BMG has just reported its strongest ever financial results surpassing USD $1 billion in annual revenues for the first time in 2024 The Bertelsmann-owned music company generated EUR €963 million (USD $1.04bn) last year What stands out most in the numbers: BMG’s adjusted operating EBITDA hit an all-time high of EUR €265 million ($287m) up a substantial 37% YoY compared to the prior year’s €194 million That EBITDA surge helped the company achieve a record 27.5% margin in 2024 These results represent the second year under Thomas Coesfeld‘s tenure as BMG CEO a period that has seen significant structural changes as part of the company’s “BMG Next” strategy BMG also continued to sign and break frontline acts last year, with notable successes including Jelly Roll (who earned his first Billboard 200 No.1 with Beautifully Broken) and Kylie Minogue (who reached No.1 on the UK album chart for the tenth time with Tension II) BMG writers contributed to global hits like Eminem’s Houdini and 13 songs on Beyoncé’s Grammy Award-winning album Cowboy Carter in his first interview since the results were announced Coesfeld talks to MBW about BMG’s record-breaking year its music catalog investments amid a shifting market and what’s next for one of the world’s largest music companies… we invested a lot into catalog – 2024 was one of the years with the highest investments [so far from BMG] our in-sourcing of Spotify and Apple Music [distribution] is really paying off and we provide better services for our songwriters and artists “We monetize our repertoire much better and we provide better services for our songwriters and artists.” makes us faster and accelerates decision-making we had a very successful year in frontline Lainey Wilson; we actually had a number one album in the same week in the US with Jelly Roll and in the UK with Kylie Minogue We have very much focused on this milestone [in recent years] it’s a qualitative milestone because it clearly shows our ability to deliver globally It’s about our capability to deliver globally and to facilitate successes in publishing and recorded music our ability to have meaningful discussions with the DSPs – that’s important Obviously you need [to be] a certain size for that Nothing has really changed: We look for good music – that’s it and its potential across different channels and genres It’s important to remember BMG is not a financial investor; we are a fully integrated music company across publishing and recorded music We’re not flipping these assets… We believe in music it’s not an ‘asset class’ – it’s in our DNA.” and what’s important when I talk to artists and songwriters especially when we’re talking about acquiring their lifetime’s work We are the trusted home when an artist or songwriter wants to find a genuine partner it’s not an ‘asset class’ – it’s in our DNA We’re building a portfolio of amazing repertoire that has helped define decades of music we’ve been quite successful in doing so you see high streaming volume growth rates outside of so-called ‘Western’ markets; [faster percentage] growth is happening in South America we are looking at these high-growth markets But the US and Europe remain our ‘head and heart’ – our center If you look at subscription revenue growth But much of [the industry-wide figures] on the recording side in 2024 was an anomaly due to [bigger than usual] vinyl sales and physical sales in 2023 which led to a huge swing in physical [last year] “The age of double-digit growth in subscription streaming revenues is over but still – this is a highly attractive market.” we all know that we have entered a new growth phase in streaming The age of double-digit growth in subscription streaming revenues is over but still – it’s a highly attractive market We still have attractive growth fundamentals If you compare the price of music to the price of movies or streaming platforms What we’ve seen over the past one and a half years of price increases is no concerning churn figures among subscribers so it’s even more important to identify market segments that are growing Tied into that is obviously technology – understanding gen-AI and ensuring it’s embedded into our business processes Those are very music-specific use cases [for AI] that we will and we will keep advocating for copyrights and IP to be monetized and remunerated fairly and there’s a broader societal interest at stake; it’s important to have creativity rewarded especially in an age when artificial intelligence is generating creative work and we will continue to champion IP protection and the value of human creativity We had a good year in 2024 – a time when the music industry experienced significant changes it’s important that we’ve adapted to this new reality because greater profitability makes us more sustainable and creates opportunities to grow: to invest in our own people We’re excited about the future and all we hope to achieve with our artists songwriters and partners.Music Business Worldwide Stay on top of the real stories shaping the music industry: Join over 60,000 industry professionals who rely on MBW's FREE daily newsletter and alert emails for essential insights and breaking news Affirm spinoff Resolve raised $60m from investors including its parent company.. is one of the 100 leading corporate venturing professionals in our 2024 Powerlist Carsten Coesfeld took over as CEO of Bertelsmann Investments It is one of the world’s most active corporate investment groups Bertelsmann Investments has invested around €1.9bn in more than 500 startups and funds The company has 367 active holdings worldwide This includes 70 investments in AI-focused companies London-based healthcare company Phare Health and AI tool provider TensorArt The venture capital arm includes the funds Bertelsmann Asia Investments Bertelsmann India Investments and US-based Bertelsmann Digital Media Investments as well as selected funds and direct holdings in markets including Europe Coesfeld has set up the Bertelsmann Next growth unit which invests in new growth sectors such as digital health Bertelsmann Next recently bought Munich-based company Extedo which helps pharmaceutical companies comply with regulatory requirements with plans to turn the business into a key part of a growing pharma tech unit Coesfeld has built up a number of investments in the digital health segment the virtual healthcare service; QuantHealth an AI-based clinical trial simulator; Patient 21 which makes decision making software for doctors; and Paytient which offers US patients an alternative way to pay for healthcare costs It has also formed partnerships with VC investors General Catalyst and Pitango to invest in healthcare Coesfeld has had a more than 13-year career at Bertelsmann Since January 2024 he is member of the Bertelsmann executive board The Global Corporate Venturing Powerlist represents the 100individuals spearheading the future of the corporate venturing industry These individuals excel in terms of their venturing approach and structure number and quality of portfolio companies and in their contributions to the corporate venturing profession See the full 2024 Powerlist here. Which corporates are backing which startups Find details about global CVC units in the CVC Directory Comprehensive data on the current trends in corporate investment GCV provides the global corporate venturing community and their ecosystem partners with the information insights and access needed to drive impactful open innovation Across our three services - News & Analysis and the GCV Institute - we create a network-rich environment for global innovation and capital to meet and thrive At the heart of our community sits the GCV Leadership Society providing privileged access to all our services and resources Find tour dates and live music events for all your favorite bands and artists in your city DE (CelebrityAccess) – BMG parent company has announced the appointment of Thomas Coesfeld to its Executive Board who has been the CEO of BMG since July 2023 will now oversee Bertelsmann’s music division as a board member This move is part of the company’s strategy to enhance its presence and growth in the music industry Coesfeld’s journey with Bertelsmann has been marked by significant contributions to the company’s music division Since stepping into the role of BMG’s CEO on July 1 Coesfeld has been instrumental in realigning the music business under the “BMG Next strategy.” His efforts have focused on adapting to the rapid changes in the music rights landscape optimizing digital and physical music distribution and streamlining operations to reduce overhead costs Coesfeld served as the Chief Financial Officer (CFO) of BMG from April 2021 he played a crucial role in implementing the Bertelsmann Boost strategy for the music division contributing to its financial and strategic direction Coesfeld’s leadership has been characterized by a forward-thinking approach including embracing artificial intelligence in music operations and bringing digital distribution in-house achieving its “best quarter ever” in Q1 2024 as reported at the Second Annual Music Investor Conference in New York BMG’s annual revenues reached EUR 905 million ($979 million) in 2023 Although the operating EBITDA was stable at EUR 194 million ($210 million) the focus has been on sustaining growth and leveraging new opportunities in the music market Coesfeld has been committed to expanding BMG’s investment in the United States and has overseen significant restructuring efforts including a partnership with Republic Records to release Jelly Roll’s new album These initiatives are part of a broader strategy to position BMG for future growth and success in a competitive industry expressed his confidence in Coesfeld’s abilities: “I am pleased to welcome Thomas Coesfeld as a new member of the Bertelsmann Executive Board He knows Bertelsmann well from various positions he has made important decisions for the future of the business by bringing digital distribution in-house and using artificial intelligence in various areas of the music business Thomas will enrich the work of the Management Board as well I look forward to working even more closely with him.” Chairman of the Bertelsmann Supervisory Board highlighting his strategic skills and entrepreneurial instincts: “In his various management functions and now as CEO of BMG he has advanced and focused the business with strategic skill and excellent entrepreneurial instincts I am delighted that Thomas will now be contributing his experience and skills to the development of Bertelsmann as a member of the Executive Board he expresses his gratitude and commitment to furthering Bertelsmann’s growth: “I would like to thank the Supervisory Board for their trust in me In working with my fellow Executive Board members under the leadership of Thomas Rabe an obligation to further develop Bertelsmann and the BMG division with full commitment Coesfeld served on the Executive Board of the Bertelsmann Printing Group (now Bertelsmann Marketing Services) and as Chief Strategy Officer (CSO) of Mohn Media His career with Bertelsmann began in early 2016 when he participated in the Bertelsmann Entrepreneurs Program and worked with BMG and Relias in the U.S New Artist Signings detailed information on over 50,000 Entertainers as well as hundreds of thousands of records for venues Berlin-based Coesfeld was in the US himself this week to outline BMG’s market positioning on stage in front of the great and good of the M&A world in which he highlighted BMG’s Investment Strategy During the conversation with Israelite, Coesfeld explained that “an appreciation for the art of storytelling and advocating for creators’ rights has always been embedded into the DNA of both BMG and our parent company Bertelsmann” Coesfeld also told the Investor Conference audience that while BMG has “the financial power of a major,” the company’s “unique superpower and strength lies in our agility due to our size and the entrepreneurial spirit of our team” to not report on any of the conversations at the Annual Music Investor Conference But BMG’s CEO Thomas Coesfeld has given us personal permission to run the quotes featured in this article The BMG CEO’s appearance in New York this week follows what he said at the event was the company’s “best quarter ever in Q1 2024” He noted that BMG “plans to continue to build on this momentum.” BMG’s annual revenues hit EUR €905 million (USD $979m) in FY 2023 BMG’s operating EBITDA in 2023 stood at EUR €194 million ($210m) the prior year’s EBITDA result of €195 million Coesfeld sketched out the company’s new “BMG Next strategy” and explained that BMG has “primely positioned ourselves to be a future-forward music company uniquely poised to meet the evolving needs of artists and songwriters” Part of BMG’s Next strategy was implemented this week with a new US Frontline Recorded organizational structure which the company says “is designed to provide BMG artist partners with more tailored expertise and service” “BMG is committed to investing more in the US market and open to partnering with the right investors,” Coesfeld told the audience in New York We have the capital to purchase IP and the team and technology to maximize the value of those rights.” Digging deeper into BMG’s investment strategy during the fireside chat with David Israelite He added: “We strive to be the trusted home for songwriters and artists’ lifetime repertoire We are not in it for short-term maximization but for sustainable roster build-out and growth.” The conversation also turned to the current state of the music rights market and the role he believes BMG can play in it many entered the market believing music rights were a great asset but did not know how to actively manage these incredible songs,” said Coesfeld we can partner on an investment and help to actively manage these rights.” In November, just four months after taking on the CEO role at BMG, the company unveiled its “plan for growth” and noted that it would start making “substantial investments” in technology and its myBMG platform for songwriters and artists “We significantly increased our investment into technology to enhance our operating capabilities for the future,” Coesfeld explained in New York on Tuesday In March, citing an interview with Thomas Rabe, CEO of BMG parent Bertelsmann, The Financial Times reported that Bertelsmann was considering growing its music division through a merger with a rival or a “breakout investment” “BMG could potentially be an opportunity for a breakout investment and joining forces with a competitor,” Rabe said “If the opportunity arose to significantly grow BMG by joining forces with another music company we would consider it.”Music Business Worldwide Login For assistance please contact Our Customer Service on: Tel: +44(0)20 8955 7020. Email: musicweek@abacusemedia.com Please enter your email so we can send you password reset link An email has been sent to you containing a link to reset your password Thomas Coesfeld has been made a member of the Bertelsmann executive board.  