Dua Lipa firm posts record profits as revenues top €500,000 a week

Gordon Deegan

Global star Dua Lipa was truly ‘Levitating’ after her main promotional firm last year clocked up average weekly revenues of more than €500,000.

Last Summer, Dua Lipa wowed over 50,000 fans at the Aviva Stadium in Dublin as part of her Radical Optimism tour, where she sang a rendition of Sinéad O’Connor’s Nothing Compares to U along with all her own hits, including Houdini and Don't Start Now.

New accounts filed show that the singer, who turned only 30 this August, enjoyed a record year in 2024 as pre-tax profits increased by 37 per cent to £18.96 million (€21.7 million).

The pre-tax profits for 2024 and £13.78m for 2023 resulted in Lipa’s Radical 22 Ltd sitting on accumulated profits of £55.86 million at the end of 2024.

The accounts show that revenues rose by 24.5 per cent to £23.25m or an average of £447,271 (€512,032) per week in 2024.

The bumper year for the firm coincided with the ‘New Rules’ singer headlining Glastonbury in June 2024.

The firm recorded post-tax profits of £14.16m after incurring a corporation tax charge of £4.8m.

The accounts disclose that the company last year generated £21.5m from its operations.

Dua Lipa sits on the board of the company with her father, Dukagjin Lipa and in their directors’ report they state that during the year, turnover increased by 25 per cent from the previous year, which led to an increase in the net profit margin of 8 per cent.

They state that this is partly attributable to an increase in sponsorship and artist endorsements, along with improved royalty income.

In words that will thrill Dua Lipa fans, they state that Dua Lipa “is currently in the early stages of preparing and recording for her fourth studio album”.

Hit singles including Levitating and Don’t Start Now, along with Lipa’s Dance The Night single from the Barbie movie soundtrack, have made Dua Lipa one of the world’s best-known stars.

A breakdown of the company’s revenues shows that the bulk at £15.39m came from sponsorship, endorsements and other income, while £3.68m came from publishing advances, and a further £3.57m came from recording advances and royalties.

Lipa was born in London to Albanian parents from Kosovo who had left Pristina in the 1990s.

Due Lipa’s self-titled debut studio album was released in June 2017 and spawned seven singles, including two UK top-10 singles "Be the One" and "Idgaf" and the global hit “New Rules”.

Across her career, Lipa won seven Brit awards and three US Grammys.