Believe, one of the world’s leading digital music companies, strengthens its leadership in the fast-growing Indian market with the acquisition of Think Music, one of the leading in South India based music labels.
With the acquisition of Think Music,Believe isfurther strengthening its position in South India by acquiring a highly reputed brand and one of the leading independent companiesfor original soundtracks in Tamil language in a market showing strong growth momentum.
Think Music is a popular music label in South India. Founded in 2007, Think Music is known for owning for perpetuity a dynamic catalogue consisting of popular film, non-film and independent soundtracks including some of the biggest and marquee albums of Tamil Cinema. In addition to acquiring and distributing soundtracks, Think Music is also a pioneer in promoting and introducing young talent to the music industry, having successfully launched over 40 debut composers, most of whom have gone on to make a big mark for themselves including Santhosh Narayanan, Ghibran and HiphopTamizha to name a few.
Think Music and Believe have been commercial partners on a subset of the company’s catalog. This staged acquisition will allow Think Music to accelerate the growth and monetization of its whole catalogue by leveraging Believe’s digital-first approach, back catalogue optimization know-how and technological expertise. Think Music will also be able to leverage Believe’s financial support to expand further its soundtrack acquisition strategy.
The combination of Think Music’s You Tube channel (one of the most popularYouTube Tamil music channels with 11 million subscribers) and Believe’s owned YouTube channels will provide artists with an unparalleled launchpad to an audience of more than 60 million YouTube subscribers, a reach of about 25% of YouTube’s monthly active users in India.
In addition, Think Music will benefit from Believe’s innovative technologies and expertise to drive video audience development and monetization in short-form video format. Believe was the first global company to sign a deal with Tik Tok and an early beta tester of YouTube shorts in India before its international roll-out.
The acquisition of Think Music reinforces Believe attractivity to local artists in India by adding new capabilities to the development platform and expanding its local coverage. It is now organized to helpSouth Indian artiststo diversify monetization sources and grow their audiences at every stage of their career.
The current management team at Think Music led by Swaroop Reddy, will remain in place, and continue building the catalogue under Think Music Label while overseeing the backend integration so as to realize the full potential of the partnership.