Deutsche Entertainment AG has revised several claims made in previous financial reports after an investigation by the Financial Reporting Enforcement Panel (FREP)
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DEAG’s “buy-and-build” strategy kicks Q3 off to a good start, as I-Motion and LMP-promoted events sell out
By Anna Grace on 05 Aug 2019
German live entertainment giant DEAG has had a successful summer season so far, profiting from recent European investments.
DEAG sold 110,000 tickets for open-air events Sion Sous Les Étoiles in Switzerland, Scotland’s Belladrum Tartan Heart Festival and Germany’s Nature One in Germany. All events were sold out.
DEAG made three promoter acquisitions last month, most recently taking a majority stake in Sion Sous Les Étoiles (Sion under the stars) promoter Live Music Production, along with sister company Live Music Entertainment.
A few weeks before, the powerhouse bought into Livestyle’s German subsidiary I-Motion, the promoter of rave event Nature One.
“We are not only contributing to strengthening our profitability, but also providing growth impetus in our ticketing business”
DEAG increased its shareholding in German ticketer MyTicket, which provided the ticketing for Kilimanjaro-promoted Belladrum, in January.
“We are supplementing our organic growth by expanding our own successful entertainment formats with very selective M&A activities,” comments DEAG chief executive Peter Schwenkow.
“All three open-air events are great proof of how successful we are. We are not only contributing to strengthening our profitability, but also providing growth impetus in our ticketing business. Via MyTicket we sell tickets for all our events, as well as third-party content.”
DEAG has also recently taken a majority stake in Stuttgart-based promoter C2 Concerts.
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