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News May 19, 2020

123 Agency Group appoints liquidator amid live music lockdown

Senior Journalist, B2B
123 Agency Group appoints liquidator amid live music lockdown

The 123 Agency Group has gone into liquidation amid the ongoing coronavirus lockdown, TIO can reveal.

Damian Costin’s independent music company held a general meeting earlier this month, during which members were notified that the business would be wound up.

According to a statement to ASIC, Timothy James Brace and Michael Carrafa have been appointed liquidator.

It’s a sad decline for a company which, less than two years ago, proudly claimed to be one of the country’s “fastest growing and innovative booking agents” and struck a joint venture with Sony Music on a new label, 123 Music.

The agency would appear to be another victim of the COVID-19-induced shutdown, which has crushed the live music sector.

Though states have begun to lift some restrictions, venues remain shuttered across the country and flights are grounded. On several occasions, the music industry has presented Paul Fletcher MP, Minister for Communications, Cyber Safety and the Arts Fletcher, and others with a proposed emergency package worth $650 million.

The federal government hasn’t spread any cheer. 

Live Performance Australia, which has negotiated for a bailout, said the nation’s leaders were “missing in action” when Carriageworks entered administration earlier in the month.

123 Agency was behind some of Australia’s most successful tours, and its roster has included Tash Sultana, Kingswood, Killing Heidi, Trophy Eyes and Pierce Brothers.

Established in 2013 by Costin, the former Motor Ace drummer and company director, 123 Agency added the likes of The Vanns, Pinkish Blu and Hollow Coves in recent years, and boasted about 15 staff across offices and Sydney and Melbourne.

Costin, who now holds the role of General Manager at Live Nation Australasia, declined to comment for this story.

This article originally appeared on The Industry Observer, which is now part of The Music Network.


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