Profits jump at Dublin porn subscriptions firm

Pre-tax profits at a Dublin-based firm which collects subscriptions from premium users of a global porn empire increased by 14pc to $3.36m (€3m) in 2018.

MG Billing Ltd is a subsidiary of Canadian firm Mindgeek, that counts Pornhub and Youporn as some of its porn sites. New accounts show the company recorded the increase in pre-tax profits after revenues went up 8pc to $220.9m from $203.44m in 2018. The $220.9m revenues equate to weekly revenues of $4.2m for 2018.

The company’s accounts show that it generated revenue of more than $1.07bn between 2014 and 2018.

The combined revenues of $424.34m for 2018 and 2017 follow revenues of $222.19m in 2016, $233.79m in 2015 and $193.3m in 2014.

Please log in or register with Independent.ie for free access to this article.

Log In

New to Independent.ie? Create an account

The principal activity of MG Billing is the resale of membership subscriptions and management of online membership for certain websites, primarily delivered through online and mobile media platforms.

The directors of MG Billing stated that they considered the result for the year to be satisfactory, given prevailing market conditions.

They said that the company will continue to focus on revenues and the associated costs on a consistent basis.

Despite the large revenues generated in 2018, the amount of corporation tax paid by the firm was only $419,685.

This was as a result of the comparatively low pre-tax profits of $3.3m that arose from high operating expenses of $215.7m.

Source: Read Full Article