BERLIN (CelebrityAccess) — German music company BMG announced the formation of a partnership with Universal Music Group that will see the two companies explore a range of collaborations around BMG-signed artists.
The deal will also see BMG move distribution of its physical product, including vinyl and CDs for the label’s artists, to UMG’s Commercial Services division, which supports retailers in 60 countries covering more than 200 markets.
Additional collaborations between the two companies are under discussion as well, including shared positions on industry matters to joining forces in adjacent business avenues, the two companies said.
“Our alliance with UMG is a significant step to further enhance our service to BMG-signed artists. We are delighted to partner with UMG, the world leader in music-based entertainment on our thriving physical recorded music business. Their scale, technology and commitment promises to further expand opportunities for BMG-signed artists around the world,” stated BMG CEO Thomas Coesfeld.
“BMG has brought a fresh vision to the music business, and we look forward to partnering with BMG on a variety of initiatives to provide greater opportunities to artists and our respective companies,” added UMG’s Chairman and CEO Sir Lucian Grainge.