(Hypebot) – BMG continued to expand its market position in the first six months of the 2017 financial year, according to financial results released this week. Overall revenue increased by 28% t to €233 million / USD $265.5 million.
BMG Financial Report Highlights
BMG acquires the BBR Music Group, securing a relevant position in the lucrative country music market.
BMG signs contracts with international artists such as Avril Lavigne, Fergie, Kylie Minogue and Mando Diao.
BMG clients, including Nickelback (records) and DJ Khaled (music publishing), experience significant chart success.
Mirroring both major and indie music groups, BMG this week announced a 28% revenue jump driven by its recording and music publishing business in the United Kingdom and United States, as well as, music publishing in Australia.
Operating EBITDA was €40 million, a year-on-year increase of 25%.
With its recent acquisition of the BBR Music Group, BMG made its biggest single acquisition in the recording business since launching in 2008. BBRMG includes the country music labels Broken Bow Records, Stoney Creek Records, Wheelhouse Records and Red Bow Records, as well as the music publishing company Magic Mustang Music. The deal also gave BMG a significant position in the country music market.
BMG has recently signed Avril Lavigne and Fergie in the United States, Kylie Minogue in the United Kingdom and Mando Diao in Germany, and renewed contracts with the Hillary Lindsey and DJ Khaled.
In the first half of 2017, BMG clients achieved significant chart success, including shares in the international hits “I’m the One,” “Despacito” and “Wild Thoughts” and Roger Waters’s album “Is This the Life We Really Want?”