The supervisory board of the international media, services and education company has appointed the CEO of the BMG music division to the group executive board with immediate effect.  Coesfeld will be responsible on the board for Bertelsmann’s music business, which he has headed as CEO since July 2023 prior to which he served as chief financial officer of BMG chairman of the Bertelsmann supervisory board said: “My sincere congratulations to Thomas Coesfeld on his appointment to the Bertelsmann executive board In his various management functions and now as CEO of BMG I am delighted that Thomas will now be contributing his experience and skills for the development of Bertelsmann as a whole as a member of the executive board Bertelsmann chairman & CEO Thomas Rabe said: “I am pleased to welcome Thomas Coesfeld as a new member of the Bertelsmann executive board for example by bringing digital distribution in-house and using artificial intelligence in various areas of the music business Thomas will enrich the work of the management board as well I look forward to working even more closely with him.” Thomas Coesfeld added: “I would like to thank the supervisory board for the trust they have placed in me In working with my fellow executive board members under the leadership of Thomas Rabe I see a great opportunity and at the same time an obligation to further develop Bertelsmann and the BMG division with full commitment I very much look forward to doing this.” For more stories like this, and to keep up to date with all our market leading news, features and analysis, sign up to receive our daily Morning Briefing newsletter You are using an outdated browser. Upgrade your browser today or install Google Chrome Frame to better experience this site Essential digital access to quality FT journalism on any device Complete digital access to quality FT journalism with expert analysis from industry leaders Complete digital access to quality analysis and expert insights complemented with our award-winning Weekend Print edition Terms & Conditions apply Discover all the plans currently available in your country See why over a million readers pay to read the Financial Times Coesfeld will be responsible on the Board for Bertelsmann’s music business, which he has headed as CEO since July 2023 prior to which he served as Chief Financial Officer (CFO) of BMG Coesfeld was appointed to the company’s Board at its meeting today (July 4) Thomas Coesfeld has served as CEO of BMG and sat on Bertelsmann’s Group Management Committee since July 1 He was appointed Chief Financial Officer (CFO) of BMG on April 1, 2021 and, according to today’s announcement, he has helped implement the Bertelsmann Boost strategy for the music division Coesfeld had already been a member of the music company’s management board since October 2020 Speaking at The Second Annual Music Investor Conference Hosted by NMPA boss David Israelite in New York last month BMG’s CEO said that the company saw its “best quarter ever in Q1 2024” He noted that BMG “plans to continue to build on this momentum.” BMG’s annual revenues hit EUR €905 million (USD $979m) in FY 2023 BMG’s operating EBITDA in 2023 stood at EUR €194 million ($210m) the prior year’s EBITDA result of €195 million Today, the Bertelsmann Executive Board includes: The Bertelsmann Supervisory Board extended Thomas Rabe’s contract as Chairman & CEO of the company for another five years (through 2026) He was first appointed as CEO on January 1 Rabe indicated that Bertelsmann wants to grow its music unit through a merger with a rival or a “breakout investment” “BMG could potentially be an opportunity for a breakout investment and joining forces with a competitor,” the exec was quoted by The Financial Times as saying “In his various management functions and now as CEO of BMG he has advanced and focused the business with strategic skill and excellent entrepreneurial instincts.” said: “My sincere congratulations to Thomas Coesfeld on his appointment to the Bertelsmann Executive Board “I am delighted that Thomas will now be contributing his experience and skills for the development of Bertelsmann as a whole as a member of the Executive Board “I am pleased to welcome Thomas Coesfeld as a new member of the Bertelsmann Executive Board He knows Bertelsmann well from various positions.” Bertelsmann Chairman & CEO Thomas Rabe addded: “I am pleased to welcome Thomas Coesfeld as a new member of the Bertelsmann Executive Board “Thomas will enrich the work of the Management Board as well “I would like to thank the Supervisory Board for the trust they have placed in me.” the newest member of the Bertelsmann Executive Board and CEO of BMG added: “I would like to thank the Supervisory Board for the trust they have placed in me “In working with my fellow Executive Board members under the leadership of Thomas Rabe Thomas Coesfeld was a member of the Executive Board of the Bertelsmann Printing Group (now Bertelsmann Marketing Services) and Chief Strategy Officer (CSO) of Mohn Media in Gütersloh He began his Bertelsmann career in early 2016 initially working for BMG and Relias in the US as a participant in the Bertelsmann Entrepreneurs Program (BEP) After studying business administration in Vallendar Coesfeld began his working career as a management consultant at McKinsey in 2014.Music Business Worldwide NEWS but the biggest one probably is that this change is primarily about the mindset—we need a growth mindset We need to test things quickly and adapt where necessary.” What have been your biggest learnings from COVID-19 The shift to an online-first world has hugely affected the publishing industry and DK In most markets more than 50 percent of books are now sold online I am convinced that this change is here to stay as even consumers that have not used the Internet to shop before now know how to do it and appreciate the convenience of it We ran a number of experiments during lockdown we increased our investment in the advertisement of our books on Amazon which helped grow our online sales massively We became better at integrating keywords into our copy and designing more beautiful product pages—this is something we want to build on We are also investing in our SEO and Amazon advertising expertise and are building a central team that will manage these activities which at times made us slow to tap into the opportunities that are available to us there are a number of things on which to improve When parents and caregivers were homeschooling during lockdown our workbooks were in high demand and we ran out of stock very quickly We need to rely less on retailer ordering patterns and base more of our forecasting on real-time consumer data The current situation was something hugely unprecedented and no forecasting tool could have predicted that but this is still something we want to build on We need to test things quickly and adapt where necessary the shift to an online-first world is a massive opportunity for DK to reach more readers with our beautiful books During the first week of lockdown in March we started global live streams and used a number of other formats to bring colleagues together COVID-19 has brought us closer; while we have all been working remotely we have explored new ways to connect we conducted a two-day virtual strategy offsite with twenty DK colleagues on Zoom I would have never imagined that we would have had such open and honest conversations virtually we reflected on our learnings from the lockdown and developed our future ambition—to make more people curious and work together to reinvent DK in this new environment and so I moved back to Germany to work remotely At that time I did not even have the keys to my new London apartment and I never dreamt that I could have built such strong relationships over these last six months while we all work from home has been affected differently and at different times means we are flexible in our approach and are able to give each territory the specific support it needs and so we were well prepared in this aspect of remote working but supporting individual technology needs wasn’t something we were ready for Our technology teams around the world had to ship more than 500 Macs and computers to colleagues’ homes; they really did a great job We successfully changed our ways of working and moved the creation of 100 new titles to online within the DK Cloud This transition allowed us to maintain productivity and collaboration across teams We have also successfully experimented with new technology—for example DK colleagues are now using Google Jamboard a digital whiteboard app that has allowed us to brainstorm and be creative since we can’t meet in person Do you have any advice for our global colleagues None of us has seen a crisis of this kind and scale it is so important to create a safe space for open and honest conversations The ability to freely discuss what is important for the company will generate the best outcomes and also empower everyone in the business to do their very best work One other observation we have made during these difficult times is that a crisis can help you to really focus on the things that make a difference and show you the opportunities in your business I am convinced that we have much more potential to reach more readers Below please find a letter submitted to Congress today (April 3 Simon & Schuster and Sourcebooks advocating… Penguin Random House partnered with Little Free Library (LFL) to celebrate a significant milestone: the installation of the 200,000th Little Free Library… The Jewish community is wonderfully diverse with individuals coming from various backgrounds and experiences Jewish people come from all over the world and reflect a beautiful… Inaugurated by the Academy of American Poets in 1996 National Poetry Month celebrates poetry and its place in American culture We’re thrilled to share that several Penguin Random House titles have been named finalists for the 37th Annual Publishing Triangle Awards — an event dedicated to… The UK’s Women’s Prize Trust announced the shortlist for the 2025 Women's Prize for Fiction a literary award championing and amplifying women's voices Columbia Journalism School and the Nieman Foundation for Journalism at Harvard announced the four winners and three finalists of the 2025 J Berkley joined the nonprofit VOW for Girls and the romance community to help end child marriage around the world It’s time to share your love for libraries an initiative of the American Library Association CEO Thomas Coesfeld has hailed BMG's “outstanding first half of the year” as the company unveils its H1 results As revealed in the new half-year report, BMG is celebrating double-digit organic revenue growth of 12.5% The rise was driven by BMG “successfully reorganising its operations focusing the business on the core music functions to better meet the evolving needs of artists and songwriters” and “the successful migration to direct digital distribution” BMG’s digital revenues grew by 20.3% percent year-on-year BMG has seen its revenues swell to €459 million up 11.1% compared to €414 million this time last year Its revenue is broken down as 62% publishing caused by strong growth in its digital income streams The share of digital business in total revenues increased to 69% (H1 2023: 63%) – broken down to 77% of recordings and 67% of publishing Operating EBITDA adjusted rose by 35.5% to €122 million (H1 2023: €90 million) Speaking about the results in a memo to staff Coesfeld said: “These numbers are particularly impressive in the context of a changing industry landscape over the last six months we recognised the complex challenges ahead and swiftly adapted especially as music consumption became more fragmented and new disruptors like generative Al emerged including rising costs for rights and licences and a lower pace of streaming revenue growth BMG artists Lainey Wilson (Best Country Album) and Kylie Minogue (Best Pop Dance Recording) were each honoured with a Grammy Award BERTELSMANN “BOOST STRATEGY” TAKE AFFECT bringing its total investments since 2021 to around €900 million.   The catalogues BMG represents generated y-o-y growth of +23% with some highlights being Bruce Dickinson Chayce Beckham and Daniela Alfinito.  