BMG’s latest financial results are out, and they’re impressive. The company saw its annual revenues grow by 30.6% to €866m ($939.2m at current exchange rates) in 2022, citing organic growth in both its publishing and recordings businesses.
The figures were published by parent company Bertelsmann, which noted that the growth in revenues was accompanied by considerable spending on music and musicians.
“BMG invested a record €509 million in the acquisition of music catalogs and artist signings in 2022,” is how the results put that.
The figures were also broken down geographically, with 53.9% of BMG’s revenues coming from the US; 12.2% from the UK; 8% from Germany; 6.8% from France and 12% from other European countries, with 7.1% coming from the rest of the world.
Digital now accounts for 70% of BMG’s business, up from 63% in 2021. The company’s headcount is growing too, although carefully: it ended 2022 with 1,111 staff, up from 1,058 the year before.
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