Script writing their own profit

The Script’s success story of adoring fans, sold-out concerts and number one albums now adds to the mix — loads of cash.

This follows new accounts filed by band members’ companies in the UK showing that the firms’ combined cash pile last year more than doubled to £3.72m (€4.52m). According to trade industry journal, Pollstar, the Dublin band — led by 33-year-old Danny O’Donoghue — generated box office receipts of $15.1m (€11.1m) last year with a total of 294,404 fans paying to see the group at 28 concerts in 23 cities, including three, sell-out gigs at Dublin’s O2.

The band — ranked 97 in the top 100 grossing tours for 2013 — generated box office receipts of $656,522 per gig.

The band will add to its coffers this year by staging a five-week, 18-date tour in the US in May and June.

Box office receipts are shared between artist, promoter and venue operator and the band’s touring success contributed to combined accumulated profits at two firms controlled by O’Donoghue and band co-founder, Mark Sheehan, increasing by €892,000, or 69%, from £1.29m to £2.182m (€2.65m).

Cash at O’Donoghue’s and Sheehan’s Madnotes Publishing Ltd last year almost tripled, from £753,002 to £2.01m.

In a year of runaway success for the band, that included their album #3 topping the charts in Ireland and the Britain, the company’s accumulated profits almost doubled. from £561,989 to £1.004m.

Separate figures lodged by O’Donoghue’s and Sheehan’s Madnotes Entertainment Ltd show that the firm’s cash pile increased from €985,003 to €1.7m.

The figures show that the firm’s accumulated profits increased by 62%, going from €729,503 to €1.17m.

Directors and shareholders of the two firms are the founding members of The Script, Danny O’Donoghue and Mark Sheehan.

The figures show that Madnotes Entertainment Ltd provided advances of £266,035 to Danny O’Donoghue during the year with that amount outstanding at year end.

The figure also show that £234,707 in advances were provided to Mark Sheehan during the year with the amount outstanding at year end. The filings show at year end, Madnotes Entertainment Ltd owed Madnotes Publishing Ltd £1.063m and a note attached to the accounts confirms since year end, Madnotes Entertainment has repaid the loan in full.