It’s nearly two and a half years since distributor Believe was being tipped for an acquisition by Sony Music to the tune of $355m-$444m. The deal never came to pass, and that’s looking like a good decision for Believe now.
Reuters reported yesterday that the company is preparing to go public in 2021, with an IPO that could value it at €2bn ($2.4bn). “The company is working with Rothschild on the potential listing, which could take place in Paris or New York,” claimed Reuters, although Believe has not commented on the report.
Believe’s boss Denis Ladegaillerie delivered a Midem keynote in June this year outlining his views that the coming decade will be a good one for independent distributors.
“2010 to 2020, the headline was the rise of streaming. 2020 to 2030, I think the headline is going to be the rise of local independent artists,” he said.