Believe acquires DMC, Turkey's largest independent label

After an initial transaction in which the Group acquired a 60% majority stake in DMC in 2020, Believe has now reached an agreement with Doğan Group to exercise the call option, acquiring the remaining 40% of DMC for a total of €38.3 million. This transaction, announced on August 6th, has now been approved by the competition regulator.

Present in Turkey since 2012 with an office in Istanbul, Believe has built a solid reputation and strong track record locally, thanks to its teams’ unique digital expertise and long-term partnerships with key digital services. With this deal, Believe further fortifies its leadership position in Turkey and aims at supercharging the growth and global reach of DMC’s roster, which includes Turkey’s leading pop, arabesk and rock acts, such as Tarkan, Mustafa 

Sandal, Gülşen, Demet Akalın, Derya Uluğ, Edis, Aleyna Tilki, Mor ve Ötesi, Madrigal, Manga, Funda Arar and Ebru Yaşar, among others. On Spotify’s 2023 Wrapped, 8 out of 1 Source: Spotify the top 10 songs where from artists represented by DMC, with Simge's "Aşkın Olayım" charting as the most listened song and Semicenk becoming the most listened to artist in Turkey on Spotify Turkey in 2023.

Çağlar Gogus, CEO of Doğan Holding, said: "DMC is a great success story. Since 2000, it has institutionalized the sector with all its successful works from music production to radio, from social media projects to film production, and has always added value and innovation to the sector with the artists it represents, and is the most valuable company in the music industry in Turkey. Netd, which he founded in 2014 by always maintaining his entrepreneurial spirit, is today one of the most watched YouTube channels in the world with nearly 26 million subscribers. As Doğan Group, it is a company that we are very proud of. We are excited and proud that DMC will continue on its way as a global brand in line with the agreement we have reached with Believe International after the Doğan Group's decision to completely exit the media sector. The biggest share in this success belongs to all DMC employees, especially Dear Samsun Demir. I would like to congratulate each and every one of them once again."

Viktoria Siniavskaia, Believe’s President META, East & Southern Europe, Americas, said: “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. On Spotify alone, the Top 100 list went from 11 local artists in 2013 to 91 in 2023! I couldn’t be prouder of Believe having been a key driver in this evolution, alongside DMC and our digital partners, boosting the digitalization of the market and that of local music genres.”

Samsun Demir, DMC’s CEO, continued: “This is an incredibly exciting new step for all the talented artists and labels that we represent, who will now fully benefit from Believe’s best-inclass digital expertise, partnerships with top services providers and global footprint. This acquisition marks a new step for the Turkish music industry as a whole, one that will undoubtedly supercharge the rise of new local artists and labels and allow for the dynamism and richness of Turkey’s music scenes to reach new audiences and heights around the world.”

Prev