Tuesday, September 1, 2020

BMG revenues up 4.8% to $308m in first six months of 2020 | Music Business Worldwide

BMG’s revenues across records and publishing grew 4.8% year-on-year in the first half of 2020, landing at €282m ($308m).

That was up on the €269m the company posted in the same six months of the prior year.

The company’s operating EBITDA reached €49m ($54m) in H1 2020, which was flat year-on-year.

Bertelsmann said in its interim report: “Thanks to dynamic growth in music streaming, further facilitated by [BMG’s] broad and highly digital setup, any lost revenues due to postponed releases or disruptions of physical distribution [during the pandemic period] were more than compensated for.”

Digital revenues as a share of BMG’s total revenue grew to 59% in the reporting period (H1 2019: 56%).

In the recordings business, BMG said it released successful new work in H1 2019 by rapper KSI, hip-hop duo Run The Jewels (pictured), reggae singer Conkarah, and newcomer Curtis Waters.

New signings included Aloe Blacc, Jason Mraz, Run The Jewels and CHAII.

BMG said its publishing business saw strong performances from Lewis Capaldi, the rock band Blossoms, the rappers Ufo361 and NAV, as well as Tame Impala from Australia. Meanwhile, the Rolling Stones released their first new composition in eight years (Living In A Ghost Town).

New publishing deals were signed with Erika Ender, Diane Warren, Runaway June and Patricia Kelly, among others.

In H1 2020, BMG also signed global partnerships with Britain’s ITV Studios and with ex-Beatle George Harrison’s Dark Horse Records label.

BMG also increased its range of artist services with a move into the neighboring rights business; expanded into Canada in the production music sector; and launched the Renew Records label in the United States.

Meanwhile, BMG Production Music signed a cooperation agreement with the AI-based music-to-video platform MatchTune.Music Business Worldwide

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