Touring Unprofitable for The Cranberries

September 14, 2003  |  Comments Off on Touring Unprofitable for The Cranberries  |  by Zombieguide Archives  |  The Cranberries

In an article published in Ireland’s “Sunday Tribune” this past June, the newspaper claims that touring in recent years for The Cranberries has not been very profitable — in fact, the article claims, the band has lost money in tour expenses.

Public accounts for Curtain Call Ltd., the band’s in-house money management company, for the years 2000 and 2001 show that touring in 2000, which consisted mostly of European summer festivals, generated a gross profit of €3.7 million.

However, the hefty costs for travel and lodging, a whopping €1.3 million, quickly wiped out over a third of that touring profit. Crew expeses during the 2000 tour were €609,000, while the comparatively smaller 2001 promo tour drained another €224,000 in crew costs. Sound and lighting equipment costs totalled €308,000, while trucking came to €145,000. The band lost an additional €308,000 for the two years due to foreign currency exchange.

The band’s management received nearly €1 million in commission for the two years. The band paid €189,000 in other wages and an additional€436,000 to video directors. The article also notes that production costs for the “Beneath the Skin” DVD totalled €375,000.

In all, The Cranberries accumulated €3.86 million in touring expenses with only €3.7 million profit. Some simple math will show that the band lost approximately €160,000 on their 2000 and 2001 tours.

But the news is not all bad — after all, the band makes a healthy profit off their album sales. “The Sunday Tribune” cites that the band received a €3.9 million recording advance as part of their 2000 contract with MCA Records. Studio costs came to €276,000 while recording “Wake Up and Smell the Coffee.” No word on how much the band received as commission from actual sales of the CD.

“The Sunday Tribune” cites promoter Peter Aiken as saying, “It is the bands who make off with the lion’s share of the cash from concerts.” Aikenpromoted the band’s concert in Belfast this past May, and was spottedhanging out with Dolores and Don at a Bruce Springsteen concert in May.

Source: The Sunday Tribune (Ireland)

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