It was a big year for BMG publishing, which reportedly grew 4.8 percent year-on-year in the first half of 2020, from €269 million ($320 million) to €282 million ($335 million). The group’s operating income reached €49 million ($58 million), which was flat for year-on-year.
Digital revenue shared grew by 59 percent in the H1 period, accounting for some of the company’s largest growths. “Thanks to dynamic growth in music streaming, further facilitated by [BMG’s] broad and highly digital setup, any lost revenues due to postponed releases or disruptions of physical distribution [during the pandemic period] were more than compensated for,” the company said in a press statement.
The company says it saw successful new releases from the likes of rapper and YouTuber KSI, hip-hop duo Run The Jewels (pictured), reggae singer Conkarah and Curtis Waters. BMG has also signed several new artists in addition to Run The Jewels as of late, including Aloe Blacc, Jason Mraz and CHAII. The publishing sector also reportedly saw strong performances from Lewis Capaldi, the rock band Blossoms, rappers Ufo361 and NAV and rock project Tame Impala. Several new publishing deals were also made by Erika Ender, Diane Warren, Runaway June and Patricia Kelly.
BMG announced in the midst of the Black Lives Matter movement that they would be reviewing their historic record contracts for racial inequalities and would create a plan to address those problems. BMG’s success during the COVID-19 pandemic has been somewhat unexpected, as major record companies including Warner Music Group continue to suffer losses as a result of the pandemic.