DEAG acquires majority stake in Airbeat One festival
DEAG has acquired a majority stake in Airbeat One, an electronic music festival which takes place annually in northern Germany.
Founded in 2002 by Music Eggert, the festival typically attracts around 60,000 visitors to Neustadt-Glewe in Mecklenburg-Vorpommern each year.
According to DEAG, Airbeat One is now the largest electronic music festival in northern Germany and one of the largest in Germany.
Following the acquisition, Sebastian Eggert from Music Eggert becomes managing director of Airbeat One GmbH, the new organiser of Airbeat One.
With his team, which will remain entirely with the festival, he will continue to run the event in the long term.
DEAG says it expects the takeover to create “synergy effects in the live entertainment business as well as positive impulses for the ticketing business, especially for DEAG Group company I-Motion”– organiser of electronic music festivals Nature One, Mayday, Syndicate, Toxicator and Ruhr-in-Love.
DEAG says it expects the takeover to create “synergy effects in the live entertainment business”
In addition, the company hopes the acquisition will result in “significant cost synergies as well as added values in purchasing and artist acquisition, among other areas”.
Oliver Vordemvenne, MD of I-Motion, says: “We are all delighted about the partnership and the co-operation with Sebastian and the whole team, who have built up one of the biggest electro music festivals in Germany and inspire thousands of fans from all over the world every year.
“Airbeat One is an excellent addition to DEAG’s portfolio. With Airbeat One, we unite two of the most successful electro music festivals in Germany under one roof and are excellently positioned in this field with now a total of six electro music festivals with over 200,000 visitors annually. With the acquisition of Airbeat One, we have also created very good conditions for the further expansion of our business activities.”
Sebastian Eggert, MD of Airbeat One, adds: “We are all very pleased to have DEAG as a strong partner for the further development of Airbeat One. We share the same vision for the festival with a clear focus on the visitors and want to continue to offer them an exceptional customer experience in the future. We are strongly rooted in the region of northern Germany and will stay here for the long term and drive our growth together with DEAG.”
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