DEAG Acquires Remaining MyTicket Shares In Germany

– Myticket.de
DEAG’s in-house online-only ticketing system

Deutsche Entertainment AG (DEAG) announced it will be acquiring the 24.9 percent of MyTicket shares held by Axel Springer SE, in order to fully own the online ticketing system.

The transaction is a further step towards further international expansion and the gradual reduction of minority interests with the aim of increasing the earnings per share attributable to DEAG shareholders.

Till Brönner – Prof. Peter Schwenkow
Founder and CEO of DEAG

DEAG CEO Prof. Peter Schwenkow said: “Many thanks to our partners from Axel Springer SE for working together to establish MyTicket AG in the start-up phase, and I look forward to continuing our close cooperation in the other areas as before.”

He added that “the market shares of MyTicket AG are growing strongly and with myticket.de and myticket.at it has developed into one of the leading electronic ticket platforms. The transaction will enable us to further implement our strategic goals.”

The main goal for DEAG currently is to successively reduce minority interests and thereby increase the earnings per share for DEAG shareholders.

Aside from Axel Springer SE, German media and entertainment company Starwatch had invested in MyTicket during the start-up phase. The shares held by Starwatch were bought back by DEAG in summer 2018.

Another step in taking full ownership of assets was made during that same summer, when DEAG reacquired 49 percent of DEAG Classics AG from Sony Music Germany (including the shareholding in The Classical Company AG, Switzerland).

Schwenkow added that plan was to expand DEAG’s ticketing internationally. “After the introduction phase with millions of tickets sold and hundreds of thousands of satisfied customers, the team can now implement the next phase of the growth course,” he said.

MyTicket will cooperate with the Swiss ticket software vendor SecuTix starting in summer 2019. SecuTix offers software solutions for international ticket sales of concerts and show events as well as innovative solutions for culture, festivals, sports, tournaments, exhibitions and fairs.

For instance, for last year’s Super Cup final between Real Madrid and Atlético Madrid in Tallin, Estonia, Aug. 15, 2018, Europe’s soccer association UEFA distributed 100 percent of mobile tickets using blockchain technology and SecuTix as a ticketing partner. 

DEAG intends to use SecuTix latest technologies, such as blockchain and dynamic pricing, in order to be able to act in a customer-oriented manner and prevent a secondary market from forming.

 

DEAG announced that “in the areas of service and product quality as well as customer orientation and user friendliness, major improvements are expected for MyTicket. This will benefit both end customers and organisers who rely on MyTicket as an efficient sales partner.

“In addition to improvements at the product and service level, this adjustment will also lead to optimised cost structures and should contribute to increasing profitability in the future.”

Moritz Schwenkow, CEO of the MyTicket AG, said: “Both the repurchase of all shares and the upcoming ticketing software exchange are decisive steps for MyTicket in 2019 in strengthening the company for future tasks and challenges. Furthermore, this will enable us to market the events of the DEAG family and new, innovative formats in direct communication with our customers in an even more targeted manner.”

Frédéric Longatte, CEO of SecuTix SA, commented: “We are very proud to be able to contribute to the continued success of MyTicket with SecuTix 360°. SecuTix has extensive experience in all genres that MyTicket offers on its portal. With our ticketing engagement platform, we are the ideal partner for MyTicket to offer promoters and events, be it sports, festivals or culture, a powerful solution for marketing and distribution.”