It’s been a busy week for European live music promoter DEAG.
Earlier this week the company announced that it had acquired a 51% majority interest in Germany-based promoter C2 Concerts.
Today the company has announced the acquisition of 50.1% in I-Motion, the German arm of US-based electronic music giant LiveStyle.
I-Motion has been organizing electronic music events for over 25 years, including Mayday (since 1991), Nature One (since 1995) and Ruhr in Love (since 2003).
I-Motion sells more than 200,000 tickets a year and DEAG expects further growth for the ticketing business via MyTicket, of which it acquired the remaining 24.9% of shares from publishing house Axel Springer SE in January.
The Executive Board estimates that the additional sales potential for DEAG will total €15m annually.
LiveStyle, Inc. is the US parent company of I-Motion, is headquartered in Los Angeles, with offices in New York, Chicago, Denver, Australia, The Netherlands, Germany and Brazil. It is one of the world’s largest music event producers and produces numerous events in North America, Europe, South America, Australia and Asia.
Its key North American business units include AMFAMFAMF, Made Event, React Presents, Disco Donnie Presents and Life In Color as well as the brands Electric Zoo, Spring Awakening, the FriendShip, LIC Miami, BLNK CNVS, All My Friends Music Festival and more.
In Europe, LiveStyle operates through companies such as Monumental, B2S, ID&T, I-Motion and Q-Dance.
Together with the Belgian Tomorrowland promoter, LiveStyle launched the first international version of Tomorrowland.
“The key execs at I-Motion feel that DEAG is a great fit for them and I know it will be a great partner for LiveStyle in Germany.”
Randy Phillips, LiveStyle
Randy Phillips, President & CEO of LiveStyle, said: “Many years ago I had the pleasure of negotiating the purchase of MAMA Concerts & Rau by DEAG.
“In the course of closing that transaction, I got to know Peter Schwenkow, the CEO and Founder of DEAG, quite well and was very impressed by his love of music, business acumen and vision for DEAG. It seems I was right then and am right now.
“In addition, Detlef Kornett, of DEAG, and I were colleagues for many years at AEG and I am thrilled to be re-united with my friend.
“The key execs at I-Motion feel that DEAG is a great fit for them and I know it will be a great partner for LiveStyle in Germany.”
“The partnership with I-Motion and LiveStyle offers us further potential for our ticketing business.”
Prof. Peter Schwenkow, DEAG
Prof. Peter Schwenkow, CEO of DEAG, added: “The partnership with I-Motion and LiveStyle offers us further potential for our ticketing business.
“Through the targeted introduction of individual events abroad, we will also have the opportunity to grow internationally.
“For example, by offering the established and very successful electronic event ‘Mayday’ again in Poland, the UK and Switzerland in the future.”
“We are convinced that both sides will benefit from our new relationship and are looking forward to a long-term partnership.”
Chuck Ciongoli, LiveStyle
Chuck Ciongoli, Executive Vice President and CFO of LiveStyle, said: “In recent years, I-Motion has shown, above all by planning, organising and carrying out its own projects, that our German subsidiary always knows how to set new accents in the field of events and entertainment and profits from our international network.
“With DEAG, we now have a strong partner at our side who can look back on a wealth of experience in this market.
“We are convinced that both sides will benefit from our new relationship and are looking forward to a long-term partnership.”Music Business Worldwide
