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Relaunch of festival hits CTS Eventim Q1 growth

GERMANY -
World News
June 14, 2019

PAN-EUROPE ticketing giant and promoter CTS Eventim reports first quarter (Q1) revenue up three per cent year-on-year to €282.7 million ($315m).

Earnings before interest, tax, depreciation and amortisation (EBITDA) were up 3.1 per cent on the previous year’s Q1, at €57.1m ($63.3m).

Both the ticketing and live entertainment arms of the business contributed growth, with ticketing revenue up 2.6 per cent to €104.5m ($116m), despite fewer major tours, but with more high-priced tickets on sale than in Q1 2018.

Live entertainment revenue in Q1 was up 4.1 per cent to €182.2m ($203m), while its EBITDA was up 1.6 per cent to €15.2m ($16.9m). 

CTS says its EBITDA in the first quarter was negatively impacted by the costs involved in relaunching Spain’s Doctor Music Festival (cap, 50,000) after a two-decade hiatus.

“As expected, our ticketing business did not grow as strongly at the beginning of the year as it did in the very successful first quarter of 2018,” says CTS Eventim CEO Klaus-Peter Schulenberg. “Our outlook for the full year remains positive.”

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