Acquisition of Easy Life Entertainment
ATC acquires 75% of Easy Life Entertainment music management and record label company for £0.75m net consideration.
- Acquisition consideration (net) £0.75m
- Post-completion dividend to ATC £0.28m
- Easy Life Entertainment revenue (FY24) c.£0.51m
- Easy Life Entertainment EBITDA (FY24) c.£0.24m
- Masters in Easy Life records catalogue over 300
- Artists added to management roster 11
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The Board of All Things Considered Group plc (AQSE: ATC), the independent music company housing talent management, live booking, merchandising, talent services and events, is pleased to announce the acquisition of a majority interest (75%) in Easy Life Entertainment Limited ("Easy Life Entertainment"), a music management and record label company (the "Acquisition").
Highlights
| · | Acquisition provides additional scale and manager talent in core Artist Representation segment. |
| · | Drives music rights ownership with record label bringing over 300 masters, giving the Group a broader foundation from which to build further IP. |
| · | Expands artist management roster by 11, creating further opportunities for cross-selling within the Group. |
| · | Extends music promotions portfolio, introducing new revenue streams and increasing the Group's ability to provide end-to-end support for artists. |
| · | Net Acquisition consideration of £0.75m in cash, after netting off a post-completion dividend due to ATC of approximately £0.28m. |
| · | Annual revenue of c.£0.51m and EBITDA of c.£0.24m for year to 31 March 2024. |
Background and rationale
Spearheaded by Jamie Osman, a renowned music manager and record label owner, Easy Life Entertainment consists of Real Life Management, Easy Life Records and Turn the Page PR. Founded in 2014, the business has grown steadily, establishing itself as a leading independent record label in the UK's music scene.
With an established music catalogue built up over 10 years, Easy Life Entertainment enjoys a long-term revenue stream with consistent returns, generated from its music rights royalties. The Acquisition also brings new opportunities to cross-sell additional integrated services across an enlarged customer base, such as representation, live events, and merchandising, further enhancing long-term value for the business.
Adam Driscoll, CEO of ATC, commented: "We are excited to welcome Easy Life Entertainment to the Group. Jamie is well respected in the industry and brings considerable experience and an extensive network of client and industry relationships. The Acquisition adds a meaningful revenue stream to the business through predictable, recurring music royalty income. In addition, by expanding our service offering, we have strengthened our ability to support artists at every stage of their careers, further solidifying our position as a fully integrated music company."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.