Signature of Streaming Concert Contract

RNS Number : 1974K

Live Company Group PLC

04 May 2022

 

4 May 2022

LIVE COMPANY GROUP PLC

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

SIGNATURE OF STREAMING CONCERT CONTRACT

Live Company Group plc (AIM: LVCG) announces that the Heads of Agreements ("Heads") for the streaming of the KPOP.flex festival in Frankfurt in May 2022 have been signed with Doors Live AB ("Doors") .

The contract, signed between LVCG and Doors will be on a pay-per-view basis on Doors' streaming platform throughout the world (Excluding South Korea)  with Doors being responsible for packaging, marketing and sales of the festival for streaming purposes. Doors will also be responsible for all technical support.

Doors Live AB was founded in 2020 in Stockholm by music, tech and broadcast innovators to shape the future of live online concert experiences and has streamed concerts for Damon Albarn  and the Ark amongst many. 

The interactive online stream, which will take place on 29 May 2022, caters for multiple time zones, facilitates fan specific group chats as well as private chats between friends to amplify a truly global event and will allow fans to get a close-up of some of the incredible performances from the mega festival which include EXO's Kai, Monsta X, ENHYPEN, Mamamoo and many more.

Revenue Generation

Revenue will be generated via a pay per view system with Doors retaining between 38.5 and 35% (dependent on volume of streaming tickets sold) of total net revenue (after costs) with Seoul Broadcasting Service (SBS) retaining between 1.5% and 5.00% and LVCG retaining the 60% balance.

LVCG will be responsible for any costs associated with the streaming rights with the artists and in country publishing rights. However, in the unlikely situation where revenues do not exceed costs the deficit will be solely covered by Doors.

Chairman David Ciclitira commented: "The KPOP.Flex festival in Frankfurt brought to you by KPE, SBS and PK Events is fast approaching.  We are delighted to be working with SBS and Doors to bring our incredible KPOP.Flex performances to the loyal KPOP fans throughout the world. This is the first step together with Doors and I look forward to developing our partnership further as we grow KPOP.Flex across the globe.  "

Enquiries:

Live Company Group Plc David Ciclitira, Executive Chairman Sarah Dees, Chief Operating Officer	Tel: [phone]
Beaumont Cornish Limited (Nominated Adviser) Roland Cornish/Rosalind Hill Abrahams	Tel: [phone]
Monecor (London) Limited (Broker) Thomas Smith	Tel: [phone]

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 four divisions;  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 is Kpop Europa (KPE), which operates the KPOP.flex Festival in Frankfurt.  KPOP.flex Frankfurt is Europe's first ever Mega KPOP music festival.  The third is Live Company Sports and Entertainment, which manages a number of global sports, entertainment and lifestyle events. LCSEs main focus for 2022 will be Cape Town Cycle Tour and the successful  one year out launch of the Formula E Cape Town race for series 9 in 2023.  The fourth division is StART Art Global, in which LVCG holds a minority stake. StART Art Global is a combination of both physical art shows and a digital art platform.

 

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