If the brothers have been promised £50m each, why would they care about ticket pricing?
Surely they’ve just given the green light for Ticketmaster to maximise their profits through agreeing to dynamic pricing.
Maybe the difference between Sheeran’s approach and Oasis is that Sheeran wants to keep touring for years and Oasis kind of know this is the last hurrah?
I think the way it works is the promoter (SJM) guarantees the artist a certain figure (rumoured to be £50m each).
I think it's standard for promoters to base this guaranteed figure on selling 80% of the tickets at the standard rate.
Then any sales above that are split between the promoter and the artist (I think the split percentages vary).
So it seems what's happened is, SJM have sold 80% of the tickets at the £150 rate to guarantee the advance to the band, and have then absolutely creamed the remaining 20%, maximising their own profits.
Maybe
@Johnny Mars Bar could clarify, but broadly speaking, I'm pretty sure that's how the industry works.
Pretty sure the band and their management are complicit, but likely driven by SJM and facilitated by Ticketmaster.
One, or all of them should have been transparent about this strategy from the start, because millions wouldn't have wasted all day waiting in a queue had they known the prices had doubled.