Paul Dainty, one of Australia’s leading concert promoters, has sold his Dainty Group business to TEG, parent to one of the market’s biggest ticketing firms, to create TEG-Dainty.
The deal will create a “one-stop shop for the world’s biggest live touring artists” in Australasia and further afield, both parties boasted in a statement issued Monday (July 4). Financial terms were not disclosed.
British-born, Melbourne-based Dainty’s concert promotion business now operates within a group of companies which includes a ticketing giant with roughly 40% market share (Ticketek) and Australia’s largest arena, the 21,000-capacity Qudos Bank Arena (formerly Allphones Arena) in west Sydney, plus TEG[Live], TEG[Analytics], TEG Rewards, Softix and Eventopia.
“Joining the TEG group is a great opportunity for us to be part of a fully integrated entertainment and touring business,” comments Dainty, founder and executive chairman of Dainty Group, in a statement.
Dainty is one of Australia’s most accomplished – and longest serving — concert promoters to set up shop Down Under. He has presented tours by The Rolling Stones (four times), Eminem (twice), Paul McCartney, Guns N’ Roses, Britney Spears, The Jackson 5, Michael Jackson’s solo stadium tour and, more recently, treks by Eminem, Lionel Richie, Queen & Adam Lambert, Bon Jovi, Miley Cyrus, Neil Diamond and Katy Perry. His company’s theater division has produced such shows as “Mamma Mia,” “Jersey Boys” and “Singing in the Rain.”
Dainty Group launched a Singapore-based pan-Asian touring business in late 2014, and presented its first fully fledged tour in January 2015, featuring Michael Buble.
TEG, formerly known as Nine Live, was acquired by private equity group Affinity Equity Partners in August 2015. Since its acquisition, TEG CEO Geoff Jones notes, “we have been able to take a fresh look at the integrated entertainment market in Australia and the Asia Pacific region, and we have seen some great openings for TEG and our partner companies. The acquisition of the Dainty Group is one of our most critical acquisitions to date and we look forward to harnessing the knowledge, experience and expertise that Paul and his team will bring to our whole business.”
Ticketek processes 23 million tickets for more than 20,000 events every year, the company claims. Its key rival Ticketmaster is affiliated with Live Nation, whose Australasian affiliate is helmed by the concert promotion veteran Michael Coppel.
It’s not the first time Dainty has partnered-up with another power-player. From 1996 to 2009, Dainty joined forces with Consolidated Press Entertainment, run at the time by the billionaire media magnate Kerry Packer (who died in 2005). Dainty in 2012 teamed with Richard Branson’s Virgin Music to present the first five shows of The Rolling Stones’ 50th anniversary tour.