DEAG Acquires MyTicket Shares From Starwatch Entertainment In Germany

– Myticket.de
DEAG now owns 75.1 percent of the online-only ticketing system

Starwatch and ProSiebenSat.1 had helped DEAG establish the MyTicket AG in its start-up phase, for which company CEO and founder Prof. Peter L.H. Schwenkow said he was grateful. “I look forward to continuing our close cooperation in the other areas as before,” he said.

DEAG now holds 75.1 percent of MyTicket, with another German media giant, Axel Springer SE, holding the rest. The transaction comprises myticket.de in Germany myticket.at in Austria, not the UK operation.

DEAG already announced when buying back shares in DEAG Classics last month that it intends to successively reduce minority interests to increase the earnings per share for DEAG shareholders.

The company stated that it intends to expand its ticket business without going in to details. Pollstar reached out to DEAG for clarification, and was told that MyTicket is profiting from the positive development of DEAG’s events and getting more in-house content across all genres: rock, pop, metal, classical and family entertainment.

“At the same time, MyTicket is becoming more interesting for third-party content,” a company rep said, who added that further ticketing growth was expected from the acquisition of Flying Music Group in 2017, which added some 500,000 ticket sales per year to DEAG’s UK business.

Said Schwenkow: “MyTicket AG’s market shares are growing strongly and with myticket.de and myticket.at it has developed into one of the leading electronic ticket platforms. The acquisition enables us to continue pursuing our strategic goals: the acquisition of MyTicket will increase our earnings per share within the next few years.

“We will also continue to expand DEAG’s ticketing business. This share increase is in line with our goal of successively reducing our minority shareholdings to return to an attractive dividend policy.”