BMG, the world’s largest global music company outside the three majors, and Universal Music Group (UMG), the world’s leading music-based entertainment company, today announced the formation of an alliance under which the companies will explore a range of collaborative initiatives to further expand opportunities for BMG-signed artists around the world.
The first project under this alliance will be moving the distribution of physical formats of BMG’s music – including vinyl and CD for thousands of BMG-signed artists – to UMG’s Commercial Services division, which has operations in 60 countries covering more than 200 markets. The transition of physical products to UMG is expected to commence the second quarter 2024 and will be fully transitioned by the end of 2024. Further collaborations between BMG and UMG are already under discussion from exploring shared positions on industry matters to joining forces in adjacent business lines.
In making the announcement, BMG CEO Thomas Coesfeld said, “Our alliance with UMG is a significant step to further enhance our service to BMG-signed artists. We are delighted to partner with UMG, the world leader in music-based entertainment on our thriving physical recorded music business. Their scale, technology and commitment promises to further expand opportunities for BMG-signed artists around the world.”
Sir Lucian Grainge, Chairman and CEO of Universal Music Group, said, “BMG has brought a fresh vision to the music business, and we look forward to partnering with BMG on a variety of initiatives to provide greater opportunities to artists and our respective companies.”
BMG’s recordings catalogue comprises around half a million tracks and the work of artists including Kylie Minogue, Jelly Roll, Lainey Wilson, AJR, Jason Aldean, Rick Astley, Black Sabbath, Buena Vista Social Club, Cro, 5 Seconds Of Summer, Max Giesinger, Andy Grammer, George Harrison, Iron Maiden, The Kinks, Dustin Lynch, Mecano, Mötley Crüe, Motörhead, Nena, Rita Ora, Louis Tomlinson, and many others.
BMG’s recorded music business has tripled its revenues over the past seven years, and is currently enjoying its most successful period yet with strong performances from artists including Jelly Roll (Whitsitt Chapel), Kylie Minogue (Tension), Rita Ora (You & I) and Lainey Wilson (Bell Bottom Country) and with releases to come from artists including Jason Aldean, Jennifer Lopez, Chief Keef, Spiritbox and Mötley Crüe.
Source
BMG
