Bertelsmann, parent company of BMG, has issued the financial results for 2019 for its music arm, with revenues growing 10.1% to €600m (up from €545m in 2018).
Recorded music revenues were up 13.6% while publishing grew 8.3%. The company also reported that its operating EBITDA rose by 12.7% to €138m. It pointed to markets such as the UK, where album sales were up 12% despite a general decline, and the US, where streaming grew 62%, as standout territories for it. 50.2% of BMG’s global revenues come from the US, 16.6% from the UK, 7.7% from its home market of Germany, 5.7% from France, 10.9% comes from other European countries and the remaining 8.9% comes from other global markets. In terms of total revenue for BMG, 65% was from publishing and 35% was from recorded music.
Digital made up 56% of its total revenue (77% for recordings and 40% for publishing).
BMG also mentioned the impact of COVID-19 on the company in recent weeks, saying almost all of its 900 staff globally are now working remotely (but added two employees have tested positive for the virus). It said artists and writers are being updated on developments via the myBMG app. It added, “BMG is combatting negative impacts of the virus (on live performance, synch, physical record sales) with an increased investment in digital marketing.”