Top Digital Music Company Joins Shareholders of Romania’s Global Records

By Romania Journal Last updated Jul 9, 2024

Get real time updates directly on you device, subscribe now.

The French company Believe, one of the most important digital music companies in the world, bought 25% of the Romanian record company Global Records, the largest independent record company in Eastern Europe, an annual business of over 100 million lei.

The company operates in more than 50 countries, with about 2,000 employees, and has represented over time about 1.3 million artists, with annual revenues of about 1 billion euros.

Global Records is the record company in which the singer INNA held a 48.33% stake through her company I love music & fun SRL. The rest of the shares were divided between Ștefan Lucian Gîtiță (25%), the founder, and Global Records Group SRL (26.67%), owned by the Gîtiță family, according to Termene.ro data.

Global Records, founded by Ștefan Lucian Gîtiță in 2008, has fully acquired the American independent music publisher Honua Music. Honua Music, established in 2011 in Los Angeles by industry veteran Ron Moss and Grammy-nominated composer Andreas Schuller, was previously 10% owned by Global Records. Based in Bucharest, Global Records has been collaborating with Honua Music for a long time and has now completed the full acquisition.

In 2023 only, Global Records cumulated over 6 billion streams across all platforms and over 20 billion streams for its global catalogue to date, serving top artists such as INNA, Minelli, Carla’s Dreams, Antonia, Holy Molly, DJ Project, Irina Rimes, The Motans, Alina Eremia, Olivia Addams, and many others, and being the biggest independent music company in CEE.

Denis Ladegaillerie, Founder & CEO, Believe, said: “Believe and Global Records share a common independent mindset, entrepreneurial culture and commitment to developing local artists in the digital space, with expertise, respect, fairness, and transparency. I am thrilled that our long-term successful collaboration has led to this strengthened strategic partnership and I am convinced that together we will build a global leader in dance music, one of the few truly digital and international music genres today.”

Ștefan Lucian, CEO, Global Records, added: “This partnership signifies a bold step towards our vision for the future of music and entertainment, and by leveraging our combined resources we will offer to our artists and talents the same level of services and performance as any top record label be it major or independent. For us it was a straight forward decision to choose Believe as our partner because we both believe in the future of independent music and we share the same passion and love for the artists and the content they create.”

DONATE: Support our work

In an ever changing and challenging world, the media is constantly struggling to resist. Romania Journal makes no exception. We’ve been informing you, our readers, for almost 10 years, as extensively as we can, but, as we reject any state funding and private advertising is scarce, we need your help to keep on going.
So, if you enjoy our work, you can contribute to endorse the Romania Journal team. Any amount is welcome, no strings attached. Choose to join with one of the following options:

Donate with PayPal

Donate by Bank Wire

Black Zonure SRL
UniCredit Bank. Swift: BACXROBU
RON: RO84 BACX 0000 0022 3589 1000
EURO: RO57 BACX 0000 0022 3589 1001
USD: RO30 BACX 0000 0022 3589 1002