Live Company steams ahead in 2021 with new division, contracts
The forthcoming introduction of a global [coronavirus] vaccine programme will hopefully add opportunities for the second half of 2021 and beyond.
David Ciclitira, chairman
What Live Company does
These range from large BRICKLIVE events that attract hundreds, to smaller cafes that parents and children can enjoy while taking a break from shopping.
Since listing on AIM in December 2017, the Company has been pursuing an aggressive strategy of expansion and brand building that has paid off for the share price.
What it owns
Brick Live Group holds BRICKLIVE, an interactive event that allows people to learn, build and play with plastic toy bricks.
Parallel Live is a joint venture with Three Six Zero to hold BRICKLIVE events in the US and Canada. The joint venture has agreed terms with Live Nation Entertainment to launch events this year. The first was held in Dallas in January.
Bright Bricks is a professional brick building firm. It makes custom brick and toy brick creations for clients across the globe including Rolls-Royce, Google, BT, Land Rover, Warner Brothers, LEGO, General Electric, The National Gallery, Maersk and Lufthansa.
In late 2020, the company also established a new division, Live Company Sports and Entertainment Pty Limited (LCSE), which will focus on live sports, entertainment and music events.
How it is doing
One of the major recent events has been the establishment of the company’s Live Company Sports and Entertainment Pty Limited division, which focuses on live sports, music and entertainment events.
The firm said the new division will target the fee-based promotion and organisation of global sports and entertainment events including motorsport, sailing, cycling, golf, music and lifestyle, adding that several existing contracts for events will be novated to LCSE’s South African subsidiary from Worldsport South Africa (WSSA).
Live Company said the first event the division will focus on the largest participant based cycle race in the world, the Pick n Pay cycle tour, which is planned to take place in Cape Town in March 2021, while the wider strategy of the LCSE division will be to develop new global concepts for international events in addition to expanding existing South African based events.
Aside from setting up the new division, the company has also inked a flurry of deals in the first months fo 2021, announcing in Janaury that it had signed heads of terms with trade fair organiser Messe Frankfurt to launch the eMobility Festival in Cape Town in November.
This was followed in February by a contract to design and build a fully glued 3D model representing a climate change environment with the branches of the UK Environment Agency, and in March by a new contract for Paddington Bear with the Black Watch Museum in Perth, Scotland.
Revenue for the six months ended June 30, amounted to £1mln, with £600,000 generated in the first quarter against £700,000 in Q1 2019, and £400,000 coming in the second versus £1.3mln in Q2 2019. The firm reported a £5.37mln loss for the period, compared to a £1.07mln loss in the same period a year ago.
What the boss says: David Ciclitira, chairman
Commenting on the eMobility Festival contract, Ciclitira said: “We are delighted to announce the first eMobility Festival as part of e-FEST that will take place in Cape Town in 2021. As part of our recently announced new division [Live Company Sports and Entertainment] we see real value in the E-FEST and eMobility concepts as companies and consumers around the world are increasingly looking to the car industry, corporates and governments to pursue sustainable and greener solutions in their countries.”
“South Africa is the first adopter of this festival but the group strategy is to roll this out globally – especially in countries already hosting Formula – E races as part of their annual sporting calendar”, he added.
- More opportunities for new sports and entertainment division
- New contracts for existing tour assets
- Tours worldwide