Live Company Group PLC KPop.Flex Update (5107B)
February 14 2022 - 3:59AM
UK Regulatory
TIDMLVCG
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
15(th) 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 9(th) 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 Tel: 020 7225 2000
David Ciclitira, Executive Chairman
Sarah Dees, Chief Operating Officer
Beaumont Cornish Limited (Nominated Adviser) Tel: 020 7628 3396
Roland Cornish/Rosalind Hill Abrahams
===================
Monecor (London) Limited (Broker) Tel: 020 7392 1436
Thomas Smith
===================
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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