BERLIN (CelebrityAccess) — As part of Bertelsmann’s 2024 half-year financial filings, the company revealed that its label division, BMG reported double-digit revenue growth and record EBITDA in the first two quarters of 2024.
According to Bertelsmann, BMG reported a revenue increase of 11.1 percent year-over-year to 11.1 percent to €459 million during the first half of the year, propelled by strong growth in its digital income streams.
Adjusted operating EBITDA grew by 35.5 percent to €122 million during the same period while EBITDA margin rose to 26.5 percent from 21.7 percent in the first half of 2023.
BMG’s recorded music business was bolstered by releases from Jelly Roll, Lainey Wilson, who won a Grammy for Best Country Album, Bruce Dickinson, Everything Everything, Sum 41, Crowded House, Pepe and Paco de Lucía, Kylie Minogue, who won a Grammy for (Best Pop Dance Recording) and Lenny Kravitz.
On the music publishing front, BMG reported 10 catalog acquisitions during the reporting period, bringing total investments in music IP to since 2021 to around €900 million.
Signings during the reporting period included Mustard, YG, New Kids on the Block, and The Script in recordings and Cirque du Soleil, KT Tunstall, and Tyron Hapi in publishing.
