Live Company Group Plc – 2017 Full Year Audited Results

28 June 2018

Live Company Group PLC (AIM: LVCG) is pleased to announce its audited results for the year-ending 31 December 2017.


The Annual Report and Accounts will be sent to shareholders later today, and will be made available today on the Group’s website

The Notice of Annual General Meeting of the Company, to be held at 10.30 a.m. on 18 September 2018 at the offices of Shard Capital Partners LLP, 20 Fenchurch Street, EC3M 3BY, will be despatched separately and details will be notified at that time.



Live Company Group Plc

David Ciclitira                                                                     Tel: 020 7225 2000


Stockdale Securities Limited

Richard Johnson / Edward Thomas                                Tel: 020 7601 6100


Shard Capital Partners LLP

Damon Heath                                                                      Tel: 0207 186 9950


W Communications, PR agency

James Porter                                                                        Tel: 07568 514 244



Who We Are

Live Company Group Plc (“LVCG”) (name changed from Parallel Media Group Plc on 22 December 2017) is an AIM-listed sports and live event entertainment agency which was founded by David Ciclitira in 1987, although in recent times it had few trading operations. The Board of LVCG had for some time been looking for an acquisition in the live entertainments sector and on 22 December 2017, LVCG acquired Brick Live Group Limited and subsidiaries (“Brick Live Group”) and Parallel Live Group Limited and subsidiaries (“Parallel Live”).

Brick Live Group is an early stage business in fan based live events, whose principal source of revenue is licensing fee income. Its business specialises in working with the Group’s licence partners to produce BRICKLIVE branded events internationally. The concept has evolved from an initial once-per-annum brick exhibition in 2016 to today where it is a brand with a leading network of international partner-driven events, designed to showcase the benefits of LEGO® as an educational tool. LEGO® is a trademark of the LEGO Group of companies and Brick Live Group is not associated with the LEGO Group of companies and is an independent producer of BRICKLIVE events.

The business model has also changed from one where Brick Live Group was originally itself acting as the promoter of the events as principal, to the current model whereby the Group’s network of licensee partners, are typically granted a license to organise and stage BRICKLIVE events in a specific territory for a 3 to 5 year period, in exchange for a fee.

The Directors consider that Asia in general and China in particular will be areas where BRICKLIVE events will be well received and on the same date, LVCG also acquired the remaining 61.1% of shares in Brick Live Far East Limited, not already owned by the Brick Live Group.

In February 2018, Parallel Live promoted its first Lego® Live event in New York, USA. Whilst the show received a lot of critical acclaim, financially it incurred a loss. As a result, the Board of LVCG determined that in future the Company will look for a licence partner for its future BRICKLIVE events in the United States.

Brick Live Group has been growing quickly since it was established in April, 2016 and the Brick Live Group has been successful in extending the global footprint for BRICKLIVE events which has increased from 1 show in held in the UK during the year ended 31 December 2016 to 18 shows held in UK, Europe, Japan, South Korea and latterly Brazil during the year ended 31 December 2017. Further growth in the number of events is planned for the year ended 31 December 2018.


Chairman’s Statement

I have pleasure in presenting the Company’s Annual Report, Strategic Report and Financial Statements for the year ended 31 December 2017.

The last twelve months has been both exciting and challenging.

Whilst these financial statements cover the 12 month period to 31 December 2017 these only include 9 days trading for the Group subsequent to the acquisitions of Brick Live Group and Parallel Live Group. I have therefore included in my statement commentary on the Group going forward from this period.

The acquisitions of Brick Live Group and of Parallel Live Group by LVCG has created a global brand in Brick Live.

The Group made an operating loss of £391,000 (2016: profit £60,000), and a loss of £5,440,000 (2016: profit £49,000) for the year, as a result of exceptional costs and write downs relating to the reverse acquisition of Brick Live Group on 22 December 2017. Licence fee revenue in 2017 was £1,715,000.

The first six months of 2018 have seen the continuing growth of the BRICKLIVE brand with the introduction of BRICKLIVE CENTRES in Korea, China and Guam, the introduction of BRICKLIVE KIDS CAFÉs in Korea and China, as well as the introduction of BRICKLIVE KIDS in Korea and China. We are also announcing today the launch of BRICKLIVE TOURING in Korea and Macau. BRICKLIVE TOURING is expected to become a significant financial contributor to the business.

This year’s growth has led the Board to re-evaluate its priorities for 2018, increasing its focus on Asia and the USA, whilst reducing its commitment to Brazil. The number of contracted events for 2018 is expected to be approximately sixty.

One of the key developments in the first six months of 2018 is the various BRICKLIVE brand extensions. This month (June 2018) has seen the launch of the first BRICKLIVE KIDS CAFÉ in Seoul with a further five to be launched in China this year. We are also in discussion with parties for the extension of BRICKLIVE KIDS CAFÉ in a number of other territories globally.

Similarly, in terms of centres we have seen significant growth in the BRICKLIVE CENTRE program. We expect to have a total of five contracted by the year-end across both Korea, China and Guam.

At the same time as developing the BRICKLIVE footprint, we have continued to invest in our asset pool. In 2017 we invested £738,000 in fixed assets and in the first six months of 2018 we have spent a further £165,000, principally on content.

We continue to make an investment in staff to ensure that the Group has sufficient resources to accommodate its planned growth.

With the pipeline for future licence partners and other content deals strong, we expect the 2018 revenues to show growth on 2017.

I would like to thank our Board of Directors and especially our non-executives who have provided invaluable experience and advice. As previously stated, it is our intention to add a further Non-Executive Director and a full time Finance Director to our Board in 2018, provided candidates of sufficient quality can be recruited.

I would like to thank all of our staff, especially those who have been with Brick Live Group since its inception in April 2016. We are also pleased to announce that we are planning to implement an EMI option scheme by the end of 2018 for all key staff to share in the growth of our company.

Finally, I would personally like to thank all of our shareholders, both those who are partners within the business as well as those who have supported me over the last eighteen months, and look forward to meeting them in person at our Annual General Meeting on 18 September 2018, details of which will be circulated in due course.


David Ciclitira


27 June 2018


The full results can be found here: