Friday 23 March 2018

Sheeran sings Warner to success

Ed Sheeran
Ed Sheeran

Gordon Deegan

Executives at the Irish arm of music giant Warner Music have credited Ed Sheeran as the main reason behind a €1.5m jump in revenues at the firm in 2015.

Leaving music fans - and industry figures - in no doubt as to the importance of the singer-songwriter to the success of Warner Music, directors at Warner Music Ireland Ltd stated that revenue increased by €1.53m to €6.85m "largely due to the success of Ed Sheeran".

Sheeran's 2015 success for Warner Ireland was based on his best-selling album 'Multiply', and he is repeating that success again this year with new release 'Divide'.

The impact of Sheeran's 2015 performance resulted in the firm recording pre-tax profits of €143,579 in the 12 months to the end of September 2015, and this followed pre-tax losses of €143,346 in the prior year.

Directors' pay decreased marginally to €270,982. The directors said they believed that the company would continue to grow turnover.

Irish Independent

Business Newsletter

Read the leading stories from the world of Business.

Also in Business