These numbers are particularly impressive in the context of a changing industry landscape over the last six months Other success included: Cody Johnson’s The Painter (a No.1 single co-written by BMG songwriter Kat Higgins) and Frank Turner’s Undefeated (a No.1 album on the UK Independent Albums Chart) BMG’s re-signings for the period included KT Tunstall BMG used the report to draw attention to a host of its recent partnerships including one with the TUM School of Management’s GenAI Lab at Munich’s Technical University The successfully launched pilot program used “generative AI to optimize the creation and performance of multi-modal marketing assets yielding positive initial results to date.” BMG Production Music also signed a global synchronisation agreement to provide production music for Amazon MGM Studios Thomas Coesfeld is Chief Executive Officer of BMG Coesfeld was appointed as CEO of BMG on July 1, 2023. He succeded Hartwig Masuch in the role Coesfeld was previously Chief Financial Officer of BMG from April 2021 and before that was Deputy Chief Financial Officer of BMG from October 2020 Prior to joining BMG in 2020, Tomas Coesfeld was a member of the Executive Committee of the Bertelsmann Printing Group and Chief Strategy Officer (CSO) at Mohn Media in Gütersloh Thomas Coesfeld began his career in 2014 as a management consultant at McKinsey in Munich where he gained experience in sales and strategy with a focus on the insurance He joined Bertelsmann at the beginning of 2016 and initially spent a year working for various subsidiaries of the Group – including the growth platforms BMG and Relias in the U.S – as part of the Bertelsmann Entrepreneurs Program (BEP) Thomas Coesfeld was appointed CSO of Mohn Media joining the company’s management team he was additionally appointed to the Bertelsmann Printing Group’s management board in the same capacity According to the Financial Times Coesfeld and his brother Carsten are the seventh generation of the Bertelsmann dynasty They are the grandsons of the late Reinhard Mohn who transformed a provincial printing press that started out publishing Bibles into a global media publishing house is the chair of Bertelsmann’s Supervisory Board The Coesfeld brothers are Reinhard Mohn’s grandchildren from his first relationship In an op/ed published by Music Business Worldwide in 2022 Thomas Coesfeld said: “Improving service levels better aligning the interests of music companies with the artists and songwriters they serve is the single most important transformational opportunity offered by streaming “The first phase of that transformation focused on fairness and transparency a recognition that the historic relationship of music companies to musicians was unbalanced and often unfair and that simply translating the contractual terms of the analogue era to streaming was inappropriate and unsustainable “Much of the industry has now accepted in word if not always in deed that fairness and transparency are non-negotiable in the streaming age is the growing understanding that music companies are now essentially service businesses to musicians They are no longer the principals in the market They work for the artists and songwriters who actually make the music the less keen they are to accept that their historic role as the drivers of the business is over But that is the unavoidable logic of the technology.”Music Business Worldwide You’ve just taken charge at a billion-ish-dollars-a-year corporation Maybe some cozy get-to-know-you chats with your direct reports Thomas Coesfeld has not adopted such a softly-softly approach at BMG In his debut six months as CEO of the Bertelsmann company – a position he only took up on July 1 2023 – Coesfeld has issued multiple executive orders that have completely changed the global strategy of the firm these and other recent gear-shifts at BMG all come in preparation for what he calls “tectonic shifts” affecting the music rights business Some of these “tectonic shifts” are being driven by changes in the way young people listen to and create music they’re driven by a clear slowing in the revenue growth curve of music streaming in mature markets like the US and UK When MBW sits down with Coesfeld in BMG’s Berlin offices the German exec states that these changing growth patterns have been the “driving force” for many of his structural alterations of the company over the past six months “Everyone can look at these music streaming numbers and see declining growth rates A company like ours must recognize these facts We point to recent stats out of the UK which showed annual retail spend on streaming subscriptions up just under 10% YoY in 2023 – a year when the likes of Spotify raised their flagship prices by the same percentage (Conclusion: last year’s growth in the UK market primarily appeared to be achieved through price increases “Everyone can look at these streaming numbers and see declining growth rates,” says Coesfeld “Growth will look different in the next five years compared to the past five years; a lot of the key drivers of previous growth Adds Coesfeld: “I went over one of [MBW’s] daily news briefings the other day and there’s a clear emerging industry consensus that the market is changing I am very happy that we at BMG came to that conclusion very early on.” Interestingly, Coesfeld’s reaction to the “tectonic shifts” in music has seen him outright reverse several flagship initiatives of his predecessor in BMG’s CEO seat, Hartwig Masuch (Coesfeld acted as Deputy CFO and then CFO of the company for two years before taking the Chief Exec position in 2023.) In addition to the swift closure of BMG’s film/TV and live music initiatives – both launched by Masuch – Coesfeld has just announced the promotion of Thomas Scherer to run BMG’s global recorded music catalog division (Scherer continues to additionally run BMG’s US publishing operation) This too effectively undoes a Masuch initiative: the merging of BMG’s catalog and frontline marketing functions in recorded music, announced as recently as April 2023 And to cap it off, Coesfeld looks set to slash BMG’s ties to Roger Waters – a tentpole artist for the firm during the Masuch era – over the Pink Floyd star’s comments on Israel. “I always come back to: What works for the artists and the songwriter If something we’re doing is not adding any value to that into a big company – the fourth largest self-distributed company in music,” says Coesfeld “After 15 years under his leadership “But the reason I acted so quickly here is because I’m convinced that you need a certain amount of consolidation internally we ask Coesfeld about BMG’s film/TV unit – which this year boasts two Grammy-nominated productions in Moonage Daydream and Lewis Capaldi: How I’m Feeling Now “I looked at it and quickly figured that you need to be much larger than we are,” says Coesfeld “Only then do you really have a chance to win in that field.” Clearly BMG is in a different spot to the ‘big three’; there are things we can accomplish Coesfeld’s fair estimation of BMG’s size versus the music rights market’s giants also seems to sit a little in contrast to his more naturally oppositional predecessor, who once proclaimed BMG as “the fourth major” This perhaps helps inform how and why BMG was willing to jump into bed with Universal Music Group for a new physical distribution partnership in recent months Is Coesfeld ushering in a more collaborative attitude at the music company than we saw in its grow-fast-and-break-things era “Collaboration and having an open mindset is usually a good prerequisite for doing business with people that is the spirit with which I want to steer this corporation.” “I am firmly of the view that when dealing with corporations you are dealing with people,” he says “I absolutely welcome the discussion because streaming economics need to change,” says Coesfeld “Artist-centric is a good step forward in the right direction to fight technologies which are basically playing the system and taking away royalties from rightsholders and artists.” He adds: “I’m glad that Universal is taking a first step in that direction.” Despite Coesfeld’s realism about music’s slowing streaming revenue growth he remains bullish about the broader future for music rights he is a believer that ‘superfans’ will be willing to pay more for a closer and/or more specialized digital relationship with their favorite artists Coesfeld also believes there is substantial headroom for the major streaming services to increase their prices in future “If you just look at the impact of inflation on the value of money since Spotify launched in the US 13 years ago that alone would mean that the price should now stand somewhere else,” he says “Then if you compare what an hour of consumption costs consumers today between different media – music and others – it’s clear that music is still underpriced and we know there’s room to further increase streaming prices from the very low churn rates we’ve seen in the markets where prices at the likes of Spotify have already risen to date “There is a willingness to pay for music out there – and a willingness to pay more for it.” Coesfeld offers further cause for positivity when it comes to the music rights acquisitions market – a space in which BMG has been an active player going back a decade-and-a-half Following a period of “high uncertainty” caused by rising interest rates the past six months has seen a “healthy recovery” in terms of BMG’s deal flow “Whether the market peak was in 2021 or 2020 prices are definitely lower today than they were then – but they’re not dramatically lower.” Coesfeld believes that those who can be considered “fully-fledged music companies” are best positioned to take advantage of the current M&A market as opposed to institutional investors “who may want to flip a catalog in two or three years’ time” “My expectation is a lot will trade in this market in the months ahead.” Does Coesfeld expect more consolidation like this to play out – and will BMG be involved “We’re active catalog buyers in the market and as a large corporation with a long investment horizon we are very committed to music,” he says “As for more large-scale transactions That will depend on the investors’ risk appetite and their assessment of music’s growth potential My expectation is a lot will trade in this market in the months ahead.” A fair bit of ink in the financial press so far has been spilled on Coesfeld’s familial ties to BMG owner Bertelsmann. Coesfeld is the grandson of Reinhard Mohn the late German billionaire who transformed Bertelsmann into a multi-pronged media empire in the 20th Century Many see Coesfeld’s performance as BMG boss as a potential proving ground for him to one day take over the Bertelsmann empire Prior to joining BMG as Deputy CFO in 2020 Coesfeld was a member of the Executive Committee of the Bertelsmann Printing Group he managed a leading player in print media – an industry beset by challenges Coesfeld describes running particularly one magazine group amid an industry that was posting minus-7% CAGR What did he learn from managing decline in this way – a backdrop that greatly differs to music’s streaming boom over the past decade you learn never to take growth for granted,” says Coesfeld “People are right to say that the really big mistakes are always committed in growth phases But managing decline is way harder than managing growth The spirit is of things always being an uphill battle we tend to overestimate our impact on things when in reality – whether your industry is growing or not growing – there are so many factors working [for or against you].” He adds: “What you learn is to focus on the things you can control – and that means prioritizing the right strategies Another big difference between Coesfeld and most of his peers in music rights At just 34 years old, he was barely a teenager when the record industry was battling with Napster; when Spotify launched in Europe in 2008 Does that youthfulness give him a different perspective on the market than veterans of the music biz “I guess you can see it as a bit of a changing of the guard in terms of the music industry but if you define the music industry in its broadest sense Since BMG reformed as a new music company in 2008 its global headquarters have remained in Berlin Yet over 60% of BMG’s revenues in H1 2023 took place in North America with around a further 15% generated in the UK Following the news of BMG’s “doubling down” on investing in US repertoire – and its recent success with US country artists like Jelly Roll and Lainey Wilson – what does this tell us about the direction of travel for the company which seems to be more Anglo/American in its shape every year “It’s great for us to be headquartered here in Berlin,” says Coesfeld “There are definite advantages to spending time in the US and then detaching oneself from it the US is the center of innovation in music So naturally the way we market and craft music “People have started asking me: Will Berlin be the headquarters of BMG in a year The words of an executive who prides himself on asking why things have ‘always been done this way’ And who isn’t shy about changing them – tradition be damned.Music Business Worldwide Earlier today (January 30), BMG announced that its CEO for the past decade-and-a-half, Hartwig Masuch is to step down from that role at the end of 2023 Subsequent to breaking the news this morning MBW has obtained two memos from Masuch and Coesfeld respectively sent to BMG’s 1,100 staff members today In his memo, Masuch notes that, in years gone by, the compulsory retirement age at Bertelsmann was 60 years old (a policy that famously led to tensions between the firm and a 66-year-old Clive Davis in the