CTS Eventim may be looking to grow its Eventim Live promoter network, with a possible in-the-works deal to acquire the majority of Austria's Barracuda Music
Sign up for IQ Index
The latest industry news to your inbox.
Vienna-based Barracuda Music, formed in 2016 by the merger of Skalar, NuCoast and Red Snapper, becomes the 29th member of Eventim Live
By Jon Chapple on 03 Dec 2019
CTS Eventim has made official its acquisition of a majority stake in Barracuda Music, formerly the largest independent promoter in Austria.
As reported last month, the German ticketing and concert giant planned to acquire 71% of Barracuda, which promotes some of Austria’s biggest concerts and festivals. The deal has now been approved by the Austrian Federal Competition Authority (BWB), with Barracuda becoming part of the Eventim Live European promoter network.
CTS Eventim CEO Klaus-Peter Schulenberg comments: “We want to offer artists not only powerful ticketing services, but also international touring opportunities. Strengthening our market position in Austria is therefore an obvious step.
“Barracuda is one of Europe’s most creative concert promoters and ideally complements the portfolio of our Eventim promoter network. I am delighted that Ewald Tatar and his management team will continue to drive forward the development of Barracuda in their proven manner.”
Strengthening our market position in Austria is an obvious step”
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.
The acquisition by CTS adds 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, while the company has previously worked with Bob Dylan, David Gilmour, Elton John, the Rolling Stones, Ed Sheeran and Robbie Williams. Since 2012, Barracuda has also been the exclusive organiser of concerts at the historic Clam Castle, one of Austria’s most popular and prestigious venues.
CEO Ewald Tatar (pictured), who will continue to manage Barracuda’s operations from Vienna, says: “I look forward to this opportunity to continue Barracuda’s success story in the future with the support of a global player like CTS Eventim.
“Collaborating with the Eventim promoters will help us to offer artists, venues and fans the best possible solutions”
“In particular, collaborating with the Eventim promoters will help us to offer artists, venues and fans the best possible solutions. I am confident that we, and hence Austria’s concert scene as a whole, will benefit greatly from this partnership.”
Barracuda becomes the 29th member of CTS’s pan-European promoter network, Eventim Live, following the addition of number 28, Russia’s Talent Concert International (TCI), in October. The acquisition brings the number of Austrian promoters in the network to four, along with Arcadia Live, LSK and Show Factory Entertainment.
“The Barracuda Group is the first point of contact in Austria for countless outstanding local and international artists. It also has an exceptional portfolio of festivals that bring together hundreds of thousands of fans from home and abroad year after year,” says Frithjof Pils, managing director of Eventim Live.
“We very much look forward to being able to benefit from Ewald Tatar and his team’s experience and network at Eventim Live from now on.”
Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.