Joe GallopDEAG Deutsche Entertainment Aktiengesellschaft (DEAG) has acquired a majority stake in German electronic music festival Airbeat One (cap. 65,000).
The festival, previously organised by Music Eggert, takes place at Neustadt-Glewe in Mecklenburg-Vorpommern. It was held for the first time in 2002 and is now the largest electronic music festival in northern Germany.
DEAG, which owns Kilimanjaro Live and Gigantic Tickets, said its latest acquisition will have a positive impact on DEAG-owned company I-Motion – the organiser of electronic music festivals Nature One, Mayday, Syndicate, Toxicator and Ruhr-in-Love.
Sebastian Eggert from Music Eggert has become managing director of Airbeat One GmbH, the new operating company for Airbeat One.
He said, “We are all very pleased to have DEAG as a strong partner for the further development of Airbeat One. We share the same vision for the festival with a clear focus on the visitors and want to continue to offer them an exceptional customer experience in the future. We are strongly rooted in the region of Northern Germany and will stay here for the long term and drive our growth together with DEAG.”
I-Motion managing director Oliver Vordemvenne said, “Airbeat One is an excellent addition to DEAG’s portfolio. With Airbeat One, we unite two of the most successful electro music festivals in Germany under one roof and are excellently positioned in this field with now a total of six electro music festivals with over 200,000 visitors annually. With the acquisition of Airbeat One, we have also created very good conditions for the further expansion of our business activities.”