XL Recordings records a £17m windfall on the back of Adele’s 21.
The trend-setting label’s bank balance went from £3m to £32m during the year. The profits are due in large part to Adele’s record-breaking 21, which spent 78 consecutive weeks in the top 10 of the Billboard charts, topping the charts in more than 30 countries.
For his efforts, XL co-owner Richard Russell was paid a hefty £8.5m dividend last year. His partner, Martin Mills, received a similar amount through XL-parent Beggars Group.