Wednesday, 31 August 2016
DEAG plans expansion in the UK
Deutsche Entertainment AG (DEAG), the parent company of Kilimanjaro Live and classical music promoter Raymond Gubbay Ltd, has signalled that it plans to expand it activities in the UK, despite Britain’s vote in June to leave the European Union. In its financial results for the first half of 2016 (H1), Peter Schwenkow, chairman of the German concert/festival promoter and ticket agent, praised “better-than-expected” growth from its British subsidiaries and said, “despite ‘Brexit’, the English market remains highly attractive to DEAG”, adding that he is “examining opportunistic acquisition opportunities” in the UK. Schwenkow told IQ that he expects “continued dynamic growth” in the UK in 2017, chiefly from “six major rock tours [currently] in preparation”.