The German company's Swedish ticketing operation will become a pan-Scandinavian one as part of a joint venture with Egmont's Venuepoint
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Europe's largest ticketing service, CTS Eventim, has achieved significant growth in Q1 2018, especially in its promotion division
By Jamie Raybould on 24 May 2018
CTS Eventim has announced its financials for its first quarter, and the numbers are looking good. The company has shown group revenues increase by 32.5% to €274.5 million, while its normalised EBITDA (earnings before interest, taxes, depreciation and amortisation) increased by 21.8% to €55.4m.
In the ticketing section revenue has increased by 9.9% to €101.8m; however, the biggest achievement for the company hails from the live entertainment section, in which revenue has risen by 50.8% to €172 million. The success of the live entertainment segment has been attributed by CTS to the various promoters from the company’s portfolio, including Medusa Music and CTS Eventim in Germany, and to Medusa’s Holiday on Ice jubilee tour and the recent acquisition of Italian promoter D’Alessandro e Galli.
CTS recently acquired Spanish promoter Doctor Music, marking its expansion into Spain after months of consolidation in Italy.
“Our performance so far gives us every reason to be optimistic”
In addition to ticketing and live entertainment, proceeds from the sales of FKP Scorpio’s Northside and Tinderbox festivals have contributed to the numbers above.
The CEO of CTS, Klaus-Peter Schulenberg, comments: “In the first quarter of 2018, we followed on seamlessly from our record year in 2017. Thanks to many tours drawing big crowds, and the dynamic development of our webshops, CTS Eventim is superbly positioned for further international growth in the future.
“Our performance so far gives us every reason to be optimistic that we will improve our revenue and normalised EBITDA once again in 2018.”
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