fbpx

PROFILE

MY SUBSCRIPTION

LOGOUT

x

The latest industry news to your inbox.

    

I'd like to hear about marketing opportunities

    

I accept IQ Magazine's Terms and Conditions and Privacy Policy

news

CTS boosts revenue, earnings for another record year

CTS Eventim had a record year in 2019, growing group revenue to €1.44 billion, thanks to its Eventim Live platform and online ticketing operations

By Anna Grace on 11 Mar 2020

CTS boosts revenue, earnings for another record year

The Lanxess Arena is part of Eventim's venue portfolio


image © GEDANKENtanken GmbH/Wikimedia Commons

German live entertainment powerhouse CTS Eventim reported record revenue and earnings for the 2019 financial year.

Group revenue rose by 16.2% in 2019 to a total of €1.44 billion. Earnings before interest, tax, depreciation and amortisation (EBITDA) also grew substantially, increasing 25.6% from €228.1 million in 2018 to €286.5m in 2019.

Ticketing and live entertainment both contributed to the growth, with live entertainment revenue increasing 21.3% to 985.8m – over €170m more than in 2018 – and ticketing growing 7.7% from the year before to €481.6m.

Earnings in both sectors saw strong growth, with EBITDA more than doubling in live entertainment, increasing from €32.3m in 2018 to €66.1m last year. In ticketing, EBITDA increased 12.6% to €220.4m.

The company puts its growth down to major tours by the likes of Ed Sheeran and to the activities of those in its fast-expanding Eventim Live promoter network, which has grown from an initial 26 promoters across 9 countries to 34 tour operators in 15 markets.

Most recently, Eventim partnered with global touring pioneer Michael Cohl, signalling its intention to expand outside of Europe.

“We continued to grow significantly over 2019, while at the same time enhancing our market position at both national and international level”

Improvements to the company’s ecommerce operations facilitated a 5.6% increase in the number of tickets sold by webshops operated by the CTS Group, with 57.3m tickets sold over the year.

“In 2019 we delivered impressive proof of the successfulness and profitability of our integrated business model comprising ticketing services, live entertainment and content,” comments CTS Eventim CEO Klaus-Peter Schulenberg.

“We continued to grow significantly over 2019, while at the same time enhancing our market position at both national and international level. The venues we operate also showed encouraging growth and are among the best in the world.”

Eventim’s venue portfolio includes the 18,000-capacity Lanxess Arena in Cologne, the 22,000-capacity Waldbühne in Berlin and the 5,000-capacity Eventim Apollo in London.

“CTS Eventim has long been an integrated entertainment corporation that offers its customers a full and highly diversified range of live events,” adds Schulenberg. “The company is constantly developing and changing, adapting itself to the needs and requirements of new markets and a new age.”

The full CTS Eventim annual report will be published on 17 March 2020 and will be available for download here.

Photo: GEDANKENtanken GmbH/Wikimedia Commons (CC BY-SA 4.0) (cropped)

 


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.

FOLLOW IQ

Leave a Reply

Your email address will not be published. Required fields are marked *