(Alliance News) - All ThingsConsidered Group PLC on Friday reported increased revenue and a swing to a small profit instead of the narrowed loss it expected, crediting its "resilient business platform" and the music industry's return to full-capacity touring.
All ThingsConsidered is a London-based music company providing artists with talent management, live booking and livestreaming services.
All ThingsConsidered reported a pretax profit of GBP10,012 for 2022, swung from a loss of GBP3.3 million in 2021. In February, the company had predicted a significantly narrowed pretax loss.
Revenue increased by 33% to GBP12.1 million from GBP9.1 million. All ThingsConsidered said this included a 77% rise in revenue from artist representation to GBP6.6 million from GBP3.7 million. Revenue from services more than quadrupled to GBP2.9 million from GBP778,502.
All ThingsConsidered said its live event booking agency ATC Live is now the world's sixth largest touring agency. It attributed growth to the music industry's backlog of shows and the return to full-capacity touring in the second quarter, following the Covid-19 pandemic.
All ThingsConsidered did not declare a dividend for 2022, unchanged from the prior year.
All ThingsConsidered said trading in 2023 so far is in line with expectations. ATC Live is anticipated to deliver around 6,000 live shows. All ThingsConsidered will aim to capitalise on multiple revenue opportunities within the growing global music industry.
Chief Executive Officer Adam Driscoll commented: "The new year has started with continued positive momentum and a pipeline of exciting projects and opportunities. As the music industry continues to undergo rapid change, we believe there is substantial opportunity to co-create, co-produce and deliver new IP via events and experiences, underpinned by our multi-service approach across artists' commercial interests. We look ahead with confidence in the group's growth prospects."
Shares in All ThingsConsidered were untraded on Aquis Stock Exchange in London on Friday at 92.50 pence. It has a market capitalisation of GBP8.9 million.
By Emma Curzon, Alliance News reporter
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