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CTS Eventim’s annual revenue soared in 2021

CTS Eventim has reported a 60% increase in annual revenue during 2021.

The Munich-based pan-European promoter and ticketing company saw consolidated revenue rise by 58.8% to €407.8 million, compared to €256.8m in 2020.

According to CTS, the increase was driven mainly by a resurgence in ticket sales, with artists such as Ed Sheeran, Genesis and Udo Lindenberg among the bestsellers.

“The number of events on offer in our ticketing systems is increasing with each new day – a clear sign of growing confidence within the events industry, and we anticipate that festivals and large-open air events will begin to resume from the second quarter onwards, after an enforced break of two years,” says Klaus Peter Schulenberg, CEO of CTS Eventim.

The financial results also revealed a normalised EBITDA (earnings before interest, taxes, depreciation and amortisation) for 2021, rising to €208m (previous year: loss of €2.9m).

“The number of events on offer in our ticketing systems is increasing with each new day”

CTS chalks this up to cost savings, an improved operating business and extensive government aid of around €157m.

Consolidated revenue for the fourth quarter of 2021, meanwhile, was up to €227.8m, compared with €28.1m in the equivalent period of the previous year. Normalised EBITDA for the quarter amounted to €102.6m (previous year: €14.8m).

In the ticketing segment, revenue for 2021 as a whole improved by 77% to €224.1m (previous year: €126.6m). Normalised EBITDA stood at €177.1m, following a loss of €23.6m in 2020. In the fourth quarter of 2021, there was an increase in revenue to €113.5m (previous year: €19.5m), while normalised EBITDA rose to €85.8m (previous year: loss of €11.0m).

Annual revenue in the live entertainment segment advanced by 39.7% in 2021 to reach €191.1m (previous year: €136.8m). Normalised EBITDA for the segment came to €30.9m (previous year: €20.7m). In the last three months of the reporting year, revenue generated by live entertainment improved to €117.0m, compared with €9.5m in the final quarter of 2020. The segment’s normalised EBITDA for the fourth quarter totalled €16.8m (previous year: €25.8m).

“These financial results provide further evidence of the strength and financial stability of the group,” says Schulenberg. “2021 was also a year in which key strategic initiatives strengthened our international position.”

“These financial results provide further evidence of the strength and financial stability of the group”

In 2021, CTS launched Singapore-based Eventim Live Asia, entered the North American ticketing market and announced plans for a new 16,000-capacity arena in Milan, Italy.

In the same year, the live entertainment giant also acquired software and hardware developer Simply-X and regional ticketing providers Kölnticket and Bonnticket.

In addition, the tickets for Ed Sheeran’s European tour were the first to be sold by CTS Eventim exclusively through its proprietary digital ticket, Eventim.Pass.

Elsewhere, EMC Presents, a joint venture established with US promoter Michael Cohl in 2020, organised the group’s first tour in the US at the end of 2021 with Genesis as the headline act.

The company says it is “optimistic” about its prospects for 2022 after two pandemic-hit years, and believes it is “well-positioned” for a restart of the live entertainment sector.

At the time of writing, CTS Eventim’s share price is up 1.38% to €60.06.

 


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Eventim Live Asia makes two senior appointments

Eventim Live Asia, a new arm of CTS Eventim’s European promoter alliance, has appointed Samantha Tzovolos as managing director for Singapore, and Mike Galt as senior vice-president of touring for Asia.

Tzovolos will be based in Singapore – where the company is headquartered – and will report to CEO Jason Miller.

Alongside her role at Eventim Live Asia, Tzovolos will continue to run TEM, an independent live entertainment company based out of Jakarta, Indonesia.

Over the past decade, as CEO of TEM, Tzovolos has produced many of Indonesia’s biggest shows, including Sting, Michael Buble, Ariana Grande and the Chainsmokers.

She has also produced top events in Singapore and elsewhere in Asia, including Justin Bieber, Foo Fighters and others.

