Based in County Wicklow, a corporation disbursed €64 million across two years on the third instalment of the Netflix series Valhalla. Financial statements for Valhalla 3 Productions DAC indicate a €40.66 million expenditure on the series in the year-ending April, following a €23.34 million expenditure the previous year.
Three seasons of the Vikings sequel drama have been locally produced. The total investment by the three firms established in Ireland to facilitate the productions is €188.85 million. Valhalla 2 Productions DAC contributed €55.9m to this total, while Valhalla 1 Productions DAC invested €68.95m.
In their annual review, Valhalla 1’s directorship noted that the initial season’s production was hindered by the pandemic in the 12 months concluding in April 2021, leading to considerable unexpected expenses regarding COVID-19 risk management protocols and health and safety measures.
Filmed in County Wicklow, Valhalla, an off-shoot of the hit series Vikings, is set over a century after the parent programme’s storyline. The series focuses on the escalating friction between the Vikings and native English, as well as conflicts among Vikings favouring traditional pagan or Christian ideologies.
Season 3, touted as the last instalment, is set for a Netflix release later this year. All Valhalla companies are under the umbrella of Metropolitan Films International Ltd, with the Valhalla series securing between €10m and €30m in Revenue 481 movie tax relief.
The latest financial reports for Metropolitan Films International reveal that, including Valhalla and other projects, the company secured €72.5 million in Revenue film and television corporation tax credits in the year concluding April 2022.
The accounts for Valhalla 3 reveal a €15.88 million wage expenditure as workforce numbers rose from 31 to 245 last year. However, it has been noted that the reported employment figures for last year are higher than average.
The board members have confirmed that the funds for the production of the third series of Valhalla were provided by its parent corporation, Metropolitan Films International Limited. The first series of Valhalla debuted on Netflix in February 2022 with the next series premiering 11 months later in January 2023.