A series of Castley selections contributed to Just for Laughs' credit

The underperforming comedy festival in the UK and efforts by Facebook and YouTube to compete with TikTok were among the factors that saw the Just For Laughs festival's parent company's revenue decline last year, according to a report filed in the High Court.

A Thursday report by bankruptcy trustee PwC, formerly known as PricewaterhouseCoopers, lists the circumstances under which Just For Laughs Group is unable to pay its debts.

The company announced earlier this month that it was canceling its festival planned for this summer in Montreal and received a settlement from its creditors. She also canceled the ceremony Just for laughs in Toronto.

Court filings show the Just For Laughs Group posted a net loss of more than $7.9 million in the first ten months of 2023. A series of expensive initiatives contributed to this situation.

A comedy festival in London in March 2023 lost about $800,000 after ticket sales fell short of expectations.

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