BERLIN and SANTA MONICA, Calif., Oct. 19, 2023 /PRNewswire/ -- 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 Grammar, 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.
BMG – est. 2008 – is the world's fourth-biggest music company, the first new global player in the music business of the streaming age, and a record label and music publisher in one. Named in 2020 one of the world's Most Innovative Companies by Fast Company, BMG's pitch is unique – a relentless focus on fairness and transparency and service to its artist and songwriter clients. BMG's 22 offices across 13 core music markets now represent over three million songs and recordings, including many of the most renowned and successful catalogs in popular music history. BMG is owned by international media, services and education company Bertelsmann, whose other content businesses include the entertainment company RTL Group and the trade book publisher Penguin Random House. With its multi-platform perspective, integrated technology platform and commitment to help artists maximize their income, BMG aims to be the best company in music to do business with. www.bmg.com
About Universal Music Group
At Universal Music Group, we exist to shape culture through the power of artistry. UMG is the world leader in music-based entertainment, with a broad array of businesses engaged in recorded music, music publishing, merchandising and audiovisual content. Featuring the most comprehensive catalogue of recordings and songs across every musical genre, UMG identifies and develops artists and produces and distributes the most critically acclaimed and commercially successful music in the world. Committed to artistry, innovation and entrepreneurship, UMG fosters the development of services, platforms and business models in order to broaden artistic and commercial opportunities for our artists and create new experiences for fans. For more information on Universal Music Group visit www.universalmusic.com