BMG Revenues Rise 11.5% In First Half of 2023 Through Catalog Buys and Strong Publishing Growth

July 1, said the double-digit percentage growth reflected the company’s “strong performance in the face of an increasingly tough market.”

“Against the background of a soft advertising market, a maturing subscription streaming business and a physical music market impacted by inflation-driven cost increases, this is a very positive result,” said Coesfeld in a statement. Breaking down the revenues on a regional basis, the U.S. was BMG’s biggest market, generating 217 million euros , a rise of £14 million euros on the first half of 2022. Germany was BMG’s second biggest market with revenues of 49 million euros , followed by the United Kingdom, which brought in 42 million .BMG completed 15 acquisitions in the six-month reporting period, including a deal for Paul Simon’s royalty and neighboring rights income to the full recorded Simon & Garfunkel catalog.

In February, BMG reached an agreement with Dark Horse Records over George Harrison’s solo works, marking the first time that the former’s recorded and publishing rights have sat together under the same roof. To commemorate Harrison’s Feb. 25 birthday, Dark Horse and BMG released Harrison’s entire catalog in Dolby Atmos surround sound exclusively on Apple Music.

Alongside BMG, Bertelsmann’s media holdings include RTL Group, Penguin Random House and service provider Arvato. Bertelsmann reported total revenue of 9.7 billion euros for the first six months of the year, up 4.5% on the previous year. Organic revenue growth was 2.3%.

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