THE parties, which brought tens of thousands of revellers into the city centre, look set to become an annual event.
City chiefs substantially upped their investment this year and say that it was a huge success.
Their first attempt in 2011 involved a €30,000 investment, but a further €110,000 was pumped into the party on December 31 last -- marking the start of The Gathering.
In addition to this direct financial provision, Dublin City Council provides benefit in kind to the festival relating to advertisement and media services and the waiving of some fees associated with staging the festival.
They did not charge for the use of the public realm, road closures fees and waste management fees.
Imelda May and Bell X1 were the stars of the show this year that drew record viewing figures.
"In order to assist with the establishment of a major annual Dublin New Year's festival and achieve the tourism, economic and civic objectives for the city, in 2011 a payment of €30,000, inclusive of VAT, was paid by the council to Failte Ireland towards the inaugural festival," a spokesperson for the council said.
"In 2012, Dublin City Council's overall monetary contribution to staging the various components of the festival was €110,000.
"In addition, direct financial provision, Dublin City Council provides benefit in kind to the Festival."