Deutsche Entertainment AG (DEAG) has continued with its ambitious buy-and-build strategy after becoming a majority shareholder in MEWES Entertainment Group.
The owner of MyTicket has acquired a 51 per cent interest in the artist management, booking and the event business. MEWES Entertainment represents one of the best-known German singers, HEINO (pictured).
Through the deal, DEAG is further expanding its activities in the area of “Schlager and Volksmusik,” which is a style of popular music.
In addition, Jan Mewes, founder of MEWES Entertainment, will be joining the DEAG team as managing director.
Mewes said: “In DEAG, I have a strong partner at my side. Many of my network contacts have had very good experiences with DEAG and Peter Schwenkow in the past. So, it was only a matter of time until I jumped on board the train. I would like to thank the company for its trust. I look forward to working with them and am convinced that we can benefit from each other in the long term.”
Peter Schwenkow, chief executive of DEAG, added: “Jan Mewes brings along very good and long-standing expertise in the area of pop and Volksmusik. I look forward to working with him. With his broad network and our structural resources, we will create additional synergies for DEAG. The joint content will be merchandised via MyTicket so our ticketing business will also benefit from this investment.”
Earlier this week, DEAG hailed the success of its open-air concerts as it kicked 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.
Image: Sven-Sebastian Sajak