U2 firm records profit of €3.7m

A firm owned by the members of U2 last year recorded profits of over €3.7m last year as it reaped the dividends of the band’s blockbusting world tour and new music.

New accounts filed by U2 Ltd show that in the previous year it had a loss of €1m.

The buoyancy of the firm’s business is underlined by its cash pile which more than doubled to €6.89m.

Last year, U2 grossed $152.2m (€141.6m) in box office receipts as more than 1.28 million fans paid to see the band perform across the globe.

Box office receipts are split between artist, promoter and venue owner.

The average gross from each U2 gig was $6.92 million — easily the most lucrative average pay-day for performers touring last year, after the band had performed 76 dates in 22 cities.

The band’s U2 Ltd firm is engaged in the creation, protection and licensing of intellectual property. Its staff numbers grew to nine, with staff costs increasing to €203,466.

The firm owed €6.65m under the heading of “employee current accounts” at the end of last year.

Separate accounts for another U2 firm, Not Us Ltd show that its employees include Bono, The Edge, Adam Clayton and Larry Mullen.

Not Us Ltd has 10 staff, and its staff costs last year were €605,333.

The amount paid to directors of Not Us Ltd came to €189,156.

At the end of December, the firm was sitting on accumulated losses of €12.65m.


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