PARIS (CelebrityAccess) Digital music services company Believe announced it has taken a stake in Philippines-based Viva Music and Artists Group (VMAG), one of the largest indie label groups in Southeast Asia.
According to Believe, they acquired shares in the label that amount to a 15% ownership stake for €23 million.
The deal is an expansion of Believe’s previous relationship with VMAG, and the two companies have been collaborating in the region since 2019. As a part of the expanded agreement, VMAG and VMAG’s artists will be able to take advantage of Believe’s digital label services, including proprietary marketing and technology solutions.
VMAG, controlled by the family-owned Viva Holdings, oversees Viva Records, a major force in Pilipino hip-hop, and Vicor Music, the owner of one of the oldest and deepest back catalogs in the Philippines.
As well, VMAG provides a range of services, including artist management, publishing, sync, merchandising and branding.
“It is with great pleasure and honor that I welcome Believe’s entry into Viva. Being one of the leading digital music corporations in the world, Believe brings with it its unparalleled track record in music technology advances and industry leading label and artists services. Opportunities are boundless, as the partnership seeks to take Viva Music and Artists Group, Inc. (VMAG) into the next level, with the sole aim of marrying Believe’s vast international know-how on the digital front and that of Viva’s 50 years of dominance of the Filipino entertainment scene. This is truly an exciting development not only for the 2 companies, but also for all the great and talented Pinoy artists who dream of making it big in business both here and abroad””, remarked Vic Del Rosario, Jr. VMAG Chairman, President and CEO.
“I am extremely proud and honored to establish this long-term partnership between Viva Music and Artists Group and Believe. Under the highly successful leadership of Vic Del Rosario, Jr. coupled with the forward-thinking vision of Verb Del Rosario, Viva has achieved the unique position of being simultaneously the most established and the most innovative music company in the Philippines. I am very confident that, leveraging each other’s expertise, this partnership will enable Viva and Believe to capture the ever-growing opportunities of the Philippines market and contribute to the rise of Local Artists”, said Sylvain Delange, Managing Director of Believe Asia Pacific.