The six directors of a firm involved in the ticketing and promotion of Oasis’ reunion tour have received a total dividend of £14.8m for 2023. This payout came after the firm, SJM, made a £11.8m pre-tax profit last year, as reported in its accounts.
The controversy surrounding the dynamic ticket pricing for the Oasis tour has sparked outrage from fans, the band, competition watchdogs, and MPs. Fans were shocked to discover prices as high as £350 for tickets initially advertised around £150.
SJM, the company behind the dividends, declined to comment on the payout. The firm also promotes other gigs for artists like Harry Styles, Coldplay, and Little Simz. Sales for SJM climbed to £286m in 2023 from £275m in 2022.
The dividend for the six directors more than doubled from the previous year, signaling significant growth. Additionally, the revenue from 2023 does not include fees for promoting Oasis’ upcoming tour, which experts predict could bring in around £400m.
Headed by Simon James Moran, SJM is one of several companies involved in promoting the Oasis reunion tour. The official competition watchdog is investigating whether the ticket sales breached consumer protection laws.
Despite the controversy, Oasis stated they were unaware of the dynamic pricing used for ticket sales. Culture Secretary Lisa Nandy expressed a desire for fair ticket prices, with Irish politicians also criticizing the rising ticket costs.
