According to the latest accounts for Second Captains Ltd, the company that produces the podcasts, significant payments were made to connected companies owned by Mr McDevitt, Ken Early, Ciaran Murphy, Simon Hick, and Mark Horgan. Each of these companies received €124,000 in fees for their production work on behalf of Second Captains Ltd in the previous year. This amount represents a 12% increase from the €111,000 paid out in 2021.
Additionally, the five directors shared an aggregate amount of €72,000 in pay last year, averaging €14,400 each. These figures reflect the thriving state of the podcast business in 2022.
In 2022, the company’s cash funds saw a significant increase from €239,070 to €321,585, underscoring its successful year. Despite various expenses, Second Captains Ltd recorded a modest profit of €1,947 for the year. The accumulated profits at the end of the year amounted to €46,418.
Recently, the podcast celebrated its 10th anniversary with a sold-out live show at Dublin’s Olympia theatre, featuring renowned figures like Liverpool legend Graeme Souness.
Each of the five Second Captains directors holds a 20% share in the company, with the bulk of its revenue generated through subscriber fees. The company’s principal activity is focused on online content, radio, television, and live event production.
Since launching its paid subscription service in February 2017, Second Captains has remained steadfast, maintaining the same €5 monthly (plus VAT) charge for its range of podcasts, despite rising inflation. The revenue generated from paying subscribers has enabled the company to undertake long-term investigative projects such as the highly acclaimed series “Where Is George Gibney?” for BBC Sounds.
According to the Second Captains website, the company currently boasts 14,250 subscribers. Based on the €5 monthly charge, this translates to an estimated annual revenue of €855,000.
Apart from its own podcasts, Second Captains Ltd was involved in producing programming for RTÉ, creating nine hours of “Second Captains Saturday” on RTÉ Radio 1 in 2022. The company has a successful track record, having won nine PPI national radio awards during its tenure as the producer and presenter of the Off The Ball show on Newstalk radio for eight years. After leaving the station in 2013 and working briefly with The Irish Times, they eventually became an independent entity in 2017.
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