The creators of popular TV shows like Taskmaster have enjoyed a significant pay day as profits at their production company continue to climb.
The London-based Tiverton 2 group, which owns several TV production companies including Avalon Entertainment, issued a £12m dividend in October last year, as reported by City AM.
This followed the company’s pre-tax profit leap from £7.7m to £10.3m in the 12 months leading up to 30 June, 2024, compared to the previous year.
The firm, also responsible for shows like Not Going Out and Catastrophe, had previously issued dividends of £9m in July 2023 and £3.3m in April 2024.
Recent accounts filed with Companies House reveal that the company’s turnover fell from £99.1m to £94.7m over the year.
The makers of Taskmaster attributed this 4% decrease in turnover to the completion of several scripted TV projects and a greater emphasis on development opportunities.
However, they noted an increase in profit due to higher margin revenue streams and reduced overheads in line with lower revenues.
Avalon has produced other TV shows such as The Russell Howard Hour, TV Burp, and Starstruck, as well as podcasts like Shagged.
Married. Annoyed with Chris and Rosie Ramsey and Jerry Springer: The Opera.
Avalon Entertainment was co-founded by Jon Thoday, who also serves as its managing director.
Avalon, launched back in the halcyon days of 1989, has expanded its reach, proudly setting up shop in London, Los Angeles, and New York.
The board’s collective voice rang through a statement asserting: “The Tiverton 2 group has continued the successful strategy of developing and maximising strong brands, achieved by: working with some of the best creative talent in the entertainment business; nurturing and developing new ideas and properties both on-screen and on-stage; delivering a strong television production and live events schedule; retaining rights in TV programming; and by having a highly focused distribution team operating in the secondary TV market.”
They underscored their calculated boldness in re-ploughing profits for artistic purposes, stating: “This strategy requires a significant level of reinvestment of profits back into the creative process.”
Equipped with wisdom and oversight, they added: “The directors feel confident that the financial risks thereof are managed appropriately.”
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