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DEAG sees early Q3 success via open-air events

Deutsche Entertainment AG (DEAG) has hailed the success of its open-air concerts as it kicks off a strong Q3.

The German entertainment and ticketing giant has seen the immediate benefits of its recent European investments as I-Motion and LMP-promoted events sell out.

The firm shifted 110,000 tickets for Sion sous les étoiles in Switzerland, Belladrum in Scotland and NATURE ONE in Germany, selling out all three events.

In total, the open-air events in the three countries counted more than 230,000 music fans.

Peter Schwenkow, chief executive of DEAG, said: “We are supplementing our organic growth by expanding our own successful entertainment formats with very selective M&A activities.

“All three open-air events are great proof of how successful we are: Established for many years, highly profitable and once again completely sold out, we are not only contributing to strengthening our profitability, but also providing growth impetus in our ticketing business. Via MyTicket we meanwhile sell tickets for all our events as well as third-party content. For NATURE ONE 2020, we are already conducting advance sales again!”

DEAG’s push forward with its ambitious buy-and-build strategy, with its executive board expecting further growth for the live entertainment and ticketing business, has helped its early Q3 success, with expectations of a strong third quarter.

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