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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CTS Eventim may be looking to grow its Eventim Live promoter network, with a possible in-the-works deal to acquire the majority of Austrian indie promoter Barracuda Music
By Anna Grace on 05 Nov 2019
German live entertainment powerhouse is looking to expand on its growing European promoter base, as plans emerge for a potential acquisition of a majority stake in Austrian promoter Barracuda Music.
According to Pollstar, the deal would see Eventim take a 71% stake in the promoter, the largest remaining independent player in the country.
“A possible transaction is currently being reviewed by Austria’s Federal Competition Authority,” an Eventim spokesperson tells IQ. “We do not wish to anticipate the outcome and cannot currently provide any further information regarding a possible collaboration with Barracuda.”
The acquisition would add festivals including Nova Rock (55,000-cap.), FM4 Frequency (120,000-cap.), Electric Love (70,000-cap.) and concert series FM4 Indiekiste and Beat the Fish to the Eventim portfolio.
Upcoming Barracuda-promoted shows include Nick Cave and the Bad Seeds, Santana, Avril Lavigne, Parkway Drive and the Kaiser Chiefs.
“A possible transaction is currently being reviewed by Austria’s Federal Competition Authority”
Formed in 2016 as the result of a merger between leading indies Skalar, Red Snapper and NuCoast, Barracuda was the biggest player in both concerts and festivals in Austria last year, according to a 2018 IQ market report, although competition from leading multinationals was growing.
“To be the only, big independent player is not easy when Live Nation, DEAG and CTS all have offices in Vienna,” Barracuda’s Ewald Tatar told IQ for the report, adding that business remained “very, very good” for Barracuda.
If the acquisition were to take place, the Austrian promoter would join CTS’ pan-European promoter network, Eventim Live, which currently comprises 28 companies, following the addition of Russia’s Talent Concert International (TCI) last month. The deal would bring the number of Austrian promoters in the network to four, adding to current members Arcadia Live, LSK concert agency and Show Factory Entertainment.
Eventim finalised its acquisition of a minority stake in France Billet, the largest ticketing platform in France, last week.
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