The television division of the production company behind films such as the Harry Potter series, the Paddington films and the box office hit Barbie returned to profitability in 2023.

Heyday Television reported a pre-tax profit of £281,000 for the last financial year, following a pre-tax loss of £752,000 in 2022.

According to accounts recently filed with Companies House, the Hertfordshire-based company’s turnover rose from £15.3 million to £45.4 million in the 12 months.

Heyday Television stated in its financial statements that the jump in revenue was due to the partial delivery of a video-on-demand subscription title, offset by higher costs that led to a lower gross profit margin.

The company’s gross margin fell from 17 percent to 14 percent in 2023, while the operating margin increased from minus three percent to five percent.

Heyday Television profitable again, but joint venture partner’s loss increases

Heyday Television is a joint venture between Heyday Films, founded in 1996 by producer David Heyman, and Universal International Studios.

Separate financial statements from London-based Universal International Studios show the division’s revenue fell from £62.7 million to £34.7 million in 2023.

The results, which were also recently filed with Companies House, show that the loss before tax in the twelve months increased from £5.3 million to £44.3 million.

In addition to Heyday Television, Universal International Studios’ subsidiaries include Working Title, UMSI Productions and Matchbox Pictures, based in Australia.

In July City AM reported that the UK arm of Working Title, the production giant behind The Lord of the Rings, Love Actually and British cult classics Hot Fuzz and Shaun of the Dead, has had a difficult year after being “significantly affected by the Hollywood screenwriters’ strike”.

In 2023, the company’s turnover increased from £11.4 million in the previous year to £13 million.

Pre-tax profit also increased slightly to £528,000 for the twelve months, from £496,000 in 2022.