Now That’s What I Call Music has reported declining revenues for the year to March 31, 2019.
Turnover decreased 34.8% year-on-year to £19.3 million. That’s pretty much in line with the 36.8% decline in the overall compilation market for the year to date.
Profits are stable at £3m for the year, shared between Sony Music and Universal Music.
Now’s brand identity appears to have helped the series maintain its No.1 chart position in a challenging market.
The latest results cover the period when the 100th edition of Now was the subject of a media blitz. Released in summer 2018, Now 100 has sales to date of 491,304, according to the Official Charts Company. That’s ahead of Now 99 (399,125) but some way short of Now 98 (722,621).
Now 103, the latest album, has sales to date of 183,371, compared to 381,619 for Now 101 and 247,324 for Now 102.
Streams don’t register for the compilations on the OCC sales chart. But Now That’s What I Call Music has embraced streaming with a £3.99 mobile streaming subscription.
In its strategic report, the compilations company said: “The members intend to take every opportunity to utilise the Now brand equity to enhance the business. [It is] currently showing encouraging signs of growth is the Now Music App, a mid-tier streaming service tailored towards a more casual music consumer. Continued development in growth is of key strategic focus.”
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