Beggars Group profits jumped 55% in 2021, as US rights to Adele’s first 3 albums reverted back to XL Recordings

XL Record (and its co-owners Group of beggars) made a big ‘buyout’ of the music rights in 2021 … but didn’t have to do anything to get it.

Earlier this year, Beggars confirmed to MBW that the United States had the recording rights to Adelethe first three albums of (19, 21and 25) was reverted to an XL Record in the US in 2021.

That marks the end of an extended license agreement between XL and Music by Sony/ Columbia in the territory.

As a result, XL now owns the rights to record Adele’s first trilogy of albums globally on streaming services and does not have to share any of the resulting revenue with a licensing partner.

(After leaving XL / The beggar follows 25Adele has signed a direct global agreement with Sony/Columbia – a license agreement through her own Melted Stone Ltd – for recent album 30 and future recordings.)

We now know how the UK-based Beggars Group is performing as a business in 2021: According to a new profile on the UK Companies page, the Beggars Group has created £79.98 million GBP last year, increased by 29.7% YoY.

That figure includes Beggars’ stake in various joint venture businesses including XL Recordings, Matador and Rough Trade, of which Beggars each own 50%.

(Among other activities, Beggars also 100% owns 4AD and runs its own publishing company within Beggars Music.)

Beggars operating profit (including joint venture) in 2021 increased 54.5% by year arrive 10.03 million GBP are from 6.49 million pounds in the previous year (2020).

That represents the second year in a row Beggars’ operating profit has nearly doubled: 77% increase in 2020.

The beggar speaks in annual financial statements:”[In 2021 we] continues to develop its own new content for online marketing. We’ve distributed 33 new releases (2020 – 32) across our brands with many achieving critical success in various year-end polls.

“Additionally, we continue to unlock our catalog by partnering with independent retailers on vinyl reissues and with our streaming partners on grassroots campaigns. global fans.

“We remain committed to treating artists fairly and have developed a number of industry-leading policies to reflect that.”

“This activity, as well as the continued growth in DSP subscriber numbers and the continued demand for vinyl in general, has resulted in significant growth in the income streams from the category. The shortage of vinyl molding capacity remains a major challenge, as are supply chain problems and growing transportation costs.

“We remain committed to treating artists fairly and have developed a number of industry-leading policies to reflect that these policies have become an important component of what the company stands for. “

Neglecting Beggars’ stake in joint ventures, the company created 45.16 million pounds in 2021 (see below).

(Some 34.97 million pounds the number was generated outside of the UK, according to Beggars’ account; 10.19 million pounds made in the UK.)

The group’s operating profit without such joint ventures (including XL) is £3.73 million; that number jumps up a further distance 6.30 million pounds when Beggars’ stake in joint ventures is included in the figures.

Of that £6.30 millionn, The accounts of the beggar revealed, for the most part – £5.90 million – powered by XL Recordings.

UPDATE: In one to separate The company’s UK filings have now revealed that XL Recordings generated £56,875 million in 2021, a 47 per cent increase on the same period last year.

XL Recordings’ operating profit in 2021 is £14.283 million.

Beggars start in 2021 with 25.45 million pounds cash; it ended the year with £34.38 million GBP cash.

The company employed an average of 152 people directly during the year, up from 142 people in 2020.

Beggars is 100% owned by Chairman Martin Mills.

The company paid a £1.0 million dividend in 2021 but no dividend in 2020.Worldwide music business