Beggars Group has published its financial results for 2014 with revenues of £42m and a net profit of £3.8m.
According to its latest figures, the group’s figures were slightly lower than 2013’s £4.03m and their revenues of £52.88m reported last year.
The number of releases from Beggars in 2014 stood at 44 - up slightly from 40 in 2013.
However, Music Ally reported that the biggest factor for the group is that their financials returned to where they were in 2010. This is significant because 2011 was the year of Adele’s 21, Beggars Group subsidiary XL Recordings huge seller. 2015’s figures will include just over a month of sales of Adele’s next album 25, due for release on 20 November.
A statement from the company said: ‘In 2014 the global music market has seen a huge growth in streaming at the expense of physical sales, and to some extent, downloads,” said a statement from the company.
‘Beggars Group Limited too has experienced a similar shift to streaming. We remain committed to supporting physical formats, and vinyl sales in particular have exceeded our expectations.’
Visit the Beggars Group website to find out more.
According to its latest figures, the group’s figures were slightly lower than 2013’s £4.03m and their revenues of £52.88m reported last year.
The number of releases from Beggars in 2014 stood at 44 - up slightly from 40 in 2013.
However, Music Ally reported that the biggest factor for the group is that their financials returned to where they were in 2010. This is significant because 2011 was the year of Adele’s 21, Beggars Group subsidiary XL Recordings huge seller. 2015’s figures will include just over a month of sales of Adele’s next album 25, due for release on 20 November.
A statement from the company said: ‘In 2014 the global music market has seen a huge growth in streaming at the expense of physical sales, and to some extent, downloads,” said a statement from the company.
‘Beggars Group Limited too has experienced a similar shift to streaming. We remain committed to supporting physical formats, and vinyl sales in particular have exceeded our expectations.’
Visit the Beggars Group website to find out more.
