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Live Co Group PLC on Monday said that K-Pop Lux Ltd has signed a new agreement with Birdman Inc, a branding and promotional business, to collaborate on the staging of a K-Pop concert. Live Co is a Surrey-based live events and entertainment group. K-Pop Lux is a division of the company that organises, promotes, and co-promotes K-pop concerts in Europe and Asia. Shares in Live Co jumped 36% to 3.41 pence each in London on Monday morning. Under the terms of the agreement, K-Pop Lux, will work with Birdman on the staging and promotion of an annual concert to take place in Nagoya, Japan on June 10 and 11 over a four-year term. KPL will act as executive producer of the concert, entering a separate agreement with Live Company Korea according to which the latter will identify and contract with the K-Pop artists appearing at the concert. In 2023 there will be a minimum of seven mutually agreed groups or individual artists performing each day. Birdman will be responsible for staging the concert, including the contract and hire of the venue and all related costs and promotion throughout Japan. Subject to paying its contractual commitments, Birdman will retain the money from the ticket sales. In return for providing the brand name and establishing a digital and PR strategy internationally, K-Pop Lux will receive a licence fee of $1.0 million, payable in three tranches: $450,000 immediately due; $300,000 on March 31; and $250,000 in April. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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