Music group Chrysalis today got a boost from renewed interest in The Beatles and Michael Jackson as it said annual results were set to beat expectations.
The firm said the recent chart successes of current artists including Bat for Lashes, The Gossip and The Horrors had ensured continued success in the fourth quarter in a resurgent year for the company.
Analysts are also forecasting further improvements in 2010 as Chrysalis reaps rewards from last month’s release of digitally re-mastered Beatles work, for which it owns Beatles’ producer George Martin’s master rights to several of the albums.
Chrysalis also whetted the market’s appetite in August with news that the writer behind Jackson hits such as 'Thriller' and 'Rock with You' – Rod Temperton - was on its books, expected to offer a stream of lucrative royalties following the singer’s death.
It said today its music publishing division and its book distributor Lasgo Chrysalis had continued to perform well since the upbeat third quarter statement in the summer.
“As a result the full year results are anticipated to be slightly ahead of the board’s expectations,” confirmed the group.
It is hoping for full-year growth in net publisher’s share (NPS), which is a key measure in the music industry, calculating the amount of royalties received by a publisher less those paid out.
NPS has been boosted by currency movements, but Chrysalis is aiming for growth even with this stripped out.