BMG revenue grows 1.9% in 2020, topping $680m

4 years ago
General

BMG survived the year of the pandemic, actually coming out of 2020 with great results.

 

According to financial statements released by the company’s German parent organization, Bertelsmann, BMG revenues rose to €602 million (about USD $680 million) across the course of 2020.


This figure was a 1.9% growth of revenue from €600 million BMG reported for the year of 2019. 


Bertelsmann stated to investors in its annual report: “Thanks to [BMG’s] focus on digital business and strong growth in music streaming, BMG was able to offset declines due to the effective shutdown of record stores worldwide.”


About 49.9% of BMG’s income in 2020 was generated in the United States, with 13.7% in the UK, 8.3% in France, and 7.5% in Germany.


BMG runs 20 international offices in 12 core music markets, representing more than 3 million songs and recordings.


At the close of 2020, BMG had 974 employees internationally.