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It clearly isn't ideal Bennster but what do you think was the alternative? O2 wanted upfront money. Would you prefer they issued equity at 2p (or less). We can only hope it is a successful event financially and cashflow is managed appropriately so we are not in that position again. If BL doesn't show a profit this year I'd be tempted to sell some of it.
Also LVCG taking the gamble financially should mean more sway with the bands/SBS. I've always had the impression we dance completely to their tune and I think there needs to be more influence from lvcg. And I'm talking directly about the timing of when bands are announced, rather than holding it back or drip feeding names.
I also think bands should be cut into the streaming revenue, in exchange for them plugging it on their socials and offering some exclusive behind the scenes type bonuses. Everyone is leaving money on the table by not doing this IMO.
*even you
Hopefully by Friday, we'll have more artists announced. I doubt lvcg have much control over when things are announced, but it should be obvious to anyone that getting tickets on sale this close to the gig happening requires the full line ups asap.
Some big followers for bands announced so far:
TXT 14.8 m followers
The Boyz 4m
ITZY 19.3 m
Enhyphen were biggest Madrid by far at 13m.
I'm sure if you simple aka Mr Grumble can see the positives in those numbers.
Well thank f for that!
Now we just hope for a top line up and then the rest will fall into place.
They need to give an update to fans and shareholders one way or the other next week and ASAP.
Share is suspended and this London announcement delayed, with no explanation is not good enough towards shareholders (again) not to mention the delay is damaging the brand with fans.
Where is the communication DC and team? Turning open goals into own goals. Sort your **** out asap ffs and communicate.
What are you trying to achieve truth bomb?
How realistic is it that they release financials on an event that happened less than 10 days ago?
And London - there are multiple partners to bring together. Just because things haven’t been confirmed, ie bands involved, doesn’t mean that hasn’t been confirmed behind the scenes.
All you’re doing is trying to scare monger and speculate, when the markets aren’t even open. Get a life!
Maybe picking flies but this magazine thing I'm not too interested in. I would rather they release any full updates via RNS. Both is fine but RNS first please.
Wordsmith in charge of RNS write ups strikes again, with the uncanny ability of giving a negative slant on things, regardless of the message.
Good to see the Madrid concert completed without any major hitches. These fans are crazy but I am guessing it comes with the territory of operating in these 'teeny boppa' markets. Not easy managing expectations for crazy people. Looking at the videos, I think worst case scenario 75% ticket sales.
On the wish list for me is now a Trading Update for Madrid, complete with a statement on the current cash position.
London will hopefully be on sale very soon, now Madrid is done. There was alot of talk on the line up for this one. If the artists are as good as DC intimated and judging by the constant London comments in the Madrid chats, I think we'll see a sell out for this one.
He did say that yes. But will updating us lowly commoners be a priority to him, with all the commotion and shmusing on the day, not so sure. Hopefully my cynicism is wrong. As I say, he also said in the same interview that London was going on sale early July. No sign of any build up to that yet, 3 weeks in.
So long as we get a Madrid TU in the form of an RNS within 4 weeks then I'll be happy.
Yes indeed. It has always been July so if it were to go over, they need to give courtesy to shareholders and advise in good time.
Not sure why London isn't on sale yet, given DC said early July. Putting a date out there when there is a chance you might not be able to keep to it....I don't know why you would do it.
DC did say he's not in the business of holding loads of dates/festivals but its easy to see how it scales up. The ability to confidently add different dates hinges on the level of groups on offer. For example, if Madrid held 2 dates this year, then we're likely in the realms of Frankfurt profitability last year but clearly lessons were learnt all round and we're in much better shape this year.
Good news today on the sponsorship. KIA and Samsung, the two biggest Korean brands out there.
London news can't be far away now either.
The key is the artists promoting it, but then depends what deal they have I guess. Some of the 90% revenue must be going in their direction.
Streaming could be the game changer. Let's hope so. Frictionless scalability. And partnered with the most likely suitor to buy the business to boot. Great RNS.
A pleasant surprise. Let's hope we're in for a few more in the coming months!
All adds to the bottom line. Seems a no brainer that they will beat the BN estimates, considering the below comments from the BN....
'The upside potential from merchandising and streaming revenues is not yet fully captured in our forecasts. As such we believe these are relatively conservative and that LVCG will deliver strong performance against this basecase forecast model.'
So we have £1.25m profit for 2023 forecast, then £4.3m 2024 and £7m profit 2025. PROFIT you say....on AIM. Surely not.
Market cap £5m. Bonkers
Yes already in profit but to get to the BN estimate, I am guessing they will need to sell more. Perhaps difficult to judge how many more, but at least all of the higher priced tickets have gone, which is a big positive.
I think it is hopeful that the Live Streaming for Madrid attracts plenty of South American interest, but hopefully yes, a festival held in South America seems like it would be an obvious target if any new venues are to be added next year. BN assumes an additional day of concerts each for Madrid and Frankfurt in 2024.
I think the bottom line is they need to sell more tickets for Madrid and then London needs to sell equally well, then everything should be ok for brokers note figures to be hit, which, if they announce profits of £1m+ will rerate the SP. If tickets don't sell well, then we'll continue along the current path of SP and sentiment.
I asked whether they would release a TU after the event and he answered that he'd do one from the arena. Which feels like a promise that won't be kept. So long as they report the financials within 4 weeks of Madrid I'll be happy.
Streaming is the wildcard in the background. And Formula E sponsorship. We don't really know how big either of these deals will be. Lets hope they are big, as shareholders are due something to be pleasantly surprised about. I'm not expecting much from the merch, based on the fans comments, but then they whinge at everything.
I am hoping figures will be out in July/August for Madrid in the form of a Trading Update. DC said reconciliations will be be much quicker for Madrid, compared with Frankfurt last year.
This will be a question I will be asking, whether there are plans for a TU following Madrid that is going to state profit for the event.
Agree that only numbers will ignite the rerate though (and maintain it). Their previous behaviour indicates they don't care much about valuation and comms, so we'll wait and see.
And to the doom mongers, ticketmaster is there for all to see.
Simple - DC should have come out and added context to the RNS. I understand the nomad were restrictive in the wording and that this is normal practise when announcing a matter such as change of auditor. It stated however the current auditor resigned, which is apparently not the case and it was a case of the auditor being upgraded by lvcg, which I'm sure you'll agree puts a different slant on things.
Why stick the boot in on days like this though. Bids has had a mare the past few days by the look of it, but I wouldn't dream of rubbing peoples noses in it. That is a business with real problems by the look of it, unlike here it could be argued, which is suffering more from a lack of resources, planning and terrible communication, instead of existential problems with its business model.
If what Sarah said is true, and they have passed 'extensive due diligence with flying colours' with a top 10 auditor, then this is all just short term noise and value will right out in the end. Ideal for a trade, on days like this. Shame I'm skint!