DGAP-News: DEAG Deutsche Entertainment Aktiengesellschaft: DEAG TO ACQUIRE MAJORITY STAKE IN ONE OF GERMANY'S LARGEST ELECTRONIC MUSIC PROMOTERS I-MOTION GMBH
DGAP-News: DEAG Deutsche Entertainment Aktiengesellschaft / Key word(s): Investment
DEAG Deutsche Entertainment Aktiengesellschaft: DEAG TO ACQUIRE MAJORITY STAKE IN ONE OF GERMANY'S LARGEST ELECTRONIC MUSIC PROMOTERS I-MOTION GMBH
07.06.2019 / 09:16
The issuer is solely responsible for the content of this announcement.
DEAG TO ACQUIRE MAJORITY STAKE IN ONE OF GERMANY'S LARGEST ELECTRONIC MUSIC PROMOTERS I-MOTION GMBH
- Joint venture with the global market leader for electronic music, LiveStyle, Inc. in Los Angeles, will open up growth opportunities throughout Europe
- International expansion for the acquired brands including Nature One, Mayday and many others
- Additional potential for the ticketing business
Berlin, 7 June 2019 - DEAG Deutsche Entertainment Aktiengesellschaft (DEAG), Berlin, ISIN: DE000A0Z23G6, Ticker: ERMK, listed in the Prime Standard, today announced that the company is acquiring a majority interest of 50.1% in I-Motion GmbH, the German operating unit of LiveStyle, Inc., USA.
I-Motion has been a successful organiser of electronic music events for over 25 years. With long-established and profitable formats such as "Mayday" (since 1991), "Nature One" (since 1995), "Ruhr in Love" (since 2003), I-Motion has been successful in the market with these events alone attracting more than 2.5 million visitors. With "Nature One," I-Motion promoted one of the largest rave events in Germany and one of the largest European events of the electro music scene in 2018. In April, at the German Live Entertainment Awards (LEA) NATURE ONE was voted "Best Festival in 2018". Additionally, the company regularly implements new event concepts such as "Toxicator", "Syndicate" or "Revolt". With its consistently profitable formats, as well as new events, I-Motion sells more than 200,000 tickets a year. Accordingly, DEAG expects further growth for the ticketing business via myticket.de in the course of the partnership. The Executive Board estimates that the additional sales potential for DEAG will total EUR 15 million annually.
LiveStyle, Inc., the US parent company of I-Motion, headquartered in Los Angeles, with offices in New York, Chicago, Denver, Australia, The Netherlands, Germany and Brazil, is one of the world's largest music event producers and produces numerous events in North America, Europe, South America, Australia and Asia. Its most important North American business units include AMFAMFAMF, Made Event, React Presents, Disco Donnie Presents and Life In Color as well as the brands Electric Zoo, Spring Awakening, the FriendShip, LIC Miami, BLNK CNVS, All My Friends Music Festival and more. In Europe, LiveStyle operates through locally established companies such as Monumental, B2S, ID&T, I-Motion and Q-Dance. Together with the Belgian Tomorrowland promoter, LiveStyle launched the first international version of the Tomorrowland.
Randy Phillips, President & CEO of LiveStyle remarked: "Many years ago I had the pleasure of negotiating the purchase of MAMA Concerts & Rau by DEAG. In the course of closing that transaction, I got to know Peter Schwenkow, the CEO and Founder of DEAG, quite well and was very impressed by his love of music, business acumen and vision for DEAG. It seems I was right then and am right now. In addition, Detlef Kornett, of DEAG, and I were colleagues for many years at AEG and I am thrilled to be re-united with my friend. The key execs at I-Motion feel that DEAG is a great fit for them and I know it will be a great partner for LiveStyle in Germany."
Prof. Peter Schwenkow, CEO of DEAG, is convinced: "The partnership with I-Motion and LiveStyle offers us further potential for our ticketing business. Through the targeted introduction of individual events abroad, we will also have the opportunity to grow internationally. For example, by offering the established and very successful electronic event 'Mayday' again in Poland, the UK and Switzerland in the future."
Chuck Ciongoli, Executive Vice President and CFO of LiveStyle, adds: "In recent years, I-Motion has shown, above all by planning, organising and carrying out its own projects, that our German subsidiary always knows how to set new accents in the field of events and entertainment and profits from our international network. With DEAG, we now have a strong partner at our side who can look back on a wealth of experience in this market. We are convinced that both sides will benefit from our new relationship and are looking forward to a long-term partnership."
I-Motion was established in 1994. In 2013, I-Motion was acquired by SFX Entertainment, Inc. which subsequently became LiveStyle, Inc. With more than 35 employers, I-Motion promotes between six and eight electronic music events a year. The flagship event "NATURE ONE" will celebrate its 25th edition this year with more than 60,000 attendees celebrating four days and three nights with more than 350 acts on 22 stages. In addition to the conception, planning and execution of these events, I-Motion also operates beverage concessions, event staff and management, marketing, sponsorship, merchandise, talent booking and ticketing services.
One of the world's largest music event producers, LiveStyle boasts a wide variety of leading live music properties. LiveStyle produces and promotes single and multiday music festivals across North America, Europe, South America, Australia and Asia. North American key operating entities include Made Event, React Presents, Disco Donnie Presents, and Life In Color, along with festivals and brands such as Electric Zoo, Spring Awakening, Mamby On The Beach, FriendShip, LIC Miami, BLNK CNVS, and AMFAMFAMF. In Europe, the company boasts key operating entities such as Monumental, B2S, ID&T, I-Motion, and Q-Dance, and festivals and brands including Defqon, Decibel, Mysteryland, Awakenings, back2school, Air, Qlimax and Sensation. Together with the Belgian Tomorrowland organization, LiveStyle launched TomorrowWorld, the first international version of the Tomorrowland festival, and promoted the first South American Tomorrowland festival in Brasil. LiveStyle also owns Beatport, the preeminent ecommerce platform for DJs, producers and dance music fans that helps launch the careers of the best underground artists and define global music culture.
DEAG Deutsche Entertainment Aktiengesellschaft (DEAG) is a leading entertainment service company and a provider of Live Entertainment in Europe with subsidiaries in its core markets. DEAG produces and profitably organises a broad range of live entertainment events and concerts. As a Live Entertainment service company with an integrated business model DEAG has extensive expertise in the organisation, marketing and holding of events, as well as in ticket sales via its own ticketing platform 'MyTicket' for its own and third-party content. The highly scalable business model of MyTicket strengthens DEAG on its way to increasing profitability. DEAG promotes around 4,000 concerts and events a year and currently sells more than 5 million tickets, of which a steadily increasing share is sold via its high-turnover ticketing platform MyTicket.
Founded in Berlin in 1978 and listed since 1998, DEAG's core businesses include Rock/Pop, Classics & Jazz, Family Entertainment and Arts+Exhibitions. The Family Entertainment and Arts+Exhibitions divisions in particular are of great importance to the further development of DEAG's own content. With its strong partner network, DEAG is excellently positioned in the market as an internationally active Live Entertainment service company.
DEAG shares (ISIN: DE000A0Z23G6 | WKN: A0Z23G | ERMK) are listed in the Prime Standard of the Frankfurt Stock Exchange, the quality segment of Deutsche Börse.
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||Regulated Market in Berlin, Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange; London
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