Features
DEAG Acquires Majority Stake In LiveStyle’s German Business I-Motion
Courtesy Nature One Festival – Scene from Nature One Festival 2017
The electronic music event is now part of DEAG
Deutsche Entertainment Aktiengesellschaft (DEAG) today announced the acquisition of a 50.1% majority interest in I-Motion GmbH, the German operating unit of LiveStyle, Inc., USA.
Randy Phillips, President & CEO of LiveStyle, said, he knew that DEAG would be “a great partner for LiveStyle in Germany.”
The resulting joint venture between DEAG and Los Angeles-based LiveStyle, Inc. will open up growth opportunities throughout Europe, both companies believe, as well as enable the international expansion for the acquired festival brands including Nature One, Mayday and others.
Last but not least, DEAG’s in-house ticketing business MyTicket.de will benefit from the additional events.
I-Motion has been organising electronic music events for over 25 years, including long-established and profitable formats such as Mayday (since 1991), Nature One (since 1995) and Ruhr in Love (since 2003), which have together attracted more than 2.5 million visitors so far, according to the announcement.
Nature One is one of the largest rave events in Germany and, indeed, Europe. It was awarded a German Live Entertainment Award (LEA) in April, in the category “Best Festival in 2018”.
I-Motion sells more than 200,000 tickets a year.
A DEAG statement reads: “The Executive Board estimates that the additional sales potential for DEAG will total €15 million annually.”
I-Motion’s LA-based parent company LiveStyle, Inc., which also operates offices in New York, Chicago, Denver, Australia, The Netherlands, Germany and Brazil, produces numerous events in North America, Europe, South America, Australia and Asia.
The most important North American businesses include AMFAMFAMF, Made Event, React Presents, Disco Donnie Presents and Life In Color as well as the brands Electric Zoo, Spring Awakening, the FriendShip, LIC Miami, BLNK CNVS, All My Friends Music Festival and more.
In Europe, LiveStyle operates through locally established companies such as Monumental, B2S, ID&T, I-Motion and Q-Dance. Together with the Belgian Tomorrowland promoter, LiveStyle launched the first international version of the Tomorrowland.
– Randy Phillips
CEO of LiveStyle
Randy Phillips, President & CEO of LiveStyle, said: “Many years ago I had the pleasure of negotiating the purchase of MAMA Concerts & Rau by DEAG. In the course of closing that transaction, I got to know Peter Schwenkow, the CEO and Founder of DEAG, quite well and was very impressed by his love of music, business acumen and vision for DEAG.
“It seems I was right then and am right now. In addition, Detlef Kornett, of DEAG, and I were colleagues for many years at AEG and I am thrilled to be re-united with my friend. The key execs at I-Motion feel that DEAG is a great fit for them and I know it will be a great partner for LiveStyle in Germany.”
Prof. Peter Schwenkow, CEO of DEAG, is convinced: “The partnership with I-Motion and LiveStyle offers us further potential for our ticketing business. Through the targeted introduction of individual events abroad, we will also have the opportunity to grow internationally. For example, by offering the established and very successful electronic event ‘Mayday’ again in Poland, the UK and Switzerland in the future.”
Chuck Ciongoli, Executive Vice President and CFO of LiveStyle, added: “In recent years, I-Motion has shown, above all by planning, organising and carrying out its own projects, that our German subsidiary always knows how to set new accents in the field of events and entertainment and profits from our international network. With DEAG, we now have a strong partner at our side who can look back on a wealth of experience in this market. We are convinced that both sides will benefit from our new relationship and are looking forward to a long-term partnership.”