Concert promotions giant SJM looks to build on £15m profit
The concert promotions business behind the headline grabbing Oasis reunion made over £15m pre-tax profits on higher turnover of £268m in the financial year ending December 2023.
SJM, the Manchester-based business, said: “We are continuing to observe strong demand for live music events and anticipate another successful year ahead, despite the inflationary pressures being experienced in the global economy.
Manchester-based SJM Concerts is one of the largest concert promoters in the UK, offering more than 2,000 concerts during year.
The volume of concerts in 2023 dropped from 2022 levels due to the number of concerts being postponed and rescheduled during the pandemic. Margins dropped from 10.4% to 8.8%.
As well as punting Oasis, the company founder and CEO Simon Moran is personally putting his weight behind Irish band The Mary Wallopers, who he hopes will fill a “Pogues shaped hole” in the music scene.
The accounts of the holding company also revealed that SJM North lost £1.7m in Warrington Wolves Rugby League Club on total income of £6.3m. The club narrowly won its play off game v St Helens at the weekend, lining up a semi-final tie against Hull KR on Friday.
The accounts, audited by Stockport-based firm Hurst showed the group also made charitable donations of £351, 117 in the year.
The Oasis reunion next year will be a huge boost for SJM and US-based giant Live Nation, which are promoting the tour.
Music industry estimates put the windfall for the formerly feuding Gallagher brothers at £50m each.
‘Today is gonna be the day’
The first teaser image of in Oasis style graphics was made after a concert by Stockport band Blossoms, promoted by SJM.
Founded by Simon Moran, also the chairman of Warrington Wolves Rugby League club, the company partners with other promoters.
The previous set of accounts filed at Companies House show that the business made £17.7m of pre-tax profit on turnover of £275m for the year ending December 2022.
