Paris-headquartered music distribution and companies firm Imagine stories that it surpassed the milestone of €1 billion in digital music gross sales (DMS) for 2022.

Imagine says that DMS is the income generated from its digital retailer companions and social media platforms earlier than royalty cost to artists and labels.

The corporate provides that DMS represents the recorded music digital gross sales of the artists supported by the Group, immediately or by means of their labels.

The announcment comes two months after Imagine posted its Q3 2022 outcomes (in November), reporting revenues of EUR €197.0 million for Q3 – a 36.9% YoY improve in revenues.

On an natural foundation (at a like-for-like perimeter and fixed alternate price), that determine was up 37.6% YoY.

The corporate stated in November 2022 that it anticipated to document full-year 2022 revenues in extra of EUR €750 million, up by over a 3rd in comparison with 2021.

In FY 2021, Imagine posted €577.2m in annual income, up 30.7% YoY.

Imagine grew to become a publicly listed firm in 2021, debuting on the Paris Euronext on June 10.

Commenting on the information of the €1 billion DMS milestone, Denis Ladegaillerie, Founder & CEO, Imagine, stated: “We’re proud to have fun this milestone as a mark of Imagine’s artists and labels’ steady success.

He added: “It’s a tribute to the power and fervour of our two hearts: our artists, in any respect levels of their profession, who create vibrant music that followers connect with and are impressed by, and our individuals, who put their digital experience and expertise at their service with respect, equity and transparency.”

“It’s a tribute to the power and fervour of our two hearts: our artists, in any respect levels of their profession, who create vibrant music that followers join  to and are impressed by, and our individuals, who put their digital experience and expertise at their service with respect, equity and transparency.

DENIS LADEGAILLERIE, BELIEVE

Added Ladegaillerie: “Our digital experience and innovation, our deep relationships with our streaming companions have delivered nice outcomes for our artists and labels, serving to them develop their audiences and their streams at a a lot sooner price than the market.

“Delivering best-in-class  services to all artists, from DIY to established to prime artists and shaping the way forward for  the music business by contributing to construct sturdy, thriving and various native music ecosystems is  what we stand for.”

Imagine’s milestone was additionally applauded by its music platform companions together with YouTube, Amazon Music and Spotify.

“WE ARE  PROUD TO WORK ALONGSIDE BELIEVE AND LOOK FORWARD TO CONTINUING TO INNOVATE TOGETHER, BRINGING MUSIC TO FANS EVERYWHERE

LYOR COHEN, YOUTUBE

Lyor Cohen, World Head of Music, YouTube, stated: “This milestone is large! It’s yet one more signal of Imagine’s dedication to construct a sustainable digital ecosystem for each artist within the  world — a mission that we not solely honor but additionally share by means of our long run partnership.

“We’re proud to work alongside Imagine and stay up for persevering with to innovate collectively, bringing music to followers in all places. Congratulations!“

“BELIEVE IS A  VALUED PARTNER AND WE CONGRATULATE THEM ON THIS INCREDIBLE MILESTONE.”

JEREMY ERLICH, SPOTIFY

Jeremy Erlich, Vice President & World Head of Music, Spotify, added: “Imagine is a  valued companion and we congratulate them on this unimaginable milestone.

“Enabling artists to stay off  their work is core to our mission at Spotify, and we’re proud to have performed an element in serving to Imagine  artists discover, join with, and develop their fan bases all over the world.”

“CONGRATULATIONS TO BELIEVE FOR THIS MILESTONE, AND WE LOOK FORWARD  TO FINDING MORE WAYS FOR ARTISTS AND LABELS TO SHARE AND PROMOTE MUSIC TOGETHER.”

RISHI MIRCHANDANI, AMAZON MUSIC

Rishi Mirchandani, Vice President, Licensing and Technique, Amazon Music, stated: “We’re proud to work with Imagine and supply extra alternatives for artists all over the world to  develop their careers and audiences.

“Congratulations to Imagine for this milestone, and we glance ahead  to discovering extra methods for artists and labels to share and promote music collectively.”Music Enterprise Worldwide