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Beggars Group
British record company From Wikipedia, the free encyclopedia
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Beggars Group is a British record company, founded by Martin Mills, that owns or holds stakes in various record labels, including 4AD, Rough Trade Records,[2] Matador Records,[3] XL Recordings, and Young.
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History
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The company had its origins in the Beggars Banquet record shops, which first opened in 1973 in Earls Court, London. In 1977, inspired by the DIY aesthetics of the British punk rock movement, which was at the height of its popularity, the shop founders decided to form an independent label and release records as Beggars Banquet Records. This became the group's flagship label and name.[4]
The first band on the label was English punk group The Lurkers; the first ever release on the label was The Lurkers' "Shadow"/ "Love Story" 7-inch single.[4] Later in the decade and into the early 1980s, hits from Tubeway Army and Gary Numan confirmed the label's status in the industry.[4] Beggars Banquet later released music by Bauhaus, Biffy Clyro, Buffalo Tom, The Charlatans, The Cult, The Fall, The Go-Betweens, The National, St. Vincent and Tindersticks.
In August 2002, it was announced that Beggars Group had purchased a 50% stake in Matador Records.[5] In July 2007, it was reported that Beggars had purchased Rough Trade Records.[6]
The company owned a stake in Spotify, but sold their shares in 2019. Although the full amount received was never disclosed, half of the earnings were distributed amongst the label's artists, while £8m went to Martin Mills.[7]
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Ownership
The Beggars Group has been in business for over forty years and is owned and managed by Martin Mills. As of 2017, the main labels that form the group are 4AD, Matador Records,[3] Rough Trade Records,[8] XL Recordings,[9] and Young. The company owns 4AD (the label itself a Beggars Banquet imprint) outright, and retains a 50% stake in each of the others. Older labels within the group, including Beggars Banquet itself and Too Pure, are now part of Beggars Arkive, which is the catalogue department for its labels that are no longer active.[10]
XL is a major owner of the Rough Trade Shops chain, where Beggars directors own shares and oversee control.[11]
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Independence
With a worldwide network in place, Beggars Group has three offices in London, two of which also house recording studios, two in the US in New York and Los Angeles, and a dedicated office in every major territory.[clarification needed][citation needed] The company has been active in promoting the collective interests of the sector, being a founding member of the AIM (UK) in 1999, IMPALA (Europe) in 2000, A2IM (USA) in 2005, and most recently the Worldwide Independent Network, which represent the independent music industry in each locality.[citation needed] The Beggars Group are also active members of Merlin, the independents’ rights licensing body.[citation needed]
Current group artists
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The main labels that constitute the Beggars Group are home to a range of artists, including:[12]
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References
External links
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