BMG and Concord wrapped up their merger, and the merged outfit carries on under BMG. Bertelsmann holds roughly 67 percent, while Great Mountain Partners affiliates grab about 33 percent after pocketing a one-time $1.16 billion cash payout. Regulators signed off on everything.
Nashville hosts the worldwide headquarters, while Berlin covers Europe. Bob Valentine takes the CEO seat, and Thomas Coesfeld chairs the board. The catalog runs past four million works, which is a wild pile of rights to sit on.
Coesfeld pointed at creator investment, rights buying, and AI as the next priorities for writers and artists. Valentine stressed sticking with talent for the long haul, respecting the legacies in-house, and helping the next crop of music land.
The money targets are chunky. Midterm, BMG wants revenue clearing $2.5 billion with $1.2 billion in EBITDA. Pre-merger BMG logged €444 million ($518M) over six months, a 4.9 percent bump, or 8.1 percent organic, with adjusted EBITDA hitting €127 million ($148m) and a 28.7 percent margin, flat against the year before.
Nashville hosts the worldwide headquarters, while Berlin covers Europe. Bob Valentine takes the CEO seat, and Thomas Coesfeld chairs the board. The catalog runs past four million works, which is a wild pile of rights to sit on.
Coesfeld pointed at creator investment, rights buying, and AI as the next priorities for writers and artists. Valentine stressed sticking with talent for the long haul, respecting the legacies in-house, and helping the next crop of music land.
The money targets are chunky. Midterm, BMG wants revenue clearing $2.5 billion with $1.2 billion in EBITDA. Pre-merger BMG logged €444 million ($518M) over six months, a 4.9 percent bump, or 8.1 percent organic, with adjusted EBITDA hitting €127 million ($148m) and a 28.7 percent margin, flat against the year before.
