Live Company Group PLC KPop Lux - New Joint Venture (7157P)
February 13 2023 - 2:50AM
UK Regulatory
TIDMLVCG
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(c) 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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