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C2 Concerts is the first of DEAG’s new European investments, as the German promoter looks to use the acquisition to fuel ticketing growth and boost regional presence
By IQ on 03 Jun 2019
Deutsche Entertainment AG (DEAG) has revealed the first of its in-the-works European investments, today (3 June) announcing the acquisition of a majority stake in Stuttgart-based C2 Concerts.
The stake in C2 Concerts, a musical producer, tour operator and local promoter in southwest Germany, rounds off DEAG’s regional coverage in the country. The live entertainment company also has representation in Berlin, Hamburg, Munich, North Rhine-Westphalia and Frankfurt/Main.
The move marks the continuation of DEAG’s “buy-and-build” strategy. In its recent Q1 financial report, the German promoter alluded to the C2 acquisition as one of a number of ongoing investments expected to generate sales growth in its core markets of Germany, England and Switzerland.
Founded by Christian Doll and Christian Ludewig in 2010, C2 Concerts has expanded from its origins as a mainly local outfit to become a national tour operator. The company achieved turnover of €7 million in 2018, selling around 400,000 tickets for 200 events. By acquiring a stake in the concert promoter, DEAG aims to boost the ticketing side of its business via MyTicket, which the live entertainment company fully acquired in January.
DEAG has worked with C2 Concerts for a number of years. In 2018, the promoters launched the Christmas Garden in Stuttgart, attracting over 125,000 visitors. The format will be rolled out at two further locations in southwest Germany over the coming years.
“With DEAG, we are looking forward to intensifying our cooperation with a first-class partner in the live entertainment business. Both sides will benefit from this”
Due to past collaboration, the DEAG management board expects rapid integration of C2 Concerts into its group.
“The even closer cooperation with C2 Concerts in the future will give us the opportunity to continue growing profitably with an extended value-added chain,” says DEAG chief executive Peter Schwenkow.
As well as securing the company’s regional presence, Schwenkow also notes that the C2 Concerts investment offers “significant synergy potential in the live entertainment and ticketing business.”
“With DEAG, we are looking forward to intensifying our cooperation with a first-class partner in the live entertainment business,” comments C2 Concerts managing director and co-founder Doll. “Both sides will benefit from this.”
The DEAG executive board believes that, as part of the DEAG Group, C2 Concerts can realistically expect medium-term sales growth to over €10m.
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