Christopher BarrettKilimanjaro Live and Gigantic tickets owner Deutsche Entertainment AG (DEAG) has reported a 109% rise in revenue to €133.4m during the first half of this year compared to the equivalent period in 2019.
The company said its staging shows by acts including Ed Sheeran and KISS had helped boost its results, as had acquisitions in recent years including Gigantic and literary events production company Fane Productions. In June last year it acquired a 90% stake in UK Live, owner of 1980s festival brand Let’s Rock and other events including the Penn Festival.
DEAG said it was focused on driving further growth through mergers and acquisitions, and is engaged in “concrete” talks with ticketing acquisition targets.
The Berlin headquartered operation expects to see an increase in revenue to more than €300 million for the full year, and said a strong start to 2023 is foreseeable.
DEAG CEO Prof. Peter L.H. Schwenkow (pictured) said he was pleased with DEAG’s operational development in the first half of the year: “We sold over 3 million tickets between June and August 2022 alone and expect one of the strongest third quarters in the company’s history. Especially in the current environment, we want more than ever to bring a little happiness to people.”