The six directors of Stockport-headquartered SJM have received a substantial share of a £14.8m dividend for the company’s most recent financial year. This is a notable increase as compared to the £7.3m payout they received in 2022.
These revelations were made in newly submitted accounts to Companies House, underscoring both SJM’s significant financial achievements and its pivotal role in promoting Oasis’ recent reunion tour.
Significant Financial Gains
SJM directors were awarded a share of a £14.8m dividend for their latest financial year. This figure marks a substantial increase from the previous year’s payout of £7.3m. The newly submitted accounts to Companies House also disclosed that the company’s pre-tax profit slightly decreased to £15.3m from £17.7m in 2022, despite turnover rising from £274.9m to £286.4m.
The surge in dividend payment highlights SJM’s successful year preceding its involvement in promoting the Oasis reunion tour. Co-founders Chris York and Simon Moran have played instrumental roles in steering the company towards these impressive financial results.
Prominent Artist Collaborations
SJM has established itself as a leading promoter, collaborating with high-profile artists such as Take That, Spice Girls, Foo Fighters, Stormzy, Coldplay, Robbie Williams, Peter Kay, Billie Eilish, Adele, and The Killers. These collaborations have significantly contributed to the company’s financial success and reputation in the music industry.
Moran, who also owns a Super League side and holds shares in a well-known arena, has seen the parent company, SJM Holdings, report substantial financial figures. The turnover for SJM Holdings increased from £280.5m to £292.4m, with its pre-tax profit remaining steady at £16.6m.
Factors Behind Increased Turnover
SJM credited its increased turnover to another successful year of trading. The company promoted 1,845 shows during the year, a decrease from 2,160 in 2022. However, this reduction was expected, following an exceptional number of shows in 2022 due to rescheduling from previous years.
SJM commented on its performance, noting that the increased turnover was due to a higher number of larger capacity shows in 2023. Additionally, the gross profit margin dropped from 10.4% in 2022 to 8.8% in 2023, attributed to a change in sales mix.
Looking ahead, SJM anticipates continued strong demand for live music events, despite global economic inflationary pressures. The company remains optimistic about another successful year, reflecting its resilience and adaptability within the industry.
Collaborations with Industry Giants
The report also highlighted the involvement of MCD Promotions and DF Concerts in promoting the Oasis reunion tour alongside SJM. These entities are all connected with LiveNation, the American giant that owns Ticketmaster.
SJM’s collaborative efforts with such substantial industry players underscore its influence and reach. The company’s ability to partner with other renowned promoters is a testament to its established reputation and strategic approach.
SJM’s Online Presence and Services
In addition to promoting live shows, SJM operates gigsandtours.com, a major ticket selling platform. This platform, alongside Ticketmaster and SeeTickets, catered to the ticketing needs of the Oasis reunion tour.
The operation of gigsandtours.com not only demonstrates SJM’s versatile business model but also its commitment to enhancing the overall customer experience in the ticketing process.
Outlook and Future Projections
Despite inflationary pressures globally, SJM remains confident about the future. The company continues to see robust demand for live music events and anticipates another prosperous year ahead. This confidence is supported by the company’s historical performance and strategic planning.
Chris York and Simon Moran’s expertise and leadership continue to drive the company forward, ensuring that it stays at the forefront of the music promotion industry.
Conclusion
The financial success of SJM is evident from the substantial dividends received by its directors. The company’s strategic collaborations and robust business model have significantly contributed to its achievements.
As the company continues to navigate economic challenges and capitalize on opportunities within the live music industry, it remains optimistic about sustaining its growth and success in the future.
The financial success of SJM is evident from the substantial dividends received by its directors. The company’s strategic collaborations and robust business model have significantly contributed to its achievements.
As the company continues to navigate economic challenges and capitalize on opportunities within the live music industry, it remains optimistic about sustaining its growth and success in the future.