DEAG Acquires Majority Stakes in C2 Concerts and LiveStyle’s I-Motion

DEAG has been rather busy this week.

First, the European live concert promoter revealed it had acquired a 51% majority stake in C2 Concerts, effectively taking control of the company on Monday.

C2 operates as a musical producer, tour operator, and local promoter in Germany.  With the acquisition, DEAG now has sizeable control of the German live market, with representation in Berlin, Hamburg, Munich, North Rhine-Westphalia, and Frankfurt/Main.

Alluding to the acquisition in its Q1 financials, DEAG unveiled its “buy-and-build” strategy.  The C2 Concerts investment will reportedly generate strong sales growth in the country.  Last year, the German promoter had a turnover of €7 million ($8 million at the historic exchange rate), selling around 400,000 tickets for 200 events.

The move also follows the complete acquisition earlier this year of the live concert promoter’s remaining 24.9% shares of its ticketing business, MyTicket.

Speaking about the acquisition, Peter Schwenkow, DEAG’s founder and CEO, 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.

Earlier today, DEAG has confirmed another significant majority stake.

The European live concert promoter has acquired a 50.1% majority stake in LiveStyle’s German EDM division, I-Motion GmbH.

According to the company’s executive board, the majority stake has an additional sales potential each year of €15 million ($17 million).  Operating for more than 25 years, I-Motion has sold around 200,000 tickets annually.  The company founded music festivals Mayday in 1991, Nature One in 1995, and Ruhr In Love in 2003.

LiveStyle, headquartered in Los Angeles, also has offices in Brazil, New York, Chicago, Denver, Australia, The Netherlands, and Germany.  In Europe, the company operates through other businesses, including I-Motion, Q-Dance, Monumental, and B2S.

Speaking about DEAG’s majority share acquisition, Chuck Ciongoli, LiveStyle’s Vice President and Chief Financial Officer, said,

With DEAG, we now have a strong partner at our side who can look back on a wealth of experience in this market.  We’re convinced that both sides will benefit from our new relationship and are looking forward to a long-term partnership.

Schwenkow 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.