DEAG Pulls Out Of Austria’s Local Market
Germany’s Deutsche Entertainment AG (DEAG) wants to focus on its growth markets in Germany, the United Kingdom and Switzerland.
DEAG has pulled the plug on its Austrian subsidiary, Vienna-based Blue Moon Entertainment, through which it used to operate as local promoter. The company intends to bring live entertainment events to Austria from Germany, in cooperation with independent and well-established Austrian promoters going forward.
“The clear premise of our expansion plans is always sustainable profitability. Discontinuing our direct business activities in Austria, we will improve lastingly our Group earnings in the future,” said CFO Ralph Quellmalz.
DEAG’s online ticketing system, Myticket, isn’t affected by the move, and will continue to sell events in Austria.
DEAG is much more interested in the UK, which it describes as its “second home market” besides Germany. DEAG owns Kilimanjaro Holdings Ltd., Raymond Gubbay Ltd. as well as Flying Music Group Holding Ltd., which it bought in August.
DEAG claims to now be “one of the leading promoters and theatre producers in the UK.” In anticipation of its year-end figures, it also claims that the UK business will make up 40 percent of the group’s total turnover.
Besides expanding established events, such as DEAG’s Christmas Garden brand, which will take place in Edinburgh, Scotland, for the first time in 2017, the company intends to find additional M&A opportunities in the UK.
In Germany, DEAG just announced the revival of Rockavaria, which will take place in Munich, June 9-10, 2018.
After taking a break in 2017 due to the unavailability of suitable acts, the festival returns to the Bavarian capital, moving from the Olympiapark to Königsplatz in the city center.
Iron Maiden and German rock icons Die Toten Hosen have been announced as headliners. Also in Germany, Myticket entered into a cooperation with Amazon Pay, enabling customers to use their Amazon payment details when purchasing tickets.
Besides DEAG, German media giants Axel Springer and ProSiebenSat.1 Group with its live entertainment arm Starwatch Entertainment use Myticket as their official platform for selling tickets.