Music Business News: Germany

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Germany generated 139bn music streams during COVID-hit 2020, nearly a third more than in 2019

New report from GfK Entertainment and BVMI sheds light on the markets streaming figures

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BMG publishes results of historic royalties review, pledges action and invites other labels to probe for evidence of racial disadvantage

The initiative has been welcomed by the Black Music Action Coalition

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Jean-Sebastien Permal named Director of A&R, Continental Europe and Africa at Sony Music Entertainment

Permal will help drive the company’s A&R strategy across the region

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SoundCloud boss Kerry Trainor to step down; Mike Weissman will become CEO in January

SoundCloud's future expansion under Weissman will partly be fuelled by a $75m investment in the company from SiriusXM in Q1 this year

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BMG acquires Cheyenne Records catalog including music by Germany’s most successful girl group No Angels

Catalog contains more than 600 master recordings

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SoundCloud’s revenues jumped 37% to $166m in 2019 – and it’s just posted its first ever profitable quarter

Firm's $10m-plus acquisition of Repost Network last year appears to be paying off

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Dominique Casimir takes charge of BMG’s publishing and recorded music operations outside North America and the UK

Exec adds Australia, China and Latin America to her global remit

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BMG inks label deal with composer Nils Frahm and manager Felix Grimm

Newly launched production company, Leiter, is based in Germany's Berlin-Kreuzberg