BMG ‘Doubles Down on North America’ With Multiple Executive Shifts — ‘A Distinctive New Approach’

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(l to r) BMG execs Jon Loba, Thomas Coesfeld, and Thomas Scherer. Photo Credit: BMG

BMG has moved to “double down” on operations in North America, where the Bertelsmann subsidiary is said to generate north of 50 percent of its annual revenue.

Berlin-based BMG today announced the pivot, centering mainly on a collection of C-suite shifts, via a formal release that was emailed to DMN. Previously, November had seen the music company, which has long touted its status as the largest such operation aside from the Big Three, preview a “futureproof” restructuring initiative.

Two months later, said initiative – one of a number of noteworthy developments to arrive since now-former CFO Thomas Coesfeld began as CEO last summer – is evidently in full swing. The first component of the recalibration is a new post for BMG Nashville president Jon Loba, who’s become president of frontline recordings for North America.

In the expanded role, the seven-year team member Loba is expected to take “charge of BMG’s entire North American frontline records business across Nashville, Los Angeles, New York and Canada,” the company communicated.

Next, Thomas Scherer is shifting from president of repertoire and marketing for Los Angeles and New York – having started in the position about three years back – to president of global catalog recordings. Scherer will also retain his responsibilities as president of publishing for North America.

Moreover, Scherer, Loba, and North America CFO Joe Gillen “will comprise BMG’s US-based leadership,” the professional home of Jennifer Lopez indicated.

And in a statement, Coesfeld emphasized the strategic significance of today’s move and, bigger picture, his broader vision for BMG, which is said to have turned in double-digit H1 2023 growth.

“We are making good on our promise to double down on our US operation with a distinctive new approach: an integrated frontline operation spanning the whole of North America plus a Global Catalog business steered from Los Angeles,” relayed Coesfeld, himself two decades younger than the youngest of the Big Three’s respective heads, Robert Kyncl. “BMG is stepping up. This is an integral part of our new strategy to deliver for artists and songwriters and go for growth.”

Beyond bringing high-profile catalog investments, partnerships (such as with League of Legends developer Riot Games), and signings (record deals as well as publishing pacts), Coesfeld’s tenure to date has seen BMG part ways with Warner Music’s ADA distribution subsidiary.

Subsequently, the German business inked a pact, seemingly far reaching as a whole but focusing first on physical distribution, with Universal Music this past October. That deal was then followed by a reported 40 BMG layoffs; Universal Music confirmed earlier in January that it intends to make comparatively substantial personnel cuts.