Sir Ridley Scott’s production company fell into the red as it battled with the “turbulent waters” of the film and TV industry, it has been revealed.
Ridley Scott Associates has reported a pre-tax loss of £2.6m for the 12 months to 30 September, 2023, according to newly-filed accounts with Companies House.
The loss comes after the business reported a pre-tax profit of £407,228 for the prior year.
Its turnover increased slightly from £29.4m to £29.7m over the same period.
Ridley Scott Associates is an advertising, creative and entertainment production company specialising in live action, stills photography, social media and unscripted TV and live events.
Ridley Scott Associates’ turnover in the UK rose from £17.5m to £21m but fell from £6.2m to £3.4m in Europe.
It also edged down from £2.3m to £2.1m in the USA and from £3.2m to £3.1m in the rest of the world.
Ridley Scott Associates was founded din 1968 by Ridley Scott and his brother Tony.
It is still owned by Scott while its directors include his son, Luke, and daughter, Jordan.
The London-based business filed its accounts for the year to 30, September 2023, three months after the Companies House deadline.
It is now due to publish its results for the year to 30 September, 2024, by the end of June 2025.
Ridley Scott Associates aiming to be ‘harmonious, solid and secure’
A statement signed off by the board said: “The year… was a year for the global entertainment industry and the country.
“The heart of the entertainment industry (Hollywood) went on strike, pausing productions in features and TV.
“This causes a backlog for all productions, which delayed everything.
“RSA continued to convert most of its pipelines at the higher end, which enabled us to navigate the turbulent waters of the global industry.”
Ridley Scott Associates added: “Management continues executing the strategic plan, focusing on growing new areas of the business and developing our global reach.
“The initial investment is starting to show signs of maturing into a harmonious, solid and secure business.”