Believe acquires stake in Global Records to boost dance music growth

Digital music company Believe announced on July 8, 2024, that it has entered into a strategic partnership with Global Records, a leading independent dance music company in Central and Eastern Europe. As part of the agreement, Believe acquired a 25% stake in Global Records.

This partnership aligns with Believe's strategy to focus on digital artist development and music consumption. It expands the existing relationship between Believe and Global Records, which has facilitated Global Records' territorial expansion and catalog development since 2016. The new agreement is expected to accelerate Global Records' growth and its ambition to become a global leader in dance music.

The global dance music market, valued at $11.8 billion, is one of the fastest-growing digital music genres. Believe has launched its own dance and electronic music labels in recent years and strengthened its partnership with Beatport, a leader in DJ music.

Global Records, with operations in Romania, Germany, and the United States, is known for its hit songs and artist development. In 2023, the company accumulated over 6 billion streams across its platforms, and its artist roster includes well-known names such as INNA and Carla's Dreams. The company is the largest independent music company in Central and Eastern Europe.