BMG’s revenues were up 22% to $573 million in 2017, parent company Bertelsmann revealed in a report Tuesday. The bump is “attributable to higher revenues across all market segments and regions through organic growth and acquisition, especially in the recorded music business and in the British, US and Australian publishing business,” the report said. The company, helmed by CEO Hartwig Masuch (pictured), generated around $516 million in 2016.
BMG’s operating EBITDA reached $118 million, up up 9.5% from 2016. Its operating EBITDA represented a profit margin of 20.5%, dipping from 22.8%.
In a letter to shareholders, the company singled out several purchases and catalog acquisitions, including the BBR Music Group (with country music labels Broken Bow, Stoney Creek and Wheelhouse, as well as the music publisher Magic Mustang Music), Pretenders founder Chrissie Hynde, and in recorded music Nickelback, Morrissey, Avril Lavigne, Fergie and Kylie Minogue. It also noted that BMG songwriters responsible for each of the top three songs in the Billboard Hot 100 for 13 consecutive weeks in summer 2017.
It also touted its “enhanced representation” in Canada and an expansion of activities in China, as well as the extension of “the range of services it offers to artists with an entry into the movie and television business,” notably its move into feature-length music-related films, including “Bad Reputation,” a Joan Jett documentary that premiered at Sundance.