DEAG Deutsche Entertainment Aktiengesellschaft: DEAG acquires a stake in virtual reality entertainment company TimeRide
DGAP-News: DEAG Deutsche Entertainment Aktiengesellschaft: DEAG acquires a stake in virtual reality entertainment company TimeRide
DGAP-News: DEAG Deutsche Entertainment Aktiengesellschaft / Key word(s): Investment
04.09.2017 / 12:45
The issuer is solely responsible for the content of this announcement.
DEAG acquires a stake in virtual reality entertainment company TimeRide
– Joint stake in TimeRide GmbH for DEAG and its subsidiary handwerker promotion e. gmbh
– Conclusion of contract with TimeRide secures exclusive ticket sales via the company’s own sales platform MyTicket
– Attractive growth potential forecasted with the possible roll out of the virtual reality format
Berlin, 4 September 2017 – DEAG Deutsche Entertainment Aktiengesellschaft (DEAG), Berlin, (ISIN: DE000A0Z23G6, WKN: A0Z23G), listed on the Prime Standard, has jointly taken a stake with its subsidiary handwerker promotion e. gmbh in TimeRide GmbH, a virtual reality (VR) entertainment company. DEAG acquired an 8% stake while handwerker promotion secured itself a 4% stake. This expands DEAG’s high-class entertainment program in its Family Entertainment division, positioning the company early in the live entertainment market for virtual reality.
Founded in 2016, TimeRide GmbH, headquartered in Munich, develops, organizes and markets entertainment and educational services in the field of virtual reality. Currently, the technology company creates time travels to the former worlds of European cities. By wearing VR glasses and using haptic feedback systems, the visitors immerse themselves in the life and activities of the times. The highlight: For the virtual city tour, the audience takes a seat in a real replica of a historical transport medium.
Jonas Rothe, founder and Managing Director of TimeRide GmbH, explains: “With TimeRide, we will open up the possibilities of the new virtual reality technology for the entertainment and education sector. We offer a broad audience, beyond the VR-affine gaming industry, easy access to this still young technology. Traveling in the past with the feeling of being in the middle of the story – a childhood dream becomes true.”
On 29 September 2017, time travel by tram through Cologne over 100 years ago will be launched at the pilot site in Cologne. Up to 20 such time journeys are to be offered in major European cities in the future. Among other things, VR shows are planned in Berlin, Munich, London, Paris, Rome and Prague. In the next three years, more than one million visitors are to embark on trips through time.
Prof. Peter Schwenkow, CEO of DEAG, explains: “TimeRide is a pioneer in VR entertainment in Germany with its innovative entertainment concept. We want to benefit from the growth opportunities of virtual entertainment offers in the coming years with our acquired stake and exclusive distribution partnership on MyTicket. At the same time, we’re further expanding our activities in the Family Entertainment and Arts + Exhibitions divisions with this future-oriented field. We’re confident that VR entertainment offers will be increasingly popular with visitors. We see future sales potential from a possible roll-out in Germany and Europe coming from this finalized sales partnership involving MyTicket and TimeRide.”
Prof. Maurice Lausberg, Managing Director of TimeRide’s founding partner actori GmbH, comments: “We are delighted that by working with DEAG AG and handwerker promotion e. gmbH, we’re able to get two experienced partners from the entertainment industry on board to promote innovative virtual reality formats in live entertainment together. DEAG and handwerker promotion will help us expand the TimeRide concept with their comprehensive expertise in producing and marketing entertainment events.”
Besides virtual time travel, TimeRide plans to extend its offer to other areas of live entertainment via virtual and mixed reality. The founders of TimeRide GmbH are actori GmbH from Munich and Time-Ride’s Managing Director Jonas Rothe.
DEAG Deutsche Entertainment AG (DEAG) is an integrated entertainment company and a leading provider of live entertainment in Europe with subsidiaries in its core markets. DEAG produces and profitably organizes a broad range of events and concerts. Its own distribution business, mytic myticket AG, which is also share-held by two large print and TV media companies, increases the company’s profitability and scales its business model. DEAG organizes about 2,500 concerts and events a year, selling more than 5 million tickets at present, a steadily increasing part of which is sold via its high-turnover online distribution channel MyTicket.
Live events range from rock/pop, classics & jazz, the strongly growing Family Entertainment division as well as Arts + Exhibitions. The festivals and family entertainment divisions are particularly fundamental for the further development of DEAG’s own content. Its network of strong partners allows DEAG to put itself in an excellent market position as an internationally active live entertainment group. DEAG shares (ISIN: DE000A0Z23G6 | WKN: A0Z23G | ERMK) are quoted in the Prime Standard segment of the Frankfurt Stock Exchange, which is the quality segment of the Deutsche Börse, the German stock exchange.