depreciation and amortization) margin of 5% for fiscal year 2023.
LONDON — French music company Believe is making inroads into the publishing business by acquiring U.K.-based publisher Sentric, which represents more than four million songs and over 400,000 songwriters in more than 200 territories.
Under terms of the deal announced on Thursday (March 30), Believe is acquiring full ownership of Sentric Music Group from Utopia Music, with the transaction valuing Sentric at €47 million ($51 million), Believe says in a press release.
(Utopia Music declined to comment).
Believe founder and CEO Denis Ladegaillerie says in a statement that the takeover of Sentric is the company’s “first step” in the “roll-out of a global and comprehensive publishing offer.”
It is the second time in just over a year that ownership of Liverpool-based Sentric Music Group — which also has offices in London, Hamburg, New York and Los Angeles — has changed hands.
In February of 2022, Utopia, a Zug, Switzerland-headquartered fintech company, acquired Sentric amid a frenetic buying spree that saw Utopia acquire 15 companies over a two-year period.
Sentric’s existing leadership team, led by CEO Chris Meehan, will continue to lead the business, says Believe. Paris-based Believe, which has 1,650 employees in more than 50 countries, says the combination of its digital music expertise and global network with Sentric’s industry-leading technology will develop “a comprehensive solution for songwriters and publishers at all levels.”
Believe’s move into publishing follows recent investments the company has made in Europe, India and Asia to further expand its global footprint. They include partnerships with French pop label Structure, Indian label Panorama Music and Germany-based Madizin Music.
Last year also saw Believe make strong gains in some key European countries and eat into the major record labels’ share of the recorded music market. In France, Believe says it was the second-largest music company in digital local repertoire in 2022. In Germany, it claims to have been the third-largest recorded music company for local repertoire in the streaming market, and the market’s second-largest company in hip-hop.
In total, Believe, which acquired the TuneCore distribution platform in 2015, worked with 1.3 million artists last year, either directly or through record labels, with annual revenues rising 31.8% year-on-year to 760.8 million euros ($723.5 million), according to the company’s year-end financial results, published earlier this month.
The company says its acquisition of Sentric will help drive future growth by enabling it to capture a slice of the growing music publishing market. In 2021, global publishing royalties to songwriters and composers grew by 7.2% to €8.5 billion ($9.2 billion), according to the International Confederation of Authors and Composers Societies’ (CISAC).
The Sentric deal also strengthens Believe’s TuneCore business offering, which provides worldwide digital distribution to independent and self-releasing artists. Believe says 23% of TuneCore’s subscribers already use Sentric’s publishing service. Moving forward, says Believe, Sentric will offer publishing services to all clients within the Believe Group.
“The growth and digital transformation of the songwriters’ market is opening-up many opportunities,” says Ladegaillerie.
For Utopia Music, the future appears cloudier with its sale of Sentric following a period of intense change at the fintech company.
In November, Utopia cut its workforce by about 20%, or about 230 jobs, followed two months later by CEO Markku Mäkeläinen exiting the company and founder and executive chairman Mattias Hjelmstedt taking over as interim chief executive. In February, Utopia said it had sold U.S.-based music database platform ROSTR — which has a directory of artists, managers, booking agents and record labels — back to ROSTR’s founders for an undisclosed sum.
At the time, Hjelmstedt told Billboard that the sale of ROSTR was part of a company-wide refocus on its core financial services business and that the company had recently completed a fresh investment round. (He declined to discuss the size of investment or investors).
However, on Wednesday, Scandinavian news outlet Breakit reported that some Utopia employees have recently gone unpaid and the company’s Swedish arm, Utopia R&D Tech, owes 8 million SEK ($770,000) to the Swedish tax authorities. (Music Business Worldwide was the first to report Breakit‘s story).
In response, a spokesperson for Utopia told Billboard that the company’s “strategic transition” was in response to “current changes in the market landscape,” adding that it is focusing on profitability and growth.
“It has not been an easy journey, but we are very positive about Utopia’s future and look forward to continuing what we are here to do — support the music industry with digital solutions for managing, monitoring, and processing royalties, and distributing the music we all love to listen to,” the Utopia rep said.
Annual revenues for French music company Believe grew 31.8% to 760.8 million euros ($723.5 million) in 2022 as the company capitalized on investments and expansion in Europe, India and China. Digital sales accounted for 92% of Believe’s revenue while non-digital sources represented just 8%.
The company’s premium solutions segment grew 31.6% to 712.6 million euros ($677.7 million). Automated solutions, which includes the TuneCore distribution platform, improved 34.5% to 48.2 million euros ($45.8 million). TuneCore’s launch of an “unlimited pricing” plan in 2022, which allows artists to distribute an unlimited amount of music for a fixed annual fee, was “extremely successful and translated into an acceleration of growth,” CEO Denis Ladegaillerie said during Wednesday’s earnings call.
“We ended 2022 strongly delivering above our IPO commitments both operationally and financially for the second year in a row,” Ladegaillerie said in a statement. “In 2022, as we have done each year since 2005, we did what we said we would do … or better. We grew our market share; we improved profitability; we generated significant cash flow from our operations.” Free cash flow was 52 million euros ($49.5 million), an improvement from negative 30.7 million euros in 2021.
Believe also revealed that it invested in French pop label Structure, which it called “a new French pop label partnering with two successful producers, behind the recent success of several multi-platinum French pop artists.” It additionally noted an investment in Madizin Music, “a German well-known brand managed by two renowned producers, composers, and entrepreneurs,” as well as an exclusive partnership with Panorama Music, a new Indian label founded by a Bollywood film producer.
Digital revenues improved 34.7% organically as Believe served an additional 200,000 artists, to 1.3 million, either directly or through record labels. In France, Believe was the second-largest music company in digital local repertoire in 2022. Believe was the third-largest recorded music company in Germany “on local repertoire in the streaming market,” and the market’s second-largest company in hip-hop. The company pointed to the chart success of TuneCore artist Theo Junior and Milky Chance, who amassed 1.2 billion streams in 2022 on the strength of the track “Stolen Dance.”
In Asia, Believe has invested in India and Southeast Asia and now has about 80 people spread throughout five offices in China. “The level of activity remained sustained throughout the year as the digital monetization increased in Greater China, which led to the signings in Premium Solutions of more than 300 labels and above 250 artists directly,” the company said.
Looking forward to 2023, Believe expects to post organic revenue growth of 18%, improve its adjusted EBITDA margin to between 5% and 7% and again be cash flow positive. “In 2023, we will continue our profitable growth strategy: invest in our teams to grow market share, innovate in audience development products for our artists and labels, and further drive operational efficiencies through technology and scale to increase profitability,” said Ladegaillerie.