CHRYSALIS + CATALOG STREAMING = CASH FLOW

Chrysalis Records in the U.K. has increased its turnover to £3.675m for the year ending June 2018 under its new independent ownership—a marked improvement on the £205k the company earned in the nine months leading up to its acquisition by Blue Raincoat Music from Warner in 2016.

The rise is largely down to monetising historic catalogs in the streaming age. Its roster includes music from The Specials (pictured), Sinead O’Connor, The Waterboys, Ten Years After, Grant Lee Buffalo, Lucinda Williams, Fun Lovin’ Criminals, Steve Harley, Fun Boy Three, Ultravox and the Two Tone label.

Prior to Blue Raincoat buying Chrysalis in June 2016, streaming for its catalog stood at around 250k streams per day. Currently, streams are hitting the 1m per day mark—a 100% rise year on year, outstripping market performance by over three to one.

In addition, the label’s roster received seven nominations at September’s AIM Awards in London. On the night, there were wins for Phoebe Bridgers as International Breakthrough Act and Let’s Eat Grandma for Best Sophomore Album. Tracey Thorn of Everything But The Girl, who signed a long-term global licensing agreement with Chrysalis Records in 2017, was recognised for her Outstanding Contribution to Music.

Jeremy Lascelles, CEO Blue Raincoat Music and Chrysalis Records, said of the results: “From day one, we set out to create an integrated music company, combining a high quality catalogue with the contemporary acts we manage or sign to our publishing arm. This model is reflected in the success we are now having across such a diverse array of talent.

“When we acquired Chrysalis Records, it had had three different owners over the previous five years, so perhaps had been slightly neglected. We knew that it would require a lot of love and attention to get it into shape. It’s therefore very pleasing that the hard work is now really starting to pay off which is a tribute to all the team here at Blue Raincoat.”