UPDATE: Believe Digital Acquires TuneCore

UPDATE: Believe Digital has confirmed that they have acquired D.I.Y. digital distributor TuneCore in a move that truly reshuffles the indie music distribution deck.

"Today, TuneCore, the powerhouse digital music distribution and music publishing administration company which has earned Independent Artists over $504 million to date, announced it will be joining with Independent label services company, Believe Digital," read the press release.

A sources with knowledge of the deal tells Hypebot that's the partnership is more of an acquisition or merger with Believe Digital the senior partner. Believe Digital has now confirmed that it has acquired TuneCore. The two companies will retain their own operations and staffing.

French based Believe Digital is a leading independent digital distributor representing 8 million tracks with offices in 29 countries and a staff of 250. “There is a tremendous opportunity for TuneCore & Believe to champion independent artists and their entrepreneurship, and together our focus will be to provide the best comprehensive services to a wider range of musicians around the world."

The deal will provide TuneCore Artists with an opportunity to tap into Believe Digital’s global services. Artists will now have access to a wider digital distribution network and a bigger tool kit. "Artists will continue to have full control over which products and services you choose to fit your individual needs," promised TuneCore CEO Scott Ackerman in a letter to TuneCore artists.

Here's what TuneCore and Believe Digital see has their combined strengths:

· TuneCore plus Believe Digital worldwide distribution and feature opportunities with iTunes, Amazon, Spotify and other key digital partners

· TuneCore worldwide revenue collection. Artists keep 100% of sales revenue and rights.

· TuneCore worldwide royalty collection with Music Publishing Administration. TuneCore will continue to register, license and pitch your songs in over 60 countries.

· TuneCore & Believe global support with offices in key markets worldwide.

· Believe Digital’s experienced team of music industry and digital marketing experts and video channel managers will continue to provide best in class label services to meet artists’ needs.

· Artist services and products to meet the needs of musician-entrepreneurs.

· Detailed reporting and knowledgeable customer service to help you manage and grow your business.