DIGITAL ALLY ANNOUNCED SPIN-OFF CREATES KUSTOM ENTERTAINMENT TO JOIN TOGETHER ITS NEW ENTERTAINMENT AND TICKETING BUSINESSES

Rhea-AI Summary

Kustom Entertainment, Inc., a new subsidiary of Digital Ally (NASDAQ: DGLY), will oversee TicketSmarter and Kustom 440. A corporate spin-off is planned for H1 2023 to launch a separate publicly traded entity centered on live events and ticketing. The merger aims to enhance entertainment partnerships and event production. Digital Ally and TicketSmarter plan to announce their first concert festival on December 16. TicketSmarter has sold over 48 million tickets in the last decade, focusing on secure and trustworthy ticket transactions.

Positive

• Corporate spin-off expected to unlock shareholder value.
• Combined management of TicketSmarter and Kustom 440 enhances event production capabilities.
• TicketSmarter's established track record with over 48 million tickets sold bolsters confidence.

Negative

• None.

KANSAS CITY, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Kustom Entertainment, Inc., a newly formed subsidiary of Digital Ally Inc. (NASDAQ: DGLY), will provide oversight to current wholly owned subsidiaries TicketSmarter and Kustom 440. Digital Ally, Inc. plans to complete a corporate spin-off of this newly formed division in the first half of 2023 to create a separate publicly traded entity, focused on live event and concert production to accompany TicketSmarter’s ability to offer primary and secondary ticketing options.

Both TicketSmarter and Kustom 440 will combine their management and focus on concerts, entertainment and garnering additional ticketing partnerships in 2023. Their mission will be to create and own events and festivals, and acquire other properties with positive financial results. Digital Ally and TicketSmarter will use their existing sponsorships and sports property partnerships to develop alternative entertainment options for consumers.

“We couldn’t be more excited to integrate Kustom Entertainment and Kustom 440 with a proven company like TicketSmarter to develop, create and execute events,” Digital Ally Inc. CEO Stanton E. Ross said. “We look forward to delivering one-of-a-kind experiences for fans and will be announcing our first major concert festival on December 16.”

TicketSmarter is a primary ticket provider for events and organizations, and can provide resale ticketing to the marketplace, giving fans a safe, trusted platform where they can buy and sell tickets. By combining its management team with Kustom 440 Inc., the new entity will be able to produce and ticket its own events for clients, sponsors and venues that want an alternative partnership in the U.S. and abroad.

“From the moment a fan purchases their tickets to the moment they attend an event, we want TicketSmarter customers to experience the best entertainment has to offer ,” said Jeff Goodman, TicketSmarter CEO. “Our partnership with Kustom 440 will make sure that our produced events are comfortable, safe and seamless.” TicketSmarter has provided over 48 million tickets for purchase to customers over the past 10 years and will soon be announcing other new strategies for customers and its clients.

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About TicketSmarter

TicketSmarter is a proud member of the Digital Ally Companies (NASDAQ: DGLY). With more than 48 million tickets for sale, TicketSmarter enables customers to experience the power and excitement of live events. TicketSmarter is the official ticket resale partner of over 35 collegiate conferences, 300+ universities, and hundreds of events and venues nationally. TicketSmarter is the official ticket resale partner of Rose Bowl Stadium and the title sponsor of the TicketSmarter Birmingham Bowl with ESPN Events - for more information, follow @Birmingham_Bowl on Twitter.

TicketSmarter also works alongside numerous charitable partners, including St. Jude Children’s Research Hospital, the V Foundation and the Quarterbacking Children’s Health Foundation.

To learn more about TicketSmarter, visit TicketSmarter.com, and follow @TicketSmarter on Facebook, Twitter, and Instagram.

About Kustom 440

Established in 2022, Kustom 440 is an entertainment division of Digital Ally Inc. (NASDAQ: DGLY) whose mission it is to attract, manage and promote concerts, sports and private events. Kustom 440 is unique in that it brings a primary and secondary ticketing platform, in addition to its video solutions, all natural hand sanitizers and cleansers to each of its partnerships. Kustom 440 supports national and local charities focusing on at-risk youth and women.

For more information on Kustom 440, visit www.Kustom440.com and follow @Kustom440 on Facebook, Twitter, Instagram, YouTube, TikTok and LinkedIn.

Media Contacts:
Gypsie Hutchinson
859-619-4528
Media@Kustom440.com

FAQ

What is the purpose of Digital Ally's Kustom Entertainment spin-off?

Kustom Entertainment's spin-off aims to create a separate publicly traded entity focused on live events and ticketing.

When will the spin-off of Kustom Entertainment occur?

The spin-off is planned to be completed in the first half of 2023.

How many tickets has TicketSmarter sold over the past decade?

TicketSmarter has provided over 48 million tickets for purchase in the last ten years.

What is the significance of the merger between TicketSmarter and Kustom 440?

The merger aims to enhance their ability to produce and ticket events while leveraging existing partnerships.