Hartwig Masuch is stepping down as CEO of BMG, a Bertelsmann-owned music company. Thomas Coesfeld, who joined BMG as CFO in 2021, will succeed Masuch as CEO effective January 1, 2024.
The news reported in Music Business Worldwide says the transition is part of a long-term succession plan and Masuch will remain with Bertelsmann in an advisory role. Coesfeld will also sit on the Bertelsmann Group Management Committee.
As CEO, Coesfeld aims to continue BMG’s success story and focus on the needs of artists, songwriters, and rights holders. Masuch has been with Bertelsmann for 32 years and has been CEO of BMG since its inception in 2008.
Coesfeld started his career at Bertelsmann in 2016 and previously worked for McKinsey as a management consultant. BMG’s 2022 full-year revenues have not been reported yet but the first half of 2022 saw a 25% YoY increase to EUR 371 million
BMG owns the catalogue for the original Trojan Records U.K. which has a roster of Jamaican artists who ruled U.K. music in the 60s. The label signed a deal Stefflon Don, the biggest British dancehall star of all time.
The partnership has delayed Stefflon Don’s “Island 54” album originally scheduled for release last August, then pushed to September, and is now scheduled for release early 2023. The company will oversee the release of her debut album.
Stefflon Don said: “I’m excited about partnering with BMG because they trust my creativity. They have an amazing support team across the globe, and I am super excited to expand my fan base alongside my new family BMG.”
Tim Reid, BMG’s SVP, repertoire & marketing, said: “Stefflon Don is a unique artist who has already accomplished so much on a global scale, collaborating with some of the biggest names in music while gaining equal acclaim on her solo projects. We are incredibly excited to partner with her on the next chapter of her musical career.”
Thomas Scherer, BMG’s president, repertoire & marketing, Los Angeles and New York, said: “Stefflon Don is an artist who knows exactly what she wants to achieve, and we are happy to be part of her journey towards this. Our partnership expands on a string of recent BMG signings with artists who desire more control of their music with our global team fully supporting them in exceeding their goals.”
The upcoming full-length debut studio album follows her critically acclaimed and U.K. Official Charting mixtapes “Real Ting” and “Secure.”
Although signed out of BMG’s LA office, Stefflon Don’s home territory of the UK will be a key priority.
London-based VP, international Terry Felgate said: “Building on the breakthrough success we had with KSI in the UK – also signed out of BMG LA – we are very excited about working with Stefflon Don and supporting her in delivering her creative vision.”
BMG & Jamaican Artists
Over the years artist have complained that they were deprived of their fair share of royalties earned from music acquired by BMG through Trojan Records UK.
Zak Starkey, son of Ringo Starr (of The Beatles) told World Music Views that, “I can’t say if everyone got paid or not, but we have no connection with Trojan UK except the word ‘Trojan’,” Zak says.
In 1975, Trojan Records went out of business and failed to pay royalties and debts. Its extensive song collection was transferred to multiple entities. Colin Newman, an accountant and businessman, then took over Trojan Recordings that same year. In 2001, Newman sold the Trojan catalogue to London label Sanctuary Records for £10.25m. In 2007, Universal Music Group acquired Sanctuary Records, which included the Trojan catalogue. Finally, BMG, a Berlin–based record label, purchased Sanctuary‘s catalogue, including Trojan‘s songs, in 2013.
With over 10,000 songs including early cuts from Jimmy Cliff, Bob Marley, and Desmond Decker, Trojan, previously a division of Chris Blackwell’s Island Records, made profits of £1.1m on £3.1m sales for the year to December 2000.
Hartwig was reportedly looking into the matter of paying artist such as Cliff who is currently signed to Universal records according to sources close to the matter.
