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CTS hails half-year revenue of $694m

World News
August 28, 2018

GERMANY    

European ticketing and promoting giant CTS Eventim is once again on course to top revenue of €1 billion ($1.15bn) annually, after posting revenue of €600m ($694m) for the first half (H1) of this year.

A culmination of strong performances in ticketing helped by increased ticket prices and major tours saw earnings before interest, tax, depreciation and amortisation (EBITDA) rise to €94.1m ($108.8m) for the period, compared to €83.7m ($96.8m) in 2017.

The company’s H1 revenue last year was €488.5m ($565m).

CTS hit revenue of €183.4m ($212.1m) across its ticketing platforms, an increase of just over three per cent on €177.8m ($205.6m). EBITDA was €65.6m ($75.8m), slightly up on last year’s figure
of €65.5m ($75.7m).

In all, 22.4m tickets were sold during the first six months of the year, compared to 20.4m in 2017.

“In addition to our strong live entertainment business, our online ticketing operations played a major role here,” says CTS CEO Klaus-Peter Schulenberg.

“Even though in many countries there were fewer presales for major tours than in 2017, we improved our web ticketing volume by almost 10 percent. This is a clear indication that we are well-equipped for further growth – not only in our present markets, but also beyond.”

Concert promoting division Medusa, which has recently acquired Italian promoters Vivo Concerti and D’Alessandro e Galli, as well as Spain’s Doctor Music, experienced revenue growth of 36 per cent from €315.5m ($364.9m) to €429.1m ($496.4m), with EBITDA up to €28.5m ($32.9m) from €18.1m ($20.9m) last year.

CTS also owns majority stakes in German promoters FKP Scorpio and Peter Rieger Konzertagentur, along with Friends & Partners and Vertigo in Italy.

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