GERMAN PAN-Europe ticketing and promoting giant CTS Eventim has acquired a 71 per cent stake in leading concert and festival promoter Barracuda Music.
Barracuda, whose festivals include Nova Rock (cap. 55,000), Electric Love (100,000) and Frequency (120,000), will become part of the Eventim Live promoter network, which encompasses 29 promoters and 30 festivals across 12 countries.
“We want to offer artistes not only powerful ticketing services, but also international touring opportunities,” says CTS Eventim CEO Klaus-Peter Schulenberg.
“Strengthening our market position in Austria is therefore an obvious step. Barracuda is one of Europe’s most creative concert promoters and ideally complements the portfolio of our Eventim Live network.”
Barracuda CEO Ewald Tatar and his management team will continue to lead the company.
“I look forward to this opportunity to continue Barracuda’s success story in the future with the support of a global player like CTS Eventim,” says Tatar.
“In particular, collaborating with the Eventim Live promoters will help us to offer artistes, venues and fans the best possible solutions. I am confident that we, and hence Austria’s concert scene as a whole, will benefit greatly from this partnership.”
Since launching in 2004, Barracuda has organised tours for artistes including Ed Sheeran, the Rolling Stones and Elton John, with more than a million tickets sold in the past year.
The company was formed when NuCoast Entertainment, Skalar and Music Net joined forces, having worked closely together for many years prior.