late ’90s) That policy has long been scrapped at Bertelsmann Masuch says his decision to leave his role at BMG “should come as no surprise” and that “moving on before my 70th birthday was always my intention” Masuch reveals that he personally recommended Thomas Coesfeld – who joined BMG as CFO in 2021 – for the top job at BMG BMG’s current CEO comments that over the past two years his now-successor has “consistently revealed himself to be an astute “I look forward to BMG reaching new heights in the coming years,” adding that he is “determined we will grow even bigger and more successful under my leadership” (In H1 2022, according to Bertelsmann figures released last year, BMG generated revenues of EUR €371 million, up 25% year-on-year.) Coesfeld also pays tribute to the “astonishing job” done by Masuch as leader of BMG since the music firm was re-born in 2008 You can read both Masuch and Coesfeld’s memos to BMG staff We are writing to you all to give a little more detail about the announcement from Bertelsmann which has just gone out It marks the latest stage in a long-term succession plan which many of you may already have guessed While it will be some time til it takes full effect we wanted to let both you – and our clients – know as early as possible in order to make the transition as smooth as possible It’s not so long ago that the compulsory retirement age at Bertelsmann was 60 years old I’m currently looking ahead to my 69th birthday so it should come as no surprise that today I am announcing I will step down by the end of the year You should know that I am genuinely pleased that it is Thomas Coesfeld who will be taking over as my successor Having worked with him side-by-side for more than two years I am convinced that he is the right person to lead BMG into the future He has an instinctive understanding of the levers which drive our business services and processes we need to deliver for artists songwriters and rights holders and has consistently revealed himself to be an astute That is exactly why I recommended Thomas to be my successor Bertelsmann took a chance in naming a music publisher in his mid-fifties – i.e me – to lead its new 21st century BMG Not everyone thought I was the obvious choice I am confident that in selecting Thomas as my successor Bertelsmann’s instinct will again prove to be correct Naturally it will be strange when the day comes to leave BMG for the last time but moving on before my 70th birthday was always my intention There will be plenty of time for goodbyes later My first thought today is to acknowledge and pay tribute to the astonishing job done by my soon-to-be predecessor Hartwig I have pointed out before that none of the success enjoyed by the BMG of today was a foregone conclusion Back in 2008 there were plenty of music industry “experts” keen to share that the new BMG would be a flop Instead what we built – in great part thanks to Hartwig – was a thought leader redefining what a music company could be in the streaming age Major international music companies did not talk about fairness and transparency until BMG came along In 2023 we have grown to more than 1,100 people – and still hiring We have a profitable company with a catalogue and roster of many of the greatest names in music And I am determined we will grow even bigger and more successful under my leadership Bertelsmann’s history in music dates back to the formation of the Ariola label back in 1958 It is an indication of just how deeply-rooted music is in the Bertelsmann DNA and a key reason why Bertelsmann continues to support our growth so enthusiastically I have met many of you over the past two-and-a-half years and have been consistently impressed by the quality and commitment of our team BMG is ultimately a great partnership between you I look forward to BMG reaching new heights in the coming years BMG has agreed terms that will see its two live companies transferred back to their minority shareholders The news follows a recent announcement by BMG CEO Thomas Coesfeld that BMG will focus on its two core service areas of music publishing and recordings BMG acquired a majority stake in Braunschweig-based Undercover one of the most successful promoters in Germany BMG and Undercover subsequently formed a strategic alliance with Karo the company behind the successful Taubertal-Festival The new deals will see the two companies return to their previous ownership structure BMG Chief Content Officer Dominique Casimir said “Michael Schacke (Undercover) and Volker Hirsch (Karo) are seasoned entrepreneurs who have built enviable reputations in the live music business “We are pleased to have agreed terms which allow them to pursue an independent future and we wish them and their teams the best for the future.” “I have looked for and found the best solution for Undercover and our artists Undercover will remain strong and independent in the future “We wish BMG and its team all the best and every success in focusing on its core business.” “It has been a pleasure working with Michael Schacke and Dominique Casimir and we are pleased yet again to be pursuing an independent course as we near the 30th year of existence of Taubertal in 2026.” Thomas Coesfeld announced a “more efficient and more effective” new global strategy at BMG in October The CEO’s plan has already seen changes including the closure of BMG’s New York-based theatrical productions initiative; no more active commissioning of new films are now taking place at BMG BMG has consolidated its New York and Canada-based recorded music operations into its Los Angeles office And BMG has discontinued its centralized international marketing department for recordings which to date has been led by the company’s EVP Global Repertoire In November, Coesfeld communicated to BMG staff further details of a new structure designed to “futureproof the company for the coming years and further develop its ability to deliver for artists and songwriters on a global scale” “Fifteen years after the emergence of streaming music is going through another tectonic change It is vital we now reengineer our business to make the most of that opportunity “BMG has challenged the conventions of the music industry ever since we began bringing music publishing and recordings under one roof with a distinctive service-orientated and transparent approach Now new ways of creating and consuming music and looming changes in streaming economics are challenging us to do even better for our clients.” Just two months after taking charge of BMG as its worldwide CEO, Thomas Coesfeld’s first major move as the head of the music company is nearly upon us BMG is taking its digital/streaming distribution business in-house Coesfeld and Warner Music Group boss, Robert Kyncl are understood to have held talks over the possibility of BMG and WMG ‘re-upping’ their global deal earlier this year MBW is told that the duo ultimately agreed the best path forward for their respective companies would be without one another (A source close to Warner said of the exit of BMG from ADA’s client list: “It’s clear Robert sees this as a step that will help focus WMG’s resources and grow overall margins – just like Thomas wants for BMG Plus [BMG controlling its own digital distribution] was always part of the long-term plan MBW understands that BMG and ADA’s partnership for digital distribution will expire towards the end of this year Taking streaming distribution in-house promises to improve BMG’s margins in the most lucrative area of the recorded music industry while reducing the company’s reliance on any partnership with a ‘Big Three’ major music company But there’s an additional element to consider here: BMG and ADA’s contract for physical distribution JT Myers and Nat Pastor, founders of mtheory, were named co-CEOs of Virgin Music Group last year During its seven-year relationship with ADA to date BMG’s annual recorded music revenues have tripled Throughout this tenure, ADA has been responsible for distributing virtually all of BMG’s recorded music, which generated EUR €348 million ($366m) in revenue in 2022, according to the Bertelsmann firm’s internal announcements (see below) Update: A source within Warner Music Group tells MBW that while the company has distributed the vast majority of BMG releases in recent years WMG expects the impact to its annual revenues of BMG’s departure from ADA to be “significantly smaller” than the €348 million figure cited in BMG’s 2022 figures and represented approximately 40% of BMG’s total revenues in 2022 (BMG also runs a global music publishing company that posts nine-figure annual revenues.) Formerly CFO of BMG, Thomas Coesfeld took over the company’s top job on July 1. He succeeded Hartwig Masuch who had run BMG – as we know the company today – since it was founded 15 years ago Coesfeld is rolling out an updated strategy for BMG with a whirlwind round of presentations to senior executives in London Berlin and Los Angeles undertaken in recent weeks One attendee said: “The biggest takeaway was that the music business is getting tougher and Thomas is determined that BMG be ahead of the game.” BMG has been asked for comment on today’s story BMG’s annual turnover makes it one of the largest independently-owned distribution clients in music today BMG’s entire business – including recorded music and music publishing – generated EUR €414 million (USD $447m) in the six months to end of June this year. versus the EUR €371 million that the music company generated in the equivalent prior-year period BMG’s profit also grew significantly this year BMG’s operating EBITDA hit €90 million ($97m) He will be succeeded by Thomas Coesfeld who joined Berlin-headquartered BMG as CFO in April 2021 In what BMG called “part of a long-term succession plan” Coesfeld will officially succeed Masuch as CEO with effect from January 1 Masuch will remain associated with Bertelsmann in an advisory capacity Coesfeld will also take a seat on the Bertelsmann Group Management Committee (GMC) said: “Hartwig Masuch has shaped the music business at Bertelsmann and far beyond over three decades he has built the new BMG from scratch with a completely new business model that focuses on the needs of artists and songwriters “The new BMG works with many of the world’s most successful artists and songwriters I would like to take this opportunity to thank Hartwig for the services he has rendered to music and to Bertelsmann – and for preparing the transition to his successor which will be finalized at the end of the year.” Rabe added: “I am excited to see the next phase of BMG being rung in with the appointment of Thomas Coesfeld as CEO he has consistently advanced the company’s digital focus and implemented the Boost investment strategy at BMG together with Hartwig Masuch “He will ensure that the needs of artists songwriters and rights holders remain at the core BMG has substantial investment funds at its disposal as part of Bertelsmann’s Boost strategy I wish Thomas Coesfeld every success and look forward to working even more closely with him from next year.” Hartwig Masuch commented: “After 32 years at Bertelsmann and more than 14 years at BMG now is the right time for me to hand over the reins to a new generation I am convinced that the company will be in the best hands with Thomas Coesfeld and BMG’s outstanding the company is in excellent shape both creatively and financially I look forward to a seamless transition by the end of the year fairness and transparency will continue to evolve and flourish leading the company to even greater success.” Thomas Coesfeld said: “Under Hartwig Masuch’s leadership BMG has delivered an impressive growth story and developed into a modern music company in which data My aim is to continue this success story together with the company’s top management and its more than 1,000 employees worldwide and to leverage the enormous creative and entrepreneurial potential of the music industry for Bertelsmann Music has played a vital role at Bertelsmann since 1956 I look forward to leading this legacy into the future.” Hartwig Masuch has been CEO of Bertelsmann’s music division since BMG was newly founded in 2008 and has sat on Bertelsmann’s Group Management Committee since 2013 In 1991, he had left Warner Music Publishing to join what was then the music publisher BMG Music Publishing and thus Bertelsmann assuming responsibility for the company’s operations in Germany Masuch left the company in 2007 to serve Bertelsmann in an advisory capacity before setting up the new BMG in 2008 together with Thomas Rabe who was Bertelsmann’s Chief Financial Officer at the time Thomas Coesfeld was appointed Chief Financial Officer (CFO) of BMG on April 1 He has been a member of the BMG Executive Board since then Coesfeld was a member of the Executive Board of Bertelsmann Printing Group and Chief Strategy Officer (CSO) at Mohn Media in Gütersloh He started his Bertelsmann career at the beginning of 2016 initially spending a year working for subsidiaries of the Group as part of the Bertelsmann Entrepreneurs Program (BEP) Coesfeld began his professional career in 2014 as a management consultant at McKinsey after studying business administration in Vallendar Bertelsmann is yet to report BMG’s full-year revenues for 2022, but in the first half of last year, the music company turned over EUR €371 million, up 25% year-on-year The €371 million revenue haul represented a €75 million increase on the €296 million that BMG generated in the same six-month period of 2021 (see below) BMG’s operating EBITDA reached €73 million in the first half of the year Sixty percent of the company’s revenues in the H1 2022 period were from publishing