All Things Considered Group Plc

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

Trading and Corporate Update and Notice of Results

All Things Considered Group Plc (AQSE: ATC), an independent music company housing talent management, live booking, livestreaming and talent services, is pleased to provide the following trading update.

FY21 Trading Update

The Board is pleased to report that it anticipates results for the full year ended 31 December 2021 to be in line with management expectations, with the Group expecting to report total revenue and other operating income of circa £9.9m representing growth of approximately 23% from 2020 (£8.0m). The Group adjusted loss before tax* and non-controlling interests ('NCI') is expected to be £2.8m (2020: £0.4m loss before tax and NCI) primarily due to a non-recurring loss in H1 2021 as indicated at the time of IPO. The Group adjusted loss before tax and NCI for H2 2021 is therefore expected to be approximately £0.3m, being in line with expectations and demonstrating a solid performance during the prevailing Covid-constrained environment.

Following the successful fundraise at the Group's IPO in December 2021, ATC retains a healthy cash position with a cash balance of approximately £4.4m at year end.

 *Note: all figures are unaudited. Group (loss)/profit before tax is on a consolidated Group basis and prior to non-controlling interests in accordance with IFRS. Reference to 'adjusted' figures refers to the adjustments relating to the non-recurring IPO and related costs.

Current Trading, Corporate Update and Outlook

The trading outlook for 2022 remains positive and management expect ATC to record continued growth in revenue going forward. The live music industry is continuing to see a significant growth in activity following the relaxation of Covid restrictions and consequently ATC's live agency and management divisions are benefitting, with promising new clients including Nation of Language, Connie Constance and Billy Nomates joining the live roster and The Goa Express joining the management roster.  Business indicators are increasingly strengthening; in three consecutive weeks in January and February, three of ATC Live's clients achieved Top 3 UK album chart status in the week of release.

The Group's livestreaming division, Driift, successfully delivered the first of its 'Full Circle' events in January with ATC management client 'The Smile'. This new hybrid format brought together a live ticketed audience in a bespoke venue designed specifically for a global livestreaming audience and demonstrated that Driift can benefit from a diversified revenue mix, as the Directors anticipated. The show garnered a number of '5 star' reviews and wide audience acclaim. This new hybrid format will generate higher margin business for Driift. Importantly, this new format demonstrates that the Company remains at the forefront of the evolution of the growing livestreaming sector and Driift will focus on higher profile artists for these shows in the coming months in preference to a higher volume of lower margin 'livestream only' projects.

Elsewhere, the service businesses are trading in line with management expectations and the Group is benefitting from some industry consultancy work which is adding to the revenue mix. The service businesses are seeing growth as the global music market emerges from the challenges of the pandemic. The Group recently opened an office in New York to facilitate the continued expansion of the US management and services businesses.  

The Group was pleased to welcome Rameses Villanueva to the Board as Group CFO on 28 February to bolster the Group's management team and provide support for the next stage of the growth strategy.

More recently the Group has secured and received a short-term promissory note loan of $6m. The Group has invested the $6m into a new company formed with the express intention of investing in the music digitisation, blockchain/web3 spaces. The minority investment is made alongside a number of other parties who together with ATC have invested over $80m in the new venture. ATC's equity interests in the newly formed company are subject to a pledge in favour of the lender, as sole security against ATC's obligations under the loan arrangement. ATC will provide further updates in relation to the investment and the loan in the near future. 

Notice of Results

The Company expects to release its full year results in May 2022.

Adam Driscoll, CEO of All Things Considered, commented: "Following our successful listing on the AQSE market in December 2021, we are pleased that the Group is seeing the positive impact of the retreat of Covid restrictions and the opening up of global music markets. The capital we raised at the end of 2021 has put us in a strong position to take advantage of new opportunities in an industry that has been substantially challenged over the last two years. Our investment in our livestreaming business and the growth of that segment, alongside our other more established business units, means that we have a great mix of assets from which to build a substantial company. The combination of the music industry's traditional activities moving back to full velocity, alongside a number of developments in new technologies spurring growth of new revenue opportunities, means that there are exciting prospects for the Group in the coming months and years."

For more information, please contact:

Notes to Editors

ATC Group is a prominent independent  music company offering live rights, live agency, production, artist management and investment and a range of other music artist services. 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 Company has an established, long-standing client base with over 50 artists on its management roster and over 400 acts on the live roster. One of its livestreaming offerings, Driift, has delivered shows with Niall Horan, Andrea Bocelli, Kylie, Johnny Marr, The Smile and others, selling over 500,000 tickets across 171 countries since being established in June 2020.

The Group's five key divisions are:

·      ATC Management: artist management;

·      ATC Live: live event booking agency for artists;

·      Livestreaming: through Driift, a global livestreaming business and Flymachine, a livestreaming platform;

·      ATC Services; 

·      Polyphonic; an artist partnerships venture

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.

For more information see: www.atcgroupplc.com