The Warner Bros Studio Tour London – The Making of Harry Potter has recorded remarkable financial performance, achieving a pre-tax profit exceeding £100 million for 2023.
- The tour has significantly increased its workforce, adding over 100 new jobs to meet growing visitor demand.
- Revenue growth was observed with the company’s turnover rising from £247.1 million to £258.4 million within a year.
- Net current assets of the studio surged to £186.1 million, marking a substantial increase from the previous year.
- Theatre group behind ‘Harry Potter and the Cursed Child’ also enjoyed financial success, surpassing pre-pandemic revenue.
Warner Bros Studio Tour London, known for showcasing the iconic Harry Potter sets, costumes, and props, reported an impressive pre-tax profit of £100.8 million in 2023. This represents a notable increase from the £79.7 million profit recorded in the prior year. As demand for the tour has risen post-pandemic, the company has responded by increasing its workforce from 622 to 724 employees, reflecting its commitment to accommodating the influx of visitors.
The tour’s turnover demonstrated healthy growth, climbing from £247.1 million in the previous year to £258.4 million, indicating strong consumer interest and effective marketing strategies. This financial robustness extends to its net current assets, which reached £186.1 million, a significant leap from the £73 million reported the year before. This growth was partly driven by internal inventory sales and increased cash deposits.
In addition to operating the studio tour, the company also manages related merchandising and studio facilities, indicating a diversified revenue stream. The company’s success aligns with its strategy to enhance cost efficiencies across various business segments, underpinning its robust performance during the fiscal year.
The year 2023 also marked a positive trajectory for the theatre company running ‘Harry Potter and the Cursed Child’. It reported revenue reaching nearly £33 million by the end of October 2023, surpassing pre-pandemic levels and highlighting a 10% increase compared to 2019. Although there was a slight decrease in pre-tax profits from £8.5 million to £7.5 million, the enterprise remains profitably sustained by robust sales figures.
The strategic expansions and increased demand affirm the strong market position of the Harry Potter studio tour and its affiliated theatre group.
