Riverdance firm's revenues leap 19% to €16.7m

Last month, Riverdance performed a string of dates around Australia while next month, Riverdance returns to Dublin’s Gaiety Theatre. Gareth Chaney/ Collins Photos

The millions continued to roll in for the creators of Riverdance last year as operating profits increased by 5.5% to €2.13m.

It is now 30 years since Riverdance made its debut at the Eurovision Song Contest as the interval act during the 1994 contest in Dublin.

Now, new accounts show that across the world, Riverdance’s appeal in 2023 increased as revenues at Abhann Productions Ltd went up by 19% from €14.01m to €16.72m in the 12 months to the end of June last.

The 2023 revenues were boosted by Riverdance performing a 50-date tour of the US last year.

Underlining Riverdance’s global appeal, one Riverdance dancing troupe is performing in the Japanese city of Osaka this weekend after a nine-year gap from the country.

Last month, Riverdance performed a string of dates around Australia while next month Riverdance returns to Dublin’s Gaiety Theatre on June 5 for a run until September 8.

The new filings show that interest payments of €53,315 last year reduced profits to a pre-tax profit of €2.08m and the pre-tax profit was 3% up on the pre-tax profits of €2.01m in 2022.

The strong profits of 2023 and 2022 follow covid-19-related losses of €1.097 million in 2021 and €747,465 in 2020 as a result of the pandemic shutting down the show from March 2020 to September 2021.

The company continues to be led by founding directors, John McColgan and Moya Doherty, and in their report they state that they “are satisfied that the results for the year are consistent with expected levels”.

David Orr is also listed as a director and aggregate pay to directors increased by 34% from €1.35m to €1.8m.

Mr McColgan and Ms Doherty continued to plough money into the venture last year with the amount owed by the company to the couple last year increasing sharply from €154,157 to €1m.

Riverdance usually has two productions touring simultaneously, each employing 50 to 55 cast and crew.

Revenues were also last year boosted by Riverdance performing its 25th anniversary show at the Gaiety Theatre in Dublin.

Wages and salaries last year totalled €2.45m. The firm's cash funds increased sharply from €3.09m to €5.34m. Accumulated profits at the end of June last stood at €3.94m. The profit also took account of non-cash depreciation costs of €33,532.

Next year, Riverdance will embark on a special anniversary tour to celebrate its 30-year milestone coming to 30 venues across the UK. Towards the end of this year, Riverdance is due to perform dates in Germany and Belgium.