Adele record label on song as profits surge tenfold

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The Independent Online

Adele's Midas touch continues to benefit her record label XL Recordings, which has reported a tenfold increase in annual profits to £41.7m on the strength of her record-breaking second album 21.

XL paid an £8.5m divided to the label's founder and co-owner Richard Russell. Business partner Martin Mills, owner of Beggars Group, took a similar sum.

The album 21 has sent 78 consecutive weeks in the top 10 of the US charts. London-born Adele has another hit single with her theme song for the new James Bond film Skyfall, which went to number one on the iTunes chart within minutes of its release ten days ago.