Shows from acts such as Olivia Rodrigo, Jason Derulo and Girls Aloud helped to boost profits at Dublin’s 3Arena to €18.2 million this past year.
More than one million people attended events at the 13,000-capacity arena during 2024 as the venue, formerly the Point Depot, held 126 events.
This year, the arena is set to host stars such as Kneecap, Ed Sheeran and Tom Odell.
The annual financial statements of the company behind the 3Arena, Amphitheatre Ireland Limited, said the arena “continued to perform strongly” during 2024 on the back of attracting big star names and “large audience numbers”.
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The arena had made €17 million in pretax profit in 2023, from a turnover of €36.2 million.
Revenue grew slightly last year to €36.5 million, but its operating costs decreased significantly. Its retained earnings grew from €58.8 million to €69.4 million.
The directors, in a note with the accounts, credited the increase in profits to growth in turnover and improved operational efficiency during the year.
The arena, which is among the busiest music arenas in the world, is owned by the Apollo Leisure Group, a subsidiary of US entertainment giant Live Nation Entertainment.
[ Dublin’s 3Arena posts box-office revenue of €71mOpens in new window ]
Amphitheatre Ireland Limited grew its employee headcount to 47 and staff costs stood at €2.89 million last year, up from €2.64 million in 2023. It paid €2.47 million in corporate profit tax.
The arena operator’s Irish-based parent company, Live Nation Ireland Holdings Limited, saw pretax profits halve from €10.7 million in 2023 to €5.3 million in 2024, even as revenue climbed by nearly €1 million to €5.5 million.
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Live Nation Ireland Holdings Limited’s directors said this was due to lower dividends received from the company behind the 3Arena – which paid a dividend of €7.73 million in 2024, down from €14.5 million the previous year.
Its accounts note that a €10 million dividend was received after the completion of its financial year.
