“Succession” Showrunner’s Production Company Jesse Armstrong Doubles Profits After “I May Destroy You” Success

Jesse armstrong‘s Various Artists Ltd recorded after-tax profits of £ 2.6million ($ 3.5million) from the success of “I can destroy you. “

Profits for the year ending March 2021 are more than double those of the previous year, which amounted to £ 1.2million ($ 1.6million) according to Various’s latest financial report Artist Ltd, which was registered with Companies House in the UK on December 17th.

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Armstrong, who is also the showrunner for the hit HBO series “Succession”, Co-founded Various Artists Ltd in 2017 with Peep Show collaborator Sam Bain and former Channel 4 curators Phil Clarke and Roberto Troni. (Various Artists Ltd does not produce “Succession.”)

BBC Studios owns a minority stake in the company.

Various Artists Ltd year-end financial report credits “I May Destroy You,” which was written by and performed by Michaela coel, as one of the main drivers of “considerable success of the company to date, compared to the short life of the company”.

“In particular, ‘I May Destroy You’ was one of the most commented and critically acclaimed television shows in living memory, winning awards including five BAFTAs, three RTS awards and two Emmys,” indicates the report. “This has positioned the company as a very desirable production partner for broadcasters and top TV talent. “

“I May Destroy You,” which first aired on the BBC and HBO, tells the story of a woman who reassesses her life after being sexually assaulted in a nightclub.

Clarke and Troni produced the show alongside Coel and the show’s director Sam Miller.

Various Artists Ltd. are also producing “Dead Pixels”, now in its second season, and “Sally4Ever” with Julia Davis.

The report confirms that Various Artists Ltd “retained their entire core team throughout the pandemic and did not need any support through government loan programs.”

However, the pandemic continues to affect production, the report admits, which is not surprising given that a considerable percentage of a given project’s budget is allocated to meeting COVID-19 protocols, including procedures. rigorous testing. “The COVID-19 pandemic continued to put pressure on budgets and schedules, and introduced an element of danger into the normal production process,” the report says.

As a result, while Various Artists Ltd’s after-tax profits were on the rise, its total revenues were actually down by almost £ 3million ($ 4million).

Revenue for the year ending March 31, 2021 was £ 11.8million ($ 15.8million) while the previous year, ending March 2020 (when the UK Uni entered its first pandemic-induced lockdown) was £ 14.5million ($ 19.4million).

Despite, UK production is booming and the company’s directors, who include COO Greg Allon, production manager Marilyn Bennett and BBC Studios in addition to Armstrong, Bain, Troni and Clarke, have optimistic outlooks.

“The directors see the future prospects of Various Artists Ltd as very positive,” the report says. “In early 2021/22, the COVID-19 pandemic continued to impact the UK television industry and the company’s backlog. However, the Directors are convinced that the Group has solid fundamentals to face unfavorable conditions.[.]”

Among the reasons for their optimism, the report cites a closing cash balance of £ 7.44million ($ 10million), down from £ 3.82million ($ 5.1million) in the previous March. and “a compelling list of potential productions and strong relationships with the UK and US. diffusers.

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