Tuesday 17 July 2018

Irish arm of global pornography website empire has €357m of revenue

Pornhub. Stock image
Pornhub. Stock image
Stock picture

Gordon Deegan

A Dublin-based firm which collects subscriptions from premium users of a global adult website empire has clocked up revenues of $427.17m (€356.79m) over two years.

MG Billing Ireland Ltd is a subsidiary of Canadian firm Mindgeek that counts Pornhub, Youporn, Redtube and tube8 as some of its porn sites and clocked up average revenues of $585,000 each day in 2015 and 2014.

Mindgeek also operates gay sites including Sean Cody, Bromo and Reality Dudes.

New accounts for the Mindgeek billing company, MG Billing Ireland Ltd, show that pre-tax profits increased by 8.5pc to $3.389m in 2015. Revenues jumped from $193.38m in 2014 to $233.79m in 2015.

The principal activity of MG Billing is the resale of membership subscriptions for certain websites operated by companies under common control.

MG Billing Ireland was one of a network of Mindgeek firms to set up here in 2013. The other companies are involved in operating websites and app sales.

However, the MG Billing Ireland Ltd accounts disclose that in February of this year, the firm relocated its control management and control functions from Ireland.

Another Mindgeek subsidiary to also file new accounts in recent days is MG Content RT Ltd which operates Mindgeek's Redtube porn site.

The company recorded revenues of $27m in 2015 and recorded a pre-tax loss of $7.37m.

The directors state that they anticipate future profitability of Redtube operations.

Asked about MG Billing's move to relocate the firm's function from Ireland, a spokeswoman for Mindgeek said: "As a privately held company, we do not disclose information regarding our business operations."

Irish Independent

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