Quote Magazine September 28, 2023.
Quote Magazine, By Tim Jansen, Published on: Sept.28, 2023 Translated by Ineke, edited by Diana D. Le Profitable waltz: André Rieu raises millions again After the dull corona year of 2021, we hear André Rieu's accountant cheerfully humming the "Radetzky March" after a profit of €17 million has been booked. Corona was not a happy period, but certainly not for professional musicians. After all, it is difficult to take your work with you to the attic room. Especially if, like André Rieu, you lead a sixty-piece orchestra. The Limburg violinist gloomily said that he would sell his Stradivarius in times of need. Fortunately, he managed to squeeze out a profit of six hundred thousand Euros in 2021 and there was hope, because in 2022 we could party again. As a result, the turnover of Andre Rieu's company grew by 995.9 percent. In hard Euros, we are talking about an increase from €6.1 million to €67.5 million. €19 million of this was earned in the Netherlands. Of course, Limburg's greatest export success also has its costs. For example, Rieu builds his own decor, employs a hundred people (including 59 orchestra members), and the tax authorities are always a certainty. Still, €17 million in profit was left hanging. André Rieu remains popular The Waltz King does not treat himself to a dividend, but leaves the full amount in the company. With a cash position that increases by €15 million to €35 million, the musical company can withstand a pandemic. Especially because the Stradivarius has not been sold and there are almost €11 million worth of string instruments on the books. This is not depreciated, because special instruments tend to increase in value rather than decrease in value. Rieu has been regarded for years as one of the most famous musical export products in our country. For example, Billboard calculated in 2018 that he had already booked $ 550 million in sales at that time. He is therefore considered one of the greatest artists in the world.
Financial top year for Andre Rieu: 17 million profits The Limburger, by Leo Hauben October 17, 2023 Translated by Ineke, edited by Diana D. Le For André Rieu, 2022 was a great year financially. The orchestra leader made a profit of almost 17 million euros with his companies. That is considerably more than in the years before the corona crisis threw a spanner in the works. Last year, Rieu was again able to give plenty of concerts around the world (67) and this is reflected in the financial results. At the bottom line, Rieu had about 40 percent more left than in 2019, the last 'normal' year in terms of performances. In 2020 and 2021, he could hardly perform due to corona measures, which meant that the profit in those years was much lower. To get back on track, Rieu is leaving last year's profits entirely in the company. André Rieu Group A total of eleven companies together forms the André Rieu Group. For example, the travel agency, the real estate and the studio in Maastricht have been placed in separate companies, but the financial results have been included in the group profit of 17 million euros. Moreover, profits received a boost from the government's latest corona support measure for companies (NOW scheme). Cuddly bear The Maastricht orchestra leader achieved by far the most turnover from the sale of tickets for his concerts. That revenue amounted to 62.5 million euros last year, putting Rieu among the world's top. The sale of Rieu products, such as mugs, scarves, and the André Rieu teddy bear, generates relatively little turnover, less than one million euros. The sale of (music) rights is a larger source of turnover with 3.4 million euros. Especially abroad Rieu's international success is also evident from the geographical distribution of its turnover. Most of the turnover even comes from concerts outside Europe. In the Netherlands, Rieu achieves about 30 percent of its turnover, mainly with the Vrijthof summer concerts and the Christmas concerts at the MECC. Another interesting detail from the annual accounts: André Rieu's violins, including his Stradivarius, are valued in the books at 10.8 million euros. They are not depreciated because they will probably yield more than their book value if they are sold. Recently André Rieu announced the first dates of his 2024 summer concerts at the Vrijthof in Maastricht: July 4 to 7. This will be the 18th time that the event will take place. Traditionally, the number of concert dates is gradually increased over the course of the year. This year the counter stopped at 12 concerts. Note by Diana: The article quoted 67 concerts for 2022 but the total number of concerts was actually 92. Thank you Diana for being so alert!
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