The cost of the AFL's new teams Gold Coast and Greater Western Sydney has led to the league making an operating loss for the first time in a decade.

Figures released on Friday show the AFL has recorded a deficit of $23.6 million.

And league boss Andrew Demetriou took a $400,000 pay cut last year, bringing home $1.8 million compared to $2.2 million in 2010.

AFL Commission chairman Mike Fitzpatrick says the rare loss will be quickly made up.

"The AFL commission is aiming to recoup the net loss during the next five years by generating profits of at least this amount," Fitzpatrick said.

The AFL recorded record revenue of $343 million - a two per cent increase - and an operating surplus of $234 million, up from $230 million.

Clubs were provided with total funding of $159 million.

Fitzpatrick said new television and digital media rights would be critical for financial growth in the near future.

Demetriou's salary included a base payment of $1.4 million and a $400,000 bonus.

The AFL said he was paid more in 2010 because he received a long-term retention bonus that year.

In total the nine-member executive team earned $5.08 million in salaries and bonuses.

The league also released other figures including:

Record participation - 791,178 from the previous mark of 751,015.

Record club membership- 650,373 compared to 614,251 in 2010.

Average attendance - 34,893 which puts the AFL in the top four in the professional sporting world.

AAP