Believe acquires 15% stake in Viva Music and Artists Group

Digital music company Believe announced on December 2, 2021, that it has acquired a 15% stake in Viva Music and Artists Group (VMAG), a leading Philippine music label. The investment totals €23 million.

This strategic partnership deepens the existing relationship between Believe and VMAG, which began in 2019. The collaboration aims to accelerate VMAG's digital growth, develop local artists, and leverage VMAG's extensive music catalog. This move is expected to further solidify Believe's position as a leading player in Southeast Asia, a region identified as the fastest-growing digital music market globally.

VMAG, controlled by Viva Holdings, is described as the largest and oldest music label group in the Philippines. Through this partnership, VMAG and its artists will gain access to Believe's suite of digital services, marketing solutions, and proprietary technology.

Believe has been investing in the Asian market since 2013 and currently operates in 14 territories. The Philippines is projected to become one of the top 20 largest music markets worldwide.