with 40% from recordings.Music Business Worldwide Bertelsmann is bringing forward the long-planned leadership change at BMG Thomas Coesfeld will now become the music company’s new CEO with effect from July 1 He succeeds the founding CEO Hartwig Masuch is leaving BMG and Bertelsmann “at his own request and on the best of mutual terms” “due to his personal plans for the future Hartwig Masuch had requested an earlier departure” from the company but will remain associated with Bertelsmann in an advisory capacity until 2026 The CEO changeover was originally scheduled for January 1 Thomas Coesfeld will also become a member of Bertelsmann’s Group Management Committee (GMC) The committee advises the Group Executive Board As he prepares to take office as Chief Executive Officer (CEO) Thomas Coesfeld has announced further senior appointments for BMG The new Chief Financial Officer (CFO) – his successor in this office – will be Mathis Wolter will assume responsibility for the operating areas Rights & Royalties and Technology & Data as Chief Operating Officer (COO) and will continue to advance BMG’s global technology platform will remain responsible for Repertoire and Marketing for the world outside the U.S. as well as Global Synch and Corporate Responsibility remains the company’s Chief Human Resources Officer (CHRO) Dominique Casimir and Nikola Holle-Spiegel will join Thomas Coesfeld on the BMG Executive Board An additional new appointment to BMG’s top management team is Alberto Chullen Llamas who joins BMG from Bertelsmann Education Group as Executive Vice President Investments to drive forward the Boost strategy and support future catalog acquisitions “I’m leaving on a high note – and in the firm conviction that with Thomas Coesfeld and his management team a new generation will successfully lead the music company into a new era.” explained: “BMG has set sales records in recent months acquired iconic music rights catalogs and developed new lines of business and fairness are now an inseparable part of what has become the company’s DNA much respected by the entire music industry He added: “So I’m leaving on a high note – and in the firm conviction that with Thomas Coesfeld and his management team a new generation will successfully lead the music company into a new era “The phase of transition and handover between us has gone so smoothly that I have decided to step down a few months earlier than originally planned I look back with gratitude and pleasure on more than four decades in the music industry 32 years at Bertelsmann and 14 years at the helm of BMG “I would like to thank Hartwig Masuch for handing over a company which is both highly creative and successful Hartwig’s clear focus on building a company which works for artists and songwriters has resulted in a globally relevant music company which has redefined what a music company can be in the streaming age.” Thomas Coesfeld said: “We have a strong team at the helm of BMG bringing together a wide range of skills and experience Together we will drive the company’s progress and I very much look forward to working with them all Hartwig’s clear focus on building a company which works for artists and songwriters has resulted in a globally relevant music company which has redefined what a music company can be in the streaming age with the aid of Bertelsmann’s Boost strategy we have invested more than €500 million in acquiring music rights catalogs including those of such megastars as Tina Turner I am excited to build on this incredible foundation I very much look forward to working alongside Bertelsmann’s top management on the GMC and would like to thank Thomas Rabe for appointing me to this committee.”  “I would like to thank Hartwig Masuch and Thomas Coesfeld for the smooth handover at the helm of BMG Hartwig has written many chapters in BMG’s success story Bertelsmann CEO Thomas Rabe said: “I would like to thank Hartwig Masuch and Thomas Coesfeld for the smooth handover at the helm of BMG “Thomas Coesfeld takes the helm of a company whose revenues increased by more than 30 percent in the record-setting year 2022 and invested considerable funds in the acquisition of music rights “I am certain that BMG will continue to grow under Thomas Coesfeld’s leadership and I wish him and his new management team the best of luck in their efforts I also look forward to working with Thomas on the Bertelsmann Group Management Committee.” Commenting further on Masuch’s departure said: “A great music entrepreneur – and an extremely valued and respected colleague – is leaving the company Hartwig Masuch has built a new type of music company under the Bertelsmann umbrella one that centers on/prioritizes the interests of artists and songwriters “BMG now works with some of the world’s most prominent creatives Hartwig Masuch has continuously expanded BMG’s business “We at BMG and Bertelsmann are deeply grateful to Hartwig Masuch for his lifetime achievement as well as for the great creative and entrepreneurial impetus he has given to the work of the Bertelsmann Group Management Committee Hartwig Masuch has set the course for a smooth transition to his successor Thomas Coesfeld We are complying with his wish to bring forward the date of his retirement after three decades at Bertelsmann We are pleased that Hartwig Masuch will continue to advise our company until 2026 Personally and on behalf of the Executive Board I wish him all the very best for the future.” Now, Coesfeld is enacting another set of significant changes at BMG, which posted an operating EBITDA of €90 million ($97m) Berlin-based Coesfeld this week confirmed to staff that BMG is reorganizing its global structure in pursuit of his strategic goal for the company to become “more efficient and more effective” The biggest change under that plan will see BMG discontinue its centralized international marketing department for recordings which to date has been led by the company’s EVP Global Repertoire issued to staff on Thursday (October 26) and obtained by MBW Coesfeld said: “The international marketing team was set up five years ago in response to the needs of the company at the time “Our talented team have done a great job driving international campaigns for artists including Lenny Kravitz expectations from this novel structure were not met and it created duplication of functions with local teams.” expectations from this novel structure were not met and it created duplication of functions with local teams “The clear business decision is to instead give artists a single contact point with their local repertoire teams.” Coesfeld has green-lit four other significant alterations to BMG’s structure: (i) The discontinuation of BMG’s Modern Recordings label based in Berlin; (ii) The closure of the firm’s New York-based theatrical productions initiative; (iii) No more active commissioning of new films to take place at BMG; and (iv) The consolidation of BMG’s New York and Canada-based recorded music operations into its Los Angeles office these changes – including the international marketing function closure – will affect 3% of BMG’s global staff Fred Casimir will be leaving the company later this year as part of the move “These are tough but necessary decisions,” said Coesfeld in the Thursday internal note to BMG staff “I would like to extend my thanks to the team members involved on behalf of everyone at BMG We are in close contact with them and in Germany with our Workers Council to ensure everything is handled in a respectful way.” Elsewhere in the internal memo, BMG confirmed that it is “on target” to begin distributing its own recorded music to streaming services such as Spotify from Wednesday next week (November 1) In addition to becoming a “more efficient and more effective” business Coesfeld’s comments in the memo outlined three other core strategies that form part of his “four-point plan” for the company this year The other points in this plan include “better engaging with our clients and partners” “renewing BMG’s culture” the internal BMG memo said that the company recently introduced “a new deal-modelling tool and new deal-approval routines to create more rigor in the system” As a result of the closure of BMG’s international marketing function the company’s artists will no longer have two marketing contact points (domestic and international) Their sole contact point for marketing going forward will be the repertoire team to which they are signed “Much like our distribution alliance with Warner Music/ADA struck in 2016 our previous international set-up – established around the same time – was the right decision back then,” said Coesfeld in Thursday’s memo “It allowed us to grow and was the ideal structure for the time Our record-ings business is now three times the size it was then and it’s overwhelmingly streaming-based It is no surprise that the way we manage our business also has to change “While the logic of this move is clear we should not underestimate the impact on our colleagues Our best wishes are with them and BMG will do what we can as a company to help them at this time.” a BMG spokesperson said today (October 28): “Just as we have insourced our digital distribution because we had outgrown the old set-up so we are changing the way we do international to reflect the scale we have now achieved “A centralised international department made sense when our local repertoire teams were not as strong as we are now We’ve addressed that and a centralised function is no longer needed As the only global player outside the three majors international continues to lie at the heart of what we do “It’s far better to make changes like these from a position of strength when you’re performing well “Obviously these are tough decisions to make but there’s better ways to invest this money to improve our service to clients and you can expect further announcements on improvements to our service offering imminently “97% of the BMG team are unaffected by these changes.” Thomas Coesfeld has been appointed the new CEO of BMG. He will succeed Hartwig Masuch with effect from January 1 The change in leadership is part of a long-term succession plan Hartwig Masuch will remain associated with Bertelsmann in an advisory capacity.  who has served as CFO of BMG since April 2021 will also take a seat on the Bertelsmann Group Management Committee (GMC) Thomas Rabe, chairman & CEO of Bertelsmann said: “Hartwig Masuch has shaped the music business at Bertelsmann and far beyond over three decades The new BMG works with many of the world’s most successful artists and songwriters and to Bertelsmann – and for preparing the transition to his successor which will be finalized at the end of the year.” Rabe added: “I am excited to see the next phase of BMG being rung in with the appointment of Thomas Coesfeld as CEO he has consistently advanced the company’s digital focus and implemented the Boost investment strategy at BMG together with Hartwig Masuch BMG has substantial investment funds at its disposal as part of Bertelsmann’s Boost strategy I wish Thomas Coesfeld every success and look forward to working even more closely with him from next year.” Hartwig Masuch said: “After 32 years at Bertelsmann and more than 14 years at BMG I am convinced that the company will be in the best hands with Thomas Coesfeld and BMG’s outstanding I am sure that under Thomas’ leadership leading the company to even greater success.” Thomas Coesfeld said: “Under Hartwig Masuch’s leadership My aim is to continue this success story together with the company’s top management and its more than 1,000 employees worldwide I look forward to leading this legacy into the future.” Hartwig Masuch has been CEO of Bertelsmann’s music division since BMG was newly founded in 2008 and has sat on Bertelsmann’s Group Management Committee since 2013 BMG grew to number four in the global music business Masuch left Warner Music Publishing to join what was then the music publisher BMG Music Publishing Masuch left the company in 2007 to serve parent company Bertelsmann in an advisory capacity before setting up the new BMG in 2008 together with Thomas Rabe who was Bertelsmann’s chief financial officer at the time. Thomas Coesfeld became CFO of BMG on April 1 Coesfeld was a member of the Executive Board of Bertelsmann Printing Group and chief strategy officer (CSO) at Mohn Media in Gütersloh initially spending a year working for subsidiaries including BMG and Relias in the US BMG has reported revenues of €905m in 2023 Following the results from parent company Bertelsmann, BMG CEO Thomas Coesfeld described the “solid performance” of the music company. In 2022, BMG’s revenue growth topped 30% In his overview memo to staff, which Music Week has obtained, Coesfeld noted that the results followed a period of transition and changes already implemented since he took over last summer.  BMG’s profit measure EBITDA was close to last year’s record high Coesfeld said that revenues and EBITDA have increased by more than a third in just two years “The fact that we did it while implementing the most fundamental shift in strategy and structure in the company’s history focusing in on our two core businesses of music publishing and recordings is all the more remarkable,” wrote Coesfeld “We did so while remaining true to our mission to deliver the best possible service to our artist and songwriter clients delivering the best today means providing additional services such as improved data insights into marketing campaigns better revenue assurance on the publishing and recorded side of things and clearer accountability for every team member.”  