France-headquartered digital music firm Imagine has introduced that it’s taking full possession of Doğan Music Firm (DMC) – which Imagine calls Turkey’s largest unbiased label – after securing regulatory approval for the deal.
Imagine says the transfer will cement its place as a pacesetter within the Turkish market. DMC boasts a roster of lots of the high artists in Turkey, together with Simge, whose Aşkın Olayım was probably the most streamed tune on Spotify in Turkey in 2023, and Semicenk, who was the general most-streamed artist in Turkey final 12 months.
“The Turkish music business has undergone a large change since Imagine’s launch out there again in 2012, with a strong progress of streaming and numerous artists and labels reaching new and wider audiences each domestically and past,” mentioned Viktoria Siniavskaia, Imagine’s President META, East & Southern Europe, Americas.
“On Spotify alone, the Prime 100 record went from 11 native artists in 2013 to 91 in 2023! I couldn’t be prouder of Imagine having been a key driver on this evolution, alongside DMC and our digital companions, boosting the digitalization of the market and that of native music genres.”
Imagine initially took a 60% stake in DMC in 2020 for €18.8 million (internet of €1.6 million money acquired), and in August of this 12 months, it introduced it was planning to train a name possibility to purchase the remaining 40%.
The corporate disclosed it could be paying €38.3 million (approx USD $41.8 million on the alternate price on the time) for the stake.
“The Turkish music business has undergone a large change since Imagine’s launch out there again in 2012, with a strong progress of streaming and numerous artists and labels reaching new and wider audiences each domestically and past.”
Viktoria Siniavskaia, Imagine
“That is an extremely thrilling new step for all of the gifted artists and labels that we characterize, who will now absolutely profit from Imagine’s best-in-class digital experience, partnerships with high providers suppliers and world footprint,” DMC CEO Samsun Demir mentioned.
“This acquisition marks a brand new step for the Turkish music business as a complete, one that may undoubtedly supercharge the rise of latest native artists and labels and permit for the dynamism and richness of Turkey’s music scenes to achieve new audiences and heights world wide.”
The total acquisition of DMC comes just a few months after Imagine introduced it’s taking a 25% stake in International Data, a Romania-headquartered indie label that additionally has places of work in Germany and the US. The corporate is believed to be the most important indie music firm in Central and Japanese Europe.
These offers are among the many first for Imagine since its founder and CEO, Denis Ladegaillerie, took near-total management of the corporate as a part of a consortium with EQT and TCV. As of July, the consortium held 96% of Imagine’s share capital.
“This acquisition marks a brand new step for the Turkish music business as a complete, one that may undoubtedly supercharge the rise of latest native artists and labels…”
Samsun Demir, Doğan Music Firm
In an interview with MBW in June, Ladegaillerie made it clear that he plans to proceed Imagine’s world growth, significantly into main music markets.
“The No.1 component of our acquisition technique at this time is within the Prime 10 markets. We need to grow to be a No.1 participant in these markets. We’re already the biggest participant [on local repertoire] in France; the third largest participant in Germany; the biggest participant in India; the third largest participant in Japan. We need to do extra. The US, UK, and Japan are all key priorities for us,” Ladegaillerie mentioned.
“On the similar time, we are going to proceed making very qualitative, focused acquisitions throughout [smaller] markets as you’ve seen lately in Turkey, the Philippines, and elsewhere.”
Among the many most notable acquisitions for Imagine in recent times have been French indie label Jo&Co, German indie distributor Groove Assault, a minority stake in Philippines-based Viva Music and Artists Group (VMAG), and Indian labels Suppose Music and Venus Music (now Ishtar). The corporate additionally acquired what it referred to as a “Punjabi powerhouse” catalog from India-based White Hill Music.
Final 12 months, Imagine expanded into music publishing with its acquisition of UK-born Sentric.Music Enterprise Worldwide
