Believe Gives AI a Vote of Confidence as Company Revenues Climb 18%

With artificial intelligence creating widespread doubt and confusion throughout the music business, Believe gave the technological advancements a strong vote of confidence in the French music company’s midyear earnings report on Wednesday .

“We’ve been, for several years now, building machine learning models to be able to optimize the marketing and promotion of our artists of their tracks on various digital music services to help them expand market share and new services,” said Ladegaillerie. Revenue at Believe’s premium solutions division grew 17.9% to 388.5 million euros . Revenue at the automated solutions division, which includes digital distributor TuneCore, rose 17.1% to 23 million euros .

Believe singled out its 10-year anniversary of operating in Southeast Asia in fast-growing markets such as Indonesia, the Philippines, Thailand, Vietnam and Malaysia. Its Southeast Asian roster generated more than 634 billion of streams and views over the past 10 years. Believe expects the region’s paid streaming users will grow from 15 million today to 67 million in 2030.

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