Believe has acquired UK-born music publishing platform Sentric.<\/p>\n
Paris-based Believe says that its acquisition of Sentric acts as “a first step for Believe in rolling out a global and comprehensive publishing business”.<\/p>\n
Sentric is a music publishing platform based in Liverpool, UK, with offices in Europe and the United States.<\/p>\n
The news arrives a year after Sentric Music Group was acquired<\/a> by Switzerland-headquartered fintech company Utopia Music.<\/p>\n Believe is acquiring full ownership of Sentric, which was held by Utopia since February 2022.<\/p>\n Believe says this transaction values Sentric at \u20ac47 million ($51m) on a 100% basis. This new business line will be led by the existing Sentric\u2019s leadership team.<\/p>\n Partnering with over 70 collecting societies, Sentric operates in over 200 territories, representing more than 4 million songs and over 400,000 songwriters either directly or via industry partners.<\/p>\n Moving forward, Believe, which also owns DIY music distribution company TuneCore, says that Sentric\u2019s integration “will further strengthen” publishing for TuneCore\u2019s self-releasing artists and expand it to new geographies.<\/p>\n Sentric will then offer publishing services to all clients within the Believe Group, who it says “will be able to monetize their music seamlessly”.<\/p>\n Believe claims that the acquisition “will also provide new ways to manage and optimize catalogs and address songwriters and publishers, in addition to artists and labels”.<\/p>\n Believe says that its external growth strategy “is focused on capturing investment and acquisition opportunities where the Group can leverage its global presence, digital expertise and technology to offer unique and innovative solutions to artists and music rights-holders on a large scale”.<\/p>\n It notes that “the acceleration of the digitalization of the publishing market presents Believe with an attractive opportunity to build a service for songwriters and publishers, in a way that is both innovative and complementary with its core recorded music offering”.<\/p>\n Believe says that Sentric\u2019s proprietary platform “is one of the most advanced solutions in the market, able to manage publishing for self-releasing artists profitably and at scale, while also offering global publishing deals to rights-holders at each stage of their development”.<\/p>\n The company also says that “Sentric\u2019s backend platform offers a publishing infrastructure best fit for digital rights\u2019 management, while providing songwriters and publishers with a suite of tools and actionable data to power their strategies through its user portal”.<\/p>\n
\n