German promoter DEAG said it is expecting a record final quarter of 2016 from MyTicket, despite its online ticketing business registering a considerable loss during the first nine months of the year.
MyTicket posted a loss before interest and tax (EBIT) of €6.8m (£5.7m/$7.2m) in the year to September 30, with sales down year-on-year by 32 per cent to €98m. The company’s EBIT was greater, at €11.6m, during the same period during 2015.
However, DEAG said sales over the summer were impacted by the broadcast of major sporting events, such as the Olympic Games and Euro 2016.
The company, which operates MyTicket in Germany, the UK – where it also trades as Kilimanjaro Live – and Austria, also said it would have posted a profit but for the cost of setting up in the latter.
“The expected decline in sales resulted partly from an industry-wide shift in business in the current fourth quarter in connection with the major events of the European Soccer Championship in France and the Olympic Games in Brazil,” the company said in a statement.
“Additionally, in the prior-year period, there was a series of particularly high-volume concerts such as Ed Sheeran’s three sold out performances at Wembley Stadium in London.”
DEAG projects the fourth quarter to be its “strongest quarter in five years in terms of sales and earnings, and expects to sell between 500,000 and 550,000 tickets for Christmas-related family events.
“Disney on Ice and Marvel Universe are also highlights in the fourth quarter beside many great tours like the Red Hot Chili Peppers, Böhse Onkelz, David Garrett and others,” the company said. “The positive outlook is also supported by the disproportionate organic growth in the UK thanks to sold out events, inter alia at the Royal Albert Hall.”
Meanwhile, Kilimanjaro Live has announced that myticket.co.uk will cooperate with Twickets to “help to protect its customers from overpricing on the secondary market.”
Kilimanjaro Live chief executive and founder Stuart Galbraith spoke of “a hugely positive move for Kilimanjaro and MyTicket.co.uk [which] demonstrates our firm commitment to ensuring price transparency of tickets and ultimately as fair a deal as possible for fans.”
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