At 11 am on September 27, the organizers of the “Brother Overcoming Thousands of Obstacles 2024” concert officially started ticket sales. The lower and medium-priced tickets, ranging from VND 800,000 to VND 2.5 million, were quickly snapped up shortly after the sale began. By 12:30 pm, just 90 minutes into the sale, all 20,000 tickets were announced as sold out.
This is the first concert of the “Brother Overcoming Thousands of Obstacles” program, which is a Vietnamese adaptation of Mango TV’s original show, “Call Me By Fire.” This music reality show began airing on VTV3 and YouTube in June 2024 and quickly gained a large following.
The concert, taking place on October 19, 2024, at Ravopark in Thu Duc City, is expected to accommodate 20,000 attendees with 12 different ticket categories. The standing area includes four ticket categories: Fire Power 1, 2, 3, and 4 (priced at VND 1.8 million); Baby Thorn 1 and 2 (VND 1.8 million); Wealth and Star (VND 1.2 million); and Dragon and Turtle (VND 800,000).
Several ticket categories for the “Brother Overcoming Thousands of Obstacles” concert were sold out within 30 minutes. Photo: Organizers
The seating area offers eight ticket categories: X-VIP 1, 2, and 3 (priced at VND 8 million); Roof Top and Ceiling (VND 3.5 million); Boiling and Lava (VND 2.5 million). Meanwhile, the Legendary, Blazing, Youth, and Mystery tickets are equally priced at VND 2 million each. Other ticket categories include Multi-color and Multi-love (VND 1.5 million); Shield 1 and 2, and Reliance 1 and 2 (VND 800,000).
Apart from Tang Phuc’s absence, the concert will feature the participation of 32 “Brothers.”
The popularity of “Brother Overcoming Thousands of Obstacles” and the upcoming October concert have raised questions about whether Yeah1 (YEG), the producer of the show, will achieve the breakthrough business results as planned.
The “Brother Overcoming Thousands of Obstacles 2024” concert will feature performances by 32 “Brothers.” The event will take place on October 19. Photo: Organizers
How is the Company Behind “Brother Overcoming Thousands of Obstacles” Performing?
Joint Stock Company Yeah1 Group has impressive business results for the first six months of the year. According to the semi-annual financial report, Yeah1’s revenue reached approximately VND 280.6 billion, doubling that of the same period in 2023. The company’s profit for the first six months of 2024 exceeded VND 20.5 billion, which is also double that of the first half of 2023.
According to Yeah1’s management, the company’s revenue and profit are expected to increase in the last six months of the year due to the entertainment industry’s peak season and the simultaneous airing of two programs: “Brother Overcoming Thousands of Obstacles” and the second season of “Chị Đẹp Đạp Gió.”
A performance from the “Brother Overcoming Thousands of Obstacles 2024” program.
At the 2024 Annual General Meeting of Shareholders on May 6, Joint Stock Company Yeah1 Group presented two business scenarios. Specifically, in the optimistic scenario, the company’s revenue was expected to reach VND 1,100 billion, with after-tax profit reaching VND 105 billion. In the cautious scenario, Yeah1’s revenue was projected to be VND 800 billion, with an after-tax profit of VND 65 billion.
Thus, with the business results in the first six months, Yeah1 has achieved nearly and more than one-third of the profit target compared to the plan in both scenarios. This is considered a relatively positive outcome, as according to Yeah1’s leadership, the first two quarters were the slowest in terms of revenue for the entertainment industry, and the economy was still in recovery.
Recently, on September 9, the company’s Board of Directors approved a plan to offer more than 54.8 million shares to existing shareholders, expecting to raise VND 548 billion. This amount will be used to repay debts and invest in content production to promote growth in the last quarter of 2024 and the first quarter of 2025.
Joint Stock Company Yeah1 Group is one of the few media companies currently listed on HoSE. Yeah1 went through a challenging period, incurring losses of billions of VND due to the incident with YouTube discontinuing its partnership and the impact of the Covid-19 pandemic. Subsequently, Yeah1 continuously restructured and divested its subsidiaries to turn losses around and prevent its shares from being delisted.
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