Dua Lipa now worth over £100m despite major drop
Pop star Dua Lipa saw her earnings slashed by more than £40m in the year between her popular live tours, it has been revealed.
Turnover at the singer’s production company, Radical22 Live, fell significantly from £51.5m to £8.4m in the 12 months to 31 March, 2024.
Newly-filed accounts with Companies House also show that the firm’s operating profit was also cut from £21.7m to £1.5m over the same period.
Dua Lipa’s earnings had been boosted in the firm’s prior financial year by the success of her Future Nostalgia Tour which took place from February 2022 to November 2022 over 91 shows.
The star did not tour during the 12 months to end of March 2024 but did release Dance the Night, the lead single of the Barbie film soundtrack.
In November 2023, Dua Lipa acquired full ownership of all her songs, music and publishing rights in a new deal with her former music publishers, TaP Music.
Later than month, the singer released the lead single from her third studio album titled Houdini while the album itself, Radical Optimism, was put on sale in May 2024.
The turnover Dua Lipa’s production company earned from performance fees and promotional support was cut from £46.5m to £3.2m in the year.
It also did not generate any turnover from merchandise, having raked in £742,676 in the prior year.
The firm also only earned a turnover of £3m in Europe, down from £17.8m, and £5.4m in North America, a fall from £18.4m.
The company did not generate any turnover from any other geographical markets in the year, having earned £7.2m in Central and South America, £6.4m in Oceania and £1.4m in the rest of the world in the year to March 2023.
Despite the fall in earnings, Dua Lipa is expected to earn a bumper pay day in the year to March 2025 off the back of her most recent album, tour and her headline performance at Glastonbury Festival last summer.
In 2024, The Sunday Times Rich List put Dua Lipa’s earnings at £90m.
The singer has now surpassed the £100m mark with the latest accounts from Radical22Live as well as her other company, Radical22, which posted a pre-tax profit of £13.7m.