Profits and revenues slump at Riverdance company due to absence of US tour
New accounts filed by Abhann Productions Ltd show that post tax profits reduced from €1.9m in 2023 to €247,065 in the 12 months to the end of June last.
The drop in post tax profits followed revenues declining by €9m or 54% from €16.7m or €7.7m.
Commenting on the financial performance today, co-founder of Riverdance, John McColgan said: "The main reason for the difference between the two years is because Riverdance did not tour the USA in the year ended 30 June 24".
Mr McColgan said that Riverdance "had another thriving year for the year ended 30 June 2024".
"In this period Riverdance was in the Gaiety in Dublin for the Summer months with another very successful run. Also in the year Riverdance toured China, Australia and Japan and achieved excellent attendances and standing ovations in all these locations," he said.
It is now 31 years since Riverdance made its debut at the Eurovision Song Contest as the interval act during the 1994 contest in Dublin and Riverdance is this year celebrating its 30th anniversary as a global entertainment touring phenomenon.
Revenues are expected to increase sharply in the current year as Riverdance is currently touring the USA and Canada in a tour that commenced in January and is to end in June of this year.
Riverdance is scheduled for another USA tour from January to June 2026 and also plans for a China tour in this period.
In the current financial year, Mr McColgan said that Riverdance was in the Gaiety from June to September 2024, Taiwan and Europe last Autumn and currently in the USA to June.
"In March of this year, Riverdance performed again in the Kennedy Centre in Washington and Radio City in New York to name a few locations and received standing ovations every night," he said.
The strong profits of 2024, 2023 and 2022 follow Covid-19 related losses of €1.097m in 2021 and €747,465 in 2020 as a result of the pandemic shutting down the show from March 2020 to September 2021.
Moya Doherty is also a co-founder and sits on the board with Mr McColgan and David Orr.
Aggregate pay to directors decreased by 31% from €1.8m to €1.24m.
The amount owed by the company to the directors last year reduced sharply. Mr McColgan was owed €8,680 compared to €417,182 12 months prior while Ms Doherty was owed €161,006 compared to €594,891 at the end of June 2023.
Riverdance usually has two productions touring simultaneously each employing 50 to 55 in cast and crew.
The firm's cash funds decreased from €5.34m to €4.17m. Accumulated profits at the end of June last stood at €4.18m.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
RTÉ News
10 hours ago
- RTÉ News
Aubrey Plaza details 'daily struggle' after death of her husband Jeff Baena
Aubrey Plaza has said it is a "daily struggle" following the death of her estranged husband Jeff Baena. The filmmaker died in January at the age of 47, with the Los Angeles County medical examiner concluding he took his own life. The director and screenwriter was found at a home close to the Fern Dell Nature Trail near the Hollywood Hills. Plaza discussed dealing with grief during an appearance on her Parks and Recreation co-star Amy Poehler's podcast. She said: "Right in this very, very present moment, I feel happy to be with you. "Overall, I'm here and I'm functioning. I feel really grateful to be moving through the world. I think I'm ok, but it's like a daily struggle, obviously." She told Poehler's Good Hang podcast that she compared her grief to the 2025 movie The Gorge, which stars Miles Teller and Anya Taylor-Joy. She said: "This is a really dumb analogy and it was kind of a joke at a certain point, but I actually mean it. Did you see that movie The Gorge? In the movie, there's a cliff on one side and there's a cliff on the other side, then there's a gorge in between and it's filled with all these monster people that are trying to get them. "I swear, when I watched it, I was like that feels like what my grief is like … or what grief could be like. "At all times, there's like a giant ocean of awfulness, that's right there and I can see it. "Sometimes I just want to dive into it, and just like be in it. Then sometimes I just look at it, and sometimes I try to get away from it. But, it's always there." Plaza separated from Baena in September 2024, according to a report by the Los Angeles County Coroner Investigator. The couple had been in a relationship since around 2011 and they married a decade later. Plaza told The Ellen DeGeneres Show in December 2021 that they made the decision to tie the knot after getting "a little bored one night" during the Covid pandemic. The pair worked together on the 2014 horror film Life After Beth and 2017 historical comedy The Little Hours. Plaza is best known for her role as April in the workplace comedy Parks and Recreation, in which Poehler played politician Leslie Knope. She is also famous for her role in the second series of The White Lotus and the Marvel series Agatha All Along. She has also starred in Hollywood films including Megalopolis, My Old Ass, Ingrid Goes West, Dirty Grandpa and Emily The Criminal. Baena wrote 2020 thriller Horse Girl, starring Alison Brie, and 2022 dark comedy Spin Me Round, both of which he also directed, as well as 2004 comedy I Heart Huckabees, starring Jude Law, Jason Schwartzman, Dustin Hoffman and Mark Wahlberg. He also created the anthology comedy series Cinema Toast, which had an episode directed by Plaza and another starring Community actress Alison Brie.
