Domino turnover up by 55% as Arctic Monkeys inspire 2018 growth

Domino turnover up by 55% as Arctic Monkeys inspire 2018 growth

Domino Records increased its turnover by 55.9% in 2018 according to the latest set of accounts filed by the label.

With “three of the company’s more established artists” releasing albums last year, the Domino Recording Company saw its revenues rise from £13,041,000 in 2017 to £20,326,000 last year, yielding a pre-tax profit of £2,133,000. 

Between 2016 and 2017 Domino increased its turnover by 11%.

The label’s accounts tactfully do not specify the three artists, but alongside Arctic Monkeys’ sixth, chart-topping album Tranquility Base Hotel & Casino, Domino also released LPs by Animal Collective, Anna Calvi, Jon Hopkins Stephen Malkmus And The Jicks, Julia Holter, Franz Ferdinand, Dirty Projectors, Cat Power and Bill Ryder-Jones in 2018.

Domino also explained in the return filed to Companies House at the end of May that their success last year was bolstered by "strong back catalogue sales and a result of the continued growth of streaming services revenues globally."

The result has seen Domino Recording Company's operating profits rise from £1,451,000 in 2017 to £2,032,000, an increase of 40%.

 

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