Believe, one of the leading digital music companies in the world, recently forged a strategic partnership with the country’s leading label, Viva Music and Artists Group, Inc. (VMAGI).
The newly formed partnership expands the two companies’ existing relationship to develop local talents and exploit VMAGI’s unique catalogue. The joint venture is also expected to accelerate the digital growth of VMAGI while further strengthening Believe’s position as a leader player in South East Asia. As part of the strategic partnership, Believe has acquired a 15% stake in VMAGI.
“It is with great pleasure and honor that I welcome Believe’s entry into Viva,” said Vic Del Rosario, Jr. VMAGI Chairman, President, and CEO. “Being one of the leading digital music corporations in the world, Believe brings with it its unparalleled track record in music technology advances and industry leading label and artists services. Opportunities are boundless, as the partnership seeks to take Viva Music and Artists Group, Inc. (VMAGI) into the next level, with the sole aim of marrying Believe’s vast international know-how on the digital front and that of Viva’s 50 years of dominance of the Filipino entertainment scene. This is truly an exciting development not only for the 2 companies, but also for all the great and talented Pinoy artists who dream of making it big in business both here and abroad.”
The new partnership is expected to provide a unique development platform for original Pilipino music artists in the country. Believe and VMAGI offer a complete range of services to local artists through 360° solutions, ranging from VMAGI’s talent management, sync, publishing, branding, merchandising and production capabilities to Believe’s digital development expertise.
“I am extremely proud and honored to establish this long-term partnership between Viva Music and Artists Group, Inc. and Believe,” said Sylvain Delange, Managing Director of Believe Asia Pacific. “Under the highly successful leadership of Vic Del Rosario, Jr. coupled with the forward-thinking vision of Verb Del Rosario, Viva has achieved the unique position of being simultaneously the most established and the most innovative music company in the Philippines. I am very confident that, leveraging each other’s expertise, this partnership will enable Viva and Believe to capture the ever-growing opportunities of the Philippines market and contribute to the rise of Local Artists.”
Since 2019, Believe and VMAGI have been collaborating on the regional development of artists. As market growth begin to gain speed in creating new opportunities, VMAGI and Believe decided to deepen their relationship to accelerate their growth. With this partnership, VMAGI and VMAGI’s artists will now benefit from the full range of digital services provided by Believe and from Believe’s proprietary marketing and technology solutions.
Asia is currently the fastest growing digital music market in the world and is projected to become the largest recording music market globally by the end of this decade, with the Philippines being a top 20 country globally. Believe started investing in the region in 2013 and is now present as a leading player in 14 territories.
VMAGI is home of Viva Records, the fastest growing label in terms of new artists, and Vicor Music, the owner of the oldest and richest back catalogue in the Philippines. VMAGI has been a first mover in mainstream local hip-hop and now boasts a very active roster of top and up and coming artists.
VMAGi is controlled by Viva Holdings, the leading family-owned media company in the country, which represents a key relationship to attract and develop top local and regional artists.
Believe is investing in VMAGI by purchasing shares representing 15% of the total share capital for a consideration of €23 million.
Believe forges strategic partnership with Viva Music and Artists Group, Inc.
Source: Media Star Philippines
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