Monday 16 September 2019

On song: U2 and Kylie send 3Arena profits soaring

Star attraction: Kylie Minogue was one of the acts at the 3Arena. Photo: GLYN KIRK/AFP/Getty Images
Star attraction: Kylie Minogue was one of the acts at the 3Arena. Photo: GLYN KIRK/AFP/Getty Images

Gordon Deegan

Bumper crowds to see U2 and Kylie Minogue perform at the 3Arena in Dublin last year contributed to a rise in pre-tax profits at Live Nation firm, Apollo Leisure.

They increased by 22pc to £11.99m (€13.4m) on the back of revenues increasing by 12pc from £23.6m to £26.59m (€29.7m).

The UK-based Apollo Leisure Group (ALG) owns Amphitheatre Ireland Ltd, which operates the 3Arena in Dublin. The firm paid a dividend of £6.8m last year, and following receipt of a further dividend income from fixed-asset investments, a further dividend of £4m was paid out in March of this year.

According to ALG's directors' report, the group "has significant net assets and is profit making".

The number of shows staged last year increased from 105 to 116 and the number of concert-goers increased by 13.2pc from 818,218 to 926,062.

Detailed figures from trade industry journal 'Pollstar' show that U2's four gigs at the 3Arena generated $6.4m (€5.63m) at the box office last November.

The 3Arena was one of the 10 best-attended arenas in the world last year.

Taoiseach Leo Varadkar was one of the 7,606 Kylie fans to head to the 3Arena to see the singer's gig.

Kylie's ticket sales generated €666,204 at the box office.

Irish Independent

Editors Choice

Also in Entertainment

Back to top