Business

As part of its strong growth strategy in China, Believe renewed its deals with NetEase Cloud Music and Tencent Music Entertainment

Believe
https://www.believe.com/edito-press-release/part-its-strong-growth-strategy-china-believe-renewed-its-deals-netease-cloud

Paris, France – Thursday, 28 April 2022. Believe, one of the world’s leading digital music companies, announces the renewal of its deals with Chinese digital platforms Tencent Music Entertainment (TME) and NetEase Cloud Music, thus strengthening the wide range of services it provides to its labels and artists locally.

Believe has been a long-term partner of both platforms from early stages and the renewed deals will result in wider opportunities to develop its local and international artists on the platforms, notably as Believe became one of the first companies to make available daily streams statistics from TME and NetEase Cloud Music, thus allowing its labels and artists to monitor their performance on the platforms in real time.

Sylvain Delange, Managing Director, APAC at Believe, said, “We are thrilled to have renewed our deals with both TME and NetEase Cloud Music. China is one of the most domestic music markets in the world, with a strong consumption of local artists, by local audiences on local platforms, which could not be more aligned with Believe’s vision and core values of supporting local acts in their own markets. I’m very excited by the opportunities these partnerships will unlock for our labels and artists, allowing them to reach new wider audiences, and very much look forward to growing our business in China even further in the future.”

Operating in the country since 2016, Believe accelerated massively its investment in 2018 as the market matured and was one of the first international companies to sign distribution deals with local platforms, to significantly invest in local teams, as well as to develop its presence across the market’s largest cities. Believe now represents thousands of artists and hundreds of labels locally.

This long-term approach has allowed Believe to strengthen its local expertise to help its labels and artists reach significant levels of success. Among them, Chinese singer Young Captain, one of Believe’s Artist Services key clients in China, has grown his fanbase from 50K to 1 million on TME, with a record of 200 chart entries on TME, and from 300K to 2.7 million on NetEase Cloud Music to date since he started releasing music through Believe in May 2021, including his album "Young Captain's Music World" and multiple singles.

In the past decade, the Chinese music industry has undertaken a profound change towards a more structured ecosystem supporting music creation, fighting against piracy and offering greater transparency. Alongside players such as TME, NetEase Cloud Music and ByteDance, Believe has been at the forefront of this evolution, accompanying the switch of the Chinese music market toward a sustainable business model through its licensing approach and philosophy of supporting local artists, at all stages of their careers, with respect, expertise, fairness and transparency.

Tencent Music Entertainment (TME) is China’s leading online music entertainment platform also offering music and music-centric social entertainment services to over 800 million users through mobile apps such as QQ Music, Kugou Music, Kuwo Music and WeSing. NetEase Cloud Music is one of the fastest-growing music platforms in Chinese Mainland, a service launched in 2013 with 182.6 million monthly active users in 2021.


About Believe

Believe is one of the world’s leading digital music companies. Believe’s mission is to develop independent artists and labels in the digital world by providing them the solutions they need to grow their audience at each stage of their career and development. Believe’s passionate team of digital music experts around the world leverages the Group’s global technology platform to advise artists and labels, distribute and promote their music. Its 1,430 employees in more than 50 countries aim to support independent artists and labels with a unique digital expertise, respect, fairness and transparency. Believe offers its various solutions through a portfolio of brands including TuneCore, Nuclear Blast, Naïve. Groove Attack and AllPoints. Believe is listed on compartment A of the regulated market of Euronext Paris (Ticker: BLV. ISIN: FR0014003FE9).

www.believe.com