French music company Believe has acquired a stake in Viva Music and Artists Group, Inc.,(VMAGI), which considered one of the largest labels in Southeast Asia.
Believe, one of the world’s leading digital music companies, is buying 15 percent of the company’s total share capital for €23 million.
In a statement sent to Manila Standard Entertainment, Vic Del Rosario Jr., VMAGI Chairman, President, and CEO, said that it is with great honor that he welcomes Believe’s entry into Viva.
“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,” Del Rosario stated.
“This is truly an exciting development not only for the two companies but also for all the great and talented Pinoy artists who dream of making it big in business both here and abroad,” he added.
The partnership will provide a unique development platform for local OPM (Original Pilipino Music)artists. 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 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,” said Sylvain Delange, Managing Director of Believe Asia Pacific.
VMAGI is controlled by Viva Holdings, the N°1 family-owned media company in the country, which represents a key relationship to attract and develop top local and regional artists. VMAGI is also the owner of the oldest and richest back catalog in the Philippines.
This strategic partnership expands Believe’s and VMAGI’s existing relationship to develop local artists and exploit VMAGI’s unique catalog. This will also contribute to accelerating the digital growth of VMAGI while further strengthening Believe’s position as a leading player in Southeast Asia. As part of the strategic partnership, Believe has acquired a 15 percent stake in VMAGI.
Asia is currently the fastest growing digital music market and will 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.
Believe and VMAGI have been collaborating on the regional development of artists since 2019. As market growth has now started to gain speed, creating new opportunities, VMAGI and Believe deepen their relationship to accelerate their growth.
With this partnership, VMAGI and its artists will now benefit from the full range of digital services provided by Believe and from Believe’s proprietary marketing and technology solutions.
VMAGI is home to Viva Records, the fastest growing label in terms of new artists, and Vicor Music, the owner of the oldest and richest back catalog in the Philippines. VMAGI has been a first mover in mainstream local hip hop and has today a very active roster of top and upcoming artists.