London-based production firm, Merman Television, has announced robust combined revenues of €59.2 million for the years 2021 and 2022, largely fuelled by the global success of their shows, notably ‘Bad Sisters’. Co-founded by Sharon Horgan, Jeremy Rainbird, and Clelia Mountford, Merman Television presented its first consolidated accounts, showcasing impressive growth driven by award-winning hits such as ‘Divorce’, ‘Motherland’, ‘Catastrophe’, and ‘Bad Sisters’.

A Year of Triumphs and Challenges

In 2022, the company revealed post-tax profits of €500,484 and revenues of €26.83 million. The prior year, 2021, was noted as exceptional, with revenues soaring to €59.2 million, and post-tax profits peaking at €1.1 million. This significant boost was largely attributed to the resumption of productions delayed in 2020 due to the pandemic.

Changes and Developments

Early in 2022, Jeremy Rainbird, one of the co-founders, departed the company, selling back shares worth nearly €1 million, while retaining a stake in the firm. Despite recording a pre-tax loss in 2022, the company managed to turn the tide with the help of ‘high-end television tax relief’, transforming the loss into a post-tax profit.

Looking to the Future

Operating out of offices in London and California, Merman Television directly employed 16 people, with staff costs totaling €1.74 million. The directors have, however, expressed concerns about a potential reduction in program spending by broadcasters due to anticipated lower ad revenue, identifying this as a potential risk for the company’s future growth.