A company owned by U2 recorded a €1.4 million loss last year, bringing accumulated losses to €25.4 million.
The company is involved in the promotion of the band’s activities and is the parent company of a series of other U2-owned Dublin-based companies.
U2 were among the top-selling touring bands in the world in 2024. Their residency at the Las Vegas Sphere in late 2023 and early 2024 generated sales of more than $230 million (€195 million) and sold more than 630,000 tickets, Billboard said.
Not Us Limited is owned by Bono, David Howell Evans, called The Edge, Larry Mullen and Adam Clayton, who each hold a quarter share in the business. The company has 10 employees.
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Not Us Limited has debts of nearly €7.7 million, but most of that, €6.9 million, is owed to the company by other U2-owned entities. The company also owes €21.3 million to its subsidiaries and a combined €11.8 million to related parties and directors’ loans.
These interparty loans are interest-free and repayable on demand, the accounts signed by Bono and The Edge in August say.
The assets owned by Not Us Ltd showed a net depreciation in value during the year. The band’s musical equipment, once valued at about €266,000, now has a book value of just over €2,100. Computer equipment once valued at nearly €171,500 has dropped in value to €13,200.
Most of the company’s €675,000 asset value comes from improvements they have made to the company’s leasehold properties, which retain a value of close to €620,000.
U2 Limited, a subsidiary of Not Us Limited, which holds the licence rights to the band’s music, was advanced €3.2 million by the band members, which it states are both employees and its shareholders.
The company, which is involved in the “creation, protection and licensing” of the band’s intellectual property, paid expenses of nearly €250,000 on behalf of its employees.
It holds the rights to music master recordings of the band, which hold a cost of €643,400, but at the end of 2024 had entirely depreciated and held no book value.
Similarly, the leasehold property and studio live room owned by U2 Limited have entirely depreciated while other assets retain a nominal value.
The company’s assets, once costing more than €1.5 million, hold a net book value of €33,000.
