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Chrysalis cuts losses to £2.6m
22.05.09
Record company Chrysalis today posted losses of £2.6 million as the music world remained in recession.
The losses for the six months to the end of March were far narrower than the £13.1 million in the first half last year.
Revenues increased from £28.5 million to £31.2 million as demand for artists such as David Bowie, Blondie and Gnarls Barkley held up. Chrysalis also has The Gossip, The Cribs and Estelle on its roster.
"The continuing robust performance of our catalogue confirms our belief that the value of strong intellectual property is holding up in the difficult current economic environment," said chief executive Jeremy Lascelles.
