Time for fun over after Madonna concert flop



T4F Entretenimento's plunge from the world's most expensive concert promoter to one of the cheapest has analysts predicting a rebound.

All six analysts who rate the company known as Time 4 Fun reiterated or raised their ratings to the equivalent of a "buy" since mid-last month, data compiled by Bloomberg shows.

Time 4 Fun said it had traded at 10.8 times estimated 2013 earnings as of last week, the cheapest among global peers after Germany's DEAG Deutsche Entertainment and South Korea's SM Entertainment. Based on this year's profit, the stock had the industry's highest ratio at 43.

Time 4 Fun plunged 58 per cent since the beginning of September after the Brazilian billionaire Eike Batista's entertainment venture IMX Arts lured away one of its headline shows and weak demand for concerts from Madonna to Lady Gaga forced the promoter to sell tickets at a discount.

Demand for live events will rise as growth picks up in Brazil, the world's second-largest emerging economy, according to Bruno Piacentini, a partner at Fama Investimentos.

"It's definitely worth more," said Mr Piacentini "The market move was due to one-time events rather than the company losing value." The stock sell-off was triggered by the September 25 announcement that IMX, a partnership between Mr Batista's EBX Group and IMG Worldwide, will promote Cirque du Soleil events in South America.

The deal was a blow to Time 4 Fun, the previous promoter of the Canadian acrobatic show, which was its biggest draw among regularly scheduled offerings.

The company's troubles were compounded by the back-to-back disappointing sales for Lady Gaga's show last month and Madonna this month, each of which were expected to lure as many as 90,000 concertgoers.

"Weaker demand from the public caused ticket sales to miss expectations and that, combined with rising costs due to inflation and mostly the weaker real, led to financial losses for recent concerts," Joao Costa Marques, a partner at the investment fund PrismaInvest in Rio de Janeiro said.

The announcement prompted analysts to cut the average 12-month price target to 10.48 Brazilian reals a share, down from 17.67 reais a few days earlier, data compiled by Bloomberg shows.

Time 4 Fun's press office declined to comment for this story. An email sent to a Lady Gaga representative was not immediately returned.

Madonna's MDNA tour was "one of the top 10 hours in history", said Arthur Fogel, the chairman of Live Nation Entertainment's global music division, the tour's international promoter.

* Bloomberg News

COMPANY%20PROFILE%20
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Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
F1 2020 calendar

March 15 - Australia, Melbourne; March 22 - Bahrain, Sakhir; April 5 - Vietnam, Hanoi; April 19 - China, Shanghai; May 3 - Netherlands, Zandvoort; May 20 - Spain, Barcelona; May 24 - Monaco, Monaco; June 7 - Azerbaijan, Baku; June 14 - Canada, Montreal; June 28 - France, Le Castellet; July 5 - Austria, Spielberg; July 19 - Great Britain, Silverstone; August 2 - Hungary, Budapest; August 30 - Belgium, Spa; September 6 - Italy, Monza; September 20 - Singapore, Singapore; September 27 - Russia, Sochi; October 11 - Japan, Suzuka; October 25 - United States, Austin; November 1 - Mexico City, Mexico City; November 15 - Brazil, Sao Paulo; November 29 - Abu Dhabi, Abu Dhabi.

How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
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COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
The%20specs
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Frankenstein in Baghdad
Ahmed Saadawi
​​​​​​​Penguin Press

If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
The Details

Kabir Singh

Produced by: Cinestaan Studios, T-Series

Directed by: Sandeep Reddy Vanga

Starring: Shahid Kapoor, Kiara Advani, Suresh Oberoi, Soham Majumdar, Arjun Pahwa

Rating: 2.5/5 

COMPANY%20PROFILE
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The biog

Name: Shamsa Hassan Safar

Nationality: Emirati

Education: Degree in emergency medical services at Higher Colleges of Technology

Favourite book: Between two hearts- Arabic novels

Favourite music: Mohammed Abdu and modern Arabic songs

Favourite way to spend time off: Family visits and spending time with friends