Believe Reports Strong Profit Growth Despite DSP Price Stagnation in 2024
Believe demonstrated strong financial performance in 2024 despite challenges in streaming price adjustments. The music company reported revenues of 988.8 million euros ($1.073 billion), achieving 12% growth with organic growth exceeding 11.5%.
Gray-haired man with beard smiling
Regional Performance:
- Europe (excluding France and Germany): 23.3% growth
- Americas: 18% growth
- Asia/Pacific/Africa: 3.5% growth (impacted by ad-funded revenues)
- France: 10.3% growth
- Germany: Slight increase despite shift from physical distribution
Believe 2024 Financial Performance Chart
Key Financial Highlights:
- Adjusted EBITDA: 67.1 million euros (33.5% increase from 2023)
- EBITDA margin: 6.8% (year-over-year improvement)
- Net cash: 139.9 million euros (end of December 2024)
- Digital sales: Strong growth in paid streaming, affected by slow ad-funded recovery
Operational Achievements:
- Over 800 billion global streams generated
- New imprints launched in Japan and Indonesia
- Expanded label roster in Turkey, France, India, and Eastern Europe
Future Strategy:
- Increased focus on value optimization
- Controlled investment approach
- Implementation of aggressive automation
- Enhanced efficiency initiatives
The company maintains a positive outlook despite the absence of new price increases at major DSPs, demonstrating resilience through market share gains and strategic growth initiatives.
Related Articles
Universal Music Reports 8% Growth in Q4 Streaming Subscriptions, Signals End of Streaming Plateau
