BMG has reported that revenues increased by 11.4% to in the first half of 2019. The results were revealed in the results for parent company Bertelsmann in Germany.
Revenues hit €269 million (£244.4m) in the first six months, driven primarily by organic growth. It follows strong organic growth for BMG in the full year 2018 results.
Operating EBITDA for the first half of 2019 increased by 16.7% year-on-year to €49m (£44.5m). The fastest growth came from BMG’s recordings business, while the publishing business also increased revenues strongly. Frontline recordings revenue was up 30%.
The share of total revenues attributable to digital formats increased to 56%, up from 54%.
BMG has scored UK No.1 albums this year by Kylie Minogue and Jack Savoretti, as well as a streaming hit with Boasty by Wiley, Stefflon Don, Sean Paul and Idris Elba. The company has recently signed Natalie Imbruglia and The Shires.
Other successful releases in 2019 so far include music by Keith Richards, Kylie Minogue, Lil Dicky, Avril Lavigne, Dido, The Cranberries, AJR and Adel Tawil. Kontra K scored a No.1 album in Germany.
BMG launched its 15th international office, in Hong Kong, to expand its footprint in the Asian market.