As at its announcement on Sept 13, the group’s concert production projects are limited to the Angela Zhang concert in China. GHY’s indirect associated company, Tianjin Xinyuan Culture & Broadcast Co, had entered into the cooperation agreement for the grant by Xinchengsi International Music Production Co., Ltd. of the concert production rights for Angela Zhang’s World Tour 2024 concert in Changshu, China. The concert is scheduled to be held on Oct 13.
GHY Culture & Media says its concert production business will likely face a “deterioration” in earnings prospects due to the existing market conditions and challenging labour conditions. According to the group, its concert production team, who are responsible for overseeing the overall concert organisation business segment, have left to pursue “other personal opportunities”.
Meanwhile, the group’s China-based concert production team will continue to oversee the group’s concert management business in the country.
