DEAG has posted a mixed financial year for 2024, featuring a record revenue total but was impacted by strategic investments for future growth.
While revenue increased by roughly 18% to reach approximately €370m (£315m/$421m) in 2024, EBITDA (earnings before interest, taxes, depreciation, and amortisation) dropped from €26.4m to €14.4m.
The decrease is related to a number of deals and acquisitions secured in 2024, helping DEAG to expand into other markets.
In June, the Berlin-founded provider of live entertainment, ticketing and entertainment services boosted its presence in the festival sector by collaborating with Black Mamba. In October, DEAG followed this up by expanding in Italy with the acquisition of Milan-headquartered MC2 Live.
Last year also saw DEAG spin off its hip-hop division to become District Live.
During the fourth quarter of 2024, revenue increased by 17% year-on-year to approximately €117m, mainly due to strong Christmas-related business.
Last year saw the business sell more than 11 million tickets as planned, beating the previous year’s total of 10 million. The goal is to sell 12 million in 2025; the year appears to be off to a great start with roughly four million tickets already sold.
The number of tickets sold during the first quarter of 2025 has already equated to revenue worth €150m.
“We have consistently implemented our growth strategy and consciously decided to invest in our sustainable business development in 2024 in order to position ourselves for the future in the best possible setup,” commented Detlef Kornett, group chief executive of DEAG.
“Successes are already visible. We have started the current year with momentum, and our ticket sales are at record levels. Our event pipeline is excellently filled, and we expect a significantly stronger year in 2025 with a substantial increase in profitability.”