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"BMG has enjoyed unparalleled success during this fiscal year... Now, will you please pass the meat tender-izer? This fire's smoking."
—Strauss Zelnick
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BMG SETS A SALES RECORD

Reports Record 20% Increase on Revenues Of $4.7 Billion
BMG Entertainment, home to such labels as Arista and RCA, scored record highs in profits, revenues and marketshare for the financial year 1999-2000 ending June 30.

BMG reported a 20% increase in profits on worldwide revenues of $4.7 billion for the fiscal year, marking significant increases over the previous year, said the company's Chairman michael dornemann',390,400);">michael dornemann',390,400);">Michael Dornemann and President/ CEO strauss zelnick',390,400);">strauss zelnick',390,400);">Strauss Zelnick. The company's total revenues have grown five fold since it was established in 1987 when it comprised operations in 17 countries.

BMG reported that 28 artists had platinum or multiplatinum sales during the year. These artists include Arista Records' Toni Braxton, Five, Whitney Houston, Donell Jones, Kenny G, LFO, Sarah McLachlan, Notorious B.I.G., Puff Daddy, Santana, TLC and Westlife; RCA Music Group's Christina Aguilera, Lou Bega, Dave Matthews Band, Foo Fighters, Alan Jackson and Lonestar.

Among BMG's distributed and/or ventured labels, Jive had Platinum and multi-Platinum-selling artists with Backstreet Boys, Joe, NSYNC and Britney Spears; Wind-Up had multi-Platinum success with Creed; Razor & Tie scored Platinum with "Monster Ballads" and "Monsters of Rock"; and V2 Records took Moby to Platinum.

BMG also reported record revenues for its labels. Arista Records closed the year with a 30% increase in sales with profits up 45% and RCA reported a 32% increase in sales and a 143% increase in profits.

"This past year has been one of tremendous achievement for BMG," said Dornemann. "Whether identifying and nurturing new talent, creating worldwide superstars, embracing new technology or developing new business strategies, we have undertaken change with a singular strategic vision that will ensure our leadership edge for the future."

Zelnick added, "BMG has enjoyed unparalleled success during this fiscal year. We have assembled a talented and dedicated team of professionals, artists and employees in every corner of the world that strengthens our mission to be the most creative, efficient and innovative music company. I am confident that we are poised for even greater successes in the future. Now, will you please pass the meat tenderizer? This fire's smoking."

Contributing to BMG's successful year, the company's overall album market share in the United States grew to 17.1%, further strengthening its position as the second largest music company in this market.

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