BERLIN (Celebrity Access) – As part of Bertelsmann’s 2024 half-year financial report, the company revealed that its record label BMG achieved double-digit revenue growth and record EBITDA in the first two quarters of 2024.
According to Bertelsmann, BMG’s revenue in the first half of the year increased by 11.1% year-on-year to 459 million euros, driven by strong growth in digital revenue streams.
Adjusted operating EBITDA grew by 35.5% to €122 million during the same period, while EBITDA margin rose to 26.5% from 21.7% in the first half of 2023.
BMG’s recorded music business is supported by Jelly Roll, Lainey Wilson (Grammy Award for Best Country Album), Bruce Dickinson, Everything Everything, Sum 41, Crowded House, Pepe and Paco de Lucía, Kylie Minogue (Grammy Award winner ) support.
In music publishing, BMG reported 10 catalog acquisitions during the reporting period, bringing total investment in music IP since 2021 to approximately €900 million.
Record labels signed during the reporting period include Mustard, YG, New Kids on the Block and The Script, while publishing companies include Cirque du Soleil, KT Tunstall and Tyron Hapi.
