Live Company Group Plc announced that KPOP LUX Limited have signed a new agreement with a branding and promotional business Birdman Inc. KPL and Birdman Inc. intend to collaborate on the staging and promotion of an annual K-Pop concert to take place in Nagoya, Japan on each of 10th and 11th June 2023 to be called 'KPOP LUX© in Nagoya', during a four-year term. KPL will act as Executive Producer of the concert and in this capacity will enter into a separate agreement with Live Company Korea pursuant to which LVK is appointed to identify and contract with the K-Pop artists appearing at the concert. The agreement between KPL and Birdman Inc. is conditional on the agreement between KPL and LVK being signed by 17 February 2023.

In 2023 there will be a minimum of seven mutually agreed groups and/or individual Artists performing at the Concert each day. S Level artists are the most popular and well-known artists in the K-POP world. In return for providing the brand name and establishing a digital and PR strategy internationally KPOP LUX will receive a licence fee of $1,000,000 payable in three tranches: $450,000 immediately due, $300,000 on 31 March 2023 and $250,000 on 30 April 2023.

All ticket revenue for the concert will go to Birdman Inc. Birdman Inc. will be responsible for staging the Concert in Nagoya, the contract and hire of the Venue and all related costs and promotion throughout Japan as well as being responsible for selling 100% of the tickets. Subject to paying its contractual commitments, Birdman Inc. will retain the monies from the ticket sales. Additional revenue will be generated via merchandise, sponsorship (Birdman Inc. will receive commission for any Japanese Sponsorship they arrange) TV broadcasting and streaming and a profit share.

KPL shall own all copyright and commercial rights in the Concert (including live streaming rights distribution rights, merchandise rights and sponsorship rights). Birdman Inc. can retain 40% of the net revenues for Concert Mark merchandising at the venue. While K-pop has existed for decades, last few years the genre has spread globally amassing armies of fans and it has exploded onto the music scene in Japan where spend per ticket including merchandise spend is significantly higher than in other countries.