Home » 2 Sepetember 2019 » BMG reported a 12 year high revenue of $305 mn for H1/2019

BMG reported a 12 year high revenue of $305 mn for H1/2019

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BMG posted a double-digit increase in revenue during the first 6 months of 2019.

Bertelsmann Music Group’s financials rose on releases by the likes of Keith Richards, Kylie Minogue, Lil Dicky, Avril Lavigne, Dido, The Cranberries, AJR and Adel Tawil, as well as No.1 albums by Jack Savoretti (UK) and Kontra K (DE) as the media giant posted its highest half-year revenue in 12 years.

BMG’s first-half revenue rose 11.4 percent to €269 million ($305 million), “driven primarily by organic growth.” This was up on the €241m posted in the prior-year period.

Operating earnings before interest, taxes, depreciation, and amortization for the six months increased 16.7 percent to €49 million ($56 million).

In the music publishing segment, BMG’s standout successes included Lewis Capaldi, whose worldwide hit “Someone You Love” has now sold over three million equivalent copies, and Juice WRLD, who scored his first US No.1 album.

Bertelsmann Chairman and CEO Thomas Rabe said, “In addition to our strategic progress, we set important parameters in the first half of the year that will shape our company long-term. We want to become the technologically leading media, services and education company.”

 

BMG’s new contracts

New record contracts were signed with The Shires, Seeed, the Zac Brown Band, Sugar Ray, and Richard Marx. New publishing agreements were signed with Cage the Elephant, AnnenMayKantereit and Jason Duke in the period.

Major transactions during the first half of the year included an extension of the company’s relationship with Black Sabbath, the launch of the new Trojan Jamaica label and an extension of BMG’s global music publishing partnership with Latin music label DEL Records.

In February, BMG songwriters were behind a record 24 number-one hits across the Billboard charts, said Bertelsmann.

In February 2019, BMG has established a digital licensing and administration contract for its Anglo-American repertoire with SESAC Digital Licensing for the fast-growing Indian market.

BMG launched its 15th international office, in Hong Kong, to further strengthen its footprint in the Asian market.

 

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Abhishek Singh

Author: Abhishek Singh

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