Distributor Believe isn’t publishing its financial results for 2022 until mid-March, but it’s pulling a stat out early to trumpet its success last year.
The company says that it beat the milestone of €1bn of annual digital music sales (i.e. streaming and download revenues) in 2022.
Its press release did not offer further details in terms of figures, functioning more as a demonstration of clout, accompanied as it was by laudatory quotes from YouTube’s Lyor Cohen, Spotify’s Jeremy Erlich and Amazon Music’s Rishi Mirchandani.
We can look back to Believe’s annual results for 2021 however, when the combined digital music sales of its two divisions were €850.4m, to get a sense of the year-on-year growth in 2022: at least 17.6% depending on how far beyond €1bn Believe’s digital sales grew last year.
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