Belfast Telegraph

Revealed: How much profits did Van Morrison's firm make?

By Gordon Deegan

Belfast music legend Sir Van Morrison is doing his own Moondance after accumulated profits at his music firm last year rocketed more than 12-fold.

The stellar performance enjoyed by Morrison's Exile Productions Ltd coincided with the Belfast man playing a number of gigs to celebrate his 70th birthday two years ago.

Long-time devotees of the celebrated singer-songwriter converged on the tree-lined Cyprus Avenue in Belfast - immortalised by Morrison in song - in August 2015.

The new accounts filed by Exile Productions to the Companies House in the UK show that the firm generated profits of £2.6m for the year.

The accounts show that the firm's accumulated profits increased by £2.4m, going from £216,853 to £2.62m in the 12 months to the end of last April.

This was a happy reversal in fortunes for the firm where profits dived the previous year, going from £1.62m to £216,853.

In the 12 months to the end of last April, the firm's cash pile increased from £367,405 to £2.55m, while the money owed to the firm by debtors increased from £2m to £3.29m.

The massive profits enjoyed by the firm last year also coincided with Morrison selling the rights of 33 of his albums to Sony.

No price was disclosed for the deal, which didn't include the rights to two of Morrison's most popular albums, Astral Weeks and Moondance, as they remained with Warner Bros, who originally released the titles.

Separate figures from trade industry journal Pollstar show that Morrison's box office for a sold-out gig at the 3Arena in Dublin totalled €671,334 in November 2015.

The box office is shared between venue, artist and promoter after all other costs are paid.

The abridged accounts for the musician's company don't reveal the revenues recorded by the firm during the year.

Sir Van's creative energy shows no sign of slowing down as he released his 36th studio album - Keep Me Singing - last September.

Best known for songs like Brown Eyed Girl, Sweet Thing, Baby Please Don't Go and Have I Told You Lately, Morrison's Astral Weeks is widely regarded as one of the best albums of all time. The intensely private Morrison has received widespread acclaim over his long career including six Grammy Awards, a Brit Award for Outstanding Contribution to Music.

He has been inducted into both the Rock 'n' Roll Hall of Fame and the Songwriters Hall of Fame.

Belfast Telegraph


From Belfast Telegraph