Music business

Believe acquires 51% of the capital of the French independent label Jo&Co

Music company based in Paris Believe has acquired a 51% stake in French company Jo&Co, which it says is one of the country’s “leading independent pop and mainstream music labels”.

Jo&Co founder Sébastien Saussez will continue to run the label.

Believe says the acquisition of the stake in Jo&Co serves to diversify its roster and also solidifies its position in France which, it notes, is the world’s sixth largest music market.

Today’s news comes just two months after Believe announced the acquisition of a 25% stake in another top French independent label, Play Two.

It is also the fourth independent company in which Believe has acquired a stake in the last two months, having acquired a 76% stake in South India-based Think Music for 13 million euros (approximately $14.6 million) and a 15% interest. in Philippines-based Viva Music and Artists Group (VMAG) for 23 million euros (about $26 million).

Specialized in pop and mainstream music, Jo&Co works with artists such as Claudio Capéo, Hoshi, Les Frangines, and Gjon’s Tears.

According to Believe, in just a few years, “the label has built up a quality roster and built a solid reputation as one of the very first French independent labels”.

Believe will now also handle distribution for all artists on the label. Additionally, Believe will work with the label’s artists to develop their branding and live activities.

Believe is listed on the Euronext Paris stock exchange in June 2021.

The company currently has a market capitalization of 1.716 billion euros, or approximately $2 billion.

“This merger comes at a time when pop and mainstream music are rapidly moving towards digital in France.”

Romain Vivien, Believe France

Romain Vivien, Managing Director of Believe France, declared: “I am delighted with this agreement with Jo&Co, a label that Sébastien Saussez has succeeded in establishing in a few years as one of the essential independent players on the French market.

“This merger comes at a time when pop and mainstream music are rapidly moving towards digital in France.

“We will do everything we can to ensure that our alliance offers Jo&Co the opportunity to leverage our expertise and a changing market to grow its business even further.”

“I look forward to bringing out new talents together in France but also internationally, an ambition that we share.

Sebastien Saussez, Jo&Co

Sébastien Saussez, founder of Jo&Co adds: “I am delighted to launch my brand on a new adventure with a company as innovative and successful as Believe. “Believing” means having faith, trust and confidence, my fundamental philosophy in this industry: to believe and support artists as close as possible to who they really are, and to help them achieve the success they deserve.

“I look forward to bringing out new talents together in France but also internationally, an ambition that we share.The music industry around the world