XL Apologize in Advance For Adele-Related Profit Losses

Andrew Parks

By Andrew Parks

on 10.09.14 in News

XL put an end to speculation over the status of Adele‘s next album today, citing the lack of a new LP as the reason for a dip in the company’s overall sales at the tail end of 2014.

“There will not be a further new release by Adele during 2014 and consequently there will be a fall in XL’s turnover and profits,” XL wrote in a report to its regulators (via Rolling Stone). “Nevertheless, the directors are confident that by pursuing management policies…XL will continue to achieve success with other artists.”

The rumor mill around Adele’s sure-to-be-smash record started churning last May, when the singer tweeted, “Bye bye 25 … See you again later in the year.” Since then Beggars Group chairman Martin Mills denied reports that Adele was ready to release the tentatively titled 25 and tour.

What this all means for the music industry as a whole remains to be seen; all we know is that these numbers and Kendrick Lamar’s uncertainty over his album aren’t exactly promising.