ATC Group considers London Stock Exchange switch

All Things Considered (ATC) Group is mulling a switch to the London Stock Exchange after more than doubling its revenue in 2024.

The multi-faceted agency and artist management firm projects FY24 earnings to have reached £50 million (€60m), well up from £24.1m in the previous 12 months. The 2023 figure itself represented a year-on-year increase of 156%, fuelled by the “transformative” acquisition of merchandise company Sandbag that July.

Its adjusted operating EBITDA of £1.5m in 2024 also compares favourably to a £460,000 loss the previous year.

London-headquartered ATC, whose portfolio also includes livestreaming business Driift, listed on the Aquis Growth Market in London in December 2021 after raising £4.15m in its initial public offering (IPO). Its share price currently sits at 102.50p, giving the firm a market cap of £16.96m.

Agency arm ATC Live recorded a “substantial year of growth as a result of robust live touring activity and reflecting strong consumer demand for live events”, according to the group’s FY24 trading and corporate update. Its roster includes the likes of Nick Cave & the Bad Seeds, Fontaines D.C., Amyl and the Sniffers, Royel Otis, Ride, Lottery Winners and Jamie Webster.

“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,” reads the update. “Consideration is at an early stage and further updates will be provided as appropriate.”

“We have entered the new year with the building blocks in place and the scale to capitalise on a growing market opportunity”

Last year, ATC Management announced a majority investment in Raw Power Management, whose clients include Bring Me The Horizon, Bullet For My Valentine, The Mars Volta, Don Broco and The Damned, bringing two of the UK’s leading artist management companies together under one roof. It also acquired a 50% stake in McKeown Asset Management, now called Joy Entertainment Group.

The report notes that ATC “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”.

“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,” concludes ATC CEO Adam Driscoll. “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.”

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