Digital Ally and Clover Leaf Capital (CLOE), a publicly traded special purpose acquisition company (SPAC), have announced that the former’s subsidiary Kustom Entertainment and CLOE have entered into a merger agreement. Kustom Entertainment is a wholly owned subsidiary of Digital Ally, which focuses on live events, concert production and ticketing. The group comprises TicketSmarter and …
DEAG announces bond issue of up to €50m to finance further growth
DEAG Deutsche Entertainment has today (Tuesday) issued a Corporate Bond amounting up to €50m (£43m/$53m). The executive board of the Berlin-headquartered entertainment and ticketing company, along with the consent of the supervisory board, reached the decision to finance further growth and refinance the Corporate Bond 2018/2023. The Bonds 2023/2026 in a nominal amount of €1,000 …
K-pop’s Hybe agency targets $380m for global M&A push
South Korean K-pop giant Hybe is reportedly seeking $380m in new finance as it targets an M&A drive in the Americas. The entertainment group, which has spearheaded BTS’s global success and owns the Ariana Grande label Ithaca Holdings, is in talks with investors to secure “equity financing” worth the equivalent of 500 billion won to …
UK festivals will barely break even in 2023 – AIF report
UK festivals face tight margins in 2023 due to soaring costs, according to data collected in the Association of Independent Festivals’ (AIF) first-ever Festival Forecast report. Based on a survey of AIF members, carried out in April 2023, the report shows that AIF festivals are on course to make a collective gross revenue of £195m …
Magic raises $52m in strategic funding round
Magic, a wallet-as-a-service (WaaS) provider, has raised $52m (£42m/€49m) in a strategic funding round led by PayPal Ventures, with participation from Cherubic, Synchrony, KX, Northzone, and Volt Capital. The latest round brings the total raised to over $80m. Magic works with companies that are looking for a way to incorporate Web3 into their offerings. Magic …
Oztix acquires Australian rival agency Local Tickets
Australian ticketing company Oztix has acquired small-events-focussed agency Local Tickets. Through the deal, Local Tickets, which specialises in events across Australia, will rebrand as LocalTix effective immediately. All LocalTix’s existing clients will automatically have access to an expanded suite of Oztix product features as part of the businesses coming together. Additionally, Oztix events will now …
DEAG sees strong start to 2023
Live entertainment and ticketing company DEAG Deutsche Entertainment AG (DEAG) has witnessed its revenues increase in the first quarter of 2023. In the first three months of this year, revenues have increased by 55% to €48m (£42m/$52m), compared to €31m in the same period, the year prior. It is also an improvement on the €25.5m …
CTS Eventim reports strong start to 2023
Ticketing and entertainment company CTS Eventim has witnessed a robust start to 2023, growing its consolidated revenue by 163% compared to the first quarter of last year. In the first quarter of 2023, consolidated revenue amounted to €366m (£319m/$395m), a major increase on €139m in the first quarter of 2022. It is also an improvement …
Vivid Seats stockholder Hoya Topco puts 16 million shares up for sale
Vivid Seats has announced the pricing of a secondary underwritten public offering of 16 million shares of the Company’s Class A common stock by stockholder Hoya Topco, at price to the public of $8 (£6/€7). The stockholder has also granted the underwriters a 30-day option to purchase up to an additional 2.4 million shares of …
Web3 platform Humbl receives funding commitment
Web3 platform Humbl has announced that it has entered into an Equity Financing Agreement with Pacific Lion, pursuant to which Pacific Lion agreed to purchase up to $20m (£16m/€18m) of Humbl common stock. Humbl offers product lines including the Humbl Wallet, Humbl Search Engine, Humbl Social, Humbl Tickets, Humbl Marketplace and Humbl Authentics. Pacific Lion, …