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DEAG invests again, taking a majority stake in Livestyle’s German subsidiary I-Motion
By Anna Grace on 07 Jun 2019
Deutsche Entertainment AG (DEAG) is acquiring a majority 50.1% interest in I-Motion GmbH, the German division of electronic music behemoth LiveStyle.
The joint venture is the second DEAG announcement this month, following the company’s takeover of Stuttgart-based promoter C2 Concerts on 3 June.
DEAG alluded to in-the-works investments in its recent Q1 financial report. The executive board estimates that the additional sales potential from the LiveStyle deal will total €15 million annually.
I-Motion has organised electronic music events for over 25 years and sells 200,000 tickets annually. The promoter’s festivals include Mayday, Nature One and Ruhr in Love. Nature One took the best festival gong at the 2018 German Live Entertainment Awards (LEAs).
“Our German subsidiary always knows how to set new accents in the field of events and entertainment, and profits from our international network,” comments LiveStyle executive vice president and chief financial officer, Chuck Ciongoli.
“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.”
“With DEAG, we now have a strong partner at our side who can look back on a wealth of experience in this market”
DEAG chief executive Peter Schwenkow expects that the partnership with I-Motion will stimulate growth for DEAG’s ticketing business via MyTicket, with growth opportunities including expanding Mayday in the UK and Switzerland.
“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,” says LiveStyle president and chief executive Randy Phillips.
LiveStyle, the US-based parent company of I-Motion, claims to be the world’s largest promoter of electronic music. The company formed following the collapse of Robert Sillerman’s SFX Entertainment in 2016.
The company promotes events across the Americas, Europe, Australia and Asia. Its 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, and All My Friends Music festival.
In Europe, LiveStyle operates through Monumental and Q-Dance in the Netherlands and ID&T in Belgium.
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