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HomeBusinessCTS EVENTIM, European Concert and Ticketing Firm, Earns €1bn in H1 2023

CTS EVENTIM, European Concert and Ticketing Firm, Earns €1bn in H1 2023

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The global concerts industry is experiencing significant growth, and leading live music companies are reporting impressive financial figures to support this trend. Live Nation, a major US-based live music company, recently announced Q2 revenues of $5.6 billion for its global operations, marking a 27% year-on-year increase. Similarly, Germany-based live entertainment company and ticket seller CTS Eventim reported H1 revenues of EUR €1.021 billion, representing a substantial 39% increase compared to the previous year. Notably, this is the first time CTS Eventim has generated over EUR €1 billion within a six-month period.

Digging further into CTS Eventim’s results, the company revealed that its Live Entertainment segment generated EUR €751 million in H1, indicating a 39% year-on-year growth rate. In Q2 alone, the Live Entertainment division brought in €527.2 million, reflecting an 11% increase compared to the same period last year. Additionally, CTS Eventim expanded into the North American market in September 2021 and generated €50 million in the US for H1 2023, with revenue expected to exceed €100 million for the entire year.

The company’s Ticketing segment also exhibited significant growth, with revenue climbing 41% year-on-year to €284.6 million in the first half of 2023. CTS Eventim attributes this success to high-profile tours by artists such as Herbert Grönemeyer, Hans Zimmer, and P!nk, as well as international sporting events like the ongoing World Athletics Championships in Budapest. Moreover, CTS Eventim sold 34.3 million tickets in H1, an increase of 6.4 million units compared to the previous year, representing a 22.8% growth rate. In comparison, Live Nation’s subsidiary Ticketmaster sold 151 million reported fee-bearing tickets year-to-date, reflecting a 22% annual increase. CTS Eventim’s headcount also increased from 3,190 employees in H1 2022 to 3,469 employees in H1 2023.

Overall, CTS Eventim’s normalised EBITDA reached €170.8 million for H1 2023, demonstrating a 39% year-on-year increase. Despite a 5% decrease to €94.8 million in Q2 2023 compared to the previous year, CTS Eventim CEO Klaus-Peter Schulenberg remains optimistic. He credits the company’s diverse portfolio, successful internationalization efforts, and entrepreneurial adaptability for its resilient and robust growth. Schulenberg sees the current financial figures as evidence that the wider market and CTS Eventim are performing at higher levels than before the pandemic, showcasing both healthy organic growth and expansion in new and existing business segments.

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