The Piano Works’ two 400-capacity venues in Farringdon and the West End grew year-on-year like-for-like sales by 19% to £9.2m net of VAT for the calendar year ending 30 December 2019.
For the five weeks of Christmas, like-for-like top line sales were up 15% to £1.9m, yielding a 32% net profit (Ebitda).
Alan Lorrimer, Managing Director, said, “We are very pleased with our continued growth this year, especially with the prophets of gloom around us foretelling a downturn.
'Our two non-stop live music venues continue to demonstrate that our target market love the concept of audience requested music and the non-competitive, communally bonding experience of singing along with highly skilled musicians.
“We are planning to open a third site and will continue to invest in our existing sites to ensure our customers’ experience remains differentiated and consistent.”
Tristan Moffat, Operations Director, commented, “At the beginning of the year we created SingEasy within our Leicester Square site, a 100-capacity space where singing waiters metaphorically juggle serving food and drinks whilst leading our guests in a sing-along.
“This year we’ve upgraded our sound systems, provided our musicians with vocoders, synths and drum pads to provide an authentic sound to current chart requests and installed low light controllable cameras that will allow us to both live stream and record our guests’ requests and reactions.”