
How an indie music promoter makes $200M - Mike Christidis, Untitled Group
Mike Christidis lost $1 million on his first festival at 20. A decade later, Untitled Group is on track for more than $200 million in revenue. Mike co-founded Untitled Group, the Melbourne independent behind Beyond The Valley and the largest electronic headline tour in Australian history. He sat down with Luke Girgis to explain how an independent promoter keeps growing while festivals around the world shut down. We get into: - Why bar spend at Untitled events has dropped 80% in a decade - How audience surveys led to 330,000 Calvin Harris tickets - Why Splendour in the Grass disappeared, and Mike's biggest fear - Why your festival's real competitor is a holiday in Bali - How you book a surprise set from Dom Dolla - Why Untitled tells artists "don't come, just wait" Read the full breakdown on The Black Hoody: https://www.theblackhoody.com/p/how-untitled-do-200m-in-annual-revenue CHAPTERS 00:00 Cold open 01:27 What Untitled actually owns and runs 02:56 Beyond The Valley: 40,000 people over four days 03:50 Breaking Dom Dolla and Rüfüs Du Sol 07:09 How Untitled got its name 08:12 From a team of 8 to a $200M revenue target 12:14 Why dance music belonged on the main stage 14:09 Losing $1 million at 20 16:54 How do you go again after that? 18:48 A database of 2 million young Australians 24:19 Why festivals are closing 27:15 How audience data built the Calvin Harris tour 29:46 Why bar spend is down 80% 32:09 Life after the bar: run clubs and supplements 35:18 Engineering the New Year's moment 38:59 What happened to Splendour in the Grass 44:15 Who are Untitled's competitors? 48:02 Grapevine Gathering and cutting your own events 50:55 Bali vs your festival 51:36 How you book a surprise set 53:48 Why Untitled tells artists to wait 57:30 Gudinski and the club scene that breaks global stars LINKS The Black Hoody newsletter: https://www.theblackhoody.com Untitled Group: https://untitledgroup.com.au The Black Hoody is a podcast and newsletter on the business behind music and comedy, for the people who run it.
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