PARIS, France (CelebrityAccess) — French digital music company Believe signaled plans to move into music publishing with the acquisition of the independent tech-powered music publishing platform, Sentric.
The deal will see Believe fully acquire Sentric, which was previously held by Utopia Music AG since February 2022. The acquisition values Sentric at €47 million and the the company will retain its current leadership team following the close of the transaction, Believe said.
According to Believe, the acquisition represents the first step in developing a full-scale international publishing operation as the company seeks to stake a claim in global publishing revenue.
Sentric, which is based in Liverpool, and maintains offices in Europe and the United States, already operates in more than 200 territories, representing more than 4 million songs and over 400,000 songwriters either directly or via industry partners.
According to Believe, the acquisition of Sentric provides access to the company’s proprietary platform and technology, as well as a global team with expertise across royalties, activity and usage tracking, rights management and sync, as well as territory-specific knowledge.
Following the acquisition, Sentric will strengthen its existing integration with TuneCore, and will offer its publishing services to all clients within the Believe Group, while providing opportunities to manage and optimize catalogs and address songwriters and publishers, in addition to artists and labels, the company said.
“The acquisition of Sentric is the first step for Believe in the roll-out of a global and comprehensive publishing offer. The growth and digital transformation of the songwriters’ market is opening-up many opportunities. We are excited to be able to immediately expand the services we provide to our existing TuneCore clients with Sentric’s best-in-class royalty collection service, while starting to work on future innovative products and services for all of Believe’s songwriters and publishers,” stated Believe founder & CEO Denis Ladegaillerie.
