London-headquartered All Things Considered (ATC) Group says it’s looking into listing on the London Stock Exchange after more than doubling its revenue in 2024.
In a statement on Monday (February 10), the independent music company said its revenue for 2024 was around GBP £50 million (USD $63.9 million at the average exchange rate for 2024).
That’s a 107% YoY increase from the £24.1 million that ATC reported in 2023.
The company’s performance was driven by “continued organic growth from the successful integration of new managers, agents and artist clients, as well as contributions from strategic acquisitions which have materially enhanced the Group’s value proposition.”
Those strategic acquisitions have seen ATC spend a multimillion-dollar sum on M&A in the past three years, with the company purchasing:
- A 50% stake in McKeown Events (now known as Joy Entertainment), via a GBP £475k transaction in 2024;
- A 55% stake in Raw Power Management, via a £1.41 million transaction in 2024, which brought into the ATC fold artists such as Bring Me The Horizon, Bullet For My Valentine, The Mars Volta, The Damned, You Me At Six, and Don Broco;
- A 60% stake in merch firm Sandbag, which was the primary driver of a 156% spike in revenue at ATC that year. According to company documents, ATC’s majority stake in Sandbag was acquired in 2023 for an initial amount of GBP £2.42 million.
Meanwhile, last year ATC signed a “cooperation agreement” with China-based music company Modern Sky, and launched a transatlantic music promotion company called Circa.
In its latest investor update, ATC also announced its plans to fully acquire live-streaming platform Driift for an as-yet-undisclosed sum.
ATC currently holds a 32.5% stake in Driift and says it has now signed agreements with the remaining shareholders to take a 100% stake in Driift Holdings.
ATC said it saw strong growth in 2024 across all three of its divisions – artist representation, services, and live events and experiences – but didn’t break down earnings numbers for the individual businesses.
Founded two decades ago by Craig Newman and Brian Message – now the company’s co-Chairmen – ATC has focused on a strategy of acquisitions that have enabled it to expand to a variety of services amid the shift to digital music. ATC today includes ATC Management, booking agency ATC Live, ATC Services, ATC Experience and live-streaming service Driift.
“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.”
Adam Driscoll, ATC Group
The company says it now represents approximately 860 clients across 1,080 “business engagements”.
According to its website, ATC Management’s represented roster includes artists such as Daniel Avery, Faithless, Johnny Marr, Keaton Henson, Nick Cave, PJ Harvey, Sleaford Mods, and Yaeji.
Besides its London headquarters, it also operates offices in Los Angeles, New York, and Europe.
“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,” the company said in its investor update this week.
“Consideration is at an early stage and further updates will be provided as appropriate.”
ATC Group PLC is currently listed on the subscription-based exchange Aquis, where it raised £4.1 million in its IPO in 2021.
“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,” ATC CEO Adam Driscoll said.
“We have entered the new year with the building blocks in place and the scale to capitalize 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.”Music Business Worldwide
