Game of Thrones Studio Tour faced £33M losses in two years

Even though Game of Thrones has concluded, the excitement for the saga of Ice and Fire continues globally. This is further fueled by the anticipation that George R.R. Martin’s cherished Westeros will return in various forms, primarily through numerous spinoffs. Another avenue that takes fans back to Westeros is the Game of Thrones Studio Tour.

Game of Thrones Studio Tour incurs massive losses

Though the Official Game of Thrones Studio Tour remains one of Northern Ireland’s biggest attractions, it has not generated enough revenue. And this is not the first time. According to Irish News, Linen Mill Studios, the company operating the Game of Thrones studio tour in Banbridge, reported a loss of £17 million last year.

The new accounts indicate that despite a 40% increase in revenue to £2.7 million, the company experienced an operating loss of £7 million in the 12 months leading up to September 30, 2023. Additionally, a revaluation of assets to better reflect visitor numbers resulted in a further £10 million loss. This adjustment follows a previous devaluation of the studio tour by £13.7 million in 2022, culminating in a total pre-tax loss of £33 million over the two years.

Visitorship remains high at the studio tour

However, despite the dwindling profits, fan interest remains at an all-time high. Linen Mill Studios has not revealed the exact number of visitors from last year; however, they reported a 30% increase in visitors for 2023 and a further 35% increase this year. Despite significant losses, Andrew Webb, the chair of the Game of Thrones studio tour board, affirmed that the owners and investors are dedicated to its continued success. He said:

“While initial visitor numbers were below original expectations, we are now on a pathway to attracting 400,000 visitors per year. Given the value of tourism to the wider economy, we’re particularly pleased that Game of Thrones studio tour grew visitor numbers by 30% in 2023, with a further 35% rise so far this year.”

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