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Thursday, August 31, 2017

BMG UP 28% IN FIRST HALF OF 2017

Bertelsmann’s label and publishing group, the Hartwig Masuch-led BMG, was one of the brightest spots in the first half of the German company’s year, generating revenue of €233m ($277m), a 28% spike over 2016.

Growth at both units in the U.S. and U.K. drove the increase as did music publishing in Australia. The company saw a 17% rise in profit margin on an EBITDA of $48m.

It helped that they have a publishing cut of “Despacito.”

During the reporting period, BMG purchased Broken Bow Music Group, which includes the country labels Broken Bow, Stoney Creek, Wheelhouse and Red Bow, as well as music publisher Magic Mustang Music.

Overall, BMG outperformed the parent company. Bertelsmann’s profit was €308m ($367.5m), up 7% from H1 2016.

 
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