DEAG Deutsche Entertainment Aktiengesellschaft: Moritz Schwenkow appointed Member of the Executive Board and Chief Ticketing Officer of DEAG
DGAP-News: DEAG Deutsche Entertainment Aktiengesellschaft / Key word(s): Personnel
27.03.2020 / 10:45
The issuer is solely responsible for the content of this announcement.*Corporate News *
*Moritz Schwenkow appointed Member of the Executive Board and Chief Ticketing Officer of DEAG*
*Berlin, 27 March 2020* - The Supervisory Board of DEAG Deutsche Entertainment Aktiengesellschaft (Prime Standard, ISIN: DE000A0Z23G6, stock exchange symbol: LOUD, "DEAG") has appointed Moritz Schwenkow, 38, to the Executive Board with effect from 1 April 2020. As Chief Ticketing Officer (CTO), he will be responsible for DEAG's entire ticketing business in the future and will develop synergies between the ticketing platforms myticket.de, myticket.at, myticket.co.uk and the UK ticketing platform Gigantic.com, which was acquired in December 2019. As CTO, he is also responsible for the expansion into further European countries and, in the long term, also for the consolidation of all ticketing activities.
Moritz Schwenkow has 15 years of experience in the live entertainment industry and has held many management positions at DEAG and various Group companies in recent years. Among his other positions, he has been CEO of mytic myticket AG since 2015.
By appointing Moritz Schwenkow Chief Ticketing Officer (CTO), DEAG underscores the great and constantly growing importance of ticketing for its integrated business model. DEAG currently sells more than 5 million tickets internationally every year. A significant share of sales is handled via DEAG's own ticketing platforms. With the acquisition of the UK ticketing platform Gigantic.com in December 2019, DEAG has further strengthened its ticketing division quite significantly and expanded the share of third-party content for non-Group events. In the years to come, the company hopes to expand further into other European countries and plans to at least double the number of tickets sold via its own platforms in the medium term. This will make ticketing DEAG's fastest-growing business area in the years to come and an important driver of earnings.
Moritz Schwenkow, CTO of DEAG: "I am very much looking forward to working together with my colleagues on the Board. The DEAG Group is already excellently positioned internationally in the area of ticketing through MyTicket and Gigantic. On this strong basis and as a result of increasing digitalisation, we want to continue to grow, provide impulses for other business areas and further expand our earnings power in the years to come."
Wolf-Dieter Gramatke, Chairman of the Supervisory Board of DEAG: "Moritz Schwenkow has extensive know-how in the live entertainment industry. With his expertise and market knowledge, he will continue to drive our successful expansion of the ticketing business and further strengthen our position in the market."
Moritz Schwenkow complements the Executive Board of DEAG, which previously consisted of Prof. Peter Schwenkow (CEO), Christian Diekmann (COO & CDO), Detlef Kornett (CMO & International Business Affairs) and Roman Velke (CFO).
*About DEAG*
DEAG Deutsche Entertainment Aktiengesellschaft (DEAG) is a leading entertainment service company and a provider of Live Entertainment in Europe with subsidiaries in its core markets. DEAG produces and profitably organises a broad range of live entertainment events and concerts. As a Live Entertainment service company with an integrated business model, DEAG has extensive expertise in the organisation, marketing and holding of events, as well as in ticket sales via its own ticketing platform 'MyTicket' for its own and third-party content. The highly scalable business model of MyTicket strengthens DEAG on its way to increasing profitability. DEAG promotes over 4,000 concerts and events a year and currently sells more than 5 million tickets, of which a steadily increasing share is sold via its high-turnover ticketing platform MyTicket.
Founded in Berlin in 1978 and listed since 1998, DEAG's core businesses include Rock/Pop, Classics & Jazz, Family Entertainment and Arts+Exhibitions. The Family Entertainment and Arts+Exhibitions divisions in particular are of great importance to the further development of DEAG's own content. With its strong partner network, DEAG is excellently positioned in the market as an internationally active Live Entertainment service company.
DEAG shares (ISIN: DE000A0Z23G6 | WKN: A0Z23G |ticker symbol: LOUD) are listed in the Prime Standard of the Frankfurt Stock Exchange, the quality segment of Deutsche Börse.
*About MyTicket*
mytic myticket AG is a 100%-owned subsidiary of DEAG Deutsche Entertainment AG and has been successfully offering concert and event tickets online via the ticket portals myticket.de, myticket.at and myticket.co.uk since 2014. As an official vendor with additional products related to ticket sales and a focus on service and services, such as an integrated resale platform, MyTicket positions itself close to the customer. The product range includes tickets for major events as well as club concerts, sports events and special interest shows. mytic myticket AG is managed by Moritz Schwenkow (Executive Board/CEO) and Lukas Goy (COO).
*Investor & Public Relations *
edicto GmbH
Axel Mühlhaus
Tel: 0049 69 905505-52
Email: deag@edicto.de
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27.03.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: DEAG Deutsche Entertainment Aktiengesellschaft
Potsdamer Straße 58
10785 Berlin
Germany
Phone: +49-30-810 75-0
Fax: +49-30-810 75-519
E-mail: deag@edicto.de
Internet: www.deag.de
ISIN: DE000A0Z23G6, DE000A2NBF25
WKN: A0Z23G, A2NBF2
Listed: Regulated Market in Berlin, Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange; London
EQS News ID: 1008911
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