BMG Revenues up Nearly 5% in First Half of 2020
variety.comJem Aswad Senior Music EditorDespite the pandemic that has devastated global economies, revenues of BMG’s music division were up 4.8% year-over-year for the first half of 2020, reaching $308 million.The company’s operating income for the period was flat at $54 million, while the percentage of digital revenue was up 3%, from 56% to 59%.The company said it was its best first-half since it was founded in 2008, despite its 19 offices across the world being closed and its 926 staffers working remotely.“Thanks to dynamic growth in music streaming, further facilitated by [BMG’s] broad and highly digital setup, any lost revenues due to postponed releases or disruptions of physical distribution [during the pandemic] were more than compensated for,”.
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