BMG CEO Says Digital Distribution Changes Are ‘Paying Off’ as Company Reports 11% Revenue Gain ...Middle East

BMG CEO Thomas Coesfeld says taking his company’s digital distribution in-house and operational changes — two initiatives launched during his first year at the helm — are paying off. The Berlin-based music company reported on Wednesday (Aug. 28) that it generated 459 million euros ($491.7 million) in revenue in the first half of 2024, marking an 11.1% increase from the year-ago period thanks to strong growth in digital income streams. Digital revenue, which contributed nearly 70% of BMG’s overall revenue for the period, rose 20.3% in the first half 2024 compared to 2023, as BMG exited a contract with Warner Music Group

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