BMG made 30 catalogue acquisitions, including The Hollies Alain Chamfort and Paul Simon’s music interests in Simon & Garfunkel’s recordings In recordings, highlights included new releases by Kylie Minogue Jason Aldean’s Try That In A Small Town became BMG's first US Hot 100 No.1 last year.  the company’s successes included I’m Good (Blue) 2 co-written by BMG songwriter Mura Masa for Pink Pantheress and Ice Spice Hackney Diamonds by the Rolling Stones and Broken By Desire To Be Heavenly Sent by Lewis Capaldi were major releases in 2023 with BMG publishing interests we have already done much to address those changes Coesfeld added: “I am very optimistic as I see more and more elements of our new BMG Next strategy come to fruition. Many departments across the company have already implemented our new way of working and I can confirm that our new structure will be fully operational as of next month It is a structure designed to be more focused more specialised and to offer exactly the kind of improved services listed above we have already done much to address those changes.” BMG has shifted to focus on the core music publishing and recordings businesses, increased investment in technology and made distribution changes (direct with Spotify and Apple Music, plus partnering with Universal for physical) The company has given local repertoire leads a bigger role alongside dedicated global marketing sales and catalogue functions in a new structure “We have confirmed plans for substantial investment in music rights backed by an upgraded and rigorous investment model,” added Coesfeld Coesfeld said that there has been a “strong double-digit increase in revenue and an increase in EBITDA versus prior year” “We have made the changes we needed to “And we are set for renewed success in 2024 – for our clients Bryce Coesfeld was chosen as a scholar-athlete at Kittatinny Regional High School Scholar-athletes at local high schools are asked to write an essay about a teacher or coach who inspired them “Even though my pronunciation may at times be questionable flipping through my notebook I see the incredible amount of German I have learned My favorite lessons were about German traditions; Frau sharing her love for German culture all of her lessons were just a cover-up for the true lessons how to be a hard worker and how to be responsible Years from now I may not remember the vocab but I am sure that her life lessons will stick with me forever.” His essay won Peemoller the title of Teacher of Excellence You are viewing your 1 free article this month Carsten Coesfeld is to depart to take up a new position as c.e.o with managing director for publishing Rebecca Smart and c.f.o and strategy director Paul Kelly stepping up to co-lead DK worldwide as joint c.e.o.s Smart and Kelly will report to Penguin Random House c.e.o Announcing the development in a letter to staff Dohle paid tribute to the "rare partnership" between Kelly and Smart "one imbued with openness and mutual respect" and said the two had complementary skills and experience He said: "As the leading global illustrated non-fiction publisher DK is experiencing an incredibly exciting time In recent years the team has transformed the company into a successful growing and innovative business: launching new enterprises achieving significant success in both lifestyle and children’s publishing rebranding and refreshing its iconic reference list and creating an industry-leading online merchandising infrastructure I am confident Rebecca and Paul will together continue the growth trajectory the DK team has generated in recent years." Smart and Kelly will now join the Penguin Random House global executive committee Dohle said: "I am sure that few could have managed stepping into a c.e.o role during these tumultuous times with the level of energy in 2021 DK experienced the best year in its 48-year history expanding the discovering of its books online while continuing to support all retail channels for books and implementing strategic partnerships with our Penguin Random House sister companies Carsten and his team have generated significant organic growth and positioned DK to thrive in an online-driven book world collaborative style and clear focus on strategy implementation and excellence in execution have been pivotal to achieving these results." Coesfeld takes up his new role on 1st June Bertelsmann Investments is the company’s global venture capital arm and has to date invested around €1.5bn in over 400 companies and funds Bertelsmann is bringing forward the planned change in leadership at BMG.  Thomas Coesfeld will now become the music company’s new CEO with effect from July 1 2023 - six months ahead of the original schedule He succeeds the founding CEO Hartwig Masuch who is leaving BMG and Bertelsmann at his own request Thomas Coesfeld will also become a member of Bertelsmann’s Group Management Committee (GMC) Bertelsmann CEO Thomas Rabe said: “I would like to thank Hartwig Masuch and Thomas Coesfeld for the smooth handover at the helm of BMG. Hartwig has written many chapters in BMG’s success story, which Thomas will now continue. Thomas Coesfeld takes the helm of a company whose revenues increased by more than 30% in the record-setting year 2022 and invested considerable funds in the acquisition of music rights.  “I am certain that BMG will continue to grow under Thomas Coesfeld’s leadership I also look forward to working with Thomas on the Bertelsmann Group Management Committee.” Coesfeld has announced further senior appointments for BMG.  The new chief financial officer – his successor in this office – will be Mathis Wolter Sebastian Hentzschel will assume responsibility for the operating areas rights & royalties and technology & data as chief operating officer.  Dominique Casimir, who has been with BMG since 2008 will remain responsible for repertoire and marketing for the world outside the US as well as global sync and corporate responsibility remains the company’s chief human resources officer Thomas Coesfeld said: “We have a strong team at the helm of BMG Together we will drive the company’s progress I would like to thank Hartwig Masuch for handing over a company which is both highly creative and successful Hartwig’s clear focus on building a company which works for artists and songwriters has resulted in a globally relevant music company which has redefined what a music company can be in the streaming age.  “Together, with the aid of Bertelsmann’s Boost strategy, we have invested more than €500 million in acquiring music rights catalogues including those of such megastars as Tina Turner, Mötley Crüe I very much look forward to working alongside Bertelsmann’s top management on the GMC and would like to thank Thomas Rabe for appointing me to this committee.” Former ACCEPT bassist Peter Baltes is playing bass for U.D.O. the band fronted by original ACCEPT singer Udo Dirkschneider Baltes is filling in for U.D.O.'s regular bassist Tilen Hudrap who was hospitalized after the band's show in Munich Fan-filmed video of the September 23 concert at Fabrik in Coesfeld Germany and the September 21 show at Amager Bio in Copenhagen released the following statement via social media: "Dear Fans our Bass Player & invaluable member of the U.D.O had to be rushed to Hospital after nearly collapsing on stage Tilen is a guy who would walk barefoot over burning coals to play a show He is in excellent hands at a great hospital in Munich where doctors are continuing to run tests on him to ascertain the quickest way to bring him back to full health will continue the Tour without Tilen until he has fully recovered The next two shows in Pratteln and Stuttgart will be performed without a Bass Player then Peter Baltes will join us as temporary replacement from Berlin onwards "Of course we will all be devastated to not have Tilen on stage with us Tilen added in a separate statement: "This is the hardest thing I ever wrote publicly "As a public person I feel compelled to write what I will write especially because I owe it to the fans: the fans of the band my own fans'n'supporters from all the years of touring and to everyone involved in this touring commitment going on at the moment "In twenty years I never cancelled one single show and in all my professional years I never cancelled a tour or a concert "At the beginning of the world tour this was the last thing I wanted to do (to cancel ANYTHING let alone a 3 month tour) so despite my burnout condition that I never talked publicly about and against the advice of my doctors and my family I went on tour to not let down my brothers in the band and the hardworking crew and management/booking agency I always prided myself in being a road warrior and went through way crazier situations in my career so I thought this would not be a big deal (to do a nice 3 month tour) My body gave in during the last two songs yesterday.Respiratory alkalosis momentary collapse of body functions and complete burnout The doctors in the emergency room in München said I should never went on stage for the last week writing this and thinking about everyone involved.Sorry to everyone and all the fans but I need to take some time to get back to 100% "Please know I would never not go play if it wasn't serious as it is Most of this was caused by unreal amounts of no sleep plus decades of work that took me to where I am the new album is in the works and someone nice will come to replace me indefinitely until I get back in shape for which you always known me for You know I always gave 200% and always will "I will make a few updates in the following days to keep everyone in the loop I wanna assure everyone that I will be fine and come back stronger than ever but not least and most important: indescribable gratitude to my band brothers and crew for their support in the most dire situation yesterday and in general Two years ago, Baltes and former ACCEPT drummer Stefan Kaufmann were part of the songwriting team for U.D.O.'s album called "We Are One", a collaboration with Das Musikkorps der Bundeswehr, the military band of the German federal armed forces. Speaking to Canada's The Metal Voice about how Baltes came to be involved with the project [Getting] Stefan Kaufmann [involved] was planned from the beginning on He was helping us out on the last concerts And he was sitting also with us together when we were talking about that we maybe wanna do an album I never had any problems with Stefan Kaufmann you have to do some demo vocals in the studio.' Then I said I'll come then.' Then I came into the studio Peter was there; he was doing some stuff with Stefan about his projects Nobody can come up with some ideas.' I mean the most important thing was that we have really it doesn't matter who was writing the songs or whatever And [Peter] was really happy to do something like this Asked how it was to reconnect with Peter and if there is any chance of Baltes joining U.D.O. Udo said: "It was a lot of fun to talk to him It was like we saw each other just yesterday [meeting up for the first time] after 15 years to be the bass player in U.D.O.?" he continued "He's doing so many projects; he's really busy 'It would be great to have you now as the bass player in U.D.O.' [We'll] leave it like it is If he does some stuff and maybe asks me to sing a song on his album — I think I heard he's doing a solo album — no problem as we formed a very strong five-piece band So that would be a bit strange to now just say because he's Peter.' You would rip apart something we built up we were looking for the right people for some time now And everybody's doing an amazing job — everybody's so good on their instruments — and we just found a good band Denmark 🇩🇰 Come and join us on our GAME OVER Europe Tour 🤘🏻 Posted by U.D.O. on Thursday, September 22, 2022 Germany-headquartered BMG is the latest music company to announce a partnership aimed at developing AI-driven technology The company announced on Tuesday (January 30) that it has struck a partnership with the School of Management at the prestigious Technical University of Munich (TUM) meant to “fast-track” deployment of AI tech throughout the company The first joint project between BMG and the school will focus on music marketing campaigns specifically ways to harness AI to manage the various digital assets required for a global marketing campaign Some campaigns require juggling as many as 700 separate digital assets The project will be led by TUM School of Management’s Professor Dr. Jochen Hartmann, who founded the school’s GenAI Lab (and attracted significant attention in the summer of 2023 with a report that found OpenAI’s popular ChatGPT chatbot has a distinct left-leaning political bias) “The core objective of this first phase of our work will be to demonstrate how generative AI can improve the creative efficiency and effectiveness of multi-modal marketing content,” Dr BMG will sponsor a two-year PhD position at TUM’s Professorship of Digital Marketing “GenAI’s impact on the music industry will be transformational, where human artistry is at the heart of it,” BMG CEO Thomas Coesfeld said in a statement “We are delighted to be partnering with a thought leader in the field of digital marketing Together we believe we will continue to move the dial on the deployment of AI technologies in the music business to reach wider fan audiences more effectively.” “GenAI’s impact on the music industry will be transformational where human artistry is at the heart of it.” Johannes von Schwarzkopf, who was recently appointed Senior Vice President said the integration of AI into music marketing “is about more than efficiency; it’s about reimagining the creative process AI offers us an unprecedented opportunity to change the way we market and experience music