Pay for one of Ireland's best-known entertainers, TV host, comedian and podcaster, Tommy Tiernan last year surged as he shared directors’ pay of €1.18m at his main entertainment firm.
In a bumper year for Tiernan’s Mabinog Ltd, new accounts show that aggregate pay for the comedian and co-director and wife, Yvonne Tiernan, increased 21-fold from €54,740 to €1.18m.
The large pay increase for the two coincided with a very successful run of the primetimeon RTÉ and the massive popularity of the podcast with Hector Ó hEochagáin and Laurita Blewitt.
The podcast — currently on a break for the summer months — has generated over 20 million listens in its first two and a half years.
Tiernan’s podcast partners are also benefiting from the venture with separate accounts recently lodged by Blewitt’s podcast firm, Lightning Seeds (Irl) Ltd, showing that the firm recorded profits of €190,775 last year while Hector O’hEeochagain’s own media firm, Low Profile Ltd, enjoyed profits of €172,181 in 2022.
The new Mabinog Ltd accounts show that the cash funds at the company almost tripled from €635,927 to €1.64 million last year.
The directors’ payout to the Tiernans contributed to profits for the year more than halving from €123,812 to €56,503.
At the end of December last, the company had an accumulated loss of €39,430.
Numbers employed by the business increased by one to five made up of two directors and three staff and Tiernan is currently adding to the coffers of the firm with a series of ‘Tomfoolery’ tour dates here, including ‘Live at the Marquee’ dates in Cork in June.
, lauded for its unrehearsed format, completed a 12-week run in March, and guests in the most recent series included Roy Keane, Dara O Briain, and actor Denise Gough.
Addressing Mabinog's going concern status, a note attached to the accounts states that “after reviewing the company’s results and projections as well as considering the impact of the current economic situation, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future”.
Separate accounts lodged by connected firm, Mabinog Publishing Ltd show that the company recorded post-tax profits of €124,747 last year and this followed profits of €105,567 in 2021.
At the end of December last, the firm was sitting on accumulated profits of €778,202.