Harry Potter maker’s TV arm surges back into the black as turnover triples
The television division of the production company behind the likes of the Harry Potter film franchise, the Paddington movies and box office smash Barbie surged back into the black in 2023.
Heyday Television has reported a pre-tax profit of £281,000 for its latest financial year after having posted a pre-tax loss of £752,000 in 2022.
According to newly-filed accounts with Companies House, the Hertfordshire-based firm’s turnover surged from £15.3m to £45.4m during the 12 months.
In the accounts, Heyday Television said the jump in its turnover was due to the partial delivery of a subscription video on demand title which was offset by higher costs which caused a lower gross margin percentage.
The firm’s gross margin fell from 17 per cent to 14 per cent in 2023 while its operating margin grew from minus three per cent to five per cent.
Heyday Television back in profit but loss widens at joint venture partner
Heyday Television is a joint venture between Heyday Films, which was founded in 1996 by producer David Heyman, and Universal International Studios.
Separate accounts for Universal International Studios, which is based in London, have revealed that the division’s turnover was slashed from £62.7m to £34.7m in 2023.
The results, which have also been recently filed with Companies House, show its pre-tax loss widened from £5.3m to £44.3m over the 12 months.
As well as Heyday Television, Universal International Studios’ subsidiaries include Working Title, UMSI Productions and Matchbox Pictures, which is based in Australia.
In July, City PM reported that the UK arm of Working Title, the production giant behind Lord of the Rings, Love Actually and British cult classics Hot Fuzz and Shaun of the Dead, weathered a challenging year after being “significantly impacted” by the Hollywood writers strike.
During 2023 the company’s turnover increased to £13m, up from £11.4m in the year before.
Its pre-tax profit also rose slightly to £528,000 during the 12 months from £496,000 in 2022.