Despite the German promoter's return to profit, income is 85% less than this time last year, although there are positive signs for ticketing business myticket.de
Sign up for IQ Index
The latest industry news to your inbox.
Deutsche Entertainment AG also increased revenue 14.4% in the first half of 2017, boosted by several major shows and family events and strong MyTicket sales
By Jon Chapple on 31 Aug 2017
Deutsche Entertainment AG (DEAG) today posted encouraging financial results for the first half (H1) of 2017, recording a return to profit following six months of “strong organic growth”.
Turnover rose 14.4%, to €90.2 million, while earnings before interest and taxes (EBIT) were €300,000, as compared to a €3.6m loss in H1 2016.
Successful H1 2017 on-sales included “spectator magnets” Ed Sheeran, Iron Maiden, Kiss, Aerosmith, Craig David and the Matapaloz metal festival (Böhse Onkelz, Slayer, Five Finger Death Punch, Papa Roach, Anthrax) at the Hockheimring, with family favourites Disney on Ice and Tini, starring Violetta, and UK concert series Kew the Music and Live at Chelsea also proving popular.
“We’re already looking forward optimistically to 2018”
Ticket sales through DEAG’s local MyTicket portals (in Germany, Austria and the UK) also “contributed significantly”, according to the half-year report.
“We’re already looking forward optimistically to 2018,” writes DEAG founder and CEO Peter Schwenkow, anticipating a strong fourth quarter. “Event pre-sales are quite promising.
“We also reached another important milestone with our recent acquisition of the British event promoter Flying Music Group. That will help us make better use of the growth opportunities in our second home market in the UK. We’re expecting significant growth impulses from our UK business for the upcoming year.”
Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.