in

Imagine buys 25% stake in French indie label Play Two for round $14 million

Paris-headquartered Imagine has acquired a 25% stake in Play Two, considered one of France’s main impartial labels.

Imagine mentioned immediately (November 3) that the deal would speed up the digital progress of Play Two, which stays a subsidiary of the TF1 group.

Imagine didn’t disclose a worth for the deal, however did say: “The transaction values Play Two at slightly below €50 million on a 100% foundation.”

Because of this, it’s honest to imagine that, for a 25% stake, Imagine paid round €12.5 million (roughly USD $14.5 million).

Imagine mentioned in a media launch asserting the deal that “Play Two will now profit from the entire vary of Imagine’s providers, notably when it comes to distribution”.

The 2 founders of the label, Sébastien Duclos and Julien Godin, will stay in cost as managers.

As a part of the settlement, says Imagine, a strategic partnership has been agreed. Imagine mentioned in an announcement: “Play Two will be capable of leverage the technological innovation and digital experience that are on the very core of Imagine’s enterprise mannequin to speed up the event of audiences and monetization of its artists on the digital markets in France and overseas. Synergies shall be generated between the stay present manufacturing construction of Play Two and the unit of Imagine (Stay Affair) and between the B2B / Model content material constructions: Music Lab For Model for Play Two and the Branding division of Imagine.”

Play Two artists corresponding to Gims, Vitaa, Hatik, Anne Sila, Vincent Niclo, Tayc, Camelia Jordana, Squeezie, Julien Clerc, and Gaëtan Roussel will add to Imagine’s distribution roster.

Play Two founders Sébastien Duclos and Julien Godin mentioned: “This partnership with Imagine is one other vital step within the progress of Play Two. We have now recognized the Imagine groups for a very long time and share with Denis [CEO of Believe] and Romain [General Manager of Believe France] the identical entrepreneurial tradition in addition to a standard imaginative and prescient of the way forward for the music and leisure trade.

“With the TF1 Group, which is an distinctive accomplice within the improvement of our construction, we now type a brand new staff with Imagine, completely tailored to the challenges of this quickly altering market.”

“I’m assured that we’ll work collectively to speed up Play Two’s digital transition and open up new music segments to digital with our shared experience and innovation.”

Romain Vivien, Imagine

Romain Vivien, Common Supervisor of Imagine France, mentioned: “I’m delighted to affiliate Imagine with the No.1 French impartial label, based and run by Sébastien and Julien, two gifted entrepreneurs with an extended observe report of success, and on the identical time with the primary French media group TF1, which has enabled Play Two to speed up its improvement and turn into a key participant available in the market.

“I’m assured that we’ll work collectively to speed up Play Two’s digital transition and open up new music segments to digital with our shared experience and innovation.”

Imagine launched its Q3 fiscal outcomes immediately for the three months to finish of September.

Topline revenues on the firm within the quarter had been up 26.8% YoY on an natural foundation, to €144 million.

Imagine’s group revenues within the first 9 months of 2021 weighed in at €404 million, up 28.9% YoY on an natural foundation.



Imagine listed on the Paris Euronext inventory alternate in June.

The corporate at the moment carries a market cap of €1.716 billion, or roughly $2 billion.Music Enterprise Worldwide

What do you think?

Written by colin

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading…

0

Efforts to ease onion costs bearing outcomes, says authorities

Qualcomm forecast beats estimates as diversification efforts repay By Reuters