BMG Revenues Up 4.6% To $203 Million
August 31, 2016 at 6:04 AM (PT)
BMG parent company BERTELSMANN has reported its latest financial information, which includes its music company details for the first time.
MUSIC BUSINESS WORLDWIDE reports BMG is, "likely to post somewhere close to $500m this year, with an impressive profit margin. In the first six months of 2016, BMG revenues grew 4.6% to €182m ($203m). That was up from €174m ($194m) in the same period of 2015. Operating EBITDA (earnings before interest, taxes, depreciation and amortization) amounted to €32m ($36m), up by 6.7% year on year (H1 2015: €30m). BMG’s revenues might still be multiples behind the majors, but in profitability terms it may have left its rivals envious. The company’s EBITDA translated into an adjusted margin of 17.6%."
- "The ROGER WATERS signing is one of the music industry’s most important deals of the first half of 2016 and marks another creative milestone in the history of BMG."
- "With BMG’s support, RICK ASTLEY releases his first album in ten years -- and his most successful in 30 years."
- "BMG songwriters contribute to more than 20 #1 albums in the UNITED STATES, U.K. and GERMANY, including releases from RIHANNA, BEYONCÉ and VOLBEAT."