Beggars Group officially shifted ownership to a trust last October, a move meant to keep the indie giant independent long-term. Founder Martin Mills transferred his shares into the MM Settlement Trust. He and CEO Paul Redding will continue running the company, which houses labels like XL Recordings and 4AD.
Redding stated the trust will manage label partnerships with the same collaborative approach they have always used. The restructuring happened alongside strong yearly financials, with revenue hitting nearly 110 million pounds. This also follows Beggars' spending 2.6 million pounds to secure a majority fifty-one percent stake in XL Recordings.
The company's operating profit saw a sharp increase, jumping almost fifty percent. Their roster, which includes acts like Radiohead and Adele, put out thirty-two albums last year. Mills called the transition a commitment to the future, framing it as a safeguard for the company's artist-focused ethos.
Redding stated the trust will manage label partnerships with the same collaborative approach they have always used. The restructuring happened alongside strong yearly financials, with revenue hitting nearly 110 million pounds. This also follows Beggars' spending 2.6 million pounds to secure a majority fifty-one percent stake in XL Recordings.
The company's operating profit saw a sharp increase, jumping almost fifty percent. Their roster, which includes acts like Radiohead and Adele, put out thirty-two albums last year. Mills called the transition a commitment to the future, framing it as a safeguard for the company's artist-focused ethos.
