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Rio police investigate T4F after Swift fan death

Police in Brazil are investigating promoter Time for Fun (T4F) following the death of a Taylor Swift fan who fell ill in sweltering conditions at one of the singer’s Rio shows.

Ana Clara Benevides, 23, lost consciousness during Swift’s performance at Estádio Nilton Santos last Friday (17 November), which took place in the midst of Brazil’s record-breaking heatwave. She was rushed to hospital, where she died after suffering a reported cardiac arrest.

A spokesperson for the Civil Police Department of Rio de Janeiro says it is probing a possible “crime of endangering the life and health” of concert-goers, although the inquiry is not connected to Benevides’ death.

“Event organisers will be called to testify, and other steps are underway to investigate the facts,” reads the police’s statement, as per the Daily Mail.

Fans were reportedly prohibited from bringing their own water bottles into the venue, despite temperatures in Rio reaching 39.1°C on the day of the show, leading to criticism of the promoter, which said the ban was “a requirement made by public bodies”.

“We apologise to the people who didn’t have the best experience possible”

T4F implemented a special action plan for Swift’s remaining two Rio stadium gigs on 19-20 November, which passed off without major incident, offering free water at access points in and around the stadium and enhancing its medical provisions.

In a video posted on social media, the company’s CEO Serafim Abreu offered an apology to attendees “who didn’t have the best experience possible”.

“We know the enormous responsibility we have when organising an event of this size, which is why we spare no effort and resources to always follow the best global practices in the sector, to guarantee comfort and safety for everyone,” said Abreu, as per Brazilian publication Estadao.

“Still, we faced days of extreme heat in Rio de Janeiro, with extremely high and unprecedented thermal sensations. Yes, we recognise that we could have taken some alternative actions, in addition to all the others we have done, such as creating shaded areas in external areas, changing the times of previously scheduled shows and placing more emphasis on allowing entry with disposable water cups.

“We also understand that the entire sector needs to rethink its actions in light of this reality. We apologise to the people who didn’t have the best experience possible.”

“We understand the deep pain of this irreparable loss, we respect the family’s privacy and once again reinforce our willingness to collaborate”

Referencing Benevides’ death, he continued: “Unfortunately, for the first time in more than 40 years of operation, we have had a fatality at an event organised by Time For Fun. We are very saddened by the loss of young Ana Clara, despite the prompt care and all the efforts made by the medical teams at the event and at the hospital.

“To Ana Clara’s family, I want to express our most sincere feelings. I now publicly state our willingness to provide assistance in any way necessary, as we have already said directly to family members and to the lawyer who represents them, by telephone and in writing, since the incident.

“We understand the deep pain of this irreparable loss, we respect the family’s privacy and once again reinforce our willingness to collaborate.”

Swift will wrap up Eras‘ Brazilian leg this weekend with three T4F-presented concerts in São Paulo’s Allianz Parque from 24-26 November.

“For the shows at Allianz Parque, we follow the new position of the authorities,” added Abreu. “Flexible water bottles are allowed to enter, in addition to the disposable water cups that have always been released.”

 


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T4F implements action plan after Swift fan’s death

South American promoter Time for Fun (T4F) has implemented a spate of changes for Taylor Swift’s final Eras concerts in Rio de Janeiro following the death of a 23-year-old fan who fell ill while attending the singer’s show.

According to local media, Ana Clara Benevides Machado fainted during Swift’s performance at Estádio Nilton Santos on Friday in the midst of Brazil’s record-breaking heatwave. She was rushed to hospital, where she died after suffering a reported cardiac arrest.

“It’s with great sadness that we inform you about the death of Ana Clara Benevides Machado aged 23,” said T4F on social media. “Ana Clara felt unwell and was assisted by a team of emergency workers and paramedics, being taken to a medical centre at Nilton Santos Olympic Stadium so the first aid protocol could be applied.

“Given the situation, the medical team opted to transfer her to Salgado Filho Hospital. After nearly an hour of emergency assistance, she regrettably died. We send our most sincere condolences to the family and friends of Ana Clara Benevides.”

Temperatures reached 39.1 C in Rio on Friday, while Fortune reports that apparent temperature – a combination of temperature and humidity — hit 59 C that morning, the highest index ever recorded in the city.

T4F has been criticised by concert-goers and politicians in the wake of the tragedy as fans were banned from bringing their own water bottles into the venue. However, the promoter insisted yesterday that it had no say in the matter due to “a requirement made by public bodies”, and confirmed it was enforcing a special action plan for Swift’s remaining gigs on 19-20 November.

