Thu Sep 26 12:54:02 UTC 2024: ## Believe Completes Acquisition of Turkish Label Doğan Music Company
**LONDON, UK – ** Believe has officially completed its acquisition of Turkish independent label Doğan Music Company (DMC), after securing approval from the relevant competition regulator. The company previously held a 60% stake in DMC since 2020, and has now paid €38.3m to secure the remaining 40% for a total valuation of €95.8m.
“The Turkish music industry has undergone a massive change since Believe’s launch in the market back in 2012, with a solid growth of streaming and countless artists and labels reaching new and wider audiences both locally and beyond,” said Believe’s Viktoria Siniavskaia in a statement.
The acquisition reflects Believe’s continued commitment to expanding its global presence and supporting independent artists and labels. DMC boasts a strong track record in the Turkish music market and is well-positioned to benefit from the growing popularity of streaming services in the region.
This news comes as Music Ally is gearing up for its inaugural Music Ally Marketing Awards, taking place on Wednesday, November 20th at the Ministry of Sound in London. The awards ceremony aims to celebrate the achievements of digital marketing teams in the music industry, providing a platform to acknowledge their vital contributions to the sector.
**For more information on the Music Ally Marketing Awards, please visit [insert link].**
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