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.