Losses continue at Simon Cowell’s talent agency YMU amid high-profile departures
Losses continued at the London talent agency which represents the likes of Simon Cowell, Graham Norton and Ant and Dec in the period it was sold for £60m, it has been revealed.
YMU, whose clients also include Stacey Solomon and Davina McCall, was taken over by Permira Credit in March 2024.
The deal, which saw the private lending firm acquire YMU’s parent company, Yokozuna Newco Limited, provided an exit for Trilantic Europe.
Chief executive Mary Bekhait also took a stake in the business.
YMU is chaired by Linda Yaccarino who recently stepped down as chief executive of Elon Musk’s X.
Now, new accounts filed for Yokozuna Newco show the business posted a pre-tax loss of £17.5m for the 17 months to the end of 2024.
The firm, which was set up in August 2023, also reported a turnover of £47.4m for the period, according to the results filed with Companies House.
In October 2024, Morning Wire reported that the group’s previous parent company, YMU Group Services, fell to a pre-tax loss of £32m in 2023. Its turnover also totalled £42.4m.
Simon Cowell’s agency hails ‘strong growth’
In Yokozuna Newco’s accounts, a statement signed off by the board said: “During the period reported the group has restructured the ownership and financial structure, rebased and re-sized the operational units and re-focused on the best internal talent for the future.”
It added: “The turnover of £47.3m reflects strong growth, consistent with the increasing digital advertising industry offset by some headwinds in the entertainment division and recent TV advertising declines.
“The sports division had a good year driven by football player transfers while the business management division, which provides professional accounting, tax and royalty examination services, also had good revenue growth.
“The US music division is signing exciting new clients and shows positive signs for the future.
“The UK music division saw increased music advances and signing of new managers with clients.
“The group continues to invest in the internal talent by bringing in industry experts to help drive growth and build momentum in revenues and continues to diversify its offering to clients, particularly in commercial revenues, brand ideas and intellectual property/venture opportunities while also simultaneously driving cost efficiencies.”
The results come after it was reported at the start of 2025 that YMU had sold its accountancy business through a management buyout.
YMU Business Management, which was established in 1986, was taken over by Julie Symes and Simon Petrie and changed its name to OJK Business Management.
Over the last year YMU has suffered a number of high-profile clients leave including Take That, Nicole Scherzinger, Amanda Holden, Gabby Logan and Claudia Winkleman.