BMG continues to show solid results in the latest report from its parent company Bertelsmann, with operating EBITDA up 24% to $47 million on revenues of $276 million, a 28% bump. “This development was driven primarily by the recording and music publishing business in the United Kingdom and the United States, as well as the music publishing business in Australia,” the company said in a statement accompanying the results, which represent the first half of 2017, ending June 30.
The company, overseen by CEO Hartwig Masuch, also pointed to its recent acquisition of the Nashville-based BBR Music Group (comprising the Broken Bow, Stoney Creek, Wheelhouse and Red Bow labels as well as the Magic Mustang publishing outfit), which includes Jason Aldean, Dustin Lynch and others, along with the chart success of Nickelback on the label side and DJ Khaled in publishing. Along with Khaled’s hits, BMG publishing also has shares in the international hits Daddy Yankee’s “Despacito” and Roger Waters’ album “Is This the Life We Really Want?”
The label has been on a signing tear in recent months, inking international artists including Fergie (U.S.),Avril Lavigne (Canada), Kylie Minogue and Mando Diao.