Six bosses of a company involved in the controversial ticketing and promotion of the Oasis reunion tour have been awarded a total dividend of £14.8m for 2023.
SJM made pre-tax profits of £11.8m, with directors receiving the dividend, according to last year’s accounts published on Thursday.
This payout is not related to next year’s Oasis Tour and is as follows: band, Contest watchdogMPs have slammed some companies over dynamic ticket prices for shows across the UK and Ireland.
Brawls ensued after fans discovered they were being asked to pay around £350 for some tickets that were originally advertised for around £150.
SJM declined to comment on the dividend payment.
The company also promotes and sells tickets for a range of other gigs and performances by artists including Harry Styles, Coldplay and Little Simz.
Dividends on the SJM account apply to 2023, with sales climbing to £275m in that period from £286m in 2022.
The dividend to the six directors was more than double last year’s £7.35m dividend.
Revenue for 2023 does not include promotional costs for the Oasis tour, which experts predict could be a huge expense.
Birmingham City University estimates that the initial tour dates could generate around £400m in ticket sales and other ancillary revenue, of which SJM will take a share.
SJM, led by ticket promoter Simon James Moran, is one of them Multiple companies involved in promoting Oasis reunion tour and selling tickets.
The companies involved in these operations are all related to LiveNation, an American multinational company that owns Ticketmaster.
The other two promoters are MCD Promotions and DF Concerts. In addition, SJM also owns gigsandtours.com, which is one of the three largest ticket sellers along with Ticketmaster and SeeTickets.
The official competition watchdog has launched an investigation into whether the sale of Oasis tickets breached consumer protection laws and said it was “concerned about whether buyers were receiving clear and timely information”.
Oasis said they “never realized” dynamic pricing would be used in ticket sales for the initial dates.
Meanwhile, Culture Secretary Lisa Nandy said she wanted to ensure tickets were sold “at a fair price”.
Irish politicians also criticized the sale Some standing tickets at Dublin’s Croke Park have risen from €176 (£148) in advance to more than €400 (£337).
