x

The latest industry news to your inbox.

    

I'd like to hear about marketing opportunities

    

I accept IQ Magazine's Terms and Conditions and Privacy Policy

news

MyTicket: DEAG buys out Starwatch

Deutsche Entertainment says it will continue to eliminate its minority shareholdings, as it acquires Starwatch Entertainment's 24.9% stake in ticketing platform MyTicket

By IQ on 02 Jul 2018

Peter Schwenkow, DEAG

image © DEAG

Deutsche Entertainment AG (DEAG) is to reacquire 24.9% of the shares in mytic myticket AG, the company behind its MyTicket.de and MyTicket.at ticketing platforms, bringing its total holding up to 75.1%.

The transaction, says the company, is part of its strategy of “successively reducing minority interests to increase the earnings per share for DEAG shareholders. DEAG’s ticket business is to be further expanded.”

The shares were formerly owned by German record label Starwatch Entertainment. Axel Springer SE, the publisher of Bild, Die Welt and Fakt, and the largest publishing house in Europe, continues to hold the remaining 24.9% of mytic myticket AG.

“The acquisition of MyTicket will increase our earnings per share within the next few years”

MyTicket, DEAG’s in-house ticket agency, expanded into Austria (with MyTicket.at) in September 2016, joining original German site MyTicket.de and British spin-off MyTicket.co.uk, which launched in the UK via Kilimanjaro in 2015. Ticket sales via MyTicket were a major contributor to the German promoter’s positive financial results in 2017.

“We’d like to thank our partners [Starwatch owner] ProSiebenSat1 and Starwatch for the joint establishment of MyTicket AG in its start-up phase, and I look forward to continuing our close cooperation in the other areas, as before,” says DEAG CEO Peter Schwenkow (pictured). “MyTicket AG’s market shares are growing strongly, and with MyTicket.de and MyTicket.at it has developed into one of the leading electronic ticket platforms. The acquisition enables us to continue pursuing our strategic goals; the acquisition of MyTicket will increase our earnings per share within the next few years.

“We will also continue to expand DEAG’s ticketing business. This share increase is in line with our goal of successively reducing our minority shareholdings to return to an attractive dividend policy.”

 


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.

More news

CTS Eventim acquires Venuepoint CTS, formerly a partner alongside Danish film studio Nordisk Film, has acquired growing Scandinavian ticketing platform Venuepoint in its entirety
DEAG agrees Sony deal for Classics and Raymond Gub... DEAG has agreed a deal with Sony Music Entertainment Germany to acquire 49% of DEAG Classics AG, to take full control of the company.
DEAG back in black in Q1 but growth slows 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
Eventbrite acquires Canadian ticketer Picatic The Vancouver-based ticketing platform made a name for itself through its "empowering" and "elegantly simple" events technology
Tinkoff Bank acquires stake in ticketer Kassir Evgeny Finkelstein's Kassir.ru, one of Russia's main primary ticket agencies, has joined forces with the world's most popular digital bank