The German promoter's new chief financial officer is tasked with continuing the good work of his predecessor, Ralph Quellmalz, who leaves on 1 April
Sign up for IQ Index
The latest industry news to your inbox.
As CTO, MyTicket CEO Moritz Schwenkow will oversee DEAG's entire ticketing business, including MyTicket Germany, Austria and UK and the UK's Gigantic Tickets
By IQ on 27 Mar 2020
Moritz Schwenkow, CEO of MyTicket, has been appointed chief ticketing officer (CTO) of Deutsche Entertainment AG (DEAG).
As CTO, Schwenkow, 38, will be responsible for DEAG’s entire ticketing business, including MyTicket in Germany, Austria and the UK, and the UK’s Gigantic, acquired in December 2019. He is tasked with “develop[ing] synergies” between the four, as well as spearheading further expansion into other European countries.
Schwenkow (pictured), son of DEAG CEO Peter, moves into his new role on 1 April 2020, following more than 15 years working in live entertainment. He is also appointed a member of DEAG’s executive board.
DEAG currently sells more than five millions tickets annually, and aims to at least double that figure in the years to come, according to the Berlin-based company.
“With Moritz’s expertise and market knowledge, he will continue to drive the successful expansion of our ticketing business”
“I am very much looking forward to working together with my colleagues on the board,” comments Moritz Schwenkow. “The DEAG group is already excellently positioned internationally in the area of ticketing through MyTicket and Gigantic.
“On this strong basis and as a result of increasing digitalisation, we want to continue to grow, provide impulses for other business areas and further expand our earnings power in the years to come.”
Wolf-Dieter Gramatke, chairman of DEAG’s board, adds: “Moritz Schwenkow has extensive knowhow in the live entertainment industry. With his expertise and market knowledge, he will continue to drive our successful expansion of the ticketing business and further strengthen our position in the market.”
DEAG reported its 2019 financial results earlier this week.
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.