BMG Combines Current & Catalog Depts.
• BMG announced that it has become the first global music company to abandon the outdated industry distinction between new “frontline” and older catalog recordings. Reflecting the new reality of a streaming market in which older catalog recordings account for up to three quarters of revenue, BMG will fully integrate its new release and catalog recordings businesses. Effective immediately, BMG’s recorded catalog will now report locally as per its country of origin and then globally through EVP Global Repertoire Fred Casimir (pictured, below) for all sales outside the owning territory, exactly the same structure it uses for new so-called “frontline” recordings.
CEO Hartwig Masuch said, “Music fans demonstrate on a daily basis that they reject the music industry’s outdated privileging of new music over older music. Music is music regardless of its age. Great artists and great music have no expiration date, and we believe it is time for the music industry to reflect that.”
In a note to BMG staff, Masuch wrote, “BMG was the first music company to recognize that in a streaming environment, older music would be relatively more important than it had ever been in the past. This is borne out by market statistics which show that the new release frontline business is down to 30% or less of streaming consumption. It is why we have invested heavily in classic repertoire and why the majority of our frontline new releases are by proven and established artists. But until now we have always followed industry practice in having a separate global reporting line for catalog recordings as opposed to frontline. This now changes. With immediate effect recorded catalog now reports locally as per its country of origin and then globally through EVP Global Repertoire Fred Casimir for all sales outside the owning territory.”
This change means Casimir will now lead a team of around 90, responsible for marketing recordings around the world. Casimir commented, “There’s no great secret to BMG’s success. It’s about wrapping ourselves around artists’ needs and adjusting to the realities of the streaming world. Successful music catalogues deserve the same effort, commitment and passion as newer recordings. I’m delighted to take on responsibility for marketing BMG’s recorded catalogue.”
BMG’s recorded catalog includes prized recordings from artists including Black Sabbath, The Kinks, Motörhead, Rick Astley, Mötley Crüe, Kylie Minogue, Chris Rea and Nick Cave among many others. [Fred Casimir photo by Julia Schoierer]
