Latest News

Back to Latest News back

 

TEG looks to UK expansion with acquisition of struggling venues and Ticketek launch

TEG looks to UK expansion with acquisition of struggling venues and Ticketek launch
June 17, 2020

Live entertainment and ticketing company TEG is looking to invest in UK venues impacted by the Coronavirus shutdown.

In an interview with the Financial Times, TEG Chief Executive Geoff Jones outlined the Sydney-based group’s strategy for expansion in the UK.

Explaining that TEG is looking at a handful of options to buy venues with a capacity of between 500 and 2,500 as the halt on live entertainment puts the sector under severe strain, Jones advised “there will be a lot of casualties. Without sounding like a vulture that presents opportunities.”

Jones (pictured) told the FT that he expects that half of TEG’s earnings could eventually be derived from Europe while also giving an update on plans to expand its Ticketek ticketing brand in the UK.

Having last year said the launch would come in early 2020, he said this would now happen “when the time is right”.

With Australia’s live performance and sport sectors emerging from complete lockdown, Jones is confident of recovery already.

While encouraged by the resumption of NRL games, he acknowledged that it is as yet unclear how larger venues might reopen as it is not financially viable for concerts to run at lower capacities.

Not expecting that ticket prices will rise to make up for lost revenue given lower consumer confidence and concerns over safety, he added “it won’t come back like a runaway locomotive.”

TEG took a first step in the UK market last year when it purchased Bristol-based promoter MJR and venues including Cardiff’s TramShed and The Mill in Birmingham.

In October last year, TEG was acquired by US-based technology investors Silver Lake, whose other investments include Alibaba Group, Dell Technologies, WME’s parent company Endeavor, and the Madison Square Garden Company

Earlier this week it was announced that in November, 1,000 concerts would take place across 20 nights in NSW to help restart the live music industry in the state.

Click here to view the Financial Times story.

Related Articles

17th June 2020 - Queensland Government approves return of fans to stadiums

13th June 2020 - Community sporting clubs facing financial ruin as revenue streams hit by Coronavirus impact

12th June 2020 - Live Entertainment Industry Forum welcomes potential easing of restrictions on outdoor sport and entertainment venues

12th June 2020 - Australian Prime Minister moves forward relaxation of Coronavirus rules to allow crowds to return to sport and entertainment

9th June 2020 - Industry stakeholders unite to restart sport and entertainment

1st June 2020 - NSW Government abandons plans for redevelopment of Sydney’s ANZ Stadium

26th May 2020 - NRL’s goal to have crowds in stadiums in July described as ‘absurd and dangerous’ by Australian Medical Association

26th May 2020 - Sydney’s Bankwest Stadium acknowledged as a world leader for sustainable design

20th May 2020 - Global sports sponsorship market predicted to fall by 37% this year

1st May 2020 - Coronavirus has multi-billion dollar negative impact on global sport

4th June 2020 - Live Performance Australia’s $345 million plan to restart and rebuild the entertainment industry

28th March 2020 - Major entertainment promoters call for Australian Government support through Coronavirus crisis

22nd May 2020 - Ticketek integrates Afterpay as payment option

20th May 2020 - TEG appoints Matthew Donazzan as head of strategy, mergers and acquisitions

8th April 2020 - TEG Live explains resolution with ACCC over 2019’s International Basketball Series

30th March 2020 - TEG survey suggests most Australians expect ‘normal life’ to resume within six months

4th May 2020 - Theatre impresario Sir Cameron Mackintosh says West End and Broadway shows will be ‘last to go back’

19th February 2020 - Ticketek introduces contactless tickets at Central Coast Stadium

6th September 2019 - Ticketek extends historic Melbourne and Olympic Parks partnership for another five years

9th October 2019 - Geoff Jones outlines TEG’s international growth plans

4th October 2019 - Owners sell TEG to technology investors

20th September 2019 - TEG Insights launches advertising data and insights platform

19th September 2019 - TEG unveils new experiences content division


Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

SimplySwim

    SimplySwim is a school management solution that helps swimming school owners and managers optimize operations by automating functions such as managing class schedules, billing and…

read more

Aquatics / Education / Recreation / Safety / Technology

 
 

Enta Australasia

As of the 1st July 2018, Enta Australasia Pty Ltd/Best Union has been rebranded as VIVATICKET Pty Ltd.  Click here to view the VIVATICKET Pty Ltd listing.  19th July 2018 - ENTA…

read more

Technology / Ticketing / Venues

 
 

Fun Wheels Pty Ltd

Fun Wheels Pty Ltd are the premium dealer in Australasia for the Dutch company BERG’s commercial and domestic products. Our flagship product is their revolutionary pedal go-kart – the…

read more

Attractions / Tourism / Venues

 
 

COMMERCIAL AQUATICS AUSTRALIA

Commercial Aquatics Australia provides aquatic solutions nationwide and is one of the largest and most experienced companies specialising in the design, construction, renovation, service, maintenance…

read more

Aquatics / Design / Play / Waterparks

 
 

METRA Australia

With industry leading solutions in design and durability you can improve your facilities with our access control operations, payment systems and flexible personal locker storage solutions. Your…

read more

Aquatics / Attractions / Fitness / Recreation / Security

 
 

BODY BIKE AUSTRALIA

BODY BIKE® International is a leading manufacturer of indoor bikes with a 20-year track record of creating the best indoor bikes. Stay connected with Body Bike Australia…

read more

Fitness / Recreation / Sport / Technology / Wellness

 
 

Smart Connection Consultancy

Smart Connection Consultancy is a boutique sport and recreation consultancy who has become one of Australia’s leading advocates for the use of synthetic sports surfaces as a vehicle to grow…

read more

Consultants / Recreation / Sport / Surfaces

 
 

HRMWEB

At easyemployer we've come up with a software solution that manages one of your most important, and often most costly, business resources - your staff. We are helping 100s of clients to…

read more

Finance / Fitness / Technology

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business