Friday 26 December 2014

Riverdance has earned Moya and John €75m

Gordon Deegan

Published 24/05/2014 | 13:12

Photos released 02/20/2103
A scene from Heartbeat of Home, the electrifying new music and dance spectacular from the producers of Riverdance. Dancer Emma Warren pictured with the band. Heartbeat of Home will premiere at the Bord Gáis Energy Theatre, Dublin tonight Wed 2 Oct for a limited run until 12 Oct. Produced by Moya Doherty, conceived and directed by John McColgan, with lyrics and narrative by award-winning Irish writer Joseph OConnor and choreography by David Bolger. Heartbeat of Home features the dynamic, vibrant components of traditional Irish, Latin and Afro-Cuban music and dance. The world-class cast of thirty-nine includes a ten-piece band creating a new and electrifying sound written by award-winning, Golden-Globe-nominated composer Brian Byrne. Tickets on sale www.ticketmaster.ie 0818 719300  www.heartbeatofhome.com    Pic Jim Byrne
A scene from Heartbeat of Home

The creators of Riverdance have shared a pay bonanza of €75m since the turn of the century.

The show, which grew from a seven-minute interval performance at the 1994 Eurovision Song Contest, is celebrating its 20th anniversary this year and has been seen by more than 23 million people over the past two decades.

New accounts just filed by John McColgan’s and Moya Doherty’s Abhann Productions Ltd with the Companies Office during the Companies Office show that pay to directors, including pension contributions, in 2012 totalled €1.33m.

Abhann is the management firm for the Riverdance show, and the firm’s directors’ pay contributed to the firm sustaining a pre-tax loss of €294,201 in the 12 months to the end of June 30, 2012.

An examination of Abhann Productions Ltd’s accounts between 2000 and 2012 shows that McColgan and Dogherty shared directors’ pay, including pension contributions, totalling €75m, with €73.76 million paid between 2000 and 2011.

Three other people were directors with McColgan and Doherty over that period, but the bulk of the directors’ pay went to the married couple, who each own 50pc of the business.

The pair have been richly rewarded for their risk-taking – short of invertors before the first Riverdance show was put on in February 1995, they put their own home on the line.

After John Egan stepped down as director of Abhann in September 2012, McColgan and Doherty are now the only directors of the firm.

Riverdance marking its 20th anniversary by playing in Copenhagen this weekend before touring Sweden, Norway, Finland, Russia, Switzerland and the UK.

(The Herald)

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