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DEAG’s H1 revenue soars past pre-pandemic levels

The Berlin-based live entertainment group saw its revenue increase by 109% compared to the first half of 2019

By IQ on 30 Aug 2022

DEAG CEO Peter Schwenkow

DEAG CEO Peter Schwenkow


image © Inferno Events GmbH & Co KG

Deutsche Entertainment’s (DEAG) revenue has soared past pre-pandemic levels, according to the company’s financial results for the first half of 2022.

The Berlin-based live entertainment group saw its revenue increase by a whopping 109% from €63.9 million to €133.4m compared to the first half of 2019.

EBITDA (earnings before interest, taxes, depreciation and amortisation) also increased from €3.1m to €10.1m (+226%), exceeding projections.

The news comes after DEAG reported the most successful summer in its 44-year history, with more than three million tickets sold in the company’s national markets – Germany, UK, Ireland, Switzerland and Denmark.

Highlights of 2022 so far have included concerts by Ed Sheeran in the UK and performances by Kiss and Zucchero in Germany. In Switzerland, concerts were held with Die Ärzte, Die Toten Hosen and Iron Maiden, among others.

Sold-out open-air events such as Nature One, Belladrum and Sion sous les étoiles were also deemed successful.

DEAG says its recent run of acquisitions, which includes Fane Productions, Gigantic.com, C² Concerts and Airbeat One,  has also contributed to the increase in key financial figures.

“We sold over three million tickets between June and August 2022 alone”

The company plans to continue playing an active role in the consolidation of the live entertainment industry in the future and to drive its growth through M&A, with a particular focus on complementary ticketing acquisitions.

With a financial base of over €100m and a strong first half of the year, DEAG expects its revenue to increase to over €300m for the full year 2022, with a further improvement in EBITDA.

“Live is back! We are very pleased with our operational development in the first half of the year,” says Prof. Peter L.H. Schwenkow, CEO of DEAG.

“Our teams have done a great job and held all of the events planned, despite material shortages and a lack of skilled workers in all markets. Our thanks also go to the many fans and guests at our events. After more than two years of the corona pandemic, people are eager to attend concerts and enjoy good entertainment.

“In some cases, visitors have kept tickets for up to three years in order to be able to be part of the restart of the event industry. With great joy and enthusiasm, we have set off the event fireworks we announced and will continue to delight visitors with top-class events in the coming months.

“We sold over three million tickets between June and August 2022 alone and expect one of the strongest third quarters in the company’s history. Especially in the current environment, we want more than ever to bring “a little happiness” to people. And we will do so many thousands of times in the months ahead.”

 


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