BMG has formed an alliance with Universal Music Group (UMG), under which the companies will explore a range of collaborative initiatives.
The first project the two entities have come together on is moving the distribution of physical formats of BMG’s music—including vinyl and CDs—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.
According to a release, further collaborations between BMG and UMG are already under discussion.
Of the news, BMG CEO Thomas Coesfeld shares, “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.”
Chairman and CEO of UMG Sir Lucian Grainge, says, “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 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), with releases to come from artists including Jason Aldean, Jennifer Lopez, Chief Keef, Spiritbox and Mötley Crüe.
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