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This is great news. The promoter in Frankfurt has shown that sourcing KPOP acts independently and without Korea in country support for these concerts isn’t easy. So moving to the lux format, with SBS involved for sourcing the acts, and a bigger cut for lvcg really is good news. They have committed to releasing the full line up of acts by February, which is nearly 5 months in advance of the festival, so the biggest bug bear with SBS seems to have been tackled.

There are clearly a range of outcomes for the profit for London depending on your view of the costs, the impact of cancellation and depending on the average ticket prices and of course if it sells out or not. Those outcomes are based solely on ticket sales and exclude sponsorship, merchandising and streaming.

On cancellation costs, the hire of O2 for 3 nights was circa £270k, and they have given over 3 weeks notice of the change to only 2 nights. So I’d expect no more than a potential £90k cancellation cost if even that. The other costs for production etc are mainly being managed by lvcg and are included in the production costs. Take security for the evening, now that they aren’t calling in security teams there won’t be any costs for that night. The vast majority of the costs are with SBS for the artists fees which will be scaled accordingly.

If you assume that the overall costs for 3 nights was circa £4 million that gives the costs for 2 nights (including the short term loan interest and O2 cancellation costs) as £3.156m.

At £150 per ticket breakeven would be 21,000 tickets sold. Capacity is 34,000. (17k per night) so if there are only 7k tickets to be sold that gives £900,000 profit at current sales, and £1.95million if they sell all 34,000 tickets.

Every 10,000 live streams will add £100,000 profit. Then sponsorship and merchandising on top. That all looks pretty decent for this event, and even the low end would smash the brokers note target.

But the real key now is that we are talking about how big the profit for London will be, not whether they will make a profit. ;-)

Looks like they are starting to get the artists to ramp up the promotion.

https://x.com/kpoplux_/status/1698023391347736645?s=61&t=rl988v07FmcdorCM6_Ebvw

https://x.com/kpoplux_/status/1698007965289107753?s=61&t=rl988v07FmcdorCM6_Ebvw

https://x.com/kpoplux_/status/1697958240883982545?s=61&t=rl988v07FmcdorCM6_EbvwJ

1 m instagram followers.

https://www.instagram.com/hf_dreamcatcher/?hl=en-gb

Hopefully next week will see the results published and restoration of trading. We already know what to expect from the 2022 results as that was articulated in the brokers note:

https://media.umbraco.io/live-company-group/3bpbpruo/lvcg_sp-angel-research-note.pdf

2022E Adj EBITA (£1.540m) Net income (£3.203m)

Since suspension there’s been Madrid, which didn’t sell out, but did make a profit plus it had live streaming, $100,000 in sponsorship and will have made cash from merchandising. We are still waiting to find out the Madrid totals. The brokers note target was maintained after Madrid.

The comms from lvcg leave a lot of room for improvement. They have got better in terms of giving numbers, but there’s not been a single mention of the fact that the brokers note has been produced. Remember that was very conservative (it excluded streaming, sponsorship and merchandising) and gave a target price of 11p.

One thing I do agree with simple about is that LSE is a bit of a goldfish bowl, not many investors see it. So unless something has been in an RNS, the wider market won’t have a clue about it. IMO the swing to profit this year and growth next year hasn’t been taken into account. Everyone is still assuming that lvcg are strapped for cash and there’s no forward guidance. Let’s hope that the results make that forward guidance clear.

Meanwhile tickets for London on Saturday are selling well (I’d say over 80% sold) but Friday sales are lagging but overall it looks like they have passed breakeven. Even a small profit from London should see them beat the brokers note target, but even if they only meet that this year, at just £5m mcap lvcg is materially undervalued IMO.

Agree JS, an experienced CEO would make a big difference to operational delivery.

I’ve already addressed that numerous times yesterday. No point repeating myself on what is a small administrative oversight by the company and is already being addressed.

Morning from cloud - cookie - land. Tickets for the festival that you said would never take place with a line up that you said would never be announced seem to be selling quite well. I could also point to the independent due diligence on StartArt by a top 10 auditing firm that you are implying never took place, or the figures and EBIT that were published at the time on which part of the aquisition is still based that you are implying was never made, or the results for start are that were published in the accounts that you are saying were never published or that fact that a £600,000 in liscence fees based in this have been in RNS’ over the last 12 months for a division with a very low cost base and for which I expect to be in profit. But doing that might make it look like you are a total clown who is just making stuff up and casting out wild assertions and who set this LSE account up to troll only lvcg and that you literally do that in the middle of the night (it’s a dark lonely place) but I’ll leave it for others to judge from your posting history. Maybe try harder in your trolling next time. Take some pride in your work. .

It was TSG that said that the original budgeted all up costs were circa £4m for the 3 nights.

Why would an RNS be required re company house? Once the accounts are published they will be simultaneously uploaded to company house and the action will be discontinued. The company are also taking action to sent the note to Ch that should have been sent weeks ago which will also discontinue the action. Let’s see how many of the trolls admit they were scaremongering when that happens (I won’t hold my breath)

When the accounts are published and there are no auditing issues identified there’s going to be an awful lot of humble pie to be eaten. Except the trolls will just keep on trolling like they have done countless times before.

