Warner Bros Studio Tour London, the Making of Harry Potter, recorded an unprecedented pre-tax profit of £100.8m for 2023.
- The attraction saw its profits soar from the previous £79.7m, as demand for the tour continues to rise.
- Revenue grew to £258.4m, while workforce expanded from 622 to 724 to manage increasing visitor numbers.
- Located in Leavesden, the studio houses original Harry Potter costumes, sets, and behind-the-scenes displays.
- Operating profits leapt from £126.9m to £173.5m, thanks to strategic cost efficiency measures.
Warner Bros Studio Tour London, the Making of Harry Potter, emerged as a major financial success in 2023, achieving a remarkable pre-tax profit of £100.8m. This figure represents a significant increase from the previous year’s profit of £79.7m, underscoring the growing appeal of this iconic tourist attraction. The information, drawn from recently filed accounts with Companies House, highlights the tour’s robust financial performance.
Revenue for the year demonstrated a positive trajectory, climbing from £247.1m to £258.4m. To accommodate the heightened demand, the company broadened its workforce significantly, increasing from 622 employees to 724 over the year. This workforce expansion underscores the tour’s need for additional staff to efficiently serve the expanding visitor base.
The Warner Bros Studio Tour, located in Leavesden, Hertfordshire, offers an immersive walk-through experience that showcases enduring elements from the Harry Potter films. The tour features original costumes, props, and sets, providing visitors with a visual and educational insight into the film-making process. It’s a permanent exhibition owned by the US-based film studio’s tours division since its opening in 2012.
The financial success of the tour is further reflected in the company’s operating profits, which increased from £126.9m to an impressive £173.5m. These gains are attributed to a concerted effort to implement cost-saving measures across the business. Additionally, the firm’s net current assets saw a substantial rise to £186.1m from £73m, partly due to inventory sales to affiliated companies and increased cash deposits within group operations.
In a related development, the theatre responsible for the West End’s ‘Harry Potter and the Cursed Child’ has successfully surpassed its pre-pandemic revenue marks. The theatre noted a 10 per cent revenue increase, reaching nearly £33m by the end of October 2023, even amid a minor downturn in pre-tax profits.
The financial achievements of the Warner Bros Harry Potter Studio Tour and related theatre productions exemplify robust growth and strategic efficiency in action.
