Distributor Believe is starting 2022 as it means to go on: acquiring a majority stake in another independent music label. This time it’s French label Jo&Co, in which Believe has taken a 51% stake for an undisclosed amount.
The company focuses on ‘pop and mainstream music’ with signings including Claudio Capéo, Hoshi, Les Frangines and Gjon’s Tears. This is part of a run of similar deals for Believe, including its acquisition of a 25% stake in another French indie label, Play Two, last November.
Believe also bought a 76% stake in Indian label Think Music later that month, and a 15% stake in south-east Asian label Viva Music and Artists Group in December.
Believe has also said that it expects to see at least 27% growth for its organic revenues in 2021, although it has not yet announced its financial results for last year.