Believe is expanding its presence in Japan, the world’s second-largest recorded music market.
The France-headquartered music company has launched a new imprint called PLAYCODE, dedicated to Japan’s hip-hop scene.
The company also says it will be partnering with Japan-based acts for the new label, including ¥ellow Bucks, Red Eye, and Issei Uno Fifth.
The launch of the new label has arrived around three months after Believe began operating in the country, in October 2023.
Believe’s new label in Japan follows the company’s series of hip-hop-focused imprints in other markets such as Thailand (bYOND), Italy (MAST) and France (Avant-Garde, AllPoints and Morning Glory).
With over 450,000 monthly listeners on Spotify and 66,700 followers on YouTube, ¥ellow Bucks is described by Believe as “one of the most influential hip-hop artists in Japan”, whose breakthrough hit YESSIR has achieved over 36 million views on YouTube and over 25 million listens on Spotify to date.
After winning their High School Rap Championship in 2019, Red Eye has raced up over 500,000 followers across all social platforms, with his POCKET series reaching over 8 million streams.
Meanwhile, Issei Uno Fifth’s hit SLIDE gained popularity on TikTok, reaching over 1.6 million streams on Spotify.
Believe has made Asia a key part of its strategy since it began operations in the region in 2013. It recently announced it had paid more than EUR €700 million in royalties to the music industry in the APAC (Asia-Pacific) region.
That income is “further fuelling the growth of a sustainable local music ecosystem by fostering new artist development,” the company said.
“Hip-hop in Japan is undergoing a massive shift, with more and more artists reaching growing audiences, both locally and beyond,” said Mari Ochiai, Head of Artist Services, Believe Japan.
“Hip-hop in Japan is undergoing a massive shift, with more and more artists reaching growing audiences, both locally and beyond.”
Mari Ochiai, Believe Japan
Added Ochiai: “The level of talent is outstanding and the potential for growth is massive. I am convinced that the launch of PLAYCODE will open a new chapter in Japanese hip-hop’s history.
“I look forward to joining hands Japan’s very best hip-hop talents, putting Believe’s unrivaled digital artist development expertise at their service to create the future of Japanese hip-hop!”
“Only a few months after the launch of Believe in Japan, we are proud to unveil PLAYCODE, with the aim of supporting the growth of a healthy, professionalized and industry-leading hip-hop ecosystem in Japan.”
Sylvain Delange, Believe
Sylvain Delange, Managing Director, APAC, Believe, added: “Only a few months after the launch of Believe in Japan, we are proud to unveil PLAYCODE, with the aim of supporting the growth of a healthy, professionalized and industry-leading hip-hop ecosystem in Japan.
“We could not dream of better ambassadors than ¥ellow Bucks, Red Eye, and Issei Uno Fifth to join force with us and ascend Japanese hip-hop to mainstream acclaim.
“Coupled with Mari’s unparalleled expertise, deep-rooted passion for Japanese Hip Hop and visionary leadership, we are confident that ‘PLAYCODE’ will serve as a beacon for the entire Japanese hip-hop community, fostering creativity, collaboration, and innovation.”
Believe published its most recent financial results for Q3 2023 in October, reporting that across its entire business, the company, which trades on the Paris Euronext, generated EUR €215 million ($234m), representing growth of 9.1% YoY.
On an organic basis (at a like-for-like perimeter and constant exchange rate), Believe’s revenues grew 7.5% YoY.
Believe breaks down its global operations into two divisions:
(i) DIY distributor TuneCore (referred to as ‘Automated Solutions’ in its results); as well as
(ii) The performance of its core premium label and artist services operation (referred to as ‘Premium Solutions’)
The company’s ‘Premium Solutions’ revenues grew 10.1% YoY – from €184.4 million in Q3 2022 – to €202.9 million ($220.8m) in Q3 2023.
Believe’s revenues in Asia Pacific and Africa grew 6.6% YoY to €55.8 million, ($60.7m) which represented 25.9% of the company’s total revenues.
Believe notes that “India and Southeast Asia grew only [by a] single digit” but that “revenue growth remained, however, very strong in Greater China, as well as in Japan where the Group expanded its presence by deploying its Premium offering”.
Elsewhere at Believe, the company recently acquired what it says is a “Punjabi powerhouse” catalog from India-based White Hill Music.
Believe says that the deal is the result of a long-term partnership between Believe and White Hill Music, a prominent music and film production studio based in India.Music Business Worldwide
