German Live Promoters BDV and VDKD Complete Merger

Germany Heavy Metal
Daniel Reinhardt/dpa via AP

Festival goes stand in front of the main stage of the heavy metal festival in Sacken, northern Germany on Aug. 4, 2018.

Members of German live event promoters BDV and VDKD voted unanimously this week to ratify their agreement to merge organizations, forming the Bundesverband der Konzert- und Veranstaltungswirtschaft (BDKV).

The newly formed association will be lead by co-presidents, BDV's Jens Michow and VDKD's Pascal Funke. The former will also take on managing director duties for BDKV in Hamburg.

Membership of BDKV will include 500 live agencies and organizers. Germany's event industry generates annual sales of roughly €5 billion with 113.5 million tickets sold.

"For the German event industry this was a really historic day," said Michow. "The bundling of almost all companies in the industry in one association gives the BDKV considerable clout. Above all, I am delighted to be able to represent the interests of the many classical music organizers and intermediaries, who until now have only been organized in the VDKD."

Funke added: "I would like to thank Jens Michow, the directors and legal advisers for the effective cooperation of the past months and the members for their trust. Strengthened, we can calmly face the future challenges."