Paris, OCTOBER 2 2008 â€“
One year after completing a first round of funding in the amount of $3 million from XAnge Private Equity, BELIEVE DIGITAL, the leading European digital label, announces that it has acquired MTunes, a leading German digital distribution company and raised $6.5 million from Xange and Ventech in its second round of financing.
With these two operations, Believe Digital strengthens its leadership position as the only player with local A&R, digital marketing and promotion teams in all key European markets and the financial capacity to develop new innovative digital services.
The combined company, which will now operate under the Believe Digital name, will leverage, for the benefit of its artists and labels:Â A unique catalogue of best-selling artists and developing talents, including
international artists such as Umberto Tozzi, MC Solaar, Barbara Hendricks, DJ Cam, Ozark Henry, Soko, Ennio Morricone, Bob Sinclar, VNV Nation, Emilia, Blowfly, D.O.N.S. or Antoine Clamaran;
A team of 50 employees dedicated solely to digital distribution, digital promotion and digital marketing with offices in all key European markets and the United States;
An innovative digital distribution and digital marketing technology supporting a distribution and marketing network of over 500 digital music stores, that includes all major music stores (iTunes, Amazon, Napster, VirginMega, MusicLoadâ€¦) and mobile services (Vodafone, SFR, Orange, Telecom Italiaâ€¦), as well as the largest network of specialty stores (Beatport, Juno, Traxsource, DJDownload,
A proven A&R and digital marketing expertise that has lead to 10 top 1 digital single sales in the past year only including AaRON, Soko, Max GazzĂ¨, MC Solaar, Maurizio Cinesi, Barbaraâ€¦ and more than 50 top 20 album sales in the past six months only.
All of these services are now being combined to offer Believeâ€™s artists and labels the highest level of digital distribution, promotion and marketing services in a new digital music world.
â€śThis combination clearly positions Believe Digital as the only digital player with a strong presence in all key European markets, allowing us to provide superior service to all our artists and labels on a pan-European basis. With a fantastic team of 15 dedicated to A&R, marketing and promotion in Germany, we now have a strong ability to coordinate distribution, promotion and marketing on a pan-European basis and globally for our artists and labels. As the digital market is international in nature, we are very excited by the new opportunities this opens up for our artistsâ€ť declares Denis Ladegaillerie, president and founder of Believe.