“The prohibition of bottles of water entering stadiums is a requirement made by public bodies”

“Given the forecast of an increase in the heat wave in the city of Rio de Janeiro, we inform you that we are reinforcing the special action plan carried out for the first day of the show, especially the provision of free water in the queues and at all accesses and entrances to the stadium and inside,” the firm told ticket-holders.

“New free water distribution points will be available to the public during the event. Entry to the stadium with sealed glasses of water and sealed processed food will also be permitted, with no limitation on items per person. We also emphasise that the prohibition of bottles of water entering stadiums is a requirement made by public bodies and that we do not sell drinks and food, this being a responsibility of the stadium administration.”

T4F said “about 200” extra employees would be added to the 1,230 staff already working on the dates for the last two shows, in addition to an enhanced emergency service presence.

“The medical care structure was reinforced, totalling eight available medical stations, eight ambulances and eight mobile ICUs,” it concluded.

Swift postponed her scheduled Saturday concert (20 November) to tonight as a result of the “extreme temperatures” and returned to the stage last night for her second of three nights at the 70,000-cap stadium. She will wrap up Eras‘ Brazilian leg this weekend with three concerts in São Paulo’s Allianz Parque from 24-26 November.

 


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Luiz Niemeyer on Brazil’s hottest new festival

Luiz Oscar Niemeyer, the promoter behind a number of the biggest live shows in Brazilian history, has told IQ about the evolution of his new festival Music Is The Answer.

The Brazilian veteran is renowned for organising concerts such as Paul McCartney’s 1990 concert at the Maracanã, which attracted 184,000 people, and The Rolling Stones’ historic performance to over 1.5 million people on Copacabana beach in 2006.

He is also responsible for the groundbreaking Hollywood Rock festival (1988–1993), which took place in São Paulo and Rio de Janeiro and drew world-class artists including Bob Dylan, Bon Jovi and Eurythmics.

“Nothing like Hollywood Rock has happened in Rio and São Paulo since then but we had massive success with this two-city model 20 years ago so we’re repeating it with Music Is The Answer (MITA),” Niemeyer tells IQ. 

Launched during the pandemic, MITA takes place in both Brazilian cities across two days at the end of May. The two-stage, daytime festival is slated to return for a second edition this year, headlined by Lana Del Rey and Florence + the Machine.

“We had massive success with this two-city model 20 years ago so we’re repeating it with MITA”

Niemeyer says the two-city model has been a crucial factor in securing artists from across the globe, as well as sponsorship deals.

“Rio is the door to Brazil – all the artists want to play it – but São Paulo is the main market and the biggest city, where all the companies are established. It’s a very important market for sponsorship and selling tickets because 20 million people live there.

“If we only did Rio, we wouldn’t have enough to offer the artists. If I offer them two cities and maybe a concert in the middle, I’ve got a nice package for them.”

Niemeyer says that MITA is the only festival offering such as package, which helps it stand out from a competitive festival market that includes Rock in Rio, Lollapalooza and Primavera.

“I would say we’re the third festival in Brazil right now… probably bigger than Primavera because we do two nights in two cities,” he explains. “Rock in Rio and Lolla are major festivals – they play for 100,000 people per night. We do have competition because our acts play those festivals but we have a different proposal. I think the artists now value what we’re doing and they want to play our festival. You can see that by the talent we managed to book.”

“I would say we’re the third festival in Brazil right now, behind Rock in Rio and Lolla”

A bigger investment in talent is one of the main changes for this year’s MITA, according to Niemeyer. While the debut edition offered five international acts – Gorillaz, Rufus du Soul, The Kooks, Two Door Cinema Club and Tom Misch – this year’s will deliver eight.

In addition to the aforementioned headliners, Haim, Flume, The Mars Volta, BadBadNotGood, Sabrina Carpenter and Jehnny Beth make up the international representation on the MITA 2023 bill.

The bigger budget is thanks, in part, to more sponsorship as well as the move to a bigger location in São Paulo – from Spark Arena (cap. 12,000) to Novo Anhangabaú (35,000).

The Rio edition, meanwhile, will once again take place at the 20,000-capacity Jockey Club as “it’s linked to the brand, image, spirit and philosophy of the festival”.

Niemeyer says that both festivals are almost sold out and that this edition will recoup losses from the debut edition, which was faced with additional challenges due to the Covid-19 pandemic.

