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DEAG revenue hits record high in the first 9 months of 2024
December1
<b>DEAG - Deutsche Entertainment AG</b> set a historic revenue record for the first nin
DEAG - Deutsche Entertainment AG set a historic revenue record for the first nine months of 2024, reaching €252.8M, a 19% increase from €213.3M in the same period last year.
Q3 revenue grew 33% to €120.1M. Despite increased production costs, weather-related disruptions, and competition from major events like the European Football Championships, the company remains optimistic about achieving year-on-year growth for the full year.
Investments and Expansion:
DEAG continued its long-term growth strategy, investing in IT modernization and ticketing platform integration to unlock new revenue streams. Acquisitions in Spain, Italy, and other European markets strengthened its market position, further diversifying its offerings in live entertainment and spoken word events.
Event Highlights:
In the first nine months, DEAG promoted over 6,000 concerts, festivals, and live events, featuring acts like AC/DC, Simply Red, and Deep Purple, alongside large-scale productions such as Disney on Ice and Monstertruck. Open-air events and EDM festivals like NATURE ONE and Airbeat One also drew large crowds.
Ticket Sales Surge:
Ticket sales reached 8.5M as of September 2024, a 35% increase year-on-year, driven by popular events and exclusive sales through DEAG`s myticket platform. The company also expects to welcome its 9 millionth visitor to its Christmas Garden series this year, underscoring its sustained appeal.
“2024 is an important year of transformation for DEAG. We have initiated and already implemented several investment programmes and continued our Buy & Build strategy despite a challenging environment for the entire industry. We made a clear commitment to these extensive investments and therefore also accepted a decline in EBITDA. We are investing heavily to sustainably drive our company’s development and offer our visitors even more unforgettable live experiences, both digitally and on site. Thanks to our strong financial structure, a diverse and high-calibre event portfolio and strong ticket sales, we are already bullish about 2025,” commented Detlef Kornett, Group CEO of DEAG.
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