Promoter profitable despite fall in fans

Performers Paul Simon and Olly Murs contributed to Dublin-based promoters, Aiken Promotions maintaining profitability last year.

The promoter — currently riding high on the back of Bruce Springsteen’s string of Irish concerts — maintained profitability in spite of the numbers attending its events in 2012 falling.

Figures provided by US trade industry journal, Pollstar show that the numbers attending Aiken Promotions gigs last year fell by 3% or 13,640 from 365,836 to 352,196.

Aiken Promotions is unlimited and not required to file accounts to the Companies Office.

However, an auditor’s report recently filed by the firm shows it recorded a profit in the 12 months to the end of Sept 2012 and this followed the firm recording a profit in 2011.

The firm’s UK arm, Aiken Promotions Ltd, is required to file accounts and its most recently filed accounts with Companies House in the UK show its cash pile rose from £3.8m to £4.27m in the 12 months to the end of Jan 31 last year.

The figures show the firm’s accumulated profits declined from £1.21m to £1m.

The 140,000 fans attending the Springsteen concerts — accounting for 40% of the total number that attended Aiken events last year in Ireland — are expected to add significantly to the firm’s coffers this year.

The gross box office receipts on the Springsteen gigs are estimated to be around €13m, split between artist, venue and promoter.

Figures provided by Pollstar show the Aiken Promotions gig for Olly Murs at the O2 last year recorded gross receipts of €353,148.