VMAs BEAMING BACK
TO THE BIG APPLE Getting back to where they once belonged (4/24a)
THE COUNT: ALL THE DESERT'S A STAGE
Jon Wayne is rolling over in his grave. (4/24a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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A CHORUS OF PRAISE: IVORS 2024 NOMS
Revenue at U.K.-based indie giant Beggars Group jumped by nearly 30% last year, thanks in part to Adele.
According to its 2021 financial results filed this week, Beggars' revenue grew by 29.7% to £79.9m. Total operating profit was up 54.5% to £10.02m. The impressive hike is partly due to the U.S. recording rights to Adele's first three albums reverting back to XL Recordings last year, according to MBW.
This year, the figures may not be so positive. Due to Brexit, supply routes into Europe have become “more difficult, lengthy and costly, which will have an impact on margins,” the company said.
In addition, Beggars says that the “poor economic outlook and galloping inflation” will bring pressure on production and promotional costs, as well as overheads in general. It also says that the outlook for a weakening pound will make supply pressures worse.
That said, Beggars hopes that its international customer base and the borderless streaming market will act as a “limited hedge” against these elements.
Last year, Beggars—home to XL Recordings, 4AD, Rough Trade Records, Matador Records and Young Recordings—delivered 33 new releases.
