The bosses of the company which was involved in the controversial ticketing and promotion of Oasis’ reunion tour have shared a huge pay day of almost £15m.
The six directors of Stockport-headquartered SJM were handed a share of a £14.8m dividend for the company’s latest financial year, up from the £7.3m pay out for 2022.
The pay day has been revealed in newly-filed accounts with Companies House which also show the firm achieved a pre-tax profit of £15.3m for 2023, down from £17.7m.
However, its turnover increased from £274.9m to £286.4m during the same 12-month period.
The results were for the financial year before SJM was involved in the promotion of Oasis’ reunion tour.
SJM was co-founded by Chris York and Simon Moran and has promoted shows for the likes of Take That, Spice Girls, Foo Fighters and Stormzy as well as Coldplay, Robbie Williams, Peter Kay, Billie Eilish, Adele and The Killers.
Moran is also the owner of Super League side Warrington Wolves and he is a shareholder in Manchester’s Co-op Live arena.
The parent company of both SJM Concerts and Warrington Wolves, SJM Holdings, reported a turnover of £292.4m, up from £280.5m, while its pre-tax profit remained static at £16.6m.
SJM said its turnover increased after “another very successful year of trading”.
During the year it promoted 1,845 shows, down from 2,160 in 2022.
Oasis ticket seller eyeing bumper 2024
SJM said: “The volume of shows in 2023 was at the expected level after the exceptional number in 2022 due to the additional shows being rescheduled from 2020 and 2021 into 2022.
“The increased turnover reflects the higher number of larger capacity shows in 2023, and the reduction in gross profit margin from 10.4 per cent in 2022 to 8.8 per cent in 2023 reflects a change in sales mix.”
It added: “We are continuing to observe strong demand for live music events and anticipate another successful year ahead, despite the inflationary pressures being experienced within the global economy.”
As well as SJM, MCD Promotions and DF Concerts were also involved in the promotion of Oasis’ reunion tour.
They all have links to LiveNation, the US multinational which owns Ticketmaster.
SJM also owns gigsandtours.com, which was one of the three ticket sellers alongside Ticketmaster and SeeTickets.