GÜTERSLOH, Germany (VIP-NEWS) — Hartwig Masuch has signed a new five-year deal with BMG parent Bertelsmann to stay on as CEO of the global music company.
The news comes less than two months after Masuch guided BMG to generate more than $200m in revenues in the first six months of 2016.
That was up 4.6% year-on-year, while the company boasted an adjusted EBITDA profit margin of 17.6% in the period.
Under Masuch, BMG’s acquisitive music publishing organisation has comfortably become the fourth biggest in the world.
Since relaunching as an independent (free from Sony ownership) in October 2008 – almost eight years ago to the day – BMG has swooped for publishing companies including Bug, Cherry Lane, Stage Three, Chrysalis, Primary Wave, Virgin Music and Talpa.
The past year has seen particular emphasis put on BMG’s growing recorded music operation, resulting in two US No.1 albums from Janet Jackson and Blink 182.