Beggars Group, the indie label founded by Martin Mills, just posted some healthy numbers for last year. The company, which runs labels like XL Recordings, 4AD, and Matador, saw its total revenue hit nearly 110 million pounds. Their operating profit skyrocketed, climbing almost fifty percent to reach 10.5 million.
Most of that cash came from selling and licensing music, which brought in over 68 million pounds. Revenue jumped about twenty-five percent both inside and outside the UK. They put out a few big albums from artists like Adrianne Lenker and Fontaines D.C., which landed on a bunch of year-end lists. Even with that success, the directors noted that inflation is still squeezing their margins and causing headaches.
The label group also made some moves last year, starting a new distribution partnership and exploring tech for video game music. After paying no dividends the prior year, they handed out five million pounds to shareholders.
Most of that cash came from selling and licensing music, which brought in over 68 million pounds. Revenue jumped about twenty-five percent both inside and outside the UK. They put out a few big albums from artists like Adrianne Lenker and Fontaines D.C., which landed on a bunch of year-end lists. Even with that success, the directors noted that inflation is still squeezing their margins and causing headaches.
The label group also made some moves last year, starting a new distribution partnership and exploring tech for video game music. After paying no dividends the prior year, they handed out five million pounds to shareholders.
