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3 July, 2004

Busy with his money games

Interviewed by the Sunday Herald at the end of May, Ian Anderson gave some insight into the financial side of Jethro Tull.

The article is primarily concerned with another of his well-known interests, salmon farming (not salmon fishing, as is typically misquoted by journalists with preconceptions of how an aging rock star should spend his time), mentioning that he has recently reduced his involvement in the industry.  His revenue from salmon farming and processing fell from £2.4 million to £278,382 over the year.  However, as the final third of the piece discusses, touring and recording with Jethro Tull (and 'solo') has always been his priority.

The activities account for the bulk of the £1.8m gross profit in the Ian Anderson Group accounts. He and his wife Shona, the sole shareholders and directors, shared a £500,000 dividend and emoluments, excluding pension contributions, of £850,954. A modest pre-tax loss of £5806 was booked for the year but the balance sheet shows shareholders’ funds stand at £3.2m. Income included a payment of £209,517 following one of the rock group’s regular checks on its flow of royalties.

Anderson says: “The likes of Jethro Tull are going to get around £2m a year in royalties and now and again you may audit your record company and get another payment on top. Whenever we do an audit on record companies it seems that they owe us money, not the other way round.

“While we have seen a drop in record royalty income of 20% in the last five years, the touring business has held up. Allowing for inflation we are just about on an even keel, as we have been in the last 20 years.”

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