Effective immediately, MyTicket a 100% subsidiary of DEAG
- DEAG acquires 24.9% of Axel Springer shares
- From summer 2019 on cooperation with the ticketing software vendor SecuTix
Berlin, 22 January 2019 – DEAG Deutsche Entertainment Aktiengesellschaft (DEAG), Berlin, ISIN: DE000A0Z23G6, Ticker: ERMK, which is listed in the Prime Standard of the Frankfurt Stock Exchange, is acquiring 24.9% of the shares in mytic myticket AG (“MyTicket AG”) from Axel Springer SE and will thus hold 100% of the company in the future. 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.
“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. 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 acquisition of the shares in MyTicket will enable us to increase earnings per share over the next few years. In addition, we will continue to expand DEAG’s ticketing business and intend to expand further 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,” said Prof. Peter Schwenkow, CEO of DEAG Deutsche Entertainment AG.
In addition, MyTicket will cooperate with the Swiss ticket software vendor “SecuTix” starting in summer 2019. SecuTix as SaaS provider and a partner of many prominent organizers and venues 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. Furthermore, the latest technologies, such as Blockchain and “Dynamic Pricing”, are used in order to be able to act in a customer-oriented manner and prevent a secondary market from forming.
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.
“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,” commented Moritz Schwenkow, CEO of mytic MyTicket AG.
Frédéric Longatte, CEO of SecuTix SA, explains: “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.”
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Über die DEAG
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.