XL Recordings

XL Recordings started in 1989 when Tim Palmer and Nick Halkes launched it as an offshoot of the Beggars Banquet group. From the beginning, it carved a niche in dance and electronic music, releasing early UK rave anthems. In 1996, Richard Russell took over as manager and later co-owner, steering the label toward a broader, more eclectic roster. Under Russell, XL became known for its carefully curated output, releasing only about six albums per year on average. This selective approach allowed the label to maintain high quality across genres, from indie rock to electronic to hip-hop.

The label operates globally through the Beggars Group network, which includes other imprints like 4AD and Rough Trade. XL's reputation for discovering and nurturing unique talent has made it a respected force in independent music, with a track record that includes albums by The Prodigy, M.I.A., and Adele, among others. In 2023, XL posted an operating profit of £10.32 million on turnover of £64.12 million, despite releasing only eight new albums. About 83% of that turnover came from outside the UK. [edit]