NightCulture started trading on the OTCBB in the beginning of 2012 and although the stock has done little in recent months the Company has had some important developments and impressive revenue growth this year over last.
NightCulture, Inc (OTC: NGHT) is the first ever Electronic Dance Music (EDM) oriented company to trade on the public markets. Their "Concerts that Change Your Life" is a premier producer of live concerts and events that produces, markets, and executes all aspects of its concerts from the selling of tickets to merchandise.
To date the company has primarily operated in the markets of Houston, TX, Austin, TX, San Antonio, TX, & Oklahoma City, OK and has produced hundreds of concerts featuring world class artists such as: Tiesto, David Guetta, Armin van Buuren, Paul van Dyk, Rusko, Ferry Corsten, Calvin Harris, Flux Pavilion, Gareth Emery, Markus Schulz, ATB, Sasha, John Digweed, Cosmic Gate, Paul Oakenfold, Carl Cox, Pete Tong plus many more!
Earlier this year NGHT made an important step when they purchased their own venue in Houston, Texas; Stereo Live is a 25,000 square foot venue located on 2 ½ acres of land at 6400 Richmond Avenue in Houston, Texas. Stereo Live hosts music and cultural events in three distinct rental spaces with event capacities ranging from 100 to 3,000 and featuring state-of-the-art sound and lighting and 7 bar areas strategically located throughout the venue.
Stereo Live opens up a whole new range of opportunities for NightCulture which is already making plans to capitalize on the success of festivals like Ultra and the Electric Daisy Carnival, by putting together a festival of its own, which should be announced sometime this year.
Several weeks ago NGHT announced operating results for its recently acquired Stereo Live, LLC subsidiary and pro forma results reflecting the acquisition of Stereo Live, LLC: Revenues of Stereo Live, LLC increased by 36.2% to $866,572 for 2011 from $636,250 in 2010 and increased by 138.9% to $386,757 for the quarter ended March 31, 2012 from $161,916 in the quarter ended March 31, 2011. Pro forma to give effect to the acquisition of Stereo Live, LLC, the consolidated revenues of NightCulture, Inc. increased 66.2% to $1,308,339 for 2011 from $787,080 in 2010 and increased 60% to $553,052 for the quarter ended March 31, 2012 from $345,573 in the quarter ended March 31, 2011.
Conclusion: NGHT has seen some important developments over the past several months as well as rapid growth in revenues especially for Stereo Live which saw a 139% increase in 1st Quarter revenues this year over last. While the stock continues to trade at a fairly low $10M market valuation, NGHT is on track to do around $3 to $4M in revenues for 2012. The Company has begun to develop the type of loyal following that can catapult a penny stock to explosive gains. All these factors make NGHT a stock to watch in the weeks and months ahead.
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.