BMG Reports $1 Billion Revenue, Boosted by 16% Digital Growth

BMG reported a 6.4% increase in annual revenue for 2024, reaching €963 million ($1.04 billion), with an organic growth of 8.1%. The company's success was driven by a significant rise in digital revenue, which grew by 16% and now constitutes 68% of total revenue, largely due to streaming. Adjusted operating EBITDA rose by 37% to €265 million ($287 million), achieving a record EBITDA margin of 28%. CEO Thomas Coesfeld credited the 'BMG Next' strategy, which includes direct licensing agreements and a focus on local markets, for these impressive results. BMG also invested approximately half a billion euros in catalog acquisitions and signed new deals with high-profile artists. The U.S. remained BMG's largest market, accounting for nearly half of its revenues.