Global recorded-music revenue growth slowed down dramatically in 2022 but still was up 9% according to the year-end report from the International Federation of the Phonographic Industry’s released Tuesday. While 2021 saw an 18.5% growth, largely due to an increase in streaming numbers as the world waited at home for…
IFPI
Universal Music Group posted booming results for 2022, with revenues soaring 21.6% to nearly $10.95 billion, driven by streaming and a strong performance from its recorded music and publishing divisions. Recorded music’s revenues from streaming and subscriptions were up around 19% to over $5.6 billion, while digital revenues form publishing…
Thomas Coesfeld has been named the new CEO of BMG and will succeed longstanding CEO Hartwig Masuch effective Jan. 1, 2024, the company announced Monday. Masuch will remain a consultant to Bertelsmann, BMG’s parent company. The change in leadership is part of a long-term succession plan “which will be finalized…