BMG revenues top $270m in first half of 2017, up 28% year-on-year

BMG is comfortably on course to post revenues above $500m this year, according to the latest figures from parent Bertelsmann.

The German company’s half-year results show BMG generated €233m ($277m) in sales in the first six months of 2017.

That was 28% up on the €182m revenues recorded in H1 2016.

BMG said this year’s growth was primarily down to “the recording and music publishing business in the United Kingdom and the United States, as well as the music publishing business in Australia”.

Operating EBITDA in the first six months of 2017 stood at €40m ($48m), a year-on-year increase of 25% (H1 2016: €32 million).

That translates into a H1 2017 profit margin of over 17%.

BMG finalized its acquisition of Nashville’s BBR Music Group (BBRMG) in the reporting period for over $100m.

BBRMG includes the country music labels Broken Bow Records, Stoney Creek Records, Wheelhouse Records and Red Bow Records, as well as the music publishing company Magic Mustang Music.

BMG also strengthened its portfolio in the recorded-music rights sector by signing contracts with international artists including Avril Lavigne and Fergie in the United States, Kylie Minogue in the United Kingdom and Mando Diao in Germany.

In publishing, its half-year successes included renewing contracts with the American singer-songwriter Hillary Lindsey and DJ Khaled.

The firm boasts publishing shares in recent international hits such as “I’m the One,” “Despacito” and “Wild Thoughts”.Music Business Worldwide

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