{"id":162287,"date":"2023-08-30T09:42:48","date_gmt":"2023-08-30T08:42:48","guid":{"rendered":"https:\/\/www.musicbusinessworldwide.com\/?p=162287"},"modified":"2023-08-30T09:51:56","modified_gmt":"2023-08-30T08:51:56","slug":"bmg-revenues-up-11-5-yoy-in-h1-2023-hitting-447m-as-operating-ebitda-grows-22-6","status":"publish","type":"post","link":"https:\/\/www.musicbusinessworldwide.com\/bmg-revenues-up-11-5-yoy-in-h1-2023-hitting-447m-as-operating-ebitda-grows-22-6\/","title":{"rendered":"BMG revenues up 11.5% YoY in H1 2023, hitting $447m, as operating EBITDA grows 22.6%"},"content":{"rendered":"

BMG saw its global revenues grow by double digits \u2013 11.5% \u2013 year-on-year in the first half of 2023.<\/p>\n

According to a new interim report<\/a> from BMG parent, Bertelsmann, the Berlin-headquartered music company generated EUR \u20ac414 million (USD $447m)<\/strong> in the six months to end of June this year, up on the EUR \u20ac371 million<\/strong> it generated in the equivalent prior-year period.<\/p>\n

BMG’s profit also grew significantly. In H1 2023, BMG’s operating EBITDA hit \u20ac90 million ($97m)<\/strong>, up 22.6% YoY<\/strong><\/span>.<\/p>\n

<\/div>
<\/div>
<\/div> <\/div> \n

BMG generated more than half (\u20ac217m<\/strong>) of its H1 2023 revenues in the United States.<\/p>\n

A further \u20ac49 million<\/strong> was generated in Germany, with \u20ac42 million<\/strong> generated in the UK, \u20ac29 million<\/strong> generated in France, and \u20ac42 million<\/strong> generated in ‘other European countries’ (i.e. outside the UK, Germany, and France).<\/p>\n

Some \u20ac33 million<\/strong> was generated in the rest of the world (outside the markets specifically mentioned here).<\/p>\n

<\/div> <\/div> \n

The first half of 2023 was a significant period in BMG’s management, with long-time CEO, Hartwig Masuch, stepping down from the role at the end of June.<\/p>\n

Since July 1, Thomas Coesfeld, formerly BMG’s CFO, has been Chief Executive of the company.<\/a><\/p>\n

\n
<\/a><\/i><\/a><\/a><\/figure>\n
\n

Bertelsmann confirmed to investors today that BMG made 15 acquisitions during the first half of 2023, including the song catalog of British rock and pop band The Hollies, as well as a significant share of Paul Simon\u2019s music interests<\/a>, including the rights to royalties from Simon & Garfunkel\u2019s recordings.<\/p>\n

In its interim half-year report, published today (August 30), Bertelsmann wrote: “In its ongoing business [BMG] secured the right to release George Harrison\u2019s solo recordings, thus uniting the ex-Beatle\u2019s recorded catalog and publishing rights under a shared umbrella.<\/p>\n

“In the recording business, [BMG’s] most popular new releases came from Jelly Roll, Kylie Minogue, Rita Ora, Godsmack and McFly; among the most listened-to catalog titles were tracks from M\u00f6tley Cr\u00fce, Cro, Black Sabbath and George Harrison.”<\/p>\n

<\/div> <\/div> \n

Bertelsmann added that BMG’s strong earnings growth resulted “in particular” from revenue growth in its publishing business.<\/p>\n

Frontline successes in that publishing business in the first six months of 2023 included \u201cI\u2019m Good (Blue)\u201d co-written and co-performed by BMG writer Bebe Rexha, \u201cBoy\u2019s a Liar Pt. 2\u201d (co-written by Mura Masa and performed by PinkPantheress and Ice Spice) and \u201cWish You The Best\u201d by Lewis Capaldi.<\/p>\n

BMG’s best-performing catalogs included works by Blondie, Daryl Hall and John Oates, George Harrison, Jean-Michel Jarre, Juice WRLD, Mick Jagger and Keith Richards, and ZZ Top, said Bertelsmann.<\/p>\n

Bertelsmann said today that Thomas Coesfeld\u2019s focus for BMG going forward will “include a more intensive collaboration with customers and partners, delivering greater efficiency and effectiveness and renewing the company\u2019s corporate culture”.<\/p>\n

\n

Currency exchanges in this report have been made at the average rate for the period (H1 2023), according to European Central Bank data.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

In H1 2023, BMG’s operating EBITDA hit \u20ac90 million ($97m), up 22.6% YoY<\/p>\n","protected":false},"author":3,"featured_media":162293,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-162287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts\/162287","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/comments?post=162287"}],"version-history":[{"count":0,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts\/162287\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media\/162293"}],"wp:attachment":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media?parent=162287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/categories?post=162287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/tags?post=162287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}