Music Label Revenue

Part
01
of six
Part
01

Music Label Revenues (1)

The annual revenues for the indicated record labels range from $1.8 million to $87.2 million. The details of each of the companies are in this attached spreadsheet.

Record Labels Revenues

Research Strategy

We started the research by searching for each company’s annual report, since the annual revenue could be available there, but it was not available. We then expanded the research by looking at company databases. These included ZoomInfo, Hoovers, and Crunchbase, and they provided the revenue of the companies but 5 of them. The companies are 2101 Records, 300 Entertainment, American Recordings, Bad Boy Entertainment, and Best Beat Records. For these remaining 5 companies, our next strategy was to expand the research by looking at news articles, which included PR Newswire, Financial Times, Music Business Worldwide, Forbes, and Billboard. The rationale for this is that the revenue of these companies could be available in the music industry publications, but only information on the music industry market size and musicians partnering with the record labels were available.
Our next strategy was to determine if these record labels have parent companies. This is because the parent companies could have reported the revenues based on their subsidiary companies. We discovered that 2101 Records, 300 Entertainment, Bad Boy Entertainment, and Best Beat Records had parent companies. However, none of the parent companies provided breakdowns of their revenues. The unavailability of the revenue of these companies could be due to competitive reasons.
Part
02
of six
Part
02

Music Label Revenues (2)

Black River Entertainment, Bloodshot, and Concord Music Group generate $6 million, $17 million, and $33.57 million in annual revenues, respectively. The attached spreadsheet contains the revenues for the record labels in rows 23-43. All the listed labels are privately-held. Thus, none of these record labels report their marketing spends. Below is a summary of our findings.

Research Strategy

Despite our research through each company's website, company profiling databases, research firms, and the public domain, we were unable to find the annual revenue of Blue Note Records, Capitol Christian Music Group, Cherrytree Records, Custard Records, DB Records, and Broken Arrow. Thus, we tried an alternative strategy. We aimed to verify whether these two companies are owned by parent companies. Our strategy was to find the breakdown of these parent companies in terms of owned brands. Luckily, we identified Cherrytree Music and BMG as being the parent companies of Cherrytree Records and DB Records, respectively. However, none of these parent companies provided the breakdown of their annual revenue. Therefore, for Cherrytree Records and DB Records, we provided the annual revenue of their parent companies. However, this strategy was fruitless for Blue Note Records, Capitol Christian Music Group, Custard Records, and Broken Arrow since these companies are not owned by other companies.
For Blue Note Records and Capitol Christian Music Group, we provided data from Owler because it is the only available revenue estimate.
Part
03
of six
Part
03

Music Label Revenues (3)

Ingrooves generates around $100 million, while Epic has an estimated revenue of $27 million. The annual revenues for the listed record label companies have been entered in rows 44-64 of the attached spreadsheet and a brief overview of the findings is presented below.

Summary

Research Strategy

To obtain the annual revenues for the listed record label companies, we searched their websites, databases such as ZoomInfo, Dun & Bradstreet and Craft.co and news articles and publications such as Billboard, Music Business Worldwide, PR Newswire and others. Unfortunately, we were unable to find revenues for Epic U.K., Fueled By Ramen and Hybrid Recordings. We then tried to find revenues for their parent companies. However, we only found this information for the Warner Music Group, the owner of Fueled by Ramen.

Part
04
of six
Part
04

Music Label Revenues (4)

Loma Vista, Marsalis Music, and Matador generated $4 million, $30 million, and $28 million in annual revenues respectively. The annual revenues for the record labels in rows 64-84 have been provided in the attached spreadsheet. Further details are presented below.

