How a German media giant rebuilt its music empire from the ashes of 2008

History · Published 3 October 2026 Swipe more like this →

In short: After selling its stake in a major joint venture, Bertelsmann launched a new music company during the 2008 financial crisis. By merging publishing and label services under one roof, BMG evolved from a small portfolio of rights into a global powerhouse, recently culminating in a massive merger with Concord.

The roots of BMG trace back to the 1950s when Bertelsmann expanded its book club into the music industry. By the late 1980s, the company had formed the original Bertelsmann Music Group, covering genres from folk to classical. However, facing a digital-era market shift, Bertelsmann merged its interests with Sony in 2003. By 2008, the company concluded that traditional models were ill-suited for the digital age, leading to the sale of its stake in the Sony BMG joint venture and the launch of a new, leaner BMG.

Launched in October 2008, just weeks after the collapse of Lehman Brothers, the new BMG initially struggled to secure funding. This led to the investment firm KKR acquiring a 51% stake in 2009, which provided the capital for international expansion. BMG quickly grew through strategic acquisitions, including Cherry Lane Music Publishing in 2009 and Bug Music in 2011. By 2013, Bertelsmann bought back KKR’s stake, regaining full control and positioning music as a core strategic growth area.

BMG distinguishes itself by operating as both a music publisher and a record label on a single technology platform. This integrated approach allows it to manage rights for songwriters and artists simultaneously. In 2017, the company made its largest recorded music acquisition by purchasing BBR Music Group for over 100 million dollars, cementing its presence in the Nashville country music scene.

The company's evolution reached a new milestone in 2026 when it merged with Concord. This deal created the world's fourth-major music company, with Bertelsmann holding a 67% stake and Great Mountain Partners holding 33%. With headquarters moving to Nashville and operational hubs remaining in Berlin, the new entity continues to represent a significant shift in how music rights are developed, marketed, and delivered globally.

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