Record half-year at Arista

Arista Records is on the road to another record-breaking year. The Clive Davis-led label topped $210 million in sales for the first six months of its fiscal year. The record half-year tally portends the label will top its 1995 fiscal tally of $400 million in sales, its best in its 21-year history.

While the label doesn’t break out profits, sources estimate profits for the pop/R&B-heavy Arista hover in the 18% range, or around $40 million.

Around $35 million in sales were generated by the label’s Nashville arm, led by Tim DuBois, likely resulting in profits of around $6 million.

Small stable

What makes the $210 million tally significant is that Davis and his contingent of savvy music makers and marketers earn the numbers with relatively few artists. The numbers cover the period from July 1 to Dec. 30, 1996.

The Music City tallies are also impressive, as the country music industry is in the midst of a leveling-off period exacerbated by increased competition among record labels and shrinking radio playlists.

Arista also posted an impressive 8.4% of the music market share for current albums, according to SoundScan’s year-end stats.

The label also closed the calendar year with sales just south of $400 million, mirroring what the company earned during its 1995 fiscal period of July 1 to June 30.

Leading the sales charge for the label were Whitney Houston’s “The Preacher’s Wife” soundtrack, which has sold more than 2 million copies in just five weeks of release; Toni Braxton’s “Secrets,” which is at 4 million copies and climbing; and Kenny G’s “The Moment,” which has sold more than 3 million copies.

The release slate in the next six months of Arista’s fiscal year includes discs from Aretha Franklin, Lisa Stansfield, Real McCoy, Sarah McLachlan and Pam Tillis, among others.

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Marketplace

    Leave a Reply

    No Comments

    Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

    Fill in your details below or click an icon to log in:

    WordPress.com Logo

    You are commenting using your WordPress.com account. Log Out / Change )

    Twitter picture

    You are commenting using your Twitter account. Log Out / Change )

    Facebook photo

    You are commenting using your Facebook account. Log Out / Change )

    Google+ photo

    You are commenting using your Google+ account. Log Out / Change )

    Connecting to %s

    More Music News from Variety

    Loading