BMG Nears $1 Billion in 2023 Revenues on Catalog Deals, Publishing Business

📆 26/03/2024 1:14 p. m.
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BMG earnings for 2023 bolstered by revenue nearing $1 billion on the strength of catalog deals and publishing gains.

reported record high revenues of 905 million euros in 2023 as catalog acquisitions and growth in its publishing division from hit songs and albums by

Catalog acquisitions have been a key component of Coesfeld’s contributions since he became BMG’s chief financial officer in 2021. Backed by the deep pockets of its parent company, the European media conglomerate Bertelsmann, BMG continued its steady pace of buying in 2023 with 30 catalog acquisitions, including those by The Hollies, Jet, Dope Lemon, Martin Solveig and Paul Simon’s music interests in Simon & Garfunkel’s recordings.

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