Press release: C² CONCERTS GmbH concludes strategic partnership with DEAG
The Stuttgart tour and concert promoter C² CONCERTS GmbH today enters into a strategic partnership with Deutsche Entertainment Aktiengesellschaft (DEAG).
You can read the official DEAG press release here:
Deutsche Entertainment Aktiengesellschaft (DEAG) has announced the acquisition of a 51% majority interest in German promoter C² Concerts.
C² Concerts, based in the state of Baden-Württemberg, Germany, has been operating as a local promoter, musical producer and tour operator for more than 20 years.
The company portfolio of events include Rock/Pop, family entertainment, Arts+Exhibitions, as well as Classics and Jazz. C² Concerts holds some of the rights to its content.
With around 200 events and around 400,000 tickets sold in 2018, the profitable company achieved a turnover of €7 million.
DEAG expects the additional annual tickets to stimulate growth in the ticketing business of its in-house ticket agency Myticket.
DEAG has been working successfully with C² Concerts for many years. "The Christmas Garden in Stuttgart, which was held for the first time in 2018 and attracted over 125,000 visitors, was a complete success of this cooperation," the announcement states.
DEAG revealed that the Christmas Garden would take place at two further locations in southwest Germany going forward, without naming the exakt locations.
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."
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 €10 million is realistic.