DUBLIN (CelebrityAccess MediaWire) — Academy Music Group is having a solid year, with promoter Denis Desmond reporting that he expects revenue to top £8 million this year.
Desmond, the head of Irish promoter MCD, holds a 56pc share in Academy with promoter Live Nation. The company operates 19 venues across the U.K., including O2 Brixton Academy and the O2 at Shepherd's Bush Empire.
Filings made by the company show that earnings before interest, tax, depreciation, amortisation for 2012 were £6.8m, largely on the strength of artists such as The Pogues, Prodigy and Primal Scream. Revenue is down slightly from the previous year, to £36m in 2012, from £36.6m in 2011.
"They're good results and in the current climate, we are very happy with them," Mr Desmond told the Irish Examiner. "We are pleased and this year we are projecting earnings of £8m. The UK operation is doing particularly well, but there is always room for improvement." – CelebrityAccess Staff Writers