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CTS Eventim has acquired a majority stake in Alex Richter's promotion/booking outfit, broadening its live offering – and potentially reducing its reliance on ticketing
By IQ on 30 Mar 2017
Following an 11.9% fall in turnover last year, CTS Eventim, Europe’s largest ticket agency, has bolstered its live entertainment division with the acquisition of another concerts business, Four Artists – its second new venture of 2017.
A decline in revenues from live entertainment – described as “expected, mainly due to fewer major tours” – was the only disappointing aspect to CTS’s 2016 results, which otherwise saw strong growth of 14.1% and the more than doubling of dividends, to €0.98 per share.
The acquisition, through its Medusa subsidiary, of a majority stake in Four Artists, a promoter and booking agency focusing on international and German-language hip hop, rock and pop, follows the establishment of Vaddi Concerts, headed up by ex-Koko director Marc Oßwald, in January.
Four Artists’ roster of close to 300 artists includes Seeed, The Lumineers, Scooter, Joris, Charles Bradley, Jimmy Eat World, Marteria, Rea Garvey and company co-founders Die Fantastischen Vier, and it promotes more than 2,000 shows a year. It also co-organises a number of festivals, including Magnetic in Saarbrucken, Sputnik Spring Break in Leipzig and Fritz Deutschpoeten in Berlin.
“Our focus continues to be on finding and building up exceptional national and international talent. We are convinced this new partnership will bring considerable benefit for our artists”
CTS Eventim CEO Klaus-Peter Schulenberg says the buy-out “broadens [our] event portfolio, especially with regard to German artists and younger target groups”. He comments: “We are very happy we were able to convince Four Artists and [managing director] Alex Richter to join forces with CTS Eventim. Alex Richter and his team have demonstrated strong aptitude and intuition to identify and build new talent. Together we stand for continued sustainable growth.”
Richter (pictured), who stays on as MD, adds: “We – Die Fantastischen Vier, their management and I – look very much forward to becoming part of Medusa group with Four Artists. We were looking for a partner that shares our views on the live entertainment business and is ready to implement our strategy of quality and sustainability together with us.
“Our focus continues to be on finding and building up exceptional national and international talent. We are convinced this new partnership will bring considerable benefit for our artists and look forward to close cooperation with CTS Eventim in the future. Our special thanks go to Klaus-Peter Schulenberg, who made it clear from the start he understands our approach and philosophy and is willing to personally support it.”
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