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
Independent British company Beggars Group enjoyed a pre-tax profit rise of 46% last year on sales of £74m. A princely sum from the sale of its Spotify stake, half of which was passed on to artists, awarded Chairman Martin Mills an £8m dividend.
For the year ending Dec. 31 2018, Beggars Group turned over £74.2m in sales from 36 releases. Gross profit (before expenses and tax) hit just under £12m—a rise of 46% from 2017’s £8.2m.
Fifty percent of proceeds from the sale of its shares in Spotify were given to Beggars signed artists, both past and present, with 44% being paid out after recoupment. The accounts note that "certain other companies apparently distributed these revenues based on the artist royalty rate, meaning they would have paid out a far lower percentage irrespective of recoupment."
