BMG H1 Financials Led by 8% Revenue Jump
Thomas Coesfeld (Frederike van der Stræten)
BMG is heading into the back half of 2026 with its balance sheet humming and its appetite for music rights apparently undiminished.
The Bertelsmann-owned music company posted €444m ($520m) in revenue for the first half of the year, up 5% on a reported basis and 8% organically, with adjusted operating EBITDA climbing 4% to €127m. The EBITDA margin held at a formidable 29%, matching the record level established in H1 2025.
The results extend a run of increasingly robust profitability at BMG. For full-year 2024, the company delivered 8.1% organic revenue growth to €963m and adjusted operating EBITDA of €265m, up 37%. Its digital business accounted for 68% of revenue.
CEO Thomas Coesfeld said, “Through our BMG Next program, we have become a more focused, more profitable, digital-first business—one that is better able to invest in artists, songwriters and music rights for the long term.”
BMG made the biggest first-half investment in music rights in its history, taking its cumulative spending through Bertelsmann’s Boost program to $1.8b since 2021. The H1 haul included 14 acquisitions spanning publishing and recorded assets, the company broadening its reach into genres like EDM and country.
Among the headline catalog deals were rights from Jelly Roll, Fuji Music Group—including works associated with John Lee Hooker, Hal David and Chess Records—X JAPAN producer-songwriter Luca Anzilotti and Jet. On the publishing side, BMG added Gary Barlow, Tricky Stewart, Kybba and MCR-T; Jamiroquai, Yung Gravy, Ocean Sleeper, Carly Pearce and Tash Sultana joined the recorded-music roster.
The rights strategy is being paired with a steady frontline business. BMG pointed to major releases by Lily Allen, Louis Tomlinson and Marteria. “Blue,” by yung kai, Haddaway’s enduring “What Is Love” and LP’s “Lost on You” were among the top catalog performers.
Technology is increasingly part of the equation, too. BMG says it is using AI and data to identify audiences for artists and releases, sharpen marketing and fan engagement, activate catalog and find additional revenue opportunities while deploying AI internally to improve productivity. During H1, the company introduced BMG Motion AI, which enables scalable creation of motion art for Apple Music.
All of which sets the stage for the considerably bigger corporate play ahead: the planned combination of BMG and Concord, announced in April and backed by more than $1.16b in planned cash investment from Bertelsmann. Subject to regulatory approval, the deal is expected to create what the companies describe as the world’s leading independent music company, with Bertelsmann owning approximately 67% and affiliates of Great Mountain Partners approximately 33%.
“Together with Concord, we will have greater scale, broader capabilities and increased capacity to invest in artists and songwriters, strengthen the support we provide creators and partners and create greater long-term value from music rights,” Coesfeld said.