Believe BLV.PA reported on Wednesday organic growth in its turnover of 14.4% for 2023 and said it expects increased growth in 2024, while the French digital music group is the subject of multiple marks of interest.
Turnover reached 880.3 million euros last year, compared to 760.8 million euros over the same period last year.
“Believe today reports healthy results, fully in line with expectations,” founder and CEO Denis Ladegaillerie said in a statement.
For 2024, Believe forecasts organic growth of around 18%, notably thanks to an increase in subscription streaming driven by volumes and price increases and a gradual resumption of advertising-financed streaming.
Earlier this month, Warner Music Group WMG.O confirmed that it had approached Believe to begin discussions for a potential tie-up.
A month earlier, Believe said it had received a purchase offer from a consortium made up of American investment company TCV, Swedish private equity group EQT EQTAB.ST and CEO Denis Ladegaillerie.
“Believe recalls that the company is the subject of discussions around a possible change of control,” commented the group on Wednesday in its results press release.
“At this stage, the group is not able to estimate the impact that the uncertainties linked to the situation could have on its activity and its financial situation.”
(Written by Mathias de Rozario, edited by Blandine Hénault)