Second Captains Ltd Posts Modest Profit Despite Fee Reduction
Second Captains Ltd, the company behind the popular podcast, has released details of its 2024 financials. The company, which generates most of its revenue from paying subscribers, saw a modest profit despite a slight decrease in aggregate fees paid to its directors.
The podcast, with 18,694 paying followers, brought in an estimated €1.1 million annually from subscriptions. Despite this, the company's profit in 2024 was a modest €1,067, down from €4,711 in 2023. The decrease can be attributed to a 2% reduction in aggregate fees paid to directors, which totalled €715,000 in 2024, down from €745,000 in 2023.
The five directors, including broadcaster Eoin McDevitt, each received €143,000 in production fees and an additional €22,800 as pay to directors, totalling €165,800 each. The company employed seven people in total, including the five directors and two production staff. Despite the reduction in fees, the directors' shares in the company remain at 20% each.
Second Captains Ltd continues to generate significant revenue from its podcast, with paying subscribers contributing the majority of its income. Despite a slight decrease in fees paid to its directors, the company remains profitable. The directors' shares in the company remain unchanged, indicating a continued commitment to the podcast's success.
