Believe Digital Rescues Indie Label naïve From Bankruptcy
Believe Digital has acquired indie label and publishing company naïve. Believe is the global digital distributor and artist services firm that purchased DIY digital music distribution platform TuneCore last year.
After being forced in bankruptcy, French independent music company naïvehas been purchased by Believe Digital.
Believe said they will retain the label and publishing company's 25 staffers to build on the success of its diverse catalog including Classical (Jean-François Zygel, Laurence Equilbey and Accentus), Jazz (Baptiste Trotignon, Hadouk Trio), Music for Youth (music for little ears series), and Pop (Jeanne Added, M83, Benjamin Biolay).
Last year Believe received $60 million in growth capital investment from Technology Crossover Ventures (TCV) and XAnge. Previously TCV was the lead investor in funding rounds of $250 million for Spotify and $250 million for Vice Media.
Believe is the digital distribution home for labels like Brownswood Recordings, Southern Fried, Hospital Records, Tru Thoughts, One Little Indian, Future Classic, World Circuit, Skint Records, Nettwerk Records, Soundway, Kartel Label Services, Xtra Mile Recordings, Saregama, Soulfood Distribution, Distri, AFM Records, Parov Stelar, K-Tel, Scorpio Music, Halidon, Chinese Man Records, Nowadays Records, Delicieuse Records, Prime Direct and Southern Record Distribution.
The company acquired TuneCore last year.