Accumulated profits climb to €3.7m at Hozier firm
Irish musician sees live performance income severely impacted by Covid-19 restrictions
Hozier toured extensively in the US and Europe last year, promoting his Wasteland Baby! album.
Accumulated profits at the main Irish-based entertainment firm owned by Irish singer Hozier rose to just over €3.7 million last year.
Accounts filed by Haskey Ltd show the artist tripled his pay on the back of the success of his Wasteland Baby! album released in March last year and debuted at number one on both sides of the Atlantic.
The figures show that his pay, including pension, increased by 216 per cent from €142,337 to €449,347.
This consisted of remuneration of €339,347 and pension payments of €100,000 compared to remuneration of €142,337 and zero pension payments in 2018.
Cash funds at the company last year increased from €2.1 million to €2.22 million and the value of the firm’s financial assets last year increased by €277,247 from €971,647 to €1.248 million.
The hike in pay for Hozier last year contributed to after-tax profits for the 12 months to the end of December 2019, decreasing by 73 per cent to €21,289.
Profits in 2017 were €654,865, following profits of €1.12 million in 2016 and €1.38 million in 2015.
Hozier toured extensively in the US and Europe last year, promoting his Wasteland Baby! album. However, Hozier – along with every other artist – has seen his income from live performance severely impacted by the pandemic .
A note attached to the accounts – signed off earlier this month – states that Covid-19 has resulted in travel and border restrictions, quarantines, supply chain disruptions, lower consumer demand, lockdown of economic activity and general market uncertainty. The directors believe that the company has sufficient liquidity to meet its obligations.