T4F is the leading live entertainment company in South America and the 16th largest in the world in number of tickets-sold in 2019, according to Pollstar. We believe we are the only company in the South American market that operates in the live entertainment segment in a diversified and verticalized platform. We were elected as Top International Independent Promoter by the Billboard Touring Awards in 2014, 2013, 2012, 2010 and 2009. We sold over 1.2 and 1.8 million tickets at events promoted in 2019 and 2018, respectively, excluding tickets for sporting events.
T4F offers a wide range of artistic and cultural content, on behalf of our relationship with agents and content providers in Brazil and abroad. Nowadays, the company operates Teatro Opera Orbis Seguros, in Buenos Aires, and Teatro Renault, in São Paulo. The second one was ranked among the top 40 venues worldwide in terms of number of tickets sold in 2019, according to Pollstar. Unimed Hall, in São Paulo, which activities were ceased in March 2021 was also present in the same list.
Through a vertically-integrated business model, in addition to event promotion, T4F operates at all levels of live entertainment value chain, including: venue operation; ticketing; food, beverage and merchandise sales; and corporate sponsorships. This way, T4F generates income from a variety of activities related to the operations.
T4F has accumulated significant experience in the live entertainment industry since 1983, promoting over 2,000 events in Brazilian, Argentine, Chilean and Peruvian major cities in the years 2017 through 2019. In terms of net revenue, Brazil, our main market, represented 85,0%, 72,0% and 55.5% in 2019, 2020 and 2021, respectively.
The leading position in the Brazilian and South American live entertainment industry has earned T4F the trust of the largest international providers of high-quality content. This has afforded T4F privileged access to the world’s best content for artistic and cultural events, which enhances the relationship with corporate sponsors and generates public interest. As a result, T4F is able to secure long-term corporate sponsorship agreements and obtain more favourable conditions for spectacles and national and international artists.
Our content attracts sponsors and viewers, provides us with the hiring of long-term sponsorships, including sponsorship of our venues in the naming rights model, with percentage of advance receipts, as well as ticket sales in advance. Thus, since we do not have high investments in fixed assets and have low need for working capital, our activities are strong generators of cash flow, which provides us with significant return on invested capital and high financial soundness.
In addition, music festivals are gradually increasing their representation over our portfolio, which provides stable margins and more recurring revenues, as festivals have greater sponsorship capture potential than single-artist shows, as well as scale gains. We have been producing and promoting Lollapalooza Brasil since 2014, which positions us in a privileged way to explore the opportunities for growth in this market, in addition to other renowned festivals such as Popload Festival, Solid Rock, Festival Grls! and Turá. By exposure to the public, opinion makers and media, these contents attract strong interest from sponsors.
Our main lines of business include the activities of (i) event promotion; (ii) ticketing operation, marketing of food, beverages and promotional products (merchandising) and operation of venues; and (iii) marketing of sponsorships.