New Music Drops Every Minute. But Back-Catalogs Are Driving the Industry’s Transformation
There was a telling stat buried within the financial results of BMG, the recorded music and publishing company with a $670 million-plus annual turnover, last week. According to its German parent Bertelsmann, BMG’s total recorded music streaming revenue in the first half of 2020 was up by 26% year-on-year — an impressively larger percentage jump than that seen at bigger music companies Universal (+12.4%), Sony (+15.6%) or Warner (+9.1%) in the period.
