Broadcaster Eoin McDevitt and his four colleagues from the Second Captains podcast shared a production fee of €555,000 last year.
New accounts for the company behind the podcasts under the Second Captains banner, Second Captains Ltd, show that the connected companies owned by McDevitt, Ken Early, Ciaran Murphy, Simon Hick and Mark Horgan each received €111,000 in fees for the production work done on behalf of Second Captains Ltd last year.
The €111,000 paid in fees was a 24% increase over the €83,000 Second Captains Ltd each paid to the five companies during the pandemic hit of 2020.
However, the 2020 payment was a sharp decrease from the €131,000 paid to each of the five director firms in 2019.
The five also shared a further total of €72,000 in pay to directors last year, an average of €14,400 each.
The company’s cash holdings last year more than doubled, from €115,517 to €239,070.
After paying the companies for directors and other costs, the company posted a modest profit of €2,966 for the year. Accumulated profit at the end of last year stood at €44,471.
Each of the five has a 20 percent stake in the company, and the podcast company generates most of its revenue from paying subscribers.
The accounts indicate that the main activity of the company is the production of online content, radio, television and live events.
The podcast launched its paid subscription service in February 2017 and on day one had attracted 2,500 subscribers.
Subscribers pay €5 per month plus VAT for a variety of podcasts and the income from paying subscribers has enabled the company to undertake longer-term research projects such as its acclaimed series ‘Where’s George Gibney?’ for BBC Sounds.
The Second Captains team originally produced and hosted the Off The Ball show on Newstalk radio for eight years, winning nine PPI National Radio Awards during that time.
They left the station in 2013 and subsequently moved to The Irish Times before becoming independent in 2017.
Commenting on the success of the Second Captains podcast, the CEO of Dublin-based events, networking and publishing company Sport for Business, Rob Hartnett stated: “The success of any medium comes down to the content. Theirs is relevant to the audience, consistent in terms of when it comes out, and always high quality.”