Posted 3/13/2024, 10:02:31 PM
Believe Posts Double-Digit Growth in 2023 Revenue and Earnings, Draws Buyout Interest
- Believe's revenue rose 15.7% to 880.3 million euros in 2023, with 14.4% organic growth
- The company expects over 20% organic revenue growth in 2024, adjusted to 18% for currency headwinds
- Growth was driven by streaming, market share gains, and price increases at music services
- Adjusted EBITDA rose 45% to 50.3 million euros, with a 5.7% margin
- A consortium seeks to take Believe private, but Warner Music has shown interest in beating their offer