Accumulated profits at the "miracle" YouTube business created by Limerick millionaire Youtuber Daithi De Nogla last year surged to €3.22m.
New accounts show that De Nogla's DDN Direct Ltd recorded post tax profits of €528,717 for 2022 - or just over €10,160 per week on average.
The profit of €528,717 for last year at the firm owned by the 31 year old is almost a five fold increase on the post tax profits of €106,665 for 2021.
This is not bad for someone who dropped out after the first year of a four year Early Childhood Care and Education course at the Institute of Technology at Tralee (ITT).
In an interview today, Mr De Nogla - aka David Nagle - said: "My family is very proud of me. My dad told me lately 'It’s a miracle what you have done, it’s a miracle'."
Mr De Nogla’s business is now very much a family affair where he employs his two brothers, Eoin and Andrew, while his mother is also on the payroll
The new accounts show that the company now employs four and staff costs last year increased from €281,933 to €314,519.
Pay to directors increased from €216,452 to €255,808. The company last year splashed out a new property with a book value of €985,501.
The property payout contributed to cash funds at the business reducing from €1.3m to €889,818.
Mr De Nogla credits the increase in profits in 2022 to the creation of new YouTube channels last year.
De Nogla said that he started off with one channel and now has three channels and plans to open a fourth channel next week.
The original Nogla channel has 7.38 million subscribers and Mr De Nogla said that subscribers on his original channel are stagnant but a new channel set up with another Irish Youtuber, Terroriser, has generated around 750,000 subs in a year "and we are happy with that".
Mr De Nogla splits his time between Limerick and Los Angeles. Speaking from LA he said: "The business is ever evolving. It is a case or adapt or die. I am very blessed and I am really happy. I am 12 years at this, but I feel I am on an upward trajectory."
Mr De Nogla said that business in 2023 "has been a little tougher".
He said with so many people now fully out of the pandemic, people are out more and "spending less time on phones. I think that is good for society but not good for my business".
The firm generates its revenues from payments from YouTube along with endorsements the firm enters with sponsors.
Reporting by Gordon Deegan