“I’m excited to bring my extensive network and track record of success in emerging markets to Singapore and to Eventim Live Asia,” says Tzovolos. “Singapore and South East Asia represent some of the biggest and most dynamic opportunities for the future of touring. Jason Miller and CTS Eventim share a powerful vision for these markets.”

“Jason Miller and CTS Eventim share a powerful vision for [Singapore and South East Asia]”

Mike Galt will continue to be based in London, and also report to Miller. He has more than two decades of live entertainment experience. Most recently, he was VP of talent and touring for Live Nation, focused on international and emerging markets.

Galt produced tours for Mumford and Sons, Troye Sivan, Guns N Roses, The Japanese House, The Weeknd and others. He also booked talent for Abu Dhabi’s Formula 1 post-race concerts, along with expanding the touring footprint in and around the Middle East while based in the United Arab Emirates.

“I’m thrilled to get to work on behalf of Eventim Live Asia, leveraging my substantial experience in building tours in emerging markets,” says Galt. “It’s important that artists and talent representation have more options when it comes to touring Asia and other regions in the years to come.”

Miller adds: “These two appointments reflect Eventim Live Asia’s commitment to providing touring artists with the absolute strongest experience and deepest relationships in Asia. ELA is thrilled to welcome Samantha and Mike to the team. They will provide enormous, unmatchable value to artists looking to tour the region.”

Klaus-Peter Schulenberg, CEO of CTS Eventim, says: “Eventim Live Asia is a central component of our international expansion strategy, alongside our activities in North America. We are very pleased to have gained two top professionals in Samantha and Mike. In the future, they will support Jason Miller with all their strength and expertise in bringing top international artists for CTS Eventim to the promising Asian market.”

Eventim Live Asia was launched last summer, with a focus on China, Japan, South Korea, Singapore, Hong Kong, Taiwan, Indonesia, the Philippines, Thailand, Vietnam and Malaysia.

 


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CTS launches Singapore-based Eventim Live Asia

Leading international promoter and ticket agency CTS Eventim has announced the launch of Eventim Live Asia, an expansion of its European promoter alliance Eventim Live with a focus on China, Japan, South Korea, Singapore, Hong Kong, Taiwan, Indonesia, the Philippines, Thailand, Vietnam and Malaysia.

The new company, headquartered in Singapore, is led by CEO Jason Miller, who, as senior vice-president of international and emerging markets for Live Nation, led that company’s touring activity across its Asia and the Middle East offices until he stepped down last year.

In addition to Eventim Live Asia, Eventim Live, formed in early 2019, includes 36 promoters in 15 countries, the most recent addition being Matt Schwarz’s DreamHaus in Germany. The launch of Eventim Live Asia, a joint venture with Miller, follows a similar tie-up with promoter Michael Cohl in North America, first announced last year.

“Following on from our joint venture with Michael Cohl in the US market, the launch of Eventim Live Asia marks another key milestone in achieving our strategic objective of offering tours and ticketing around the world,” says Klaus-Peter Schulenberg, CEO of Bremen-based CTS Eventim. “This is a further sign that, as announced, CTS Eventim will emerge from the coronavirus crisis with renewed strength.”

 

Frithjof Pils, managing director of Eventim Live, says: “We’re delighted to welcome Jason Miller to the team. He has extensive experience in our industry in Asia at the highest level and has an excellent network of contacts. He will enable Eventim Live Asia to bring amazing concerts by leading international artists to fans in this major world region. We also want to intensify our work with local artists going forward.”

With Live Nation, Miller produced 80% of the highest-grossing Asian tours for western artists in the past decade, including Bruno Mars, Coldplay, Madonna, Maroon 5 and U2. Prior to joining LN Nation, Miller was an agent at CAA, where he worked with high-profile clients including Beyoncé, Jimmy Fallon, Kanye West and Stevie Wonder.

“The pandemic has created unprecedented global demand for live music and shared experience. With Asia representing over half of the world’s population and its fastest-growing middle class, there is no better time or place to be launching an event promotion company,” says Miller.

“Eventim Live’s tremendous resources, vision, experience, and respect across the live event industry make it the perfect joint venture partner.”

 


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