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As to Japan, the popularity of KPOP is off the scale IMO. Take Enhypen (who are performing in Madrid) their show in Japan sold out in minutes.

https://twitter.com/en_concert/status/1611593708700372992?s=20

#ENHYPEN’s Kyocera Dome Tour sold out within 5 mins for general sale for both dates!

🏟️ It’s a venue with 55k seating capacity, so potentially 110,000 seats were sold + live viewing in theaters in Japan and Korea.

🤯😱❤️‍🔥

#엔하이픈

@ENHYPEN

@ENHYPEN_members

Https://www.globenewswire.com/en/news-release/2023/03/17/2629544/0/en/Global-K-Pop-Events-Market-Is-Expected-to-Generate-20-Billion-by-2031-Allied-Market-Research.html

Global K-Pop Events Market Is Expected to Generate $20 Billion by 2031: Allied Market Research

The market for K-Pop events is projected to experience substantial growth, fueled by the growing number of live music performances by K-Pop musicians who heavily rely on such shows for their livelihood. As a consequence, numerous music concerts and shows are being held worldwide, with the youth population showing a particular inclination toward attending K-Pop events. The rising consumer spending on entertainment, especially among young people, is contributing to the increased sales revenues in the global K-Pop events market

“KPOP is a fad”. Good luck with that view.

https://www.nme.com/news/music/europe-reportedly-k-pop-fastest-growing-market-3412336

A new report has shown Europe as the fastest growing market for K-pop and other Korean pop culture content – or “hallyu”. According to non-profit organisation Korea Foundation’s annual Global Hallyu report, published in cooperation with the Soiuth Korean Ministry of Foreign Affairs, there’s an estimated 13million hallyu fans in Europe as of 2022, per The Korea Times. That number is a 37 per cent increase from the year before.

The brokers note was most recently deferred at shareholders request lod (as articulated by TSG a few weeks ago). I note that the company have been saying May for that note, and that date is repeated in todays comms, so hopefully not long before financial guidance is restored.

https://www.theo2.co.uk/events/detail/kpopflex

Still planning for 23-25 September 2023. Anyone saying otherwise is scaremongering.

What this shows is that it takes the right contracts and connections in Korea to pull this together and make it successful. That’s the role that lvcg are playing, bringing together all the various parties and making it work.

IMO the reason for the setting up of lvcg Korea was to recognise that as well as get a better control of the costs and a cut if the pie. No doubt there’s a great deal happening behind the scenes at Frankfurt to make it a success. I understand that a lot of the team are in Germany this week ;-)

I don’t think it will make any difference on the timing as the new broker is mostly the old broker, and the services have been transferring for some time. Hopefully we will see them pulling out their fingers and delivering this soon as it’s been nearly 4 years without any financial guidance.

There is an RNS.

Confirms that tickets for Madrid are selling well. Plus also conforms an average ticket cost of over €120, putting it on track to make that circa £2.5m profit. Would have been nice if they had said something about the breakeven, which for Frankfurt day one was 40% ticket sales.

Plus Frankfurt 22 2nd day didn’t sell out. Madrid is only one day, it’s a slightly bigger stadium, plus the ticket price average is higher. So approx the same ticket revenue but half the costs = circa £2.5m profit if it sells out.

It wasn’t “live” streaming last year.

Frankfurt 22 sold a total of 65,000 tickets at an average price of €86 (£76.11) over the two day period, and made £180,000 of profit. That’s €5.59m (£4.95m)revenue and costs of £4.77m or £2.385m per day.

Madrid has 45,000 seating capacity. and an average €120 per ticket that’s €5.4m ticket revenue or £4.74m. Taking the one day costs for Frankfurt that gives an overall profit of £2.355m profit.

Likely Madrid is a better deal in terms of costs (that’s why they went with a new deal with SBS, plus there will be merchandising, sponsorship and live streaming.

https://www.livecompanygroup.com/kpop-lux/

Japan is on the link on this page.

Madrid average ticket price is €120. That’s a £4.74m ticket revenue. Likely overall profit north of £2.5m if it sells out (which it will)

Ticket sales for Madrid are going extremely well. Frankfurt one day break even was circa 40% ticket sales, and this is well past that (with the new contract with SBS in place and a better control on costs, it’s likely that break even for Madrid is a lot lower). Still to see the details of merchandising, sponsorship and of the live streaming, which extends the reach of Madrid into South America in particular.

This shows that if good enough headline acts are announced they will sell as there is is a big demand, which is what LVCG are tapping into with this new division (remember it’s less than 18 months old, is already profitable and now has 4 multi year events on the books). I’ve got no doubt that Madrid will sell out. Hopefully they will get the headliners for Frankfurt out soon and get that sold out too. Same with Japan, although the demand for KPOP there is so strong that it’s going to sell out extremely quickly there. The future growth path is clear to see too, not only in more days for existing events, but further European, Japan, and worldwide expansion.

Meanwhile the Bricklive division is getting going again over the spring/summer season. List of tours in May below. Tours typically generate £25k to £50k per month (£150,000 to £250,000 over an average rental period) depending on the size and duration of the tour. The Detroit Zoo tour is actually two tours. The operating costs of this division have been very considerably reduced, which means that as a division it should be profitable this year.

Worth remembering that bricklive was acquired in 2018 for £9m, almost double the market cap, and there is a greater brick inventory (never mind the value of the 28 plus tours, over 1000 models). than the current market cap. Each of those touring sets cost circa £500k to build (costs which have already been sunk) and has a life in excess of 10 years.

https://detroitzoo.org/events/zoo-events/bricklive/

https://allevents.in/kidderminster/bricklive-brickosaurs-at-the-engine-house/200024447144143

https://www.aquazoo.nl/en/

https://www.zooparc.nl/evenement/bricks/

And this feedback shows why renters keep coming back to bricklive again and again.
https://www.northamptonchron.co.uk/business/consumer/animal-trail-a-roaring-success-as-shoppers-flock-to-northampton-town-centre-4121180
Animal trail a roaring success as shoppers flock to Northampton town centre
‘We received such positive feedback from those who took part and retailers reported a surge in footfall throughout the campaign so it has been a massive success igniting imaginations and creating long-lasting memories’

Oval X are shutting down all their brokers services.

53,000 when the Rolling Stones played there last year
https://www.reuters.com/lifestyle/rolling-stones-kick-off-60th-anniversary-european-tour-madrid-2022-06-02/

I was going off of Wikipedia for the 68000. I note that the 6 Jan rns said 52,000.

“The Madrid show is set to bring the 52-thousand-seater Civitas Metropolitano - home to Atletico Madrid - alive with a star-studded lineup on 22(nd) July 2023”

Frankfurt 22 sold a total of 65,000 tickets at an average price of €86 (£76.11) over the two day period, and made £180,000 of profit. That’s €5.59m (£4.95m)revenue and costs of £4.77m or £2.385m per day.

Madrid has 68,000 seating capacity. If you assume the same average ticket prices and costs as Frankfurt for one day that’s a ticket revenue of £5.1755m and a profit of £2.79m if it sells out.

Average prices for Madrid look a little higher, and costs for a single day may be a little higher too, but it’s a good approximation IMO. That’s without merchandising, sponsorship or live streaming.

Another way to describe it is whatever profit we make this year, when we move to 2 days next year we won’t just double the profit , we’ll more than double it.

But the inconvenient truth is that Dc has started talking about profits, and profits this year. Sorry if that’s a bit awkward.

That’s just your interpretation B. Others read it that there’s going to be a profit (he actually does not say big or small) and in 2024 and beyond an even bigger profit ;-)

Plus he’s said nothing about live streaming yet.