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Live Company Group (LVCG)

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Monday 14 February, 2022

Live Company Group

KPop.Flex Update

RNS Number : 5107B
Live Company Group PLC
14 February 2022
 

 

14 February 2022

 

LIVE COMPANY GROUP PLC

("LVCG", the "Company" or the "Group")

 

KPOP.FLEX UPDATE

 

Live Company Group plc (AIM: LVCG)  is pleased to announce that due to unprecedented demand and a sold out first day a second day for the KPop.Flex festival that will take place in Frankfurt on 14 May 2022 has now been confirmed. Tickets will go on sale tomorrow 15th February 2022.

Artists

Artists for day two include IVE and ONEUS. IVE is a six member girl band formed in 2021 who released their debut album 'Eleven' in December. ONEUS is a six member boy band that formed in 2019 and who have released one album and four mini albums and singles in Korean and Japanese. Both bands have significant social media followings and fan bases. Further artists for day 2 will be announced in due course.

 

Revenue Generation

As previously announced on 9th December 2021, the event is a joint venture agreement with KPE (a 50% subsidiary of LVCG) acting as the Touring Promotor. KPE earns revenue via a number of sources including; 40% of all sponsorship revenue, 100% of the net revenue of event related on-line merchandising, 75% of merchandising at the event, 100% of broadcast and streaming rights (ex-Korea), annual consultancy fees of Euro 200,000 and a 40% percentage of ticket sale profits. Average ticket prices are in the region of Euro 70 per ticket and research indicates that average spend per person on merchandise could be the same amount again. This means that the potential total revenue for all partners assuming day two sells out could be in the region of Euro 6mio for ticket sales alone and close to twice that if merchandise is added.

Investors can see the latest KPop.Flex videos and all information about the KPop.Flex festival can be seen on the company web-site www.livecompanygroup.com.

 

Chairman David Ciclitira Commented:

" The success of KPOP.Flex is proof of our strategy that revenue diversification has the potential to bring significant benefit financially and raises our profile on the global stage within the live music event space. Our conversations on merchandise and streaming [from which the bulk of the net benefit to KPE will be derived] are continuing and I look forward to updating investors in due course.  "

 

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

 

Enquiries:

 

Live Company Group Plc

David Ciclitira, Executive Chairman

Sarah Dees, Chief Operating Officer

Tel: 020 7225 2000

 

 

Beaumont Cornish Limited (Nominated Adviser)

Roland Cornish/Rosalind Hill Abrahams

Tel: 020 7628 3396

 

 

 

 

Monecor (London) Limited (Broker)

Thomas Smith

Tel: 020 7392 1436

 

LIVE COMPANY GROUP

Live Company Group Plc ("LVCG", the "Company" or the "Group") is a live events, entertainment and sports events company, that has been trading on AIM since 2017.

The Group is divided into two divisions the first, BRICKLIVE, consisting of a network of partner-driven fan-based and touring shows using BRICKLIVE created content worldwide. The Company owns the rights to BRICKLIVE - an interactive experience built around the creative ethos of the world's most popular construction toy bricks. The Group is an independent producer of BRICKLIVE and is not associated with the LEGO Group.

The second, LCSE, manages a number of global sports, entertainment and lifestyle events. LCSEs main focus for 2021 has been the successful launch of the Formula E Cape Town race for series 9 in 2023.

It also has a minority investment in Start Art Global Ltd an on-line and physical art and digital art platform (www.start.art).

 

 

 

 

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