“We’re living in a very enthusiastic moment in our business”

“Last year, we had several problems,” he says. “We opened sales in late November 2021 and, in mid-December, Brazil suspended all outdoor activities because of this new variation. Also a lot of suppliers shut down over Covid and the remaining ones didn’t have the same labour force to fulfil the demands. There were several surprises for the first festival and we had to go above budget, ending up with a bigger loss than we expected.

“But now, there’s no pandemic anymore and everything’s under control. Our budget is according to new prices and we’re prepared to work with no surprises. This year, we’ll recoup losses from the first edition and from the third year on, we’re going to be very profitable.”

Though Brazil is reckoning with extraordinary exchange and interest rates, Niemeyer says business has been “booming” since the pandemic: “We’re living in a very enthusiastic moment in our business. People are eager to go out and have fun experiences. Coldplay did 10 or 11 stadium shows recently and sold out, Rock in Rio in September was a big success. Everything is doing well.”

Niemeyer is promoting MITA under his new company, Bonus Track, which was formed after he left T4F (Time for Fun), South America’s leading live entertainment company.

T4F bought Niemeyer’s company Planmusic in 2016 and later appointed him head of live music/entertainment activities on a five-year contract, which ran out during the pandemic.

In addition to launching MITA alongside local promoter Thirty Entertainment, Bonus Track manages the Teatro XP Investimentos theatre at the Jockey Club headquarters in Gávea. The company will also revive Rio de Janeiro’s iconic Canecão arena, which has been closed for 12 years.

 


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Public live cos add nearly $6bn since March crash

The main publicly listed live entertainment companies have added US$5.75 billion – or nearly $1bn a month – to their collective value since the worst of the Covid-19-induced stock-market crash in March, new analysis reveals.

Combining the market capitalisations of Live Nation, CTS Eventim, DEAG, Time for Fun and Eventbrite, as well as a relevant percentage of Vivendi’s business, shows the six companies were worth nearly $6bn more on 21 September than 20 March, in spite of the six-month-and-counting shutdown of nearly all live experiences.

As in previous IQ coverage of live music’s (pre-coronavirus) stock-market performance, Live Nation Entertainment – the world’s biggest live entertainment business – is the biggest mover, growing its market cap by nearly 60% in the period analysed.

Worth $7.29bn on 20 March, with a share price of $33.97, Live Nation (LYV)’s market cap stood at $11.55bn six months later, with most financial analysts confident the concert behemoth will bounce back strongly post-pandemic. As of 9 September, of the 12 firms covering Live Nation stock, seven have assigned it a ‘buy’ rating, one a ‘strong buy’ and one a ‘hold’, with none recommending a ‘sell’.

While the recovery of Live Nation – which has made an estimated $600m in savings this year, believed to include widespread redundancies globally – is impressive, five of the six businesses included have rebounded strongly over the last six months, with only DEAG shares having declined in price as of 21 September.

Berlin-based Deustche Entertainment AG (LOUD), which trades on Frankfurt’s Xetra exchange, had around $11 million (€9.4m) shaved off its market cap after the value of its stocks fell from €3.48 on 20 March to exactly €3 on 21 September. As of the latter date, DEAG’s market capitalisation was €58.9m ($68.9m), down around 14% on €68.3m ($79.9m) six months previous.

Live Nation is the biggest mover, growing its market cap by nearly 60% in the period analysed

Yet DEAG stock, too, is strongly rated by market watchers: analysts’ ratings similarly lean heavily towards a ‘buy’, with even the most pessimistic financial observers giving the company’s stock a price target of €3.50 in the short term (while noting that DEAG should “return to pre-corona levels” by 2022).

Of the other four businesses, another German company, public pan-European concert and ticketing giant CTS Eventim, was the stand-out performer, growing its market cap more than $1bn by adding nearly €10 to its share price.

Compared to 20 March, when its share price was €31.78 and market cap €3.05bn, CTS Eventim (EVD) shares traded at €41.14 six months later, giving the company a market capitalisation of €3.95bn at the time of writing.

Brazil’s Time for Fun/T4F Entertainment (SHOW3) – the largest promoter in South America – has seen its value increase 42%, from R$131m ($23.8m) to R$186.1m ($33.8m), while US-based self-service and club ticketing specialist Eventbrite (EB) is up 61%, growing its market cap from $649.2m to $1.06bn in the same period.

French media conglomerate Vivendi (VIV), meanwhile, has seen its market cap rise from an estimated €20.9bn in March to €26.38bn on 21 September. The company’s Vivendi Village unit – which incorporates its live (Olympia Production, U Live, festivals and venues in France and Africa) and ticketing (See Tickets, Starticket, Paylogic) businesses – accounts for some 0.34% of the business: €26m in revenue, of €7.58bn total, per its H1 2020 report.

