TF1 (EPA:TFI) - PLAY TWO ANNOUNCES A STRATEGIC PARTNERSHIP WITH BELIEVE, WHICH IS ACQUIRING A STAKE IN ITS CAPITAL VIA A MINORITY INTEREST

Transparency directive : regulatory news

03/11/2021 18:27

PRESS RELEASE

[03.11.21]

PLAY TWO ANNOUNCES A STRATEGIC PARTNERSHIP WITH BELIEVE, WHICH IS ACQUIRING A
STAKE IN ITS CAPITAL VIA A MINORITY INTEREST

Believe, one of the world's leading digital music companies, has acquired a 25%
stake in Play Two, France's foremost independent music label, subsidiary of the
TF1 group. This partnership will reinforce Believe's presence in France and
accelerate the digital growth of Play Two.

Believe and Play Two share a common entrepreneurial culture and have already
collaborated on the international development of artists. This obvious
partnership will further accelerate the growth of the two companies. Play Two
will be able to leverage the technological innovation and digital expertise
which are at the very core of Believe's business model to accelerate the
development of audiences and monetization of its artists on the digital markets
in France and abroad. Synergies will be generated between the live show
production structure of Play Two and the unit of Believe (Live Affair) and
between the B2B / Brand content structures: Music Lab For Brand for Play Two
and the Branding department of Believe.

The partnership also boasts a highly complementary roster, with the two Groups
exercising leadership in different genres of music. Play Two artists such as
Gims, Vitaa, Hatik, Anne Sila, Vincent Niclo, Tayc, Camelia Jordana, Squeezie,
Julien Clerc, Gaëtan Roussel etc will diversify Believe's roster in France
around a wider variety of musical genres. This combination creates a unique
talent platform that blends Play Two's attraction to artists and producers with
Believe's expertise in developing artists in the digital world.

Believe will hold a 25% stake in Play Two, which is majority owned by TF1
Group. This transaction values Play Two at just under 50 million euros. As part
of this partnership, Play Two will now benefit from the whole range of
Believe's services, particularly in terms of distribution. The two founders of
the label, Sébastien Duclos and Julien Godin, will remain in charge as
managers.

"This partnership with Believe is another important step in the growth of Play
Two. We have known the Believe teams for a long time and share with Denis [CEO
of Believe] and Romain [General Manager of Believe France] the same
entrepreneurial culture as well as a common vision of the future of the music
and entertainment industry. With the TF1 Group, which is an exceptional
partner in the development of our structure, we now form a new team with
Believe, perfectly adapted to the challenges of this rapidly changing market",
explain Play Two founders Sébastien Duclos and Julien Godin.

"I am delighted to associate Believe with the number one French independent
label, founded and run by Sébastien and Julien, two talented entrepreneurs
with a long track record of success, and at the same time with the number one
French media group TF1, which has enabled Play Two to accelerate its
development and become a key player in the market. I am confident that we will
work together to accelerate Play Two's digital transition and open up new music
segments to digital with our shared expertise and innovation", said Romain
Vivien, General Manager of Believe France.

About Sébastien Duclos & Julien Godin (Play Two)
The entrepreneurial tandem of Sébastien Duclos (formerly of Sony Music) and
Julien Godin (formerly of M6) successfully launched a number of French music
hits over the past 15 years and redefined the way the market works. They have
become leaders in the music business, and serious competitors to the
multinational oligarchs in these markets.
They established "PlayOn" in 2006, which produced ZAZ, Raphael, Kids United and
the musical "Cendrillon" at Mogador. The magazine "Décideurs" awarded PlayOn
the "Grand Prix des Entreprises de Croissance" in 2014. PlayOn remained the
number one independent label from 2009 to 2016, before being sold to Warner
Music in 2016.
They created Play Two in 2016 (in association with TF1), thus paving the way to
embrace the evolving market: new contractual models, support for
disintermediation between creators and consumers, explosion of streaming ...
Play Two has been France's leading independent label since 2017.

About the TF1 group
The TF1 group is a global player in the production, publication and
distribution of content. Our ambition is to use our content to positively
inspire society.
Our operations comprise:
. Broadcast with 5 free-to-air channels (TF1, TMC, TFX, TF1 Séries Films,
LCI), 4 theme channels (Ushuaia TV, Histoire TV, TV Breizh, Série Club),
3 on-demand content platforms (MYTF1, TFOU MAX and Salto), and the TF1 PUB
advertising airtime sales house.
. Production via Newen, home to more than 30 labels in France and around the
world.
. Digital via our web natives activities and high-powered digital communities
including Aufeminin, Marmiton, Doctissimo and My Little Paris.
. Music and live shows.
The TF1 group has operations in more than 10 countries and nearly 3,700
employees, and generated revenue of EUR2,081.7 million in 2020 (Euronext Paris:
ISIN FR0000054900). www.groupe-TF1.fr/en

About Believe
Believe is one of the world's leading digital music companies. Believe's
mission is to develop independent artists and labels in the digital world by
providing them the solutions they need to grow their audience at each stage of
their career and development. Believe's passionate team of digital music
experts around the world leverages the Group's global technology platform to
advise artists and labels, distribute and promote their music. Its 1,401
employees in more than 50 countries aim to support independent artists and
labels with a unique digital expertise, respect, fairness and transparency.
Believe offers its various solutions through a portfolio of brands including
TuneCore, Nuclear Blast, Naïve, Groove Attack and AllPoints.
Believe is listed on compartment A of the regulated market of Euronext Paris
(Ticker: BLV.PA, ISIN: FR0014003FE9). www.believe.com

CONTACTS
TF1 group
Maylis Carcabal: +33 (0)6 63 59 87 05 - mcarcabal@tf1.fr
Sophie Danis: +33 (0)6 22 47 56 52 - sdanis@tf1.fr

Legal information: Télévision Française 1 ? TF1 société anonyme with
capital of EUR42,097,127
RCS Nanterre 326 300 159 ? 1 quai du Point du Jour 92656 Boulogne-Billancourt
Cedex, France
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TF1 (EPA:TFI) - PLAY TWO ANNOUNCES A STRATEGIC PARTNERSHIP WITH BELIEVE, WHICH IS ACQUIRING A STAKE IN ITS CAPITAL VIA A MINORITY INTEREST

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