Romanian music company Global Records is expanding its operations into Germany, the fourth-largest recorded music market in the world. The company, which claims to be Eastern Europe’s largest independent record label, will open a new office and studios in Berlin. The move follows the news that Germany generated €1.056 billion in recorded music revenues, a 6.6% YoY increase. Global Records plans to release over 550 tracks in 2023 and forecasts full-year revenues of €30 million, representing 20% YoY growth.
Global Records aims to create a bridge between Central and Eastern Europe (CEE) and Western Europe through its expansion into Germany. The company already has success with artists in the CEE region as well as in countries like France, the Nordics, and Benelux. The company has signed three new artists through its German division. Diana Munteanu, Head of Label at Global Records, emphasizes the increasing localization of music tastes and the support for local talent through platforms like DSPs and TikTok. The company aims to capitalize on this trend by connecting artists from both the Eastern and Western parts of Europe.
Julian-Dominik Vicari, who joins Global Records as the head of the German market, highlights the company’s inclusive and creative culture. Global Records plans to utilize the multicultural audience, open club scene, and diverse genres and cultures of Germany to promote dance music. The company predicts that the German recorded music market will continue to experience steady growth and offers potential for expansion. It plans to monitor developments closely and provide its artists with the best setup and ways to distribute and market their music. The company also aims to contribute to the market creatively and establish itself as a prominent player.