Fresh off its successful 2021 stock market launch, Believe was equipped to accelerate its global expansion. But while its international teams were busy opening new doors, the company’s biggest story was unfolding right in its home market.
For years, France had served as Believe’s primary laboratory, a testing ground to prove that an agile, tech-driven company could spot underground movements and nurture overlooked talent. In 2022, that long-term vision reached a defining milestone, as Believe became the leading company for local repertoire in its home market, demonstrating that a new approach to artist development could thrive at scale.
Based on the final sales tally from 2021, Believe announced it had become the second-largest music company in France for annual market share of frontline domestic artist albums. Local-language music was completely ruling the French charts, leaving massive American and British pop superstars trailing in the dust. Leading the charge for Believe were blockbuster releases like rap icon Jul’s Demain ça ira. To secure this position, Believe kicked off 2022 by acquiring a 51% stake in the influential French independent label Jo&Co.
The virtue of strategic patience
You have exceptions […] but, in most cases, it takes three years to develop an artist from zero to the top 10. It takes five years to develop them to become regularly number one Billboard-charted artists. And it takes ten years to make them household names in some countries. And it takes another ten years to get them to become household names in several countries. It’s a long investment and development cycle
Denis Ladegaillerie
Founder & CEO, Believe
This massive chart takeover didn’t happen by accident, nor did it happen overnight. While the digital age moves at lightning speed, Believe’s core philosophy has always been anchored in a deep, patient development cycle.
“You have exceptions and you have accidents where it really goes much faster, but, in most cases, it takes three years to develop an artist from zero to the top 10,” explains Denis Ladegaillerie. “It takes five years to develop them to become regularly number one Billboard-charted artists. And it takes ten years to make them household names in some countries. And it takes another ten years to get them to become household names in several countries. It’s a long investment and development cycle.“
The ultimate artist retention secret
I always say, ‘To sign an artist is a good thing, but to renew them is even more difficult.’ In ten years, across AllPoints, we didn’t lose a single artist. Nobody left. We had the artists, but new artists were also coming through.
Henri Jamet
Managing Director, France
Believe’s early and bold investments in the French hip-hop underground paid off as the genre became the country’s dominant musical force, eventually commanding over half of the entire French music market. But long-term leadership isn’t built on signing breakout talent alone. It’s built on earning artists’ trust and growing alongside them throughout their careers.
In an industry where successful independent acts routinely get poached by large label, Believe achieved a flawless retention record.
“You cannot exclude the fact that French hip-hop is mass market,” says Henri Jamet. “It’s now more than 50% of the market. We have been a leader for years on this. So, of course, it gives us a competitive advantage. I always say, ‘To sign an artist is a good thing, but to renew them is even more difficult.’ In ten years, across AllPoints, we didn’t lose a single artist. Nobody left. We had the artists, but new artists were also coming through. All the artists that came at the start, they stayed. That’s how we managed to get this position.“
Translating streaming innovation into hometown advantage
A major driving force behind this domestic stronghold was the execution of the company’s Artist Services division. Instead of viewing technology as a cold, automated pipeline, Believe used its deep relationships with streaming platforms to ensure that underground French artists were the very first to exploit new digital features, playlist algorithms, and app updates.
“The first years were about being the best in class on everything that was digital marketing,” says Elsa Bahamonde Bourgain. “Of course, we have an excellent relationship with all the streaming platforms. So it was how we translated the innovations happening on the DSP side, on the platform side, and on the products side so that the artists and labels working with us were able to maximise opportunities.“
To make those streaming innovations actually move the needle, the strategy relied on total cultural alignment. The boots on the ground had to speak the exact same language as the regional communities they were breaking.
“When we think about artist services, it is always local,” Elsa Bahamonde Bourgain notes. “We are thinking about how these local artists are interacting locally in the market. With the local imprints that we have launched, the idea is to have a strong local brand that supports artists in the local market.“
Regional frontlines, global mothership
What we try to do at Believe is to have a very local approach to understanding local artists with local teams that discuss and talk the same language – and can connect and create the best possible situation for the artist in their country with their genre of music.
Elsa Bahamonde-Bourgain
President of Artist Services and Label & Artist Solutions,
This setup works because of a highly efficient division of labor. By separating creative cultural work from technical administrative heavy lifting, Believe engineered a system where regional music experts can focus entirely on the artists, while a unified tech mothership handles the global scale in the background.
“What we try to do at Believe is to have a very local approach to understanding local artists with local teams that discuss and talk the same language – and can connect and create the best possible situation for the artist in their country with their genre of music”, Elsa Bahamonde Bourgain explains. “Believe also has a strong central platform that enables local teams to make sure they are concentrating on the music, on the artist. Then centrally we implement everything they need to operate at scale without having to develop anything locally. This is one of our strengths: the fact that we are locally built and centrally and globally empowered.“
The blueprint proven right
This French masterclass unfolded against a background of staggering global growth. The international music market surged 9% to reach $26.2 billion in 2022, with streaming accounting for a commanding two-thirds (67%) of the total pie. By October, an unprecedented 100,000 brand-new tracks were flooding onto streaming services every single day.
In this hyper-competitive ocean of music, Believe was firing on all cylinders. The company revealed it had generated a massive €577.2 million in total revenue for 2021 (up from €441.4 million in 2020), while its DIY division, TuneCore, reported paying out $222 million to artists in 2021 alone.
By the end of 2022, the exact same operational blueprint that conquered France began paying off in other major European territories. Believe shattered industry expectations by announcing it had become the third-largest recorded music company in the German streaming market for local repertoire, sitting comfortably right behind legacy giants Universal and Sony.
Believe’s foundational vision, that the future of music belongs to domestic talent supported by borderless tech, had officially graduated from a bold theory into an undeniable reality.
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Article written by Eamonn Forde. Eamonn Forde is an award-winning music business journalist and author. He writes for The Guardian, Forbes; Music Week, and Music Business Worldwide and several other publications.
