Oasis Ticket
Six executives from a firm involved in the ticketing and promotion of Oasis’ reunion tour have pocketed a combined £14.8 million in dividends for 2023. The directors at SJM received the payout after the company posted a pre-tax profit of £11.8 million, according to its recently released accounts.
This hefty dividend comes as the band, competition regulators, and MPs criticize companies for implementing dynamic pricing, which caused ticket prices for some gigs in the UK and Ireland to skyrocket from £150 to as high as £350.
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SJM, one of several promoters for Oasis and other major acts like Harry Styles and Coldplay, declined to comment on the dividend. Its 2023 sales rose to £286 million, up from £275 million the previous year, with the directors’ payout doubling from £7.35 million.
Though the dividend doesn’t include earnings from Oasis’ upcoming tour, experts estimate the band’s reunion could generate around £400 million in ticket sales, with SJM expected to claim a portion.
The UK’s competition watchdog has launched an investigation into whether the ticket sales breached consumer protection laws, citing concerns over transparency. Oasis has distanced itself from the dynamic pricing model, claiming they were unaware it would be used. Culture Secretary Lisa Nandy and Irish politicians have also voiced frustration, calling for fairer ticket pricing.
