BMG Posts Best-Ever Results for First Half of 2022
variety.comJem Aswad Senior Music Editor BMG has posted the best-ever half-year results in its 14-year history, with revenues up 25% year over year, according to an announcement from the Berlin-based music company and its parent, Bertelsmann.
According to the report, revenue for the period that ended June 30 was up 25% to approximately $405.7 million and operating EBITDA increased 46% to $79.8 million.
And even as the catalog market is cooling elsewhere due to high prices and interest rates, its spending on catalog acquisitions tripled over the same period last year as part of Bertelsmann’s Boost program.
The company’s revenue for the half year was also diversified, with 60% from publishing, and 40% from recordings. BMG’s acquisitions in 2022 have continued its emphasis on steady-selling, established catalogs: blues legend John Lee Hooker, a 50% stake in veteran Scottish rockers Primal Scream, a deal to represent George Harrison’s publishing catalog.
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