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Business News Labels & Publishers
Chrysalis release upbeat financials
By CMU Editorial | Published on Thursday 27 May 2010
Independent music publisher Chrysalis was upbeat yesterday when reporting on the first half of its current financial year. The company’s net publisher’s income share (so royalty revenues after songwriters and composers have been paid their share) was up 15% to £7.5 million.
Two of its songwriters, Fraser T Smith and Rob Swire, who co-wrote recent hits from Taio Cruz and Rihanna respectively, helped boost the publisher’s fortunes, though it was last year’s big Beatles re-release promotion that brought in the serious cash (Chrysalis have a share in the publishing royalties there via its partnership with producer George Martin).
Chrysalis top man Jeremy Lascelles told reporters: “We have made a very encouraging start to the remainder of the financial year with successive number one singles in the US, and are confident of building on this with a strong release schedule in the second half”.
