Sir Ridley Scott suffers £10m hit as firm remains in the red
Sir Ridley Scott’s production company remains in the red amid suffering a £10m hit to its turnover during its latest financial year, it has been revealed.
Ridley Scott Associates has posted a turnover of £19.9m for the 12 months to 30 September, 2024, new accounts filed with Companies House show.
The latest figure is down from the £29.7m it achieved in 2023.
The results have also revealed that the company’s pre-tax profit widened slightly from £2.6m to £2.7m over the same period.
Ridley Scott Associates is an advertising, creative and entertainment production company specialising in live action, stills photography, social media and unscripted TV and live events.
The company was founded in 1968 by Ridley Scott and his brother Tony.
It is still owned by Scott while its directors include his son, Luke, and daughter, Jordan.
‘We’ve taken a bold, long-term view’
A statement signed off by the board said: “The year 30 September, 2024, marked a period of external disruption and strategic repositioning.
“Following global strikes in Hollywood and broader market contraction, the group made deliberate moves to broaden its creative and commercial base, investing new new verticals designed to complement its established strengths in advertising and enhance long-term creative equity.
“Whilst this investment cycle contributed to a consolidated loss of £2.3m, it also enabled the company to transition toward a move flexible, multi-vertical studio model, capable of navigating volatility and unlocking new growth.”
Ridley Scott Associates added: “Despite external headwinds, RSA sustained high levels of creative output across its divisions.
“The group expanded its music video (Black Dog), photography, social content and branded entertainment units – positioning these as long-term growth drivers alongside its established core business.
“We also made continued investments in early-stage development, cross-border creative strategy and internal systems that enable scalability.”
The company also said: “We’ve taken a bold, long-term view of RSA’s future- investing heavily in diversifying our global capabilities while protecting the company’s core creative and commercial assets.
“These investments reflect our belief that the future belongs to companies that can find and tell the right stories in the right format – whether that’s feature film, non-scripted, audio, print or beyond.
“While this tragic expansion has come with short-term cost, it has laid the foundations for a more agile, globally-connected business built around story-first execution.”