Cartoon Saloon taps Oscar nomination successes to lift profits

The studio posted a net profit of €1.18m for 2020, up from €452,161 in 2019

The studio landed its fifth Oscar nomination this year for its hand-drawn film, 'Wolfwalkers'.

Cartoon Saloon’s upcoming Netflix feature, My Father’s Dragon has already helped boost the profits at the Kilkenny-based animation studio. 

Cartoon Saloon Ltd posted a net profit of €1.18m for 2020, up from €452,161 in 2019. 

And the business continued to grow this year, managing director Gerry Shirren said on Friday, as it hired more staff. It now employs 176 people, up from 142 people at the end of last year. 

The value of services provided by Cartoon Saloon Ltd to connected firms totalled €9.2m last year. The bulk of the work, at €5.82m, relates to Cartoon Saloon’s work on My Father’s Dragon for Netflix.

The studio landed its fifth Oscar nomination this year for its hand-drawn film, Wolfwalkers, which is currently available on Apple+ TV. It got a further boost last month when WarnerMedia Kids & Family greenlit Silly Sundays for its new preschool schedules on HBO Max and Cartoon Network. 

“ WolfWalkers continued to release around the world this year and will be part of a trilogy collector's blu-ray box-set together with Song of the Sea and The Secret of Kells, with lots of extras on sale next week and the film is a nominee at the European Film Awards being held on Saturday evening in Berlin,” Mr Shirren said.

According to the accounts, accumulated profits totalled €3.43m and its cash funds increased sharply to almost €2.6m. The studio previously received Oscar nominations for Late Afternoon, The Breadwinner, Song of the Sea, and The Secret of Kells.