TIDMATC
RNS Number : 0889P
All Things Considered Group PLC
07 February 2023
7 February 2023
All Things Considered Group Plc
("ATC", the "Company" or the "Group")
FY22 Trading Update
Continued growth in line with expectations and strategic
advancements
All Things Considered G roup Plc (AQSE: ATC), an independent
music company housing talent management, live booking,
livestreaming and talent services, is pleased to provide an update
on trading for the year ended 31 December 2022.
The Board expects to report FY22 results in line with market
expectations*, with double-digit revenue growth and a significantly
improved adjusted loss before tax. The improving trading conditions
seen in the first half of the year continued through the second
half as markets continued to get back to normal and live touring
resumed. Strong progress was achieved in the Group's core artist
management and development business with the recruitment of talent
representatives supporting new client acquisition.
ATC's livestreaming investment, Driift, cemented its position in
the industry following a landmark year acquiring technology and
commerce platform, Dreamstage, and attracting a GBP4m investment by
streaming platform Deezer. ATC now holds 32.5% of the enlarged
Driift business.
Investment in the Group's operations and business divisions
continued in line with management's strategy to build an
integrated, full-service artist offering. During the year the Group
launched new complementary divisions, including ATC Experience, and
invested in personnel to bolster capacity to support growth
plans.
The Group retains a net cash balance of GBP1.3m at year end
excluding long term debt.
The Group expects to report audited results for the year ended
31 December 2022 in late April.
Adam Driscoll, CEO of All Things Considered, commented: "I am
pleased with the progress we have made in the year, including a
number of key operational and strategic achievements combined with
the continued growth of our artist representation business. We
continued to add to our artist rosters by attracting the best
managers and agents into our business, as our ethos of 'empowering
creators' continues to be a magnet for talent.
"We are excited about the prospects ahead for Driift as the
livestreaming sector sees renewed demand with the re-emergence of
live touring. With a solidified balance sheet, best-in-class
technology platform and industry leading partnership, the business
is positioned to scale.
"As we look ahead, we remain mindful of the wider economic
backdrop across our geographies. However, our diversified approach
across artists' commercial interests and established track record
means we continue to be well placed to capitalise on organic and
acquisitional growth opportunities in a rapidly evolving and
fragmented music industry."
*Market consensus for the year ended 31 December 2022 is revenue
of GBP11.0m and adjusted loss before tax of GBP0.3m.
This announcement contains information that the Company
considers to be inside information related to the Group for the
purposes of article 7 of the Market Abuse Regulation (EU) 596/2014
as amended by regulation 11 of the Market Abuse (Amendment) (EU
Exit) Regulations 2019/310. With the publication of this
announcement, this information is now considered to be in the
public domain.
-ENDS-
For more information, please contact:
ATC Group Via Alma PR
Adam Driscoll, CEO
Rameses Villanueva, CFO
Canaccord Genuity +44(0)20 7523 8000
Aquis Corporate Adviser and Broker
Adam James / Patrick Dolaghan
Alma PR +44(0)20 3405 0205
Financial PR
Hilary Buchanan / Justine James
Notes to Editors
About ATC
ATC Group is the only independently owned company in the
industry housing talent management, live booking, livestreaming and
talent services within the same group. The Group is headquartered
in London, with offices in Los Angeles, New York and Copenhagen and
is led by an experienced management team who have operated across
multiple music industry sectors.
The Company has an established, long-standing client base with
over 80 artists on its management roster and over 450 acts on the
live roster. The Group's six key divisions, grouped under two
segments, are:
-- Artist management and development
o ATC Management - artist management
o ATC Live - live event booking agency for artists
o ATC Services - promotional, agency services and technology
solutions provider
o ATC Experience - creator and distributor of artist-led digital
and in-person experiences
o Polyphonic - an artist partnerships venture
-- Live streamed events
o Driift - a global livestreaming business, and Flymachine, a
livestreaming platform
For more information see: www.atcgroupplc.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NEXEAFAKEDADEAA
(END) Dow Jones Newswires
February 07, 2023 02:00 ET (07:00 GMT)
All Things Considered (AQSE:ATC)
Historical Stock Chart
From Nov 2024 to Dec 2024
All Things Considered (AQSE:ATC)
Historical Stock Chart
From Dec 2023 to Dec 2024
