BMG Holds Steady on Earnings as Revenue Dips in First Half of 2025

Focusing on its core digital music business helped BMG keep earnings steady on lower revenue in the first half of 2025, the company reported Thursday (Aug. 28). The Berlin-based company had revenue of 424 million euros ($463 million) in the first six months of the year, down 8% from the prior-year period. Organic revenue — income from existing operations — fell just 4%.

Operating EBITDA was flat at 122 million euros ($133 million). With the reduction in revenue, EBITDA margin improved to 29% from 26.5% in the first half of 2024. The margin improvement was the result of numerous factors, CEO Thomas Coesfeld told Billboard. “It’s distribution, it’s catalog acquisitions, and first and foremost, it’s about focusing the business, for the time being, on publishing and recordings.”

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