Digital music company Believe plans Paris stock market debut [Reuters]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
By Sudip Kar-Gupta , Gwénaëlle Barzic 2 Min Read PARIS (Reuters) -Digital music company Believe, which scouts out singers and helps them to launch online, on Monday announced plans for a Paris stock market listing aiming to raise around 500 million euros ($608 million) to finance its expansion. Believe is behind best-selling artists in France like rapper Jul and has been acquiring labels like German hip hop specialist Groove Attack. The company operates partly by targeting lesser known singers outside the ranks of top global stars. The group helps to distribute music by striking deals with listening platforms such as Spotify, Apple Music and Amazon, and is looking to expand its reach globally and also in new areas such as classical music. It has made 18 acquisitions in the past six years. The company said it would also continue to invest in its own technology platforms, and is looking to grow in emerging markets. “It’s no longer the traditional music model based on a huge amount of s
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