Subscriber febottini 229 Posted December 4, 2012 Subscriber Share Posted December 4, 2012 The cash pile at a company controlled by the four members of U2 fell nearly €1.7m last year as the company slipped into the red. New figures for the loss-making U2 Ltd show the firm’s accumulated profits plunged by €2m, from €2.978m to €975,837, in the 12 months to the end of December last. Figures lodged with the Companies Office show the cash pile at the band’s firm last year dropped by €1.7m to €2.3m. The loss follows a pre-tax profit of €46,571 in 2010. Auditors Mazars confirmed the company recorded a loss last year. The main activity of U2 Ltd is the creation, protection, and licensing of intellectual property, and the abridged accounts do not provide a revenue figure or what may have been paid out in salaries or dividends during the year. The figures show the amount U2 Ltd is owed by band members through shareholder loans increased from €881,393 to €1.1m during the year. The loss comes in spite of U2’s 360° world tour grossing $231.9m (€178.7m) last year after 2.38m fans paid to see the band in 34 gigs across 26 cities. U2 Ltd is controlled by Not Us Ltd, which has the four members of U2 — Bono, The Edge, Adam Clayton, and Larry Mullen — as its directors. Accounts for that company show that its accumulated losses increased last year from €3.8m to €5.6m. This mainly concerned amounts owed to related parties increasing from €4.9m to €5.9m. From: Irish Examiner Quote Link to post Share on other sites
Subscriber danielsentana 635 Posted December 4, 2012 Subscriber Share Posted December 4, 2012 Breaking news: Surprisingly, U2 are at the studios and promise a 3 year long tour! Quote Link to post Share on other sites
Subscriber richie459 14 Posted December 4, 2012 Subscriber Share Posted December 4, 2012 Small change to the boys I'd imagine though! Perhaps they'll now send U22 to retail. Quote Link to post Share on other sites
Subscriber maarten 1 Posted December 4, 2012 Subscriber Share Posted December 4, 2012 Hmm... Its impossible they get into money trouble.. But yeah, maybe they'll make a huge huge huge tour, doing every city 5 times.. Imagine, it must be great! Quote Link to post Share on other sites
Community Moderator mich40 2,561 Posted December 5, 2012 Community Moderator Share Posted December 5, 2012 Not surprising, if you ask me. Correct me if I'm wrong, but wasn't the website and the merchandise once a part of Not Us Ltd? Now that's all controlled by LiveNation. They sold their souls to rock and roll. Now, if they could just get control back, the world would be a better place for them and us. Quote Link to post Share on other sites
Subscriber celticfc09 0 Posted December 5, 2012 Subscriber Share Posted December 5, 2012 they should start selling Fiscal Cliff Bars Quote Link to post Share on other sites
Subscriber joshthetree 115 Posted December 8, 2012 Subscriber Share Posted December 8, 2012 they're not selling anything new....any wonder? Quote Link to post Share on other sites
MacFoley 55 Posted December 9, 2012 Share Posted December 9, 2012 Better hurry up with the next album and tour or they will be broke otherwise... Quote Link to post Share on other sites
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