Deutsche Entertainment says it will continue to eliminate its minority shareholdings, as it acquires Starwatch Entertainment's 24.9% stake in ticketing platform MyTicket
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Newly 100% DEAG-owned MyTicket AG is betting big on blockchain and dynamic pricing by allying with Switzerland's SecuTix
By Jon Chapple on 23 Jan 2019
In line with its recent strategy of eliminating all minority shareholdings, Deutsche Entertainment AG (DEAG) has acquired the remaining 24.9% of shares in MyTicket from publishing company Axel Springer SE.
DEAG increased its shareholding in mytic myticket AG, the company behind its MyTicket.de and MyTicket.at ticketing platforms, last July, bringing its total holding up to 75.1%. The buy-out of Alex Springer, the publisher of Bild, Die Welt and Fakt, and the largest digital publishing house in Europe, means MyTicket is now 100% owned by DEAG.
“Many thanks to our partners from Axel Springer SE for working together to establish MyTicket AG in the start-up phase, and I look forward to continuing our close cooperation in the other areas as before,” comments DEAG CEO Peter Schwenkow. “The market shares of MyTicket AG are growing strongly, and with MyTicket.de and MyTicket.at it has developed into one of the leading electronic ticket platforms.
“The transaction will enable us to further implement our strategic goals; the acquisition of the shares in MyTicket will enable us to increase earnings per share over the next few years. In addition, we will continue to expand DEAG’s ticketing business and intend to expand further internationally. After the introduction phase, with millions of tickets sold and hundreds of thousands of satisfied customers, the team can now implement the next phase of the growth course.”
“Both the repurchase of all shares and the upcoming ticketing software exchange are decisive steps for MyTicket in 2019”
DEAG has also announced a new partnership with Swiss white-label ticketing platform SecuTix, beginning this summer. SecuTix, which offers software as a service (SaaS) solutions for concerts, festivals, sporting events and more, will enable MyTicket to implement “the latest technologies, such as blockchain and dynamic pricing” in order to “be able to act in a customer-oriented manner and prevent a secondary market from forming”.
“Both the repurchase of all shares and the upcoming ticketing software exchange are decisive steps for MyTicket in 2019, in strengthening the company for future tasks and challenges,” says MyTicket CEO Moritz Schwenkow. “Furthermore, this will enable us to market the events of the DEAG family and new, innovative formats in direct communication with our customers in an even more targeted manner.”
Frédéric Longatte, CEO of SecuTix, adds: “We are very proud to be able to contribute to the continued success of MyTicket with [ticketing solution] SecuTix 360°. SecuTix has extensive experience in all genres that MyTicket offers on its portal. With our ticketing engagement platform, we are the ideal partner for MyTicket to offer promoters and events, be it sports, festivals or culture, a powerful solution for marketing and distribution.”
According to the International Ticketing Yearbook 2018, CTS Eventim – Europe’s largest ticket seller – is by far the market leader in Germany, with Ticketmaster Germany and MyTicket among its competitors.
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