REG - Live Company Group - KPop Lux - New Joint Venture

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13/02/2023 09:00

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RNS Number : 7157P  Live Company Group PLC  13 February 2023

13(th) February 2023

 

LIVE COMPANY GROUP PLC

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

 

KPOP LUX - NEW JOINT VENTURE

 

LVCG is delighted to announce that KPOP LUX Limited ('KPL'), a division of
Live Company Group that organises, promotes, and co-promotes K-pop concerts in
Europe and Asia, have signed a new agreement with a branding and promotional
business Birdman Inc. Birdman Inc is listed on the MOTHERS (growth) segment of
the Tokyo Stock Exchange under number 7063.

KPL and Birdman Inc intend to collaborate on the staging and promotion of an
annual K-Pop concert to take place in Nagoya, Japan on each of 10(th) and
11(th) June 2023 to be called 'KPOP LUX© in Nagoya', ("Concert"), during a
four-year term.

KPL will act as Executive Producer of the concert and in this capacity will
enter into a separate agreement with Live Company Korea (LVK) pursuant to
which LVK is appointed to identify and contract with the K-Pop artists
("Artists") appearing at the concert. The agreement between KPL and Birdman
Inc is conditional on the agreement between KPL and LVK being signed by 17
February 2023. In 2023 there will be a minimum of seven mutually agreed groups
and/or individual Artists performing at the Concert each day (at least two "S"
level Artists, three "A" level Artists and two rookie-level Artists per day.)
S Level artists are the most popular and well-known artists in the K-POP
world.

In return for providing the brand name and establishing a digital and PR
strategy internationally KPOP LUX will receive a licence fee of $1,000,000
payable in three tranches: $450,000 immediately due, $300,000 on 31 March 2023
and $250,000 on 30 April 2023. All ticket revenue for the concert will go to
Birdman Inc.

Birdman Inc will be responsible for staging the Concert in Nagoya, the
contract and hire of the Venue and all related costs and promotion throughout
Japan as well as being responsible for selling 100% of the tickets. Subject to
paying its contractual commitments, Birdman Inc will retain the monies from
the ticket sales.

Additional revenue will be generated via merchandise, sponsorship (Birdman Inc
will receive commission for any Japanese Sponsorship they arrange) TV
broadcasting and streaming and a profit share. KPL shall own all copyright and
commercial rights in the Concert (including live streaming rights distribution
rights, merchandise rights and sponsorship rights). Birdman Inc can retain 40%
of the net revenues for Concert Mark merchandising at the venue.

While K-pop has existed for decades, last few years the genre has spread
globally amassing armies of fans and it has exploded onto the music scene in
Japan where spend per ticket including merchandise spend is significantly
higher than in other countries.

Chairman David Ciclitira commented: "I am delighted to team up with KBS to
bring an iconic festival to Japan".

 

CEO Akihiro Date CEO of Birdman Inc commented: "I am so excited about this
partnership with LVCG which will provide me with the exclusive rights to stage
KPOP LUX in Nagoya for a four-year term. I can't wait to bring KPOP LUX to the
Japanese fans who are hungry for more KPOP concerts - being the second largest
KPOP fan base outside of South Korea"

 

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

 Oval(X) (Broker)                              Tel: 020 7392 1436

 Thomas Smith

 

 

About 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.

 

·    KPOP -  the company owns the rights to the K.Flex brand and through
its joint venture with the Explorado group KPOP Europa (KPE) is a partner in
and the Executive Producer of K.Flex in Frankfurt.

LVCG also owns the brand KPOP Lux and is the executive producer of KPOP Lux in
Madrid and London. Both of these shows are produced in partnership with SBS -
the Korean television network. The Company organises an annual Japanese KPOP
festival called KPOP Lux Nagoya in partnership with Birdman - a leading
advertising and entertainment company based in Tokyo.

 

·    StART Art Global (SAG) - SAG owns StART Art Fair in London which has
been staged over the last 9 years at the Saatchi Gallery. SAG has licensed the
rights to the StART brand in Korea. The licence includes the right to create
and run StART Art Fair Seoul and various StART+ exhibitions.

SAG has also licensed the right to the StART brand in Japan to Live Company
Japan a joint venture with M Group Holdings Co.

SAG has also licensed the brand to Live Company Korea to create the StART Art
Coin.

 

·    Live Company Sports and Entertainment (LCSE) - LCSE owns LCSE Pty in
South Africa which has a long-term relationship with Pick 'n' Pay and the
Ocean Race.

LVCG is a founder shareholder in E-Movement - the promoter of the Formula E
Race in Cape Town. As part of this relationship E-Movement has retained LCSE
(through E-Movement holdings) as its implementation partner. E-Movement
Holdings a 100% subsidiary of Live Company Group has the right to sell
sponsorship for the Formula E race in Cape Town.

 

 

 

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