Ticketek owner TEG buys majority stake in Sydney start-up FAN+
Live entertainment and ticketing giant TEG has come calling for Sydney start-up FAN+, which sells personalised experiences starring the customer’s favourite Aussie sportsperson or entertainer.
TEG CEO Geoff Jones. Louie Douvis
Street Talk can reveal TEG, which is owned by American private equity firm Silver Lake Partners, has acquired a majority stake in FAN+ for an undisclosed amount.
TEG, which owns Ticketek, is joining FAN+’s star-studded shareholder register, which includes Artesian Capital, Pacific Equity Partners founder Rickard Gardell, former Merrill Lynch Australia boss Greg Bundy, hotel mogul Jerry Schwartz and Craig Carracher, a former operative for Packer family’s Consolidated Press Holdings (CPH).
It has also attracted investments from the C-suites of ASX-listed leisure and entertainment businesses. Seven West Media boss James Warburton, Hoyts Group CEO Damian Keogh, Helloworld Travel’s Andrew Burnes have all written cheques for FAN+.
FAN+ sells users personalised experiences like one-on-one footy training sessions with AFL player Adam Treloar, a Zoom session with Western Bulldogs captain Ellie Blackburn, or even a video message from Home & Away cast member Dan Ewing.
It’s also got auctions, where fans bid against each other to, say, flip the coin at a sports match.
Hottest ticket in town for TEG
TEG planned to integrate the FAN+ experience with its ticketing arm, Ticketek. As an example, fans would be able to buy add-ons like backstage tours, an invitation to the opening night launch party, or entry to a pre-show sound check.
FAN+ founder and boss Rod Harys (right) with volleyball star Kerri Potthart and FAN+ employee Aaron Warburton in 2018.
TEG chief executive Geoff Jones said the acquisition would leverage TEG’s portfolio of live events. The business delivers 30 million tickets annually to more than 30,000 events in 13 countries. It also operates live venues like Sydney’s Qudos Bank Arena.
“AT TEG we believe nothing beats the live experience and to be able to personalise that live experience with a FAN+ moment is the perfect extension of our offering,” Jones said.
FAN+ founder Rod Harys said TEG’s backing would allow the start-up to scale its offering to a larger audience.
“To have the backing of TEG, the scale of Ticketek and leadership of Geoff Jones is a game-changer for FAN+,” he said.
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