Many outside observers agree live music’s recovery will be complete by 2022

While it should be noted the industry is far from back to its pre-Covid-19 value – Live Nation stocks were once worth nearly $75, while Eventim shares hit a high of €60 in January – the rally bodes well for a sector often described as the first to close and last to reopen, and which has been hit particularly hard by the impact of the virus.

Additionally, the live music industry welcomed two newly public businesses – MSG Entertainment, spun off from the Madison Square Garden Company, and Warner Music Live/Umbrella Artists owner Warner Music Group, which floated in April and June, respectively – in the same period, and which would likely have pushed the $5.75bn figure even higher were those companies trading in March.

With so-called second lockdowns looming in many territories, it remains unclear how global markets will perform in the months ahead, as well as the effects, positive or otherwise, any volatility will have on live music stocks.

One thing, however, many outside observers seem to agree on is that live music’s recovery will be complete by 2022.

As IQ revealed earlier this month, financial consulting firm PricewaterhouseCoopers (PwC) is predicting a complete recovery by 2022, with the value of the live music market (public and private) set to reach $29.3bn – over $300m more than 2019’s $28.97bn – that year, while investment bank Goldman Sachs is similarly bullish, with its head of European media research, Lisa Yang, also heralding a return to normal in 2022.

Read PwC’s live music growth predictions here:

Live music down 64% this year – but will rebound in 2021


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T4F sells stock-car biz to focus on music

Time for Fun (T4F Entertainment) has sold its shareholdings in Vicar Sports Promotions, the promoter of Brazil’s popular Stock Car and Stock Car Light racing series, to focus on its core live music business.

Sao Paulo-based T4F is South America’s leading live entertainment company, promoting shows and festivals and running venues in Brazil and Argentina. It has been in control of the Nascar-inspired Stock Car series since 2006.

The sale of Vicar, to Veloci Investments, is “aligned to the company’s strategic planning in order to increase its efforts to the promotion of major music festivals and live concerts, as well as family events and theatre”, according to T4F’s CFO, André Pinheiro Veloso. T4F’s festivals include Lollapalooza Brazil and Popload Festival.

The proceeds will reinforce Time for Fun’s cash position, he adds.

Similarly to other public live entertainment businesses, T4F saw its turnover decline 98% in the second quarter of 2020 as touring ground to a halt.

 


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Cash reserves intact as T4F revenue falls 98%

Time for Fun (T4F), South America’s largest live entertainment company, saw its turnover decline by 98% in the second quarter of 2020, its latest earnings release reveals.

Brazil-based T4F, which trades on Sao Paulo’s B3 stock exchange, reported revenue of R$2.6 million (US$475,425) in Q2 2020 – down from R$132.4m (US$24.2m) in the same period in 2019. For the half-year ending 31 June 2020, the figure is R$35.1m (US$6.4m), a decrease on 86% on H1 2019’s R$253m (US$46.2m).

In losing 98% of its revenue in Q2 2020, T4F is in good company: US-based Live Nation, the world’s biggest live entertainment firm, experienced the same decline in the same period.

Profit figures were even more bleak, with earnings before interest, taxes, depreciation and amortisation (ebitda) falling 585.5%, leaving T4F with a Q2 loss of R$15.5m (-US$2.8m).

Cost-cutting measures have delivered a 36% reduction in expenses

However, the company – which promotes concerts, festivals and theatrical shows, and sells tickets as Tickets 4 Fun – can take comfort in the fact that 50 events, worth 327,000 tickets, have been rescheduled for when large-scale shows are allowed again, while previously announced cost-cutting measures have delivered a 36% reduction in expenses compared to 2019.

This “cash maintenance” plan, it says, means the group has lost a comparatively low R$4.6m (R$1.7m net) compared to Q1 2020.

Its cash reserves as of the end of June were $217.9m ($39.8m) gross and $57.2m ($10.4m) net.

The full Q2 2020 financial report is available from the Time 4 Fun website.

 


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T4F directors quit as part of cost-cutting measures

Time for Fun (T4F), South America’s largest live entertainment company, is proposing to shrink its board of directors as part of ongoing cost-cutting measures in response to the coronavirus.

T4F, headquartered in Sao Paulo, Brazil, has already accepted the resignations of three directors – Luciano Nogueira Neto, Maurizio de Franciscis and Guilherme Affonso Ferreira – and further proposes to reduce the size of the board at its next shareholders’ meeting on 22 July, according to a market notice issued by the B3-listed company on Monday (22 June).

