Beatles to boost Chrysalis profits above expectations

By DAILY MAIL REPORTER
Updated:

Revenue from last month's release of the digitally remastered Beatles albums is set to boost music publisher Chrysalis' profits ahead of board expectations.

The group, which is expected to return to the black this year, collects a 'modest percentage' on every new Beatles album sold because it owns producer George Martin's master rights to several of the albums including Abbey Road and Rubber Soul.

Worldwide sales of the remastered albums reissued by EMI surpassed 2.25 million copies within days of release.

beatles

Slice of the pie: Chrysalis earnings have been boosted by revenues from sales of the digitally remastered Beatles albums reissued by EMI last month


The death of Michael Jackson has also increased revenue as the company owns the rights to several of the singer's best-known hits including Thriller and Rock with You, both written by Rod Temperton.

Chrysalis has also benefited from the recent chart success of contemporary artists including The Gossip, Bat for Lashes and The Horrors. These follow on from first-half hits by White Lies, The Fleet Foxes and The Yeah Yeah Yeahs.

The group said today that its music publishing division as well as its book distributor Lasgo Chrysalis had stretched third-quarter success through to the end of the year.

'Consequently, the full year results are anticipated to be slightly ahead of the board's expectations,' it confirmed.

Chrysalis added that its focus continued to rest on cutting costs and overheads and said it had an unused debt facility of £37.4million.

The group still has an eye out for acquisitions to further boost its music catalogue of artists and writers.

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