Digital distributor The Orchard posted a profit in the final quarter of 2010, and expects to remain in the black for the forseeable future. That’s according to VP of product marketing Jaclyn Ranere, who tells Billboard that the company’s revenues rose 14.7% to $71.4 million in 2010. The Orchard is no longer a public company, so its financials will not be published as they used to be. The company says its digital revenues rose 10.5% in 2010, with iTunes accounting for 64% of its digital revenues, while Amazon and Spotify take a combined share of just under 11%. However, The Orchard says that in Sweden, Norway and Finland, iTunes was not its leading digital sales source last year, with Spain joining that group in Q4. More momentum for Spotify by the sounds of it.
The Orchard says it was profitable in Q4
April 12th, 2011 by Music Ally