Pre-tax profits at GAAGO last year increase by 28% to €1.1million
Gordon Deegan
Pre-tax profits at the controversial GAA pay-walled streaming service established by the GAA and RTÉ, GAAGO, last year surged by 28 per cent to €1.11m.
Launched as GAAGO in 2014, the GAA bought out RTÉ's stake earlier this year, rebranding to GAA+.
New accounts filed show that pre-tax profits increased sharply at GAAGO Media Ltd as subscription revenues increased by 7 per cent from €4.96 million to €5.3 million.
Overall revenues rose by 10 per cent from €5.23 million to €5.74 million as the platform benefited from its deal to broadcast GAA championship games to a domestic audience behind a pay-wall.
Revenues are made up of the subscription revenue of €5.3 million, sponsorship income of €285,417, and 'other income' of €148,312.
Against the background of a continuing GAA fan and political backlash of high-profile GAA games being put behind the GAAGO paywall in 2024, post-tax profits increased by 28.5 per cent from €761,370 to €978,986.
During 2024, the company incurred a corporation tax charge of €138,985.
The profits for the subscription-based sports channel last year allowed the firm to pay a €1 million dividend to its joint owners, RTÉ and the GAA and this followed a €1.2 million dividend payout in 2023.
The accounts - signed off by GAA Croke Park stadium director, Peadar Mac Cionnaith, and RTE’s group head of sport, Declan McBennett, on September 2nd- show that the firm’s accumulated profits at the end of 2024 totalled €1.32 million. Cash funds decreased from €2.87 million to €2.1 million.
The directors state that the GAAGO service streams GAA games to both domestic and international audiences and features over 100 live and on-demand games over the year, a library of award-winning GAA documentaries, as well as an archive of classic games.
The broadcast of the games to a domestic audience resulted in the company’s costs increasing by 6 per cent from €4.36 million to €4.62 million last year.
The profit last year takes account of non-cash depreciation costs of €39,207.
The accounts state that the company has an operational commitment to broadcast games to an international audience until the end of the rights agreement in 2027.
Criticism of the paywall element of the service from GAA fans and politicians was more muted this year.
However, in the year under review, then Taoiseach, Simon Harris, and then Tánaiste, Micheál Martin, were among those who hit out at GAAGO, with the then Taoiseach claiming the GAA had “gotten it wrong” in relation to the service.
The Tánaiste and now Taoiseach, Micheál Martin, agreed and added: “I’ve huge concerns about it, I don't understand it, in terms of the promotion of the game of hurling.”