Liverpool revenue static at £594m as club reports £9m loss

March 5 – Premier League Liverpool has reported a £9 million loss for the financial year ending May 31, 2023, compared to a profit of $7.5 million the previous year.

The club reported its revenue remaining “static” year-on-year at £594 million.

Commercial revenue was a bright spot for Liverpool, showing a £25 million increase to £272 million. The club said this was due to a strong growth in partnerships and a profitable pre-season tour, playing games in Thailand and Singapore.

New commercial partners included Peloton, UPS, Orion Innovation and Google Pixel.

The club highlighted the growth of its retail operations which had a record year with seven new stores opening across Asia and more than 350,000 downloads of the new LFC Store app. The club said footfall across LFC stores reached 2.5 million shoppers, including more than 10,000 every matchday at Anfield.

Media revenue showed a £19 million drop to £242 million which is attributed to exit from the Champions League in the last-16 stage, compared to reaching the final in the previous season.

Early exits from the FA Cup and League Cup also meant fewer home games and resulted in a £7 million drop in matchday revenue to £80 million.

Digital reach is now a key part of a club’s commercial ptich and Liverpool said it became the first club in the Premier League to reach 8 million YouTube subscribers and surpassed 40 million followers on both Instagram and Facebook. The club has more than 173 million cumulative social followers across its men’s and women’s social media channels.

Andy Hughes, LFC’s managing director, said: “Despite the significant growing costs of football, the success of our commercial operations demonstrates the strength of our underlying financial position so we can continue to operate sustainably while competing at the highest levels of football.

“We’re really excited to see the completion of the new Anfield Road Stand in the coming months. Having a record league…

Source link : https://www.insideworldfootball.com/2024/03/05/liverpool-revenue-static-594m-club-reports-9m-loss/

Author : Paul Nicholson

Publish date : 2024-03-05 07:35:34

Copyright for syndicated content belongs to the linked Source.