globally.” “The corporate partnership with BMG reflects our commitment to fostering a dynamic exchange between the corporate world and our academic community,” said Professor Dr “By collaborating with renowned institutions and industry leaders such as BMG we remain at the forefront of innovation.” This isn’t BMG’s first venture into the AI space. In 2021, the company released an AI-completed version of Beethoven’s unfinished 10th Symphony and AI tech is already integrated into BMG’s sync and royalty functions According to cloud technology solutions company Rackspace, BMG is now able to process royalties 10 times faster than it could previously, and track music 50% faster, thanks to its use of data-tracking solutions implemented by Rackspace that uses Google’s Cloud’s advanced AI we’ve seen a huge increase in data harmonization And now we can categorize music much faster which helps us make better decisions on classification,” Maxime Rousson BMG’s new cloud-based platform will also support new data tools for its in-house music distribution “The world’s fourth-largest music company will use it to offer clients increased transparency and access to more detailed data,” Rackspace said BMG’s announcement comes as major recording companies work to integrate AI technology both in back-of-the-office administrative work and in the creation of music including within BandLab’s global community” In the spring of 2023, the company entered into “a first-of-its-kind strategic relationship” with generative AI sound wellness startup Endel to create what it calls “AI-powered UMG also formed an alliance with YouTube to jointly develop AI tools that offer “safe responsible and profitable” opportunities to music rightsholders which enables creators to use AI to clone the vocals of well-known stars a UK-based health startup engaged in music as a therapy tool MediMusic uses AI and machine learning to create evidence-based playlists tailored to individual patient needs COESFELD, Germany (AP) — Big white trailers with pictures of juicy roasts and the wholesome slogan "Straight from the farmer" sit idle on the edge of Coesfeld, their usual pork hauls disrupted by an outbreak of coronavirus at one of Germany's biggest meat processing companies that has put the industry in the spotlight At least 260 workers at Westfleisch's slaughterhouse in northwestern Germany have tested positive for COVID-19 in recent days causing alarm at a time when the country is trying to slowly relax the restrictions that were imposed to curb the pandemic As authorities scrambled to contain the growing outbreak over the weekend it emerged that many of those infected were Eastern European migrants working for subcontractors who also provide them with accommodation and shuttle buses to work a trained carpenter from Bacau in Romania's poor northeast who previously worked for a German courier company but recently got a job at Westfleisch that promised several times what he would make back home who declined to give his last name fearing repercussions said he was still having to pay his employer rent for the room he shares with a colleague but doesn't know if his employer will pay him for the time he isn't working Poor housing conditions have been identified as a possible reason for coronavirus outbreaks at U.S Standing behind a metal fence erected to stop workers from leaving their shared house about 15 minutes' drive from Coesfeld Iulian and others inside were waiting Tuesday for the results of the COVID-19 tests they had taken four days earlier Authorities had stopped the men from going to a nearby supermarket but subsequently groceries had been delivered Westfleisch declined a request for an interview the company said it was "deeply affected" by what had happened in recent days "We are fully aware of our responsibility," Westfleisch said adding it now requires workers at facilities that remain open to wear face masks on site have their temperature taken at the gate and work in clearly separated small groups The company said it is also trying to impress upon workers "the importance of hygiene and behavior measures in the company and in private settings." The outbreak has caused consternation in Berlin where German Chancellor Angela Merkel told lawmakers Wednesday that the government plans to make "necessary changes" to rules for the meat industry citing "alarming news" about the situation at Westfleisch "There are significant shortcomings in accommodation – we have all seen that now – and it has to be seen who is held responsible," Merkel said "I can tell you in any case that I am not satisfied with what we have seen there." The outbreak began shortly before Germany's federal and state governments agreed to trigger an "emergency brake" on relaxing restrictions when the number of new infections passed 50 per 100,000 inhabitants in a week — a threshold that Coesfeld has far surpassed have ordered all 20,000 workers in the meat industry tested for the new coronavirus and delayed the reopening of bars and restaurants in the region by another week Some enraged restaurant owners have threatened to sue for lost earnings though it is unclear who they would take to court: Westfleisch the workers or regional officials now being accused of acting too slowly which represents workers in the food industry says the outbreak could be the right moment to clamp down on outsourcing in the meat industry "The corona crisis simply reveals the situation that exists in this area," he said "We often talk about animal welfare in the industry,"but what happens to the people who work there is at least as important." While the outbreak in Coesfeld has drawn the most attention there have been smaller clusters of cases at slaughterhouses across the country in recent days And though there's been no death yet among abattoir workers a 57-year-old farm worker from Romania died of COVID-19 in Germany last month Klenk blamed a lack of public interest in the issue and price pressure from large supermarket chains for promoting cut-throat competition in the slaughterhouse business At a market stall in Coesfeld's town square a pork cutlet from a pig butchered by hand costs 15.50 euros per kilogram ($7.63 a pound) the same cut from an industrial slaughterhouse costs 3.29 euros per kilogram ($2.32 a pound) Carrying a bundle of letters across the square to the post office resident Brigitte Sieverding said she understood the disappointment businesses must feel about not being able to open yet "I hope next week we can have a bit more freedom," she said Asked about the outbreak in the slaughterhouse Sieverding said she hadn't been aware of the conditions for migrant workers until recently said the outbreak has prompted sympathy for the migrants among many Germans who had previously taken little notice of the problem "Everybody wants these miserable conditions to finally end," she said "On the other hand the people are really mad at Westfleisch and at the county official for not closing (the factory) sooner." Spallek voiced fears that a number of workers might develop serious illnesses in the coming days "I'm convinced that we've yet to see the consequences including in the hospitals," she said German professional dressage rider Kirsten Heek has sold her fabulous farm to Alexander Brenninkmeijer who with his life partner Borja Carrascosa have made the step to total independence to build a future and business of their own Roy Blue Stables was built by Heek's parents Franz- Josef and Elke in Coesfeld  The property is a state-of-the art equestrian facility with all possible amenities and Kirsten ran her dressage and breeding business there the property was listed for sale for 4.7 million euro with the real estate agents a distant heir of the famous Dutch-German Brenninkmeijer family of Cofra Holding and Spanish WEG team rider Borja Carrascosa made an offer on the yard in November 2019 and it has been accepted Borja and Laponia at the 2020 CDI Le MansRoy Blue Stables will now be their step to total independence and to build and develop their business and future The couple met each other while working at Hof Kasselmann in Hagen  In 2015 they decided to start their own business at Gut Auric in Krefeld Between then and now Carrascosa proved his worth as a young horse trainer and Grand Prix rider He was Spain's team reserve for the 2016 Rio Olympics on Wonder and competed at the 2019 European Dressage Championships in Rotterdam with Ein Traum The chestnut Grand Prix horse Laponia (by Stallone Quainton x Ehrenwort) will be Borja's Tokyo Olympic hopeful for 2021 Kirsten Heek was a successful international young rider in the early 1990s on Roy Blue which her parents bought through Bernhard Ix at Egbert Kraak's in The Netherlands She won team gold and individual bronze at the 1993 European Young Riders Championships and was trained by Katrin Bettenworth Heek's next horse was Allegro Assai with whom she competed at national grand Prix level while training with Johann Hinnemann In 2005 construction of Roy Blue Stables completed and Heek had her base there ever since  With the Danish warmblood Maxim (by Mago xx x Alibi) where she rode Morning Star (by Meilenstiefel x Lungau) and Palermo (by Gribaldi x Ferro) Heek only competed nationally since then with her focus shifting also to training students She is the coach of Thailand's two most successful riders Pakira Thongpakdi and Arinadtha Chavatanont who are multiple team and individual medalists at the SEA Games Asian Games and 2019 FEI Asian Championships Kirsten Heek and Seerose in the Louisdor Cup qualifier at the 2016 CDI HagenBecause she wanted to downsize and focus more on training, Roy Blue Stables was sold and Heek is now renting Gestut Weidenhof from the parents of the late Holger Munstermann "I want to keep on going with my work but want to have less horses of my own I had already stopped breeding (at Roy Blue Stables) even though that was one of the most amazing parts," Heek told Eurodressage "I will now have much more time to train my students teach more lesson and clinics and do some online training in the future." In 2019 Heek competed 13-year old Wilco Blue (by Wellcome x Ritterorden) 12-year old Bella Blue (by Briar x Rohdiamant) 9-year old Danny Linn Hope (by Diamond Hit x Fidermark) and 8-year old Definitely (by De Koonig x San Schufro II) at M and S* level "At Gestut Weidenhof there is eveything you need for good training," Kirsten explained "And hopefully next year I`m able to compete in Grand prix again with one of my home bred horses." Stalls for Rent at Durondeau Dressage in Peer, Belgium Exceptionally Well Located Equestrian Facility in Wellington, Florida Well-built Equestrian Estate With Multiple Business Opportunities in Sweden Stable Units for Rent at Lotje Schoots' Equestrian Center in Houten (NED) For Rent: Several Apartments and Stable Wing at High-End Equestrian Facility Stable Wing Available at Reiterhof Wensing on Dutch/German border Real Estate: Well-Appointed Country House with Extensive Equestrian Facility in the U.K. Rémi Blot BMG has outlined a new structure designed to further develop its ability to deliver for artists and songwriters on a global scale It is understood that a small number of positions are affected across each of BMG’s offices The company will focus on its key areas of music publishing and recordings having cut back on areas including film commissioning and theatrical productions Doubling down on its presence in the US with a new global catalogue function based in Los Angeles Recalibrating its presence in Continental Europe and renewing its frontline recorded business in a new ‘hub-and-spoke’ structure Further strengthening its services to artists with substantial investments in technology and its myBMG ecosystem.  BMG will also be clarifying roles and structures to make the company more accountable to its artist and songwriter clients CEO Thomas Coesfeld said: “Fifteen years after the emergence of streaming It is vital we now re-engineer our business to make the most of that opportunity BMG has challenged the conventions of the music industry ever since we began Now new ways of creating and consuming music and looming changes in streaming economics are challenging us to do even better for our clients.” The changes form part of a strategy which has already seen BMG take control of its distribution, forming direct relationships with Spotify and Apple Music The company is discontinuing its Berlin-based international marketing function in order to simplify its relationships with artists and empower local A&R and campaign management teams Last month BMG formed a global alliance with Universal Music Group Standing still is not an option if we want to deliver for our artist and songwriter clients the new structure for BMG’s recordings business will make a clear distinction between local expertise in artist relationships and global functions which serve them sales and marketing will now become global functions which BMG already organises on a global basis Local campaign management will work with a new global marketing team responsible for analytics content creation and media planning and buying “We are changing the way we do things,” said Coesfeld “We will combine creative intuition with data-driven insights to deliver the best service for our clients and customers The new strategy strengthens our role as the UK gateway to BMG’s global services and our new global digital sales and marketing teams will increase our effectiveness in helping UK artists achieve international impact.”  “This is a strategy for future growth,” added Coesfeld “But in a business in which change is a constant we ourselves need to change to grow further Standing still is not an option if we want to deliver for our artist and songwriter clients.” BMG Continental Europe’s new structure will involve focusing on functional centres of excellence within Europe aggregating budgets and expertise to focus resources and enable it to deliver bigger projects Maximilian Kolb, EVP repertoire & marketing Continental Europe said: “We have shown our ability to deliver successful new releases in every European country We will now build on these strengths and focus on what will allow future growth.“ BMG’s new chief financial officer will be Thomas Coesfeld the recorded music & publishing giant has confirmed Coesfeld will join the international as deputy CFO on October 15, 2020, before ascending to CFO and the executive team on April 1 next year. He succeeds Maximilian Dressendörfer, who is leaving to take on new responsibilities within parent company Bertelsmann, and will report to BMG CEO Hartwig Masuch and Bertelsmann CFO Bernd Hirsch Coesfeld currently serves on the executive committee of the Bertelsmann Printing Group and as chief strategy officer at Mohn Media “I very much look forward to working closely with Thomas Coesfeld,” said Masuch “Thomas has demonstrated great entrepreneurial skills in his previous positions he has already worked for BMG during his time in the Bertelsmann entrepreneurs programme with his strategic perspective and strong customer focus is the ideal candidate for the CFO position at BMG as we continue our growth path with a strong focus on the needs of artists and songwriters I would like to thank Maximilian Dressendörfer with whom I have been building BMG for more than 10 years,” he added “Max was instrumental in our successful development from start-up in 2008 to becoming the world’s fourth largest music company I wish him all the best for his future.” "As a strategic growth platform, BMG is very important to Bertelsmann's business development,” said Hirsch “I would like to welcome Thomas Coesfeld to Bertelsmann's finance community and look forward to working with him.” Coesfeld initially joined Bertelsmann in 2016 as part of its entrepreneurs programme He previously worked as a management consultant at McKinsey * To make sure you can access vital music business information wherever you are, sign up for Music Week’s digital edition by clicking here 1/37Boys High School Wrestling photos: High Point vs Kittatinny .st1{fill-rule:evenodd;clip-rule:evenodd;fill:#2a2a2a}By Matt Bove | For NJ Advance MediaKittatinny head coach John Gill and High Point head coach John Gardner have been at the forefront of Sussex County’s greatest wrestling rivalry for what feels like eternity Wrestling-crazed Sussex County certainly has an argument as the strongest county for wrestling history in the state of New Jersey and Gill and Gardner have carved out a huge role in that Gill -- in his 44th season as Kittatinny’s head coach -- and Gardner have had some legendary battles over the years Gardner is in his final season as High Point’s head coach and will take over the girls program next year -- marking the end of an era in Wantage “I watched John wrestle here as a kid and then I’ve coached against him,” Gill said “He’s gotten the better of me most of the years He made me a better coach trying to catch him year after year I’m very happy to have worked with him even as opposing coaches.” The two coaching titans went head-to-head for one final time in front of a standing-room only crowd as there was not a single spot to be had in the High Point bleachers It was Kittatinny that came out on top this time with a 33-24 win over High Point as the Cougars made a huge statement in a raucous road environment This was Kittatinny’s first win over High Point since 2021 after dropping matches to the Wildcats the past two seasons The all-time series is now 32-15-1 in favor of High Point “This is massive,” senior Bryce Coesfeld said “I remember my freshman year beating them and it was a memory forever Losing two years in a row did not feel great but I feel like we rose to the occasion tonight for sure.” Kittatinny’s strength the past few years has been in the middle and upper portion of its lineup The Cougars swept the Wildcats in seven straight bouts from 144 pounds through 215 pounds after trailing 21-9 as they overcame the early deficit “When we got down early it could have been a lot worse,” Gill said A big win for us was Jacob Savage at 144 and that got us some hope You really have to be on your game and things have to work well Savage got the run started for the Cougars at 144 with a workmanlike 3-0 win over Michael Tidona Two more decision victories by Aiden McLain (150) and Reece Smith (157) allowed Kittatinny to continue to claw back and get within 21-15 Smith did not give up any points and only needed a reverse in a 2-0 triumph Hammer Ethan Dalling moved to 17-1 on the season with a quick pin in 44 seconds over Nick Marangi at 165 that tied the score Kittatinny senior Kaleb Ogar gave his team its first lead since 6-0 by scoring a 9-4 decision over Jack Kithcart Coesfeld came out aggressive for the Cougars in the first period at 190 and earned the biggest roar from the away crowd on the evening as his pin on 1:29 gave Kittatinny a lead with separation Coesfeld is not one to typically show emotion after wins but this kind of rivalry and crowd will bring that out in even the calmest of wrestlers I knew I could take it to him and beat him I always try to not show too much emotion in matches It was just a huge win for me and my team.” With stud 215-pounder Tucker Lockburner on deck the pin by Coesfeld put Kittatinny in the driver’s seat and Lockburner moved to 15-1 on the year with a 4-0 victory over Mason Mericle After winning sectional titles the past two seasons Kittatinny is hoping it has the team to take that next step as potential Group 1 state champions The Cougars are 11-1 this year with their lone loss coming to Delaware Valley and they are hoping for a potential rematch against the Terriers with everything on the line but we’re coming back for them in the state finals.” The N.J. 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All rights reserved (About Us) Community Rules apply to all content you upload or otherwise submit to this site Ad Choices In News by Porter AndersonApril 6 Penguin Random House’s Markus Dohle appoints Rebecca Smart and Paul Kelly to succeed Carsten Coesfeld at DK On the Penguin Random House stand at London Book Fair By Porter Anderson, Editor-in-Chief | @Porter_Anderson Penguin Random House this week at London Book Fair has its stand at 6D23 this change will follow the departure from the DK CEO role of Carsten Coesfeld who will leave to become CEO of Bertelsmann Investments Smart is a leader whose work Publishing Perspectives readers have followed since she was CEO of the influential Osprey Group Dohle’s memo to his international staff mentions “she was acclaimed for [her] digital content strategy” and her ability to “grow the business both organically and through acquisition.” She’d go on to the role of managing director at PRH’s Ebury division before the move in January 2019 to DK as its managing director for publishing She’s also gained a reputation as a fine in many instances—as when she generously worked with this reporter to speak to an authors’ conference produced by The Bookseller in London is being honored for his work in digital transformation “and the development of new publishing channels He has worked as commercial and strategy  director at Penguin Random House UK and International “where he oversaw online and digital business development,” Dohle’s note says “and gained expertise in multiple territories around the world and in May 2021 he assumed additional responsibility as  president of DK US giving him direct oversight of DK’s biggest market globally.” will join the Penguin Random House Global Executive committee “I’m very much looking forward to working with Rebecca and Paul and the entire DK team on the  ongoing implementation of DK’s successful growth strategy.” will have had a rather short tenure as DK’s CEO having been put into the role by Dohle only in March 2020 “I’m sure that few could have managed stepping into a CEO role during these tumultuous times,” Dohle writes “He successfully navigated the immediate challenges of the coronavirus COVID-19 pandemic while developing a holistic strategy with the leadership team to propel DK’s growth in the global marketplace.” would see its best year in its 48-year history in 2021 expanding the discovery of its books online while continuing to support all retail  channels for books and implementing strategic partnerships with our Penguin Random House sister companies,” as he describes it for the founding duo Christopher Dorling and Peter Kindersley More from us on the coronavirus COVID-19 pandemic and its impact on international book publishing is here Porter Anderson has been named International Trade Press Journalist of the Year in London Book Fair's International Excellence Awards He is Editor-in-Chief of Publishing Perspectives He formerly was Associate Editor for The FutureBook at London's The Bookseller Anderson was for more than a decade a senior producer and anchor with CNN.com which now is owned and operated by Jane Friedman The licensed breeding stallions First Selection and Furstenball OLD won the Bundeschampionate qualification classes held at the regional show in Coesfeld/Lette on 8 June 2012 No less than 40 horses came to Coesfeld in an attempt to qualify for the 2012 Bundeschampionate in Warendorf Peter Borggreve steered the Westfalian stallion First Selection (by First Final x Fidermark) to victory in the 5-year old L-level dressage horse test The combination received an 8.2 score from judges Harry Lorenz Jutta Oelrich-Verlage and the Westfalian gelding Flensburger (by Friedensritter x Davignon) were the runners-up with 8.1 She tied with Eva Möller on the Oldenburg gelding Sa Coeur (by Sir Donnerhall I x Don Davidoff) The judges of the 6-year old division, Harry Lorenz, Hans-Theodor Fliess, and Jürgen zur Nieden, left little doubt about it that Ines Westendarp and the Oldenburg licensed stallion Furstenball (by Furst Heinrich x Donnerhall) ruled the roost in Coesfeld Lone Boegh Henriksen and Paul Schockemohle's dark bay stallion scored a winning 8.5 and placed ahead of American Jennifer Hoffmann on Gestut Letterberg's Westfalian stallion Instertanz V (by Insterburg x Ehrentanz II) Hoffmann ranked second on a score of 8.3 and was also third on Florentinus V (by Florestan x Londonderry with 8.2 Results - 2012 BuCha Qualifier - Coesfeld/Lette Back to the 2012 Bundeschampionate Index MEDFORD — Improvements to the Cranberry Pines School playground could be made as early as spring Nearly $13,000 from the recent sale of “spirit wear,” a family movie night and donations will allow the school to move forward on the first phase of its renovation plan Combined with $35,000 from a student activities fund that was earmarked for the playground “It’s a great start,” Coesfeld said Thursday The principal hopes the first phase of work will be completed in three months The school’s Playground Planning Committee is in the process of selecting the equipment weighing highest-priority needs as well as costs The results of a student survey also are being considered “We looked at items that were of most interest to the kids and parents,” Coesfeld said The multiphase plan will add equipment and re-purpose outdoor areas as funds allow Organizers would like to install modern equipment and add sections in the future Tentative plans also include shade trees and benches The existing sand that blankets the play areas will be replaced with mulch “I have aspirations of giant jungle gyms out there,” Coesfeld said One aspect most likely to be realized in the first phase is the track which is designed to surround the play equipment and athletic fields “That will go into play because it provides handicapped access,” Coesfeld said and shortened in length as a cost-saving measure and plans were scrapped to put exercise stations along the track Parents and staff intend to reduce the first-phase costs by using unpaid labor including those with playground installation experience we’re looking for a number of volunteers,” he said The school also is seeking donations of equipment and materials The existing recreational space consists of several sets of swings and monkey bars as well as a newer slide that stands alone in an otherwise barren area the playground contained many other pieces but parent Nancy Hutchinson said about 80 percent has been removed as apparatus became unsafe Equipment was periodically taken out without being replaced leaving an overabundance of open spaces with little shade “The (Cranberry Pines) building is in very good shape but the playground unfortunately has seen better days,” Coesfeld said Exposed foundations left in the ground serve as reminders of how the playground used to be The school’s 384 students take turns using the limited equipment at predetermined recess times by grade level About 70 students are enrolled in each grade and there is not enough equipment to go around “They go out and are left to their own devices,” Coesfeld said the principal said efforts have been made in recent years to refurbish the deteriorating playground but funds have not been available because of budget constraints He said he hopes to continue bolstering the playground fund through grants and assistance from local Rotary clubs as well as donations from parents of future students “We’re not leaning on the same group of parents to shoulder the whole project,” Coesfeld said