UMG Commercial Services will handle BMG’s vinyl and CD distribution starting in April 2024 as the companies explore “joining forces” in other areas.
BMG said on Thursday that it will use Universal Music Group’s commercial services division for the distribution of its physical recorded music, in what BMG CEOwith Warner Music Group’s ADA and would be taking over direct management of its 80-billion-stream digital distribution later this year. Digital revenues contributed 70% of BMG’s overall revenues in 2022.
“We are delighted to partner with UMG, the world leader in music-based entertainment on our thriving physical recorded music business,” said Coesfeld, who took over from longstanding chief executive July 1. “Our alliance with UMG is a significant step to further enhance our service to BMG-signed artists. Their scale, technology and commitment promises to further expand opportunities for BMG-signed artists around the world.
Business alliances between two of the world’s four largest music companies are less common, but BMG CEO Coesfeld has signaled an interest in exploring atypical solutions to scale the Berlin-based company’s business. “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,” UMG chairman/CEO
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