One Direction Stars Earn Over $1M a Week, Financial Records Reveal
Christian George Acevedo | | Oct 23, 2014 11:39 AM EDT |
(Photo : Reuters) One Direction
One Direction, UK's biggest male band since the Beatles, earned over US$1.6 million (£1 million) each week in 2013, thanks to their ever rising popularity, which also meant getting their pay raise three-fold, MailOnline reports.
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The boy band's huge fee, filed by their company 1D Media, propels band members Harry Styles, Zayn Malik, Louis Tomlinson, Liam Payne and Niall Horan on top of Britain's highest-earning act.
Their immense popularity worldwide translates to their sold-out concerts, top selling merchandise, almost-unending sponsorships, flattering record sales and royalties. Then, there was also their 3D film, strong social media presence and their third studio album to make things look even better (and their career's future brighter).
All in all, financial documents filed at London's Companies House revealed that the group earned an eye-popping £49,093,233 (over $78 million) from their UK sales alone. They also earned £3.58 million (almost $6 million) in the US and £548,820 (almost $900 thousand) from other parts of the world.
Their 2013 earnings saw their income rose three folds compared to their 2012 earnings, which was a paltry £18.1 (around $29 million) million.
Each of the boys also pocketed £5.6 million (roughly $9 million) as salary for serving as their own company's directors.
Interestingly, the group only paid £1 million (roughly $1.6 million).
Less administrative costs, the company had a net income of £3.75 million (around $6 million), four times higher than their 2012 profits.
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