Digital music company Believe on Monday said it has acquired Think Music, a South India-based music label. With this acquisition, the company wants to further strengthen its position in South India. Additionally, the acquisition will help Think Music accelerate the growth and monetisation of its whole catalogue by leveraging Believe’s digital-first approach, back catalogue optimisation know-how, and technological expertise, Believe said in a statement. “I am confident that we will work together to accelerate Think Music digital growth and provides artists with shared expertise and innovation”, Vivek Raina, managing director, Believe India, said.
The deal will enable Think Music to access Believe’s innovative technologies and expertise to drive video audience development and monetisation in short-form video format and leverage Believe’s financial support to expand further its soundtrack acquisition strategy as well. With the combined subscriber base of both the partners’ YouTube channels, artists will also be able to reach an audience of more than 60 million YouTube subscribers, Believe claimed in a statement.
Founded in 2017, Think Music claims to have launched over 40 debut composers including Santhosh Narayanan, Ghibran and Hiphop Tamizha. The current management team at Think Music led by Swaroop Reddy will continue to operate after the acquisition and focus on building the catalogue under Think Music Label and overseeing the backend integration.
According to Swaroop Reddy, founder, Think Music, Believe’s wide array of innovative, digital-first solutions combined with Think Music’s relentless focus on providing the best platform to film, non-film, and independent artists’ soundtracks, will create significant value for all stakeholders.
The acquisition will also expand Believe’s local coverage. As a result, it becomes more organised to help South Indian artists to diversify monetisation sources and grow their audiences at every stage of their career.