It's pretty exciting / interesting and a company that's fun to be backing. Hard to quantify what exactly a deal like that would mean to Brag, I assume they essentially get to run the entire festival, fees being artists (would hope a %age fee), administration, staff, facilities etc.
70k - 100k people expected to attend, a ticket for the cheapest day on Moshtix is like $146, if there's 70k attendees that's like $10.2mil in ticket sales based on avg price of $146...? Then camping fees, refreshments and all the rest. I'm sure there's lots of profit to be made on an event like this.
I'm excited about this acquisition, it's a great fit - they can promote the other brands via TheBrag, and it is in itself a business with nice growth potential with the right people behind it. I think TheBrag is a decent chance of hitting the acquisition milestones, based upon my assumptions of this deal, which is a win for both the vendors and VNL shareholders.
Might even get some tickets, maybe a tax deduction - LOL.
https://www.moshtix.com.au/v2/event/byron-bay-bluesfest-2024/151382?ref=search_brand&gad_source=1&gclid=Cj0KCQiAwvKtBhDrARIsAJj-kTiu_axg-8sT9CoFYhbI0O8gL-ye50vCoGIjM9vBa2Cx0czBlGfQI9caAqkqEALw_wcB
It's pretty exciting / interesting and a company that's fun to...
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