Tuesday, March 26, 2019

BMG revenues rose 7.5% in 2018 to $644m | Music Business Worldwide

BMG’s revenues grew by 7.5% in 2018, hitting €545m ($644m). The Bertelsmann-owned firm said its results were driven by organic growth.

BMG said that it benefited in particular from the expansion of its recordings business, which grew “strongly” during the reporting year.

The company’s operating EBITDA rose 17.3% to €122m ($144m; previous year: €104m), boosted by the increase in revenues and economies of scale.

The EBITDA margin rose to 22.5% (previous year: 20.5%).

In the recordings business, BMG found success with artists including Lil Dicky, Jason Aldean, Kylie Minogue, The Prodigy and Kontra K.

BMG also signed new contracts with artists including Dido, Marianne Faithfull, Lenny Kravitz and Adel Tawil.

Keith Richards, whose publishing interests have been represented by BMG since 2013 along with Mick Jagger’s, additionally signed a worldwide contract for his solo recordings.

BMG acquired the world music label World Circuit Records and the US hip-hop and rap label RBC Records.

In the music publishing business, world tours by artists including Roger Waters and The Rolling Stones contributed to higher collections, as did BMG’s administration of the Fremantle music catalog.

Successful releases of works by songwriters including Jason Evigan, Bebe Rexha, George Ezra, Jess Glynne and The BossHoss added to business growth.

Among the most prominent music publishing signings were Ringo Starr and JuiceWRLD. Lenny Kravitz and Yusuf a.k.a. Cat Stevens renewed their contracts with the company.

BMG songwriters contributed to three of the five biggest summer hits on US radio.

BMG Production Music, which provides music specifically for movies, video games and advertising, was expanded and now has a presence in eight territories thanks to new offices in Singapore and Hong Kong.

BMG’s growing films business developed successfully with highlights including US distributor Magnolia Pictures acquiring North American rights to BMG’s first major film production, a documentary about rock singer Joan Jett (“Bad Reputation”). In the books business, the number of titles published by BMG doubled compared to 2017, and included the illustrated books “Johnny Cash at Folsom and San Quentin” and “Dreaming of Dylan.”Music Business Worldwide

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