Business Irish

Saturday 7 December 2019

Geldof-backed TV firm behind 'Survivor' pays €3m dividend

Bob Geldof
Bob Geldof

Gordon Deegan

Bob Geldof last year shared in a fresh £2.25m (€3m) windfall in dividends from the TV firm behind the successful reality TV show, Survivor.

The Dubliner may not generate significant income from his singing career anymore, but his shareholding in Castaway Television Productions Ltd has proven a very shrewd investment and is an impressive cash cow for the 64-year old producing dividends on an annual basis.

The UK-based company is the firm behind the 'Survivor' reality TV series that has been sold across the world and viewed by tens of millions of people.

New accounts show that pre-tax profits at Castaway Productions Ltd last year increased by 49% to £4.7m as revenues increased by 37% to £9.49m

The series first screened in 1997, has been on air continuously since, and in the US, there have been 31 seasons of Survivor broadcast with the 32nd to be broadcast next month.

'Sir Bob' received £750,000 (€1m) in dividends in the 12 months to the end of March last.

This arises from the charismatic political activist, musician and businessman sharing a one third dividend of the £2.25m paid out.

The returns show that between 2015 to 2010, the businessman received £5.65million (€7.69m) in dividends through his one third share from the £16.95m paid out in dividends over those six years by Castaway.

The figures show that the largest proportion of business is generated in the US where the firm recorded 79% of revenues through £7.49m in income.

The directors state that they are satisfied with the performance of the company.

The jump in the company's revenues was last year driven by an increase in sales in the US where revenues increased by 29% to £7.49m.

Sales in the EU accounted for £1.69m in revenues with sales in non-EU countries totalling £306,519.

Survivor has screened across the globe including shows in Mexico, Holland, Norway, Pakistan, Portugal, Russia, Poland, Slovakia, Spain, Sweden, Turkey and Ukraine.

The firm's cash pile increased from £2.4m to £2.57m

According to the directors' report, the firm only has one format which places reliance on a single stream income stream and the company

is looking to mitigate the risks. Geldof first rose to prominence as singer of the Boomtown Rats in the 1970s and their best known hits included 'I Don't Like Mondays' and 'Rat trap'.

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