Brown Bag Films reports slight drop in profits and revenues

Irish animation studio Brown Bag Films reported a slight dip in pre-tax profits last year as revenues fell by €600,000 to €50.1 million.

The studio, which employs close to 1,000 people across Dublin, Toronto, Manchester and Bali, has created a large number of internationally well-known children’s programmes, including Doc McStuffins, Butterbean’s Cafe, Octonauts, Peter Rabbit, Daniel Tiger, Bing and Noddy in Toyland. Two of its shows, Give Up Yer Aul Sins and Granny O’Grimm’s Sleeping Beauty, were nominated for Oscars.

Founded in Dublin in 1994 by Cathal Gaffney and Darragh O'Connell, the company recorded a profit before tax of €5.4 million for the 12 months to the end of August 2019, versus €6.9 million a year earlier.

A breakdown of revenues shows it derived €40.2 million in turnover from production with a further €9.85 million coming from distribution.

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During the year under review, the studio spent €10.8 million on distribution and production rights. It also provided €3.65 million to its 9 Story Distribution International subsidiary.

Brown Bag was acquired by Toronto-based 9 Story Media, one of North America’s largest animation studios, for an undisclosed sum in 2015. 9Story Media subsequently rebranded to Brown Bag to reflect the company’s brand reputation globally.

The average number of people employed by Brown Bag in Dublin rose to 398 from 334 over the year with staff costs, including wages and salaries, rising to €21.6 million from €19 million.