Summary of Findings

  • Island Records, Mercury U.S., and Mercury U.K. are owned by Universal Music Group. The annual revenue of Universal Music Group was $7.7 billion in 2019.
  • Ministry of Sound was acquired by Sony Music U.K. in 2016. The annual revenue of Sony Music U.K. was $4 billion in 2019.
  • Maple Music is owned by MapleCore Ltd. MapleCore has an annual revenue of $4.6 million.
  • Warner Music Group acquired Parlophone in 2013. Warner Music Group generated annual revenue of $4.5 billion in 2019.
  • Motown's annual revenue is $45 million.
  • Motown Gospel has an annual revenue of $6 million.

Research Strategy

We were unable to provide the annual revenues for Island Records, Mercury U.S., Mercury U.K., Ministry of Sound, Maple Music, Parlophone, Nettwerk, Patriot, and Peak. We scoured through the company websites, public domain, and company databases (Manta, Craft.co, Zoominfo, Crunchbase, and others). Thus, we tried an alternative strategy to verify if these companies are owned by parent organizations. Our strategy was to find the breakdown of these parent companies in terms of owned brands. Luckily, we identified the parent companies of six companies except for Nettwerk, Patriot, and Peak. None of the companies provided a breakdown of their revenues. This strategy was futile for Nettwerk, Patriot, and Peak record labels. Consequently, we entered N/A in their respective rows and provided the annual revenues for the parent companies.
Part
05
of six
Part
05

Music Label Revenues (5)

The annual revenues for the assigned record labels have been provided in rows 84 to 106, Column C of the attached spreadsheet. Below is a summary of the key findings.

Summary of Findings

Research Strategy

It is noteworthy that we did not find revenue information for Peak, Polo Grounds Music, Priority, Razor & Tie, RCA (UK), Republic Nashville, Rough Trade, Sony Music Canada, and Sony Music Latin. We first looked through their respective websites for revenue information but did not find useful data. We further searched through industry sites, such as Forbes and NPR but these sites did not have any information on the companies besides the artistes they have signed. Data aggregators, such as Dun & Bradstreet and Rocketreach also did not have revenue information about the companies. The information that we found focused on their parent companies, which were mainly Concord Music Group, Universal Music Group, and Sony Music Entertainment. The three labels have annual revenues of $33.57 million, $7.7 billion, and $1.99 billion respectively.
Part
06
of six
Part
06

Music Label Revenues (6)

The annual revenues for the assigned record label companies have been provided in rows 107 to 128, column C of the attached spreadsheet. While we were able to provide the revenue of a majority of the companies, the revenues for Verity, Warner Brothers UK, and Word (WEA) are unavailable in the public domain. An overview of our key findings is outlined below:

  • Team Love Records' revenue is estimated to be approximately $4 million.
  • Tommy Boy’s revenue is about $1.55 million.
  • Vanguard has estimated revenue of $2 million.
  • Vapor Records Inc’s revenue is approximately $250,000.
  • Verve Music Group has estimated revenue of $10 million
  • XL Recordings recorded approximately $65 million as revenue in 2018.
  • In 2019, Warner Music Nashville (WEA) recorded $953 million.
  • Wind-up's revenue is estimated to be about $16 million.

Research Strategy

To provide the annual revenues for the listed music record labels on rows 107 to 128 of the attached spreadsheet, your research team combed through the websites of the various companies as well as third party company data aggregators' databases, business directories and media sources such as Dun & Bradstreet Inc, ZoomInfo, Rocket Reach, Manta, Billboard, Music Business Worldwide, PR Newswire, and Business Insider. While we were able to locate the revenue of a majority of the assigned record labels, we were unable to locate the revenues for Verity, Warner Brothers UK, and Word (WEA) after an extensive search through these sources.

We also reviewed multiple market reports on the global music record industry intending to find data points (such as market share) to estimate a proxy for Verity, Warner Brothers UK, and Word (WEA) revenues. Unfortunately, none of the reviewed market reports provided information on the market share or other data points that can be used to triangulate a proxy for these companies' revenue. Hence, we could not estimate a proxy for these companies' revenue.

An extensive search for the revenue of Warner Brothers UK shows that the record label has not published its revenue information in the public domain or currently generates zero revenue.
Sources
Sources

From Part 06