Market research company Technavio predicts 20% growth annually until 2020, in contrast to 2% overall in event ticketing
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CTS Eventim continues to grow in 2019, with live entertainment revenue up 19% and ticketing revenue growing 11% from the first nine months of 2018
By Anna Grace on 06 Nov 2019
German live entertainment powerhouse CTS Eventim has recorded strong financial results for the third quarter of 2019, driven by high performance in its ticketing and live entertainment sectors.
The company grew quarterly revenue by 20% from Q3 2018 to €378 million, with normalised EBITDA (earnings before interest, tax, depreciation and amortisation) increasing by 23% to €65.2m.
Live entertainment revenue grew by 22% to almost €277m and normalised EBITDA by 118% to €20.4m in a particularly strong Q3 performance. The ticketing segment also recorded substantial growth, with revenue rising 15% to €106.6m and EBITDA increasing 23% to €44.8m.
The Q3 results contribute to a successful 2019 to date for CTS Eventim, as group revenue in the year-to-date surpasses the €1 billion mark at €1.075m, a 17% increase from the first nine months of 2018.
The Q3 results contribute to a successful 2019 to date for CTS Eventim
Live entertainment revenue in 2019 is up 19% to €781.4m, with a 53% rise in normalised EBITDA to €57.8m. Ticketing revenue for the year grew 11% to €306.9m while EBITDA rose disproportionately by 17% to €119.2m.
The company expects unchanged growth in revenues and earnings for the fiscal year 2019.
It has been a busy year on the live entertainment side for Eventim, which created its pan-European promoter network Eventim Live in March. The company has since grown its portfolio with the addition of Russian promoter Talent Concert International, and is reportedly looking to add Austrian promoter Barracuda Music to its collection.
The German giant has also augmented its ticketing business recently, acquiring a minority stake in France Billet, the ticketing arm of Fnac Darty.
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