Believe acquires music publishing platform Sentric

Digital music distributor Believe announced on March 30, 2023, its acquisition of UK-based music publishing platform Sentric. This move signifies Believe's initial step into expanding its offerings into the digital music publishing sector.

The growth and digital transformation of the music publishing market present significant opportunities. Believe aims to leverage its global reach and technological expertise to support artists and rights holders. In 2021, music publishing accounted for €8.5 billion in revenue within the music industry, with digital royalties from streaming services representing the fastest-growing income source.

Sentric operates as an advanced technology platform for managing global music publishing rights. The company functions across more than 200 territories, representing over 4 million songs and 400,000 songwriters, in partnership with over 70 collective management organizations. Sentric's proprietary technology is specifically designed for digital rights management.

Believe stated that the acquisition of Sentric will enhance its services, particularly for existing TuneCore clients, and will facilitate the development of new, innovative products and services for all Believe customers in the future. The transaction values Sentric at €47 million, and its current management team will continue to lead the company.