Quantcast
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)

FALLING FOR HITS LIST
What people are talking about right now. (9/27a)
RIHANNA SCORES
SUPER BOWL GIG
Teamwork in action (9/27a)
A FREAKY, SLEAZY, HAPPIER RUN OF RADIO #1s
The further adventures of Spanky and his gang (9/27a)
KYNCL CULTURE
See ya on 1/1/23. (9/27a)
RIHANNA SCORES
SUPER BOWL GIG
There's nothing like Arizona in February. (9/27a)
GRAMMY SEASON
New categories! New rules! New WTF!
THE BIG DEAL
It's the one you didn't see coming.
RAID AT MAR-A-LAGO
"Who took my passports?"
HITS' 36TH ANNIVERSARY SPECIAL
Allow us to apologize in advance.
Blighty Beat
BEGGARS GROUP PROFITS UP
7/29/19

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."

…Read more