European live music promoter DEAG has acquired a 51% majority interest in promoter C2 Concerts.
Baden-Württemberg, Germany-based C2 Concerts achieved a turnover of €7 million in 2018 with around 200 events and around 400,000 tickets sold.
C2 Concerts’ portfolio covers Rock/Pop, Family Entertainment, Arts & Exhibitions and Classics & Jazz and holds some of the rights to its content.
By acquiring a stake in C2 Concerts, DEAG also expects the additional annual tickets to stimulate growth in the ticketing business via ticketing firm MyTicket.
DEAG acquired the remaining 24.9% of shares in MyTicket from publishing house Axel Springer SE in January and now owns 100% of the company.
DEAG has been working successfully with C2 CONCERTS on a basis of trust for many years.
“The even closer cooperation with C2 Concerts in the future will give us the opportunity to continue growing profitably with an extended value-added chain.”
Prof. Peter Schwenkow, DEAG
Prof. Peter Schwenkow, CEO of DEAG said: “The even closer cooperation with C2 Concerts in the future will give us the opportunity to continue growing profitably with an extended value-added chain.
“This step completes our regional coverage in our core market of Germany and, in addition to Berlin, Hamburg, Munich, North Rhine-Westphalia and Frankfurt/Main, we are now also represented in Southwest Germany.
“In addition, we see significant synergy potential in the live entertainment and ticketing business.”
“With DEAG, we are looking forward to intensifying our cooperation with a first-class partner in the live entertainment business.”
Christian Doll, C2 Concerts
Christian Doll, Managing Director of C2 Concerts, added: “With DEAG, we are looking forward to intensifying our cooperation with a first-class partner in the live entertainment business.
“Both sides will benefit from this.” With a view to the future, the Executive Board of DEAG believes that medium-term sales growth of C2 Concerts as part of the DEAG Group to over €10m is realistic.Music Business Worldwide