All Things Considered Group PLC FY22 Trading Update (0889P)

TIDMATC

RNS Number : 0889P

All Things Considered Group PLC

07 February 2023

7 February 2023

All Things Considered Group Plc

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

FY22 Trading Update

Continued growth in line with expectations and strategic advancements

All Things Considered G roup Plc (AQSE: ATC), an independent music company housing talent management, live booking, livestreaming and talent services, is pleased to provide an update on trading for the year ended 31 December 2022.

The Board expects to report FY22 results in line with market expectations*, with double-digit revenue growth and a significantly improved adjusted loss before tax. The improving trading conditions seen in the first half of the year continued through the second half as markets continued to get back to normal and live touring resumed. Strong progress was achieved in the Group's core artist management and development business with the recruitment of talent representatives supporting new client acquisition.

ATC's livestreaming investment, Driift, cemented its position in the industry following a landmark year acquiring technology and commerce platform, Dreamstage, and attracting a GBP4m investment by streaming platform Deezer. ATC now holds 32.5% of the enlarged Driift business.

Investment in the Group's operations and business divisions continued in line with management's strategy to build an integrated, full-service artist offering. During the year the Group launched new complementary divisions, including ATC Experience, and invested in personnel to bolster capacity to support growth plans.

The Group retains a net cash balance of GBP1.3m at year end excluding long term debt.

The Group expects to report audited results for the year ended 31 December 2022 in late April.

Adam Driscoll, CEO of All Things Considered, commented: "I am pleased with the progress we have made in the year, including a number of key operational and strategic achievements combined with the continued growth of our artist representation business. We continued to add to our artist rosters by attracting the best managers and agents into our business, as our ethos of 'empowering creators' continues to be a magnet for talent.

"We are excited about the prospects ahead for Driift as the livestreaming sector sees renewed demand with the re-emergence of live touring. With a solidified balance sheet, best-in-class technology platform and industry leading partnership, the business is positioned to scale.

"As we look ahead, we remain mindful of the wider economic backdrop across our geographies. However, our diversified approach across artists' commercial interests and established track record means we continue to be well placed to capitalise on organic and acquisitional growth opportunities in a rapidly evolving and fragmented music industry."

*Market consensus for the year ended 31 December 2022 is revenue of GBP11.0m and adjusted loss before tax of GBP0.3m.

This announcement contains information that the Company considers to be inside information related to the Group for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as amended by 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.

-ENDS-

For more information, please contact:

 
ATC Group                            Via Alma PR 
Adam Driscoll, CEO 
Rameses Villanueva, CFO 
 
Canaccord Genuity                    [phone] 
Aquis Corporate Adviser and Broker 
Adam James / Patrick Dolaghan 
Alma PR                              [phone] 
Financial PR 
Hilary Buchanan / Justine James 
 

Notes to Editors

About ATC

ATC Group is the only independently owned company in the industry housing talent management, live booking, livestreaming and talent services within the same group. The Group is headquartered in London, with offices in Los Angeles, New York and Copenhagen and is led by an experienced management team who have operated across multiple music industry sectors.

The Company has an established, long-standing client base with over 80 artists on its management roster and over 450 acts on the live roster. The Group's six key divisions, grouped under two segments, are:

   --      Artist management and development 

o ATC Management - artist management

o ATC Live - live event booking agency for artists

o ATC Services - promotional, agency services and technology solutions provider

o ATC Experience - creator and distributor of artist-led digital and in-person experiences

o Polyphonic - an artist partnerships venture

   --    Live streamed events 

o Driift - a global livestreaming business, and Flymachine, a livestreaming platform

   For more information see:    www.atcgroupplc.com 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

NEXEAFAKEDADEAA

(END) Dow Jones Newswires

February 07, 2023 02:00 ET (07:00 GMT)