Australia: TEG, Viagogo, VenuesLive & More

U.S. private equity firm Silver Lake signed a definitive agreement to acquire Sydney-based TEG. 

With an estimated value of A$1.3 billion (US$874.8 million), TEG’s assets include Ticketek Australia and New Zealand, promoters TEG Live, TEG Dainty, ticketing software Softix, ticketing service Eventopi and Sydney’s 21,000-capacity Qudos Bank Arena.

TEG handles ticketing for 135 venues and promoters in the Asia-Pacific and delivers 30 million tickets annually for 30,000 events spanning live sports, concerts, theatre, festivals and exhibitions in 13 countries. 

In August TEG acquired UK promoter MJR Group. 

The TEG transaction, subject to approval by the Australian Foreign Investment Review Board, is expected to go through end of 2019. TEG’s senior leadership team, led by CEO Geoff Jones, will stay in place.

Silver Lake managing director Stephen Evans said, “High quality live sports and entertainment content is more sought after now than ever and represents a massive global addressable market for the company. We believe TEG’s innovative and integrated ticketing, content, digital marketing and analytics platform is well positioned to continue to benefit from increasing consumer demand worldwide.”

TEG’s previous owner, pan Asian private equity firm Affinity Equity Partners bought it in 2015 for $640 million ($433.3 million). Jones said, “Silver Lake brings us deep technology expertise as well as important global entertainment content and live events expertise and relationships which will help us to accelerate the growth of our platform globally.”

New Zealand’s Commerce Commission is able to serve an injunction on secondary ticketing platform Viagogo in New Zealand after all. An appeals court overturned a February High Court ruling it could only be served in the site’s Switzerland HQ. 

The Commission wanted Viagogo to stop using “false and misleading” language which implied it was a primary site. It will now determine if the site made those changes in the interim. 

Viagogo said it has done so, adding, “We have worked hard to address the New Zealand Commerce Commission’s concerns and remain committed to ensuring that Viagogo’s platform is compliant with the law.”

ASM Global has taken a 25% stake in Sydney-based stadium operator VenuesLive, which operates Sydney’s 83,500-seat ANZ Stadium; the 30,000-seat Bankwest Stadium in Parramatta; and Perth’s 60,000-seat Optus Stadium. 

Harvey Lister, chairman and CEO of ASM Global Asia Pacific, joins the VenuesLive board. Day-to-day company operations remain under the supervision of current directors and joint majority shareholders Daryl Kerry and Steve Heytman.

ASM Global was recently formed through the merger of AEG Facilities and SMG. 

Bob Newman, its president and CEO said VenuesLive would benefit from ASM Global’s worldwide network of partnerships with entertainment and sports providers. “The real winners from these developments are the fans who will be able to access a greater range of world-class content, services, amenities and technologies in more venues than ever before, across Australia,” he noted.  

The 21st installment of regional New South Wales country music festival Deni Ute Muster was a sell-out. 

20,000 came Oct. 5 and 6 for a bill topped by Tim McGraw with Aussie live drawcards Lee Kernaghan, John Williamson, Beccy Cole and Ross Wilson. 

Organisers said a new world record was set for the blue singlet count of 3,972. 

The Muster holds a world record for most number of utility vehicles in the one place; this year’s count was 8,591 on site.

The debate on pill-testing at music festivals raged in New Zealand again, with the Greens Party launching a petition. 

But the Liberals and NZ First parties will block the move as it sends the “wrong message”. Promoters of the Bay Dreams and Rhythm & Vines festivals told 1 NEWS they agree with it in principle but will wait until the legalities of the tests are worked out. 

Bay Dreams’ Toby Burrows said, “We want to have the full backing of the police, and local government and national government before we go down that track.”  

The Oct. 4 EDM festival Listen In, attended by 20,000 at Mount Smart Stadium in Auckland, saw four patrons hospitalized for suspected drug overdoses, two climbing a 25-metre high marquee, and fights breaking out. 

RFA Auckland Stadiums director James Parkinson said Listen In would be welcomed back in 2020.

This year’s Ausmusic T-Shirt Day is on Nov. 15, as a fund-raiser for Support Act Ltd’s work with musicians, industry workers and road crews who’ve fallen on financial and medical hard times.  

An initiative of the Australian Recording Industry Association and the taste-making triple j youth radio network, music fans are asked to wear their favorite Australian band T-shirt on the day and at work, school or play, and get their networks to donate. 

Last year 60 music companies including Live Nation, Chugg Entertainment and Melbourne’s Corner Hotel made pledges.