For the international contemporary live music industry
LiveUK

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.

Other Stories

Sergeant back to the old firm

June 14, 2019
VETERAN VENUE manager Paul Sergeant returns to AEG Ogden to become its regional director of special projects Sergeant’s experience includes working at the UK’s Wembley…
Read more

Casino win for Live Nation, as AEG exits

June 14, 2019
THE 4,298-capacity Colosseum at Caesars Palace in Las Vegas will not only be undergoing a significant renovation this summer, but reopens with a new partner…
Read more