DEAG Appoints Moritz Schwenkow As Executive Board Member & Chief Ticketing Officer

Moritz Schwenkow
– Moritz Schwenkow
Chief Ticketing Officer and memeber of the executive board of DEAG

Moritz Schwenkow, son of Deutsche Entertainment AG founder Peter Schwenkow, joins DEAG’s executive board with effect from April 1.

As Chief Ticketing Officer (CTO), he will also be responsible for DEAG’s entire ticketing business going forward.
Moritz Schwenkow has been instrumental in the development of DEAG’s in-house ticketing platforms, and will now be driving synergies between,, and the recently acquired UK ticketing platform 
The 38-year old is also responsible for the expansion into further European countries and the long-term consolidation of all ticketing activities.
Moritz Schwenkow has 15 years of experience in the live entertainment industry and has held many management positions at DEAG and various Group companies in recent years. Among his other positions, he has been CEO of mytic myticket AG since 2015.
DEAG’s executive board previously consisted of Prof. Peter Schwenkow (CEO), Christian Diekmann (COO & CDO), Detlef Kornett (CMO & International Business Affairs) and Roman Velke (CFO). 
They believe Moritz Schwenkow’s appointment to CTO “underscores the great and constantly growing importance of ticketing” for the company’s integrated business model. 
DEAG, by its own admission, currently sells more than 5 million tickets internationally every year. A “significant” share of sales is handled via DEAG’s own ticketing platforms. 
With the acquisition of the UK ticketing platform in December 2019 in particular, DEAG has expanded the share of third-party content for non-Group events. 
The plan is “to at least double the number of tickets sold via its own platforms in the medium term. This will make ticketing DEAG’s fastest-growing business area in the years to come and an important driver of earnings.”
Moritz Schwenkow commented: “I am very much looking forward to working together with my colleagues on the board. The DEAG Group is already excellently positioned internationally in the area of ticketing through MyTicket and Gigantic. On this strong basis and as a result of increasing digitalization, we want to continue to grow, provide impulses for other business areas and further expand our earnings power in the years to come.”
Wolf-Dieter Gramatke, Chairman of the supervisory board, added: ‘Moritz Schwenkow has extensive know-how in the live entertainment industry. With his expertise and market knowledge, he will continue to drive our successful expansion of the ticketing business and further strengthen our position in the market.’
DEAG just published its 2019 earnings, and gave a positive outlook for 2020. As the company stated in its earnings report: “Any cancellations of current events and those in advance sales due to force majeure are fully covered by insurance (including Covid-19) with one of the largest insurance groups worldwide. 
“The first events that have incurred losses have already been assessed and paid for. For reasons of damage minimisation and in order to take fan interest into account, DEAG is in intensive contact with the artists and partners regarding postponement of the events. 
“Currently, more than 600 events have already been almost completely rescheduled to the coming quarters. Accordingly, a change in the timing of sales and results is possible in the current financial year.”