RTÉ’s Toy Show: The Musical made an eye-watering loss.
Spend on the musical, which took place in Dublin’s Convention Centre last December, is now the focus of public scrutiny – as it’s believed newly discovered barter accounts are linked to it.
According to documents provided to the Oireachtas Media Committee, the stage production cost less than expected in management, pre-production, rehearsal and running.
However, marketing and press for Toy Show: The Musical actually cost more than double what was predicted.
RTÉ made a €2.2 million loss on the stage production last year.
The broadcaster predicted it would rake in €3.2 million (75,000 tickets); however, it actually only brought in €451,000 (11,044 tickets).
It has been reported that RTÉ spent as much €2 million on the musical, which Director of Strategy Rory Coveney said wasn’t “successful commercially”.
RTÉ was plunged into chaos last month when it was revealed that Ryan Tubridy’s earnings were publicly understated by €345,000 over the last six years.
The issue was identified during a routine audit of RTÉ’s 2022 accounts, prompting an independent review of the matter.
Last week, RTÉ’s Chief Financial Officer Richard Collins said he believes “over €1 million” has gone through the broadcaster’s barter account over the past decade and on Tuesday evening – it was revealed there was more than one of these accounts.
The broadcaster used the barter account system for €1.6million in client entertainment and corporate hospitality over the last decade – nearly €400,000 more than previously disclosed.
The RTÉ Board met on Tuesday evening, and a spokesperson said it had no comment to make on the additional barter accounts.
They added that the broadcaster would provide comment and context regarding these barter accounts at today’s meeting of the Oireachtas Media Committee.
