4 days ago
- Business
- Irish Independent
Trinity approves two-year loan repayment hiatus for the acting academy that helped launch Paul Mescal's career
The confirmation of the loan hiatus to the end of the 2027 academic year for The Lir Academy comes as it confirmed it has received a record 600 applications for this year's 16-place bachelor of acting programme where Mescal learnt his acting craft.
Asked if The Lir has enjoyed a 'Paul Mescal dividend' in terms of numbers applying, The Lir spokeswoman said: 'We did see a surge in numbers after the success of Normal People. This coincided with Brexit and the point at which we became the only English-speaking conservatoire in the EU.
'The continued success of Paul Mescal – along with numerous other graduates – has increased the awareness of our programmes and supported the trend of growth in application numbers.'
In selecting the chosen few for the 16 places, The Lir stages auditions in Dublin or online over Zoom for the first two rounds for overseas applicants.
The loan hiatus is confirmed in recently published TCD finance committee minutes of its April meeting.
At the end of September 2023, The Lir firm, Trinity College Dublin Academy of Dramatic Art Co Ltd, owed €496,554 to the college.
The firm recorded an income of €2.908m in 2023 and saw a modest surplus of €16,357.
TCD provost Dr Linda Doyle is chairwoman of the finance committee and the minutes record that The Lir CEO Gemma Bodinetz highlighted the academy's strong financial performance, including projected fee income in 2024/25 and future increases.
Commenting on the TCD approval of Lir's loan hiatus application, Ms Bodinetz said: 'The Lir Academy has an excellent record of financial performance and we recognise the act of faith that Trinity College Dublin has placed in us by agreeing to our request.
'The decision to request the hiatus was taken in order to allow for additional financial flexibility so that we can further realise our ambition to achieve significant strategic aims.
'Our intention is to invest the retained surpluses into staff salary increases, programme resources and to grow new revenue streams. This will mean we will be in an even more robust position to resume payments in 2027.'
