Hartwig Masuch has signed a new five-year deal with BMG parent Bertelsmann to stay on as CEO of the global music company.
The news comes less than two months after Masuch guided BMG to generate more than $200m in revenues in the first six months of 2016.
That was up 4.6% year-on-year, while the company boasted an adjusted EBITDA profit margin of 17.6% in the period.
Under Masuch, BMG’s acquisitive music publishing organisation has comfortably become the fourth biggest in the world.
Since relaunching as an independent (free from Sony ownership) in October 2008 – almost eight years ago to the day – BMG has swooped for publishing companies including Bug, Cherry Lane, Stage Three, Chrysalis, Primary Wave, Virgin Music and Talpa.
The past year has seen particular emphasis put on BMG’s growing recorded music operation, resulting in two US No.1 albums from Janet Jackson and Blink 182.
“It’s about recognising the dissatisfaction of artists with the old ways of doing things, and coming up with something relevant to today which meets their needs.”
Hartwig Masuch on BMG’s approach
It celebrated another No.1 album in the UK in June when Rick Astley’s 50 topped the chart. (Blink 182’s California also reached the summit in the UK in July.)
BMG became a serious global player in the recorded music space when it snapped up Sanctuary and Mute in 2013 for a reported combined price of £47m ($70m).
Other acquisitions since them have included Infectious, Vagrant, Union Square Music, Skint/Loaded, Rise Records, S-Curve and Atmospheriques.
In June, Masuch told MBW of BMG’s recorded music ambitions: “It’s early days, but it is all going in the right direction. BMG is very serious about building a strong recordings business.
“It’s not complicated. It’s about delivering a strong and reliable service. It’s about recognising the dissatisfaction of artists with the old ways of doing things, and coming up with something relevant to today which meets their needs.”
News of Masuch’s new five-year deal was originally reported in German newspaper Wirtschaftswoche.Music Business Worldwide