CHRYSALIS RECORDS REPORTS HUGE GROWTH SINCE BLUE RAINCOAT ACQUISTION
Chrysalis Records, acquired just over two years ago from Warner Music by Blue Raincoat Music, today announces major growth since the label came back into independent ownership. Blue Raincoat was formed and is led by Jeremy Lascelles and Robin Millar.
In the latest Q2 figures, Chrysalis reports a turnover topping £3.675m for the year to June 2018. This is in marked contrast to the legendary label’s performance in the nine months pre the June 2016 sale, with a turnover of just £205,000.
Artists on the Chrysalis roster include The Specials, 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 the label, streaming stood at around 250,000 streams per day. In line with their proposed strategy to ensure Chrysalis was fit for the digital world the streams are currently hitting the 1 million per day mark – a staggering 100% year on year rise across two years. These numbers have outstripped market performance by over 3 to 1, even in a landscape that has seen the massive growth of streaming in recent years.
Earlier this month at the AIM Awards the Blue Raincoat artist roster received seven nominations, making it the independent company with the most nominations this year. On the night there were wins for Phoebe Bridgers as International Breakthrough Act and Let’s Eat Grandma as Best Sophomore Album. In addition, 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,
“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.”