Fernando Luiz Alterio, vice-president of the board, will continue to fill in as interim chairman until the appointment of a new chair, the company adds.

A programme of cost-cutting was originally implemented at T4F in March, shortly after the postponement of its flagship festival, Lollapalooza Brazil.

Last month, in its Q1 earnings report (which showed initial Covid-19-related losses of R$5.1 million (US$986,200), the promoter outlined further money-saving measures, including a 30% reduction in staff numbers (compared to March), two-month lay-offs for 17% of remaining staff, and the suspension of contracts with suppliers.

 


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Live stocks hit as coronavirus batters markets

The major publicly traded live entertainment companies have seen the value of their shares decline this week, as stock markets around the world reel from fears over the impact of the Covid-19 coronavirus.

Markets in Europe, Asia and the Americas are suffering their worst week since the global financial crisis of 2008, according to the BBC, with the spread of coronavirus affecting both the global supply chain and consumer demand.

Live Nation CEO Michael Rapino referred to the “resilience” of music fans in the company’s earnings call yesterday (27 February), stating that consumers are still buying tickets worldwide, despite the ongoing spread of Covid-19.

The company’s share price, which reached an all-time high of US$76.08 earlier this month, has fallen by 20% in the past few days, in keeping with the global stock market drop. Shares are back up 2% today, following the publication of strong 2019 financial results.

Shares for German ticketing and promotion powerhouse CTS Eventim have taken a similar hit, falling by just under 20% since last week. Eventim shares reached a record high of €61.30 ($67.27) on 24 January 2020.

“We’re confident that, long-term, the show will happen”

Fellow German company Deutsche Entertainment AG (DEAG), whose shares have climbed almost 30% to €6.30 ($6.92) since mid January, has seen a 22% drop since last week, whereas shares for New York-based Madison Square Garden Company (MSG) have decreased by around 17% in the past week, falling to $261.34.

In Latin America, Sao Paulo-based Time 4 Fun’s shares are also down 22%, from BRL5.41 ($1.20) to BRL4.24 ($0.94). Brazil recorded its first case of coronavirus on Wednesday, marking the virus’ arrival to Latin America.

It is not just live entertainment companies that have suffered in the wake of coronavirus. The S&P 500 index, a measure of the stock performance of 500 large companies listed on US stock exchanges, has fallen 15% from the record high it achieved just last week.

Although coronavirus has already caused the cancellations of thousands of shows across Asia and Europe, not all are worried about the long-term impact. “We’re confident that, long-term, the show will happen,” says Rapino. “The revenue will flow and the fan will show up.”

 


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Kylie, Little Mix to play all-female T4F festival

LittleBrazil’s Time For Fun (T4F), the largest live entertainment company in South America, is launching GRLS!, a new two-day festival celebrating the role of women in music.

Kylie Minogue and Little Mix are heading up the event’s all-female line-up, which also features US rapper Tierra Whack and Brazilian acts Linn da Quebrada, Gaby Amarantos and Mulamba.

Curated by Brazilian music platform Popload, GRLS! is taking place on 7 and 8 March – International Women’s Day – at the Latin American Memorial in São Paulo.

Talks, lectures and workshops focusing on the role of women in culture will also form part of the event’s programming.

“Our main goal was to design a festival made by women and non-binaries, that would also lead to an all-gender debate about the role and representation of women in our culture”

“Our main goal was to design a festival made by women and non-binaries, that would also lead to an all-gender debate about the role and representation of women in our culture,” explains Paola Wescher, T4F artistic director and Popload partner.

“Women always have to try harder, impose themselves more and achieve more to be respected. We have many strong women in all sectors of the music industry, both on stage and behind the scenes, making everything happen. We want to amplify these voices and be a milestone in this regard.”

More information can be found here.

 


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T4F’s Credicard Hall becomes UnimedHall

Brazil’s Time 4 Fun (T4F), the largest live entertainment company in South America, has secured a new naming-rights agreement for its venue in Santo Amaro, Sao Paulo.

The 7,500-capacity theatre formerly known as Credicard Hall is now called UnimedHall, with health cooperative Unimed becoming its naming sponsor for the next five years.

Since opening in 2000, UnimedHall has hosted performances by artists including Oasis, Kylie Minogue, Avril Lavigne, Demi Lovato and BTS.

T4F’s other venues include the KM de Vantagens Hall (8,450-cap.) in Rio de Janeiro and the Renault Theatre cinema in Sao Paulo.

 


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