German concert promoter Deutsche Entertainment AG has formed a joint venture with U.S. ticketing giant Ticketmaster to launch a German electronic-ticketing distributor called Ticketmaster Deutschland.
Berlin-based DEAG will take a reported 10%-25% minority stake, while Ticketmaster will control the company, operate the services and be responsible for future financing.
A launch date for the service has yet to be finalized.
The move into e-ticketing, a sector pioneered internationally by Ticketmaster, will see DEAG also expand its e-commerce initiatives. These include its Print@Home trial, which enables consumers to buy their tickets online and print them out at home.
The new Ticketmaster Deutschland is expected to compete against Munich-based German ticketing market leader CTS Eventim. It will also serve neighboring German-speaking markets such as Austria and Switzerland.
