BERLIN (CelebrityAccess) — As part of Bertelsmann’s half-year financial reports for 2024, the company announced that its label division BMG reported double-digit revenue growth and record EBITDA in the first two quarters of 2024.

According to Bertelsmann, BMG recorded an increase in revenue of 11.1 percent year-on-year to 459 million euros in the first half of the year. This increase is due to strong growth in its digital revenue sources.

Adjusted operating EBITDA increased by 35.5 percent to EUR 122 million in the same period, while the EBITDA margin increased from 21.7 percent in the first half of 2023 to 26.5 percent.

BMG’s recorded music business benefited from releases by Jelly Roll, Lainey Wilson, who won a Grammy for Best Country Album, Bruce Dickinson, Everything Everything, Sum 41, Crowded House, Pepe and Paco de Lucía, Kylie Minogue, who won a Grammy for Best Pop-Dance Recording, and Lenny Kravitz.

In the music publishing sector, BMG reported ten catalogue acquisitions during the reporting period, bringing total investments in music IP since 2021 to around EUR 900 million.

Signings during the period included Mustard, YG, New Kids on the Block and The Script in sound, and Cirque du Soleil, KT Tunstall and Tyron Hapi in publishing.