Believe, a leading digital music company, demonstrated strong financial performance in FY 2024 despite challenging market conditions. The company achieved revenues of 988.8 million euros ($1.073 billion), marking a 12% increase with organic growth exceeding 11.5%.

Regional Performance:

• Europe (excluding France and Germany): 23.3% growth
• Americas: 18% growth
• Asia/Pacific/Africa: 3.5% growth (impacted by soft ad-funded revenues)
• France: 10.3% growth
• Germany: Slight increase despite shift from physical distribution

The company's adjusted EBITDA reached 67.1 million euros, representing a 33.5% increase from 2023, with a margin of 6.8%. Net cash position at the end of December 2024 stood at 139.9 million euros.

Key Achievements:

• Over 800 billion streams generated globally
• Expanded presence with new imprints in Japan and Indonesia
• Growth in label roster across Turkey, France, India, and Eastern Europe
• Strong digital sales growth despite no new DSP price increases
• Improved cash flow management with optimized advances to artists and labels

Looking ahead, Believe plans to:

• Increase focus on value optimization
• Accelerate controlled investment strategy
• Implement aggressive automation and efficiency plans
• Continue expanding global market presence

Despite the absence of new price increases at major DSPs, Believe's strategic focus on digital sales and market expansion has proven successful, positioning the company for continued growth in the evolving music industry landscape.

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