Strong performances in its live and ticketing sectors drove CTS Eventim revenue beyond €1 billion ($1.23bn) for the first time, in 2017.
The pan-Europe ticketing behemoth saw revenue rise 24.6 per cent to €1.034bn ($1.28bn) from €829.9m ($1.02bn) in 2016, with earnings before tax, depreciation and amortisation (EBITDA) up to €204.7m ($253.2m) in 2017, compared to €194.5m ($240.6m) the previous year.
The company has also taken a controlling stake in Milan-based concert promoter Vivo Concerti, its fourth acquisition in Italy in eight months. Vivo was bought from Warner Music by CEO Clemente Zard in March (see Audience issue 218).
“Ever since I took over Vivo Concerti, I have wanted to work with an international partner,” says Zard, who will continue to manage Vivo. “Within a short time we have found a global player in CTS Eventim, a company that is not only very familiar with our market segment, but which also shares our vision.”
Zard’s activities as an independent promoter will now also fall under the Vivo banner.
CTS sold 250m tickets last year, including 150m for 240,000 live events, helping generate revenue of €418.4m ($517.7m), up from €395.1m ($488.8m), and EBITDA of €178.6m ($220.9m). Online ticket sales rose 11.9 per cent to 48.9m.
“By expanding our digital and international operations, we have once again created value: for over 250 million ticket-buyers in Europe and South America, for innumerable artistes and promoters all over the world,” says CTS CEO Klaus-Peter Schulenberg.
CTS’s live entertainment division in Germany, Medusa, which owns MLK and majority stakes in national operators FKP Scorpio and Peter Rieger Konzertagentur, and Italian promoters Vertigo, Friends & Partners and D’Alessandro e Galli, saw revenue increase 42.7 per cent to €626.7m ($775.3m), from €439.2m ($543.3m)
However, income fell to €26.1m ($32.2m) from €27.2m ($34.2m) the year before, something the company attributed to costs incurred establishing new festival brands and relaunching existing formats.