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LINN’S LEDGER LOOKING GOOD
Listed under: News
Published: Friday, December 10, 2010
Financial results seem to vindicate high-end manufacturer’s digital strategy
Said numbers include a pre-tax profit of £1,626,000, an operating profit of £1,675,000 (up by 38% compared to the previous 12-month period) and a turnover of 17,013,000. The company additionally spent a total of £1,523,408 on R&D investment, much of it apparently directed towards the company’s multi-room and DS (Digital Streamer) product lines – the latter of which now accounts for around 37% of Linn’s total Hi-Fi sales.
In recent years, Linn’s focus on digital music streaming solutions has seen it cease production of its once acclaimed CD-players in favour of developing the aforementioned range of DS components (the latest of which was released last month to accompany its overhauled Akurate system), but also address the content part of the equation via its music recording and retailing offshoot, Linn Records. The ‘Studio Master’ 24-bit FLAC and WMA files it offers for download now comprise approximately 80% of sales at its linnrecords.com online store, and the company was recently awarded with ‘Record Label of the Year’ at an annual awards ceremony organised by Gramophone magazine.
Commenting on the results, Linn MD, Gilad Tiefenbrun said: “The market has understood the seismic shift that digital represents and recognised that Linn has been a prime mover in delivering the technology that takes them into a new era of home entertainment. Our strategy of introducing the highest quality digital streaming, combined with the highest quality music downloads from our record label has paid off, and gives us a fantastic platform to position our brand and business for the future.”
Contact: +44 (0)141 307 7777
www.linn.co.uk
In recent years, Linn’s focus on digital music streaming solutions has seen it cease production of its once acclaimed CD-players in favour of developing the aforementioned range of DS components (the latest of which was released last month to accompany its overhauled Akurate system), but also address the content part of the equation via its music recording and retailing offshoot, Linn Records. The ‘Studio Master’ 24-bit FLAC and WMA files it offers for download now comprise approximately 80% of sales at its linnrecords.com online store, and the company was recently awarded with ‘Record Label of the Year’ at an annual awards ceremony organised by Gramophone magazine.
Commenting on the results, Linn MD, Gilad Tiefenbrun said: “The market has understood the seismic shift that digital represents and recognised that Linn has been a prime mover in delivering the technology that takes them into a new era of home entertainment. Our strategy of introducing the highest quality digital streaming, combined with the highest quality music downloads from our record label has paid off, and gives us a fantastic platform to position our brand and business for the future.”
Contact: +44 (0)141 307 7777
www.linn.co.uk
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