Hitmaker Max Martin’s Swedish company increased its annual revenues in 2016 by 10% to 435.9m SEK ($51m).
The pop songwriter, real name Martin Sandberg, produced and/or co-wrote hits in the year including Ariana Grande’s Side To Side, Pink’s Just Like Fire and Justin Timberlake’s Can’t Stop The Feeling!
However, the majority of his new revenues last year were probably generated by hits created in 2015, on which royalties were paid through over the subsequent 12 months.
Martin contributed to 2015 tracks such as Adele’s Send My Love (To Your New Lover), Ellie Goulding’s Love Me Like You Do, The Weeknd’s Can’t Feel My Face and Demi Lovato’s Cool For The Summer.
According to Swedish newspaper Expressen, Martin’s company posted a net profit of 155.1m SEK ($18m) – up 22% year-on-year.
Martin’s company currently owns assets worth 603m SEK ($70m), of which over 200m SEK ($23m) is tied up in property – including an exclusive townhouse in Östermalm in central Stockholm.
According to business magazine Veckans Affärer, Martin is worth approximately 2.1bn SEK ($245m) including all assets.
Martin’s writing partner Karl Johan Schuster – aka Shellback – also owns a Swedish company.
His business posted more than 90m SEK ($10.5m) in 2016, with a net profit of just over 81m SEK ($9.5m).
All SEK to USD conversions made at average annual 2016 rate with no interbank charges considered.Music Business Worldwide
No comments:
Post a Comment