Live Company Group PLC Signature of Streaming Concert Contract (1974K)
04 May 2022 - 4:02PM
UK Regulatory
TIDMLVCG
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 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 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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