RTÉ News
17 hours ago
- RTÉ News
DoorDash's deal for Deliveroo to be reviewed under EU's simplified merger procedure
The planned $3.9 billion takeover of Deliveroo by US meal delivery firm DoorDash will be reviewed under the European Union's simplified merger procedure, EU Commission documents showed today. The food delivery app companies reached a deal valuing Deliveroo at about £2.9 billion in May. The fact that the EU regulator is reviewing the merger under its simplified procedure usually means it does not see any competition concerns and that approval is probable. Deliveroo's shares have weakened significantly since its 2021 debut as demand for online food delivery stagnated after the Covid pandemic.
Sunday World
a day ago
- Sunday World
Michael Flatley, Peter Crouch and Malala Yousafzai among crowd at Oasis in Croke Park
Vogue Williams and Carl Mullan were among the crowd on the first night, while Tánaiste Simon Harris also secured a ticket. Malala Yousafzai, the youngest ever Nobel Prize laureate, was among the thousands who attended Oasis at Croke Park last night, with the activist wearing one of the band's bucket hats as she danced in the Cusack stand. She received the Nobel Prize at the age of 17, two years after she was shot by the Taliban on her way home from school due to her advocacy for young girls. Malala Yousafzai at Oasis in Croke Park last night The 28-year-old secured a ticket to the Oasis reunion tour in Dublin alongside her husband Asser Malik, who joined her to dance to Roll with It in a video shared to Instagram. Oasis returned to Ireland for the first time since 2009 this weekend, with fans praising the sell-out tour on social media in the aftermath. Well-known faces like Vogue Williams and Carl Mullan were among the crowd on the first night, while Tánaiste Simon Harris secured a ticket to the Sunday night gig. The Fine Gael leader also wore an Oasis bucket hat as he thanked the band for an 'incredible gig' and 'magical atmosphere' last night. Fine Gael MEP Seán Kelly, who is considering launching a bid to become the party's presidential candidate, had attended the night before. Riverdance's Michael Flatley, who has also signalled his interest in entering the race for the Áras, was in the crowd at Croke Park this weekend too. He shared a picture with their mother Peggy, who is from Charlestown in Co Mayo, as he thanked the Gallagher brothers for a 'great night'. Former England international Peter Crouch also posed for a picture with Flatley alongside his wife Abbey Clancy, while TV personalities Brian Dowling and Arthur Gourounlian also secured tickets to Oasis. Other well-known faces among the thousands at Croke Park this weekend included Eric Roberts, Anna Daly, Glenda Gilson, Charlene Murphy and and Pippa O'Connor. Michael Flatley and Peggy Gallagher. Today's News in 90 Seconds - 18th August Sharing a video of the crowd during Roll with It on the first night of the band's reunion tour in Dublin, RTÉ 2FM host Carl Mullan said: 'Of all the songs that made me cry last night, it was this. Just seeing the place absolutely heaving and having such craic was unbelievable. "Croke Park was shaking (no joke, going to get a drink and you could feel the stand bouncing, not sure if this always happens at gigs but it felt mental). "Enjoy if you're going tonight, the best atmosphere I've ever experienced at Croke Park for a gig.'
