Irish fans help Ed Sheeran record €100,000-a-day revenues in 2018

Irish Ed Sheeran fans helped in no small way to help the singer’s main firm clock up revenues of more than €100,000 a day last year.

Irish fans help Ed Sheeran record €100,000-a-day revenues in 2018

Irish Ed Sheeran fans helped in no small way to help the singer’s main firm clock up revenues of more than €100,000 a day last year.

‘Ed-mania’ hit here when around 400,000 fans snapped up tickets for nine Ed Sheeran concerts around the island of Ireland at Dublin, Cork, Galway, and Belfast.

On one day alone, more than 300,000 tickets for an initial seven shows were sold, making history with Sheeran being the only artist to ever achieve such a feat here. Due to the phenomenal demand, extra dates were added.

The Irish concerts were part of Sheeran’s ÷ Tour which has gone on to be highest-grossing tour of all time, generating $775m at the box office.

Now, new accounts filed by Ed Sheeran Ltd show that the record-breaking concert series here helped the firm to record revenues of £32.64m in 2018.

The 2018 revenues work out at £89,435 (€100,907) a day or £626,077 a week.

The firm’s revenues of £32.64m were down 10% on the firm’s 2017 revenues of £36.29m.

Sheeran has strong Irish roots and pre-tax profits at the firm last year declined by 13% from £27.37m to £23.7m.

The company recorded post-tax profits of £19.26m after paying corporation tax of £4.5m.

The accounts show that the flame-haired singer last year pocketed a £17.1m dividend from the global success of his firm.

This followed Sheeran taking a £16.5m dividend in 2017.

The cash pile at the firm at the end of last year totalled £10.5m - down from the £16.1m in 2017.

The firm’s accumulated profits at the end of 2018 totalled £9.7m after the dividend payout.

The director's report attached to the accounts, filed with Companies House in the UK, states that “revenue during the year remained stable on the prior year due to the continued exploitation of music recording and song writing”.

The report states that “going forward, the company’s turnover is expected to remain strong but it will be dependent on the artist’s continued success”.

The report adds that as Sheeran “has a huge worldwide popularity, the main risk facing the company is foreign exchange rates due to royalties being received in foreign currencies and in particular US dollars”.

Sheeran has family here and he attended the wedding of an Irish first cousin, Lauren Sheeran, in Spiddal in July 2014.

In January 2014, the popular singer/songwriter wore his Irish granddad Bill Sheeran's old tie when attending the Grammy music awards in the US.

The late Bill Sheeran was originally from Co. Derry and moved to London in his youth and married a nurse from Co. Wexford. Bill and Ann Sheeran raised their family in London.

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