AEG Presents increased UK revenues by 81% year-on-year in 2018 to £141 million.
However, the company’s event margin was impacted by a lower profit participation on certain tours and losses arising from investment in new business.
According to documents lodged at Companies House, the promoter went from a small profit of £153,865 in 2017 to an operating loss of £1.37m last year.
AEG Presents staged 951 events last year, up 20% on the 2017 total. The increase was driven by club and theatre events.
During 2018, AEG Presents launched the All Points East festival at London’s Victoria Park, which won Festival Of The Year at the Music Week Awards. It also continued the “successful production” of its BST Hyde Park series.
In its strategic report, AEG Presents said it expected 2019 to be busier than last year in terms of established artist touring. It continues to build up UK artist touring activity alongside a “non-core events strategy”.