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Irish stars share €32.4m bonanza

U2, Paul Brady and Christy Moore (right) along with thousands of other Irish artists last year shared a €32.4m bonanza from the public performance and broadcast of their songs.

This follows the Irish Music Rights Organisation (IMRO) – which collects royalties on behalf of the artists concerned – confirming that licence revenues last year increased by 1pc or €379,178 to €36.8m. IMRO's directors' report states that "public performance and overseas revenue contributed largely to this increase".

However, the figures show that the organisation is in a €2m deficit following its spending on the refurbishment on its Copyright House on Dublin's Lower Baggott Street in 2008.

The body was sitting on a €2m deficit at the end of last year.