What I also find hilarious are those suggesting and trying to mislead that the short term loan gets added to the costs of the festival. It dosent. The costs are the costs and the loan is there to help with the cash flow. Sure the cost of the interest gets added to the costs, but not the whole short term loan. The vast majority of the costs are the artists fees paid to SBS and those are scaled to the number of nights and number of artists. So if there are now only 2 nights with 12 artists that will be about 2/3rd less than 3nights with 18 artists. Ticket sales have been above the planned average cost of £113 they were planning on, so provided these 2 night get a good turnout this festival will make a good profit and they will be on to exceed the brokers note target for 2023.

It’s a routine admin mess up. A note was meant to be sent to company house and it wasn’t. Probably because they are all so busy pulling together the London festival.

As I said, this will be cleared up soon. Then bennster will have to find something else to troll the company about.

Very soon. Within a week.

As I said anyone suggesting otherwise is scaremongering.

I understand that some people are sending very abusive messages to both Sarah and the Chairman. Anyone doing that shame on you.

Exactly, it’s a totally routine notice when the accounts are overdue. Anyone suggesting otherwise is scaremongering.

Thanks for confirming that the expected profit is at least £1 million.

Personally I’d rather 2 nights sold out than 3 nights half full. No doubts costs will be scaled back accordingly.

I’m no supporter of DC, but unless I’m mistaken he did take a 50% pay cut, plus he’s forgone his Chairman’s fees for the last two years. He has 25% of the share capital and the only way that he will realise a profit on that large a holding will be for him to get the company into a good shape to sell. He did buy £250,000 of shares at 65p in the placing to expand into the bricklive touring division into zoos. He also converted £205,000 of his loan during covid (see below) to shares at 10p So that’s a funny way of behaving if this was a “lifestyle company” as some are claiming.

Neither is the current loan to him or anyone related to him. He did loan the company £500k during covid and that was done at a fairly reasonable rate of interest, plus he converted £205,000 to shares at 10p. The alternative to getting a short term loan would have been another placing which given market conditions would have been horrible, or they could have repeated the short term deal earlier in the year, which absolutely nobody liked. I would note that the person complaining about this was also scaremongering earlier in the year about DC “But my guess is that he'll make the announcement that he has magnanimously agreed to replace Jason Lee funding with his own funding on the same terms ... “. Funny how when that didn’t happen there was no retraction to that claim.

There are plenty of lifestyle companies on AIM and indeed on the FTSE. SENS (delisted), BIDS, PYC, BPS (now CEG), NTOG, ECHO, MOS, MORE (delisted), MEAL (delisted), MODE, 88e, ADME, GWMO, BEN, BMV, CHLL, LOOP, DMTR, NAPS, DVRG, RMS (now NNN and no longer trading), UKOG, GUN, INSP, HOME, ICON, AAOG, VRS, VAST for starters. I mention those specifically because those who have stopped by to troll lvcg have been ramping all of those companies at one point.

Sunday Observer page 14. Piece reporting the upswing in popularity of KPOP girl bands in the UK. IZZY are performing at the O2, and no doubt more female bands will be announced when the rest of the acts are released.

“Korean boybands have already scored huge global success. Now the gender balance is finally being restored, reports Molly Raycraft

When girl group Blackpink took to che stage in Hyde Park in London last month. they made history as the first ever Korcan pop (or K-pop) group to headline a UK festival. Yet, despite the quartet clinching eight official Top 40 UK hits, their appearance at such a big live event was still sewed with surprise by some. British music snobbery is not short of jibes towards the Kopo industrys over-manufactured nature, that the juggernaut of K-pop music is not showing any signs of slowing. And this year it's all about the girls.

Four all-female K-pop bands - Twice, Aespa, Itzy and (G)I-dle - are set to perform in london arenas next month. And another girl band, Mamamoo, have just had their concert sereened across Uk cinemas earlier this month. This year also saw two all-girl groups - Fifty Fifty and New Jeans - both enter the UK charts. They may not be familiar yet, but in the world of K-pop they are big business. This hive of activity from the girls is a refreshing change. K-pop has been growing in popularity for some time - who can forget 2012's Gangnam Style by Psy, or Ed Balls' even more memorable interpretation of it on Strictly Come Dancing in 2016? But until now, K-pop's popularity in the UK has largely been dominated by boy bands.“

I understand that the rest of the line up is close to being released. Hopefully all at once. But like you suedee I would have preferred it to be released by now.

Someone has been tracking ticket sales, but not sure how accurate this is, or if it’s tracking only the seats that have been released so far?

https://x.com/kchartstours/status/1695006694731071922?s=61&t=rl988v07FmcdorCM6_Ebvw

“when did Paw Patrol become one of the biggest companies in the world?”

Imagine thinking that paw patrol was a company. Lol. It just happens to be the No

1 preschool franchise in the U.S. and UK since 2016 and is a global phenomenon. Its IP is fiercely protected by the viacomCBS (who are a multi billion pound company) that owns it, and they trusted lvcg with reproducing that IP in a multi year deal.

You really are dumber than you make out ;-)

No B, it’s a fact based on actual evidence :-)

Never let anything as trivial as the facts get in the way of trolling.

Oh and anyone who can actually read will see that the only person initiating unprovoked direct personal attacks is YOU. Just another FACT based on actual evidence.

Good day to you, but it’s a pretty sad life you lead