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ATC raises over £4 million via IPO

By | Published on Monday 20 December 2021


Artist management and booking agency business ATC will list on the Growth Market of the Aquis Stock Exchange tomorrow, having raised £4.15 million of new capital through a share sale. On admission to the stock exchange the company will have a market capitalisation of approximately £14.66 million.

The ATC Group includes the firm’s artist management company and booking agency, as well as the Driift live streaming business, and a division providing other music industry services. In a statement ahead of the stock market listing, the group said that it was developing its model “to provide a fully integrated service empowering creators and artists to build optimum commercial structures to generate increased revenues and profits”.

It also added that the group’s directors believe “the music industry remains fragmented in the mid-market sector and, combined with the disruption caused by the COVID-19 pandemic, this results in a significant opportunity for companies such as ATC with integrated and resilient business models to capitalise on a number of structural growth areas by way of organic and acquisitional expansion”.

ATC founders Brian Message and Craig Newman are among the board members of the newly formalised ATC Group, which has also appointed Adam Driscoll as CEO. He has headed up various music companies over the years, and is perhaps best known for his time as co-CEO of the MAMA Group.

Commenting on the group’s recent share sale, which included asset management company Schroders buying an almost 10% stake, Driscoll said last week: “I am delighted that new investors have bought into our vision, appreciating the scale of the opportunity out there for a holistic artist-focused music group in a rapidly evolving industry. The board and I look forward to welcoming our new institutional and individual shareholders to the group”.

“We have built a strong position in our industry, representing artists such as Nick Cave And The Bad Seeds, The Smile, PJ Harvey, Faithless and Johnny Marr, as well as organising the live performances of over 400 artists”, he added. “Our livestreaming business, Driift, was established in response to the COVID pandemic and has since developed a reputation as one of the leading providers of premium content in the livestreaming market, producing successful events for the likes of Kylie, Bocelli, Dermot Kennedy and Niall Horan”.

“The strength of our model, where we combine a number of music industry verticals under one roof, enables ATC to be more invested in and integrated with an artist’s overall business”, he went on. “This move onto the public markets will enhance our profile and strengthen our position in negotiating and executing on agreements with partners, suppliers and clients. In addition, this IPO provides us with additional resources as well as greater flexibility and capacity to build a significant business through organic growth and acquisition”.