Lord Fickle
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Post by Lord Fickle on Jul 8, 2021 17:02:06 GMT
Despite not having released a studio album since 1995, Queen remain one of the most profitable musical acts in the world, generating £41.95 million in the year spanning September 2019 to September 2020, their latest accounts show. According to the International Federation of the Phonographic Industry, the global body for recorded music, Queen were the fifth biggest revenue-generating recording artist of 2019, and the sixth biggest in 2018. The group didn’t make the top ten in the 2020 list, topped by Korean boyband, however, according to the Music Business Worldwide website, the most recent annual accounts filed by Queen Productions Ltd - jointly and equally owned by Brian May, Roger Taylor, John Deacon and the estate of Freddie Mercury - reveal that the group generated £41.95 million in the 12 months leading up to September 2020, making over £19 million pre-tax. www.loudersound.com/news/queens-latest-accounts-reveal-they-earned-almost-pound42-million-in-12-months. |
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Golden Salmon
Wordles & Heardles 
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Post by Golden Salmon on Jul 8, 2021 17:19:43 GMT
Profits too low, they must be scrambling to make a £299.99 Greatest Hits deluxe edition with a plastic mustache as we speak.
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donovan
Dragonfly Trumpeter
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Post by donovan on Jul 8, 2021 18:58:04 GMT
I know it's not a popular opinion, but good on them. They deserve to max out the profits on their life's work.
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Post by saintjiub on Jul 8, 2021 18:58:27 GMT
Profits too low, they must be scrambling to make a £299.99 Greatest Hits deluxe edition with a plastic mustache as we speak. ... and a razor blade too, because the American concert fans wanted Freddie to shave off the mustache ... |
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Lord Fickle
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Post by Lord Fickle on Jul 8, 2021 19:03:39 GMT
I'm guessing a high proportion of the profits would have been generated from touring, which may fit with why they dropped slightly last year.
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pg
Queen Mab
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Post by pg on Jul 8, 2021 19:06:12 GMT
While I can't remember the exact corporate structure, I'd be pretty confident that the touring operation is out of a subsidiary (in order to cut AL in, and probably to cut down/out JD)
Therefore, the share of that profit due to QPL will be exactly that. PROFIT.
which leads to me to my hypothetical question.
If QPL has revenues of 42m and profit of 19m, what are the costs?
Ok, there are offices, probably equipment storage, publicity, but unless there's a dividend being taken, what else is going on?
Jim Beach should be on a percentage of profit, not revenue. Record company royalties will be paid net of production costs. Greg can't be that expensive.
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Lord Fickle
Global Moderator
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Post by Lord Fickle on Jul 8, 2021 19:09:51 GMT
While I can't remember the exact corporate structure, I'd be pretty confident that the touring operation is out of a subsidiary (in order to cut AL in, and probably to cut down/out JD) Therefore, the share of that profit due to QPL will be exactly that. PROFIT. which leads to me to my hypothetical question. If QPL has revenues of 42m and costs of 19m, what are the costs? Ok, there are offices, probably equipment storage, publicity, but unless there's a dividend being taken, what else is going on? Jim Beach should be on a percentage of profit, not revenue. Record company royalties will be paid net of production costs. Greg can't be that expensive. Storage for all the Greatest Hits CDs they're desperately trying to offload?  |
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pg
Queen Mab
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Post by pg on Jul 8, 2021 19:26:16 GMT
Record company storage, plus they're clearly shifting them...
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pg
Queen Mab
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Post by pg on Jul 8, 2021 19:38:13 GMT
Ok. £42m revenue, of which 99% is royalties.
Cost of sales £9m probably IS manufacturing costs, given they own the masters and licence them to record company. Seems quite high, especially as I assume licensing fees are within the royalties number.
£10m in administration expenses still seems excessive to me though.
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Golden Salmon
Wordles & Heardles
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Post by Golden Salmon on Jul 8, 2021 21:04:05 GMT
It's kind of funny to think that there's an office (most likely more than one) out there, somewhere, that employs a number of people that work exclusively for Queen's machine / legacy / whatever, as well as for each one of their members. I can almost imagine a sitcom with Queen as the connective tissue, featuring greedy bosses, overly enthusiastic nerds and unlucky souls on the brink of madness, all of them listening to "Body Language" on the elevator music every day. Plus a whole department dedicated to Greatest Hits 1 and its various forms.
I know next to nothing about the infrastructure behind Queen, but QPL is a company that somehow has been running for decades and they have to have / have had lots of employees. I don't think they share much of their infrastructure with, say, a record label or whatever. A number of big bands must have their very own considerable workforce.
That begs the question: has any ex-employee ever shared any insider info on the Internet that we know of? How many known leaked recordings originate from disgruntled or careless workers? We know that people working for record companies, music studios and similar have had access to Queen multitracks and they've eventually gotten to us.
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BrƎИsꓘi
Administrator
They called it paradise, I don't know why...You call some place paradise, kiss it goodbye.
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Post by BrƎИsꓘi on Jul 8, 2021 21:40:05 GMT
Record company storage, plus they're clearly shifting them... Storage Container hire for the contents of Patrick Moore's old house?  |
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Makka
Dragonfly Trumpeter
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Post by Makka on Jul 9, 2021 2:07:49 GMT
Ah good on them. Not many bands can do that these days, especially one that has been around in one form or another for 50 years.
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nickip
Dragonfly Trumpeter
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Post by nickip on Jul 9, 2021 5:21:37 GMT
I looked at the thread title and thought it said Queen remainS
That would have put a very different spin on things…..
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pg
Queen Mab
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Post by pg on Jul 9, 2021 6:01:46 GMT
Record company storage, plus they're clearly shifting them... Storage Container hire for the contents of Patrick Moore's old house? That'll be under Duck Productions. Next! 😉 |
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Post by The Fairy King on Jul 9, 2021 6:29:14 GMT
It's kind of funny to think that there's an office (most likely more than one) out there, somewhere, that employs a number of people that work exclusively for Queen's machine / legacy / whatever, as well as for each one of their members. I can almost imagine a sitcom with Queen as the connective issue, featuring greedy bosses, overly enthusiastic nerds and unlucky souls on the brink of madness, all of them listening to "Body Language" on the elevator music every day. Plus a whole department dedicated to Greatest Hits 1 and its various forms. I know next to nothing about the infrastructure behind Queen, but QPL is a company that somehow has been running for decades and they have to have / have had lots of employees. I don't think they share much of their infrastructure with, say, a record label or whatever. A number of big bands must have their very own considerable workforce. That begs the question: has any ex-employee ever shared any insider info on the Internet that we know of? How many known leaked recordings originate from disgruntled or careless workers? We know that people working for record companies, music studios and similar have had access to Queen multitracks and they've eventually gotten to us. A QPL comedy series would be funny as hell in an "The Office UK" type setting. I would cast Ricky Gervais as Greg Brooks...no brainer.  |
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dysan
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Post by dysan on Jul 9, 2021 10:46:47 GMT
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