The company behind the Game of Thrones studio tour has admitted it’s not growing as fast as it had hoped as it slipped further into the red.
The firm has reported a pre-tax loss of £17.4m for the year to 30 September, 2023, after also making a loss of £15.5m in the prior 12 months.
The tour, which is based in Banbridge, Northern Ireland, opened to the public in February 2022.
The Game of Thrones studio tour experienced a 30 per cent rise in visitor numbers in the year but admitted that the growth was slower than it had originally forecasted.
The tour was developed in partnership with producers HBO and Warner Bros Discovery.
Newly-filed accounts with Companies House also show its turnover increased from £1.9m to £2.7m in the year.
Game of Thrones studio tour bosses make concession
A statement signed off by the board said: “While the directors have full confidence in both the studio tour and the growing tourism numbers into the island of Ireland, they concede that the growth of key visitation segments take time to fully establish with travel and logistics factors considered, particularly in group and trade sectors.
“This has been reinforced with an investment in key personnel to support with short and long-term strategic planning and delivery.”
The accounts for Linen Mill Studios have been filed with Companies House three months after the deadline.
Its results for its latest financial year are now due to be published by the end of June 2025.
In comparison, the Harry Potter studio tour on the outskirts of London generates a turnover of around £250m and a pre-tax profit in the region of £80m.
Its latest accounts are due to be filed with Companies House in the coming days.