All Things Considered Group Plc Regulatory News (ATC.PL)

Prior to publication, the information contained within this announcement was deemed by the Group to constitute inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain.

10 February 2025

All Things Considered Group plc

("ATC", the "Company" or the "Group")

FY24 Trading and Corporate Update

Year of rapid scaling with doubling of Group revenue and delivery of EBITDA profitability,

validating growth strategy

All Things Considered Group plc (AQSE: ATC), the independent music company housing talent management, live booking, merchandising, talent services and events, is pleased to provide an update on trading for the financial year ended 31 December 2024 ("FY24"). The trading performance reported in this statement is based on unaudited management accounts.

Highlights

FY24 trading update

FY24 was a very strong year of growth, with Group revenues expected to have more than doubled to circa £50m (FY23: £24.1m), together with a transition to positive adjusted operating EBITDA¹ which is expected to be circa £1.5m (FY23: loss of £0.46m).

ATC continues to have its artist representation at the core of its business. As the broader music sector pivots towards empowering artists to take control of their own rights, ATC is perfectly positioned to offer its artists a fully integrated service offering in partnership with artists at all stages of their career. The Group was pleased to welcome a significant number of new artists to the client base in the year, with c.860 unique clients now working with ATC across c.1,080 business engagements, demonstrating the continuing trend of artists expanding their engagement across additional service offerings. In recognising that artists have a host of delivery partners to choose from, ATC is driving a 'best-in-class' service across all of its businesses. ATC's breadth of engagement across key music business functions enables the Group to present and deliver long term strategic benefits to artists, bringing forward the best solutions tailored to their creative and economic interests.

FY24 performance was underpinned by growth in all Group service divisions, demonstrating the broad appeal for the Group's innovative, full-service talent offering, which enables closer collaboration with artist clients across multiple services. Segment performance highlights include:

Continued organic momentum was enhanced through further strategic acquisitions in the year, bringing more complementary services to the Group and expanding scale and market reach within a fragmented landscape. The Group acquired 50 per cent. of McKeown Asset Management (now called Joy Entertainment Group ("Joy Entertainment")) in February and 55 per cent. of Raw Power Management in May. Joy Entertainment extended the Group's revenue streams into festival management, live music promotion and venue assets, while Raw Power further increased the number of artists in the Group's management orbit, including Bring Me the Horizon, headliners at Reading/Leeds festival in 2025, building upon a recent sold-out stadium show in Sao Paulo.

ATC now has 12 operating businesses in three core segments, aligning the Group to key growth segments of the market and giving it access to unrivalled market intelligence and data. This provides ATC with a strong competitive advantage as its breadth of touch points within the music value chain provides comprehensive insights that can be leveraged across service lines.

Outlook and strategy

Positive trading momentum has continued into the beginning of the new financial year. The growth of ATC's service offering and client base is driving a larger pipeline of opportunities, with a visible runway of events and festivals scheduled for 2025 and beyond.

The Group remains focussed on scaling the business by executing against its proven organic and acquisitive growth strategy. The Group has a growing reputation in the music industry driven by the wide range of services it provides and its integrated approach to artist management, covering everything from representation to live performance, online management, ticketing and merchandising. The Group deploys data analytics for a better connection between the artist and the fan, creating content for the fan to acquire and encouraging participation in events. The Group continues to evaluate complementary acquisitions in line with its disciplined approach focused on adding new tangential services within the music value chain and/or bringing new artists to the client base.

Potential move to the London Stock Exchange

In light of the growth of the Group and increasing opportunities available, as well as in response to existing and potential shareholders' requests to improve share liquidity, the Board of ATC is considering moving the public quotation for trading in its shares to a market operated by the London Stock Exchange to support this. Consideration is at an early stage and further updates will be provided as appropriate.

Acquisition of remaining shareholding in Driift

Driift, a provider of end-to-end livestreaming capability - across show development, production, ticketing, streaming and distribution, sits within the Group's Services division and has, to date, been an associated company with the Group holding a 32.5% minority interest. ATC has agreed terms with the remaining shareholders in Driift to acquire 100% of Driift Holdings.

Adam Driscoll, Chief Executive Officer of ATC, commented: "This has been a year of material advancement for the Group, in line with our vision of building a full-service music business that delivers for artists across the music industry value chain.

"We are delighted to report an excellent trading performance for FY24, including the doubling of revenue from FY23 and the delivery of a meaningful uplift in adjusted operating EBITDA. Our strategy of building an integrated offering to artists is working, with a value proposition tailored to the unique needs of creators' businesses and which facilitates direct engagement between artists and fans.

"We have entered the new year with the building blocks in place and the scale to capitalise on a growing market opportunity. With a robust financial position, growing profitability and strong pipeline of visible activity, the Board is confident of delivering continued growth in the year ahead."

¹. Operating EBITDA is a non-statutory performance measure, as displayed in the consolidated statement of comprehensive income, and is defined as the operating result before interest, tax, depreciation, amortisation and impairment and before the share of results of associates and joint ventures. Adjusted for business combination costs, share-based payments and exceptional items.

Contacts:

Notes to Editors

ATC Group is an independent music business company operating internationally with strong business focus in the key commercial areas of music artist's business. The Group encompasses direct artist representation in the form of management and live representation, merchandising, music promotion, livestreaming and a range of other music services. The Group is headquartered in London, with offices in the key industry hubs of Los Angeles and New York, and also in Europe.

The Group's key businesses are structured into segments that reflect the growing range of the Group's activities:

For more information see: www.atcgroupplc.com