Sheeran’s €42m gig economy
Huge world tour earnings for Ed
ED Sheeran has made personal profits of €42million from his record-breaking world tour.
It means the star made €117,000 a day on the first year of his best-selling Divide gigs.
The new accounts filed for his company Nathan Cable Touring LLP show the musician’s earnings rocketed up from €1.5million the previous year.
Sheeran paid himself €19million from the profits but the firm is likely to have even more money next year as only three months of 2018 ticket sales are included in the new figures.
Even after his mammoth payout, there is still almost €29million left in the partnership which he can withdraw when he likes.
Divide was revealed to be the world’s best-selling tour last month after it raked in around €375million in ticket sales.
The figures cover the year to March 31 last year which coincides with the first stage of the tour which took in dates in Asia, the US and Europe.
The paperwork states “turnover consists of live performance income,” and it is therefore not thought to include lucrative income from merchandise.
A showbusiness source said: “Ed loves touring and that passion playing live is why so many people want to see him.”
In 2018 the 27-year-old sold 4,860,482 tickets across 53 cities for an all-time record gross of €375million, Pollstar reported.
Sheeran is able to make such huge personal profits as he mostly performs solo while other stars take a huge entourage of musicians and technical support, which reduces personal profits.
He sold nearly double the number of tickets shifted by Taylor Swift and dwarfed the sales of Jay Z, Pink and Bruno Mars.
His tickets were also averaging around €43 cheaper than rivals like Bruno Mars.
In 2017 Sheeran was also named the best-selling and most streamed artist worldwide by the International Federation of the Phonographic Industry.
Max Lousada boss of the star’s record company said last year: “Ed is truly an incredible songwriter, vocalist and performer, whose ability to tell stories and make people feel is what stands him out from the crowd.”