BMG reports 4.9% revenue growth in first half of 2026

The Bertelsmann-owned company said organic revenue increased by 8.1% during the six-month period. Operating EBITDA rose 4% year on year to $147 million, while its EBITDA margin remained at about 29%.

Underlying recorded music streaming subscription revenue recorded high single-digit growth during the period, according to BMG.

Bertelsmann’s first-half report showed that rights and licences accounted for the majority of BMG’s revenue, generating $486 million. Own products and merchandise contributed a further $27 million.

The United States accounted for approximately half of BMG’s revenue during the period, broadly in line with the first half of 2025. Revenue from the UK increased by 9% year on year to $58 million, while revenue from other European countries rose 13% to $101 million.

BMG also reported its highest first-half investment in music rights in the company’s history. Deals involving music rights associated with artists and catalogues including Jelly Roll, Fuji Music Group and Jet contributed to the investment during the period.

Since 2021, BMG said it has invested approximately $1.85 billion in music catalogues.

The company also said it was using artificial intelligence across its operations to increase productivity, engage audiences and make greater use of its catalogue.

“Our first-half results reflect the strength of the business we have built over the past several years,” BMG chief executive Thomas Coesfeld said. “Through BMG Next, we have become a more focused, more profitable, digital-first business, one that is better able to invest in artists, songwriters, and music rights for the long term.”

Coesfeld added that the company’s revenue growth and investment in music rights had strengthened its position ahead of future opportunities.

“Sustained organic growth, record profitability, and our highest-ever first half investment in music rights give us a strong foundation for the opportunities ahead.”

Coesfeld is due to become chief executive of Bertelsmann at the beginning of 2027.

BMG’s first-half results come as the company prepares for the expected completion of its merger with Concord, which would combine the two music businesses’ recorded music and music publishing operations.