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DEAG sees huge returns in third quarter of 2022

Deutsche Entertainment (DEAG) continued to reap the rewards of its bullish M&A strategy in the third quarter of 2022, according to the company’s latest financial results.

The Berlin-based live entertainment group saw revenue and operating profit massively improve in Q3, compared to both last year and the pre-crisis year 2019.

Revenue rose to €101.7 million during Q3 of 2022, up 72% compared to the same period in 2019 and a six-fold increase compared to revenue of €16.7m in the same period of the previous year.

EBITDA (earnings before interest, taxes, depreciation and amortisation) increased significantly to €10.2m in the third quarter, which equates to an increase of 110% compared to the figure for 2019, or an increase of 134% compared to EBITDA of €4.3m in the same period of 2021.

DEAG says the strong financial results are driven by a significant upturn in operating activities in all of the company’s national markets (Germany, the UK, Switzerland, Ireland and Denmark).

The companies bought by DEAG since 2019 also made a significant contribution to the results. Recent acquisitions include Ireland’s tickets.ie. platform, as well as German festivals Indian Spirit, Classic Open Air and Airbeat One.

“2022 will be a record year for DEAG”

DEAG’s event portfolio now has more than 30 annual festivals across the aforementioned markets that attract more than 580,000 visitors.

Notable events for DEAG in Q3 2022 include the sold-out open-air events Belladrum Tartan Heart Festival in the UK and Sion sous les étoiles in Switzerland.

In Germany, the electro music festivals Nature One, Ruhr-in-Love and Mayday were deemed “complete successes” and drew around 100,000 visitors.

“We are extremely satisfied with our performance in the third quarter,” says Professor Peter L.H. Schwenkow, CEO of DEAG.

“Despite a challenging economic environment overall, the excellent development in the first six months of 2022 continued with high momentum in the third quarter.

“We successfully staged countless concerts and events and recorded a record summer in ticketing with three million tickets sold between June and August alone. We are experiencing unabated high demand for tickets to events and concerts. 2022 will be a record year for DEAG. The first quarter of 2023 is already characterised by high visibility. We expect our dynamic growth to continue beyond 2022.”

DEAG says it expects revenue to grow to €300 million, with a further improvement in EBITDA for the full year 2022.

 


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Schulenberg: CTS going ‘from strength to strength’

CTS Eventim CEO Klaus-Peter Schulenberg says the company is going “from strength to strength” in its post-pandemic recovery as it projects record results for 2022.

Shares in the Munich-headquartered firm climbed by more than 10% on the back of last week’s quarterly financials, and has continued to rise in the subsequent days. From a monthly low of €45.84 on 21 October, the share price soared to a high of €58.80 this past Monday (14 November).

The pan-European ticketing, promoting and venue giant’s sales rocketed from €115 million in the Covid-hit third quarter of 2021 to €694m in Q3 2021. Sales in the equivalent period of the last pre-pandemic year of 2019 were €378m.

“These excellent results are testimony to the fact that our strategic initiatives are taking us from strength to strength following the post-pandemic restart of live entertainment,” says Klaus-Peter Schulenberg, CEO of CTS Eventim, presenting the figures
for the first nine months of 2022.

‘We will maintain this proven course in order to continue to drive our profitable growth, both at home and abroad”

CTS forecasts group revenue of at least €1.7 billion for 2022 as a whole, with normalised EBITDA of at least €330m expected.

“Even in the face of new uncertainties caused by the high level of inflation and geopolitical factors, we will maintain this proven course in order to continue to drive our profitable growth, both at home and abroad,” adds Schulenberg.

Group revenue for the first nine months of 2022 was €1.429bn, bettering the figure for the same period in 2019 by 33%, with normalised EBITDA jumping by 51% to €268m.

Ticketing revenue rose to €339m in the first nine months compared to 111m in 2021 and higher than in the corresponding period of 2019, with the volume of online tickets sold in the period (45.1 million) also substantially higher than 2019.

In the company’s live entertainment segment, revenue improved to €1,1bn for the nine-month period (previous year: €74 million), which was was also significantly higher than in the corresponding period of 2019.

 


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CTS Eventim’s Q2 exceeds pre-pandemic results

CTS Eventim is hailing an “impressive comeback” for live entertainment, as it shares bullish financial results for the second quarter of 2022.

The pan-Europe ticketing giant, promoter and venue operator maintained its strong recovery in Q2 and even exceeded its results for the corresponding period of 2019, which had been a record year.

The past three months saw the return of the company’s flagship festivals, Rock am Ring and Rock im Park, as well as a “huge number” of concerts across its core markets.

“Live entertainment, which many people really missed during the pandemic, is making an impressive comeback this summer, and this is directly reflected in our business performance,” says CEO of CTS Eventim, Klaus-Peter Schulenberg.

The group’s revenue increased to €734.4 million in the first half of 2022, compared with €65.3m in the same period of 2021.

Consolidated revenue was also higher than in the first half of 2019 at €696.6m. This trend was even more pronounced in the second quarter of this year, during which revenue increased to €595.1m, compared with €45.7m in the second quarter of 2021 and €413.9m in the second quarter of 2019.

“We are very optimistic that our industry has now finally turned the corner after two very difficult years”

The group’s normalised EBITDA (earnings before interest, taxes, depreciation, and amortisation) amounted to €129.1m in the first six months of 2022, following €79.4m in the prior-year period and €111.8m in the first half of 2019.

As a result of revenue and margin growth in the ticketing business, normalised EBITDA stood at €105.4m in the second quarter of 2022, compared with €99.1m in the second quarter of 2021 and €54.7m in the second quarter of 2019.

In the ticketing segment, revenue rose to €201.5m in the first half of 2022 (previous year: €49.6m), which was slightly higher than in the corresponding period of 2019. In the second quarter of this year, ticketing revenue came to €125m (previous year: €36.1m), which was up sharply compared with the pre-pandemic level in the second quarter of 2019.

The volume of tickets sold worldwide also bounced back strongly in the first half of 2022, slightly exceeding the level in the first half of 2019. CTS Eventim’s best-performing core markets in this regard were Italy and Switzerland, which recorded significant increases. Notably, worldwide ticket sales in the second quarter of 2022 were up 38% compared with the same quarter of 2019.

In the live entertainment segment, revenue improved to €541.5m in the first six months of 2022 (previous year: €18.3m), which was substantially higher than in the corresponding period of 2019. In the second quarter of this year, revenue climbed to €476.4m (previous year: €11.5m), up sharply compared with the figure three years ago.

“Given the robust relaunch of cultural activities and live events, we are very optimistic that our industry has now finally turned the corner after two very difficult years,” says Schulenberg. “However, increasing prices, a lack of staff, the threat of an energy shortage and uncertainty about how the pandemic will unfold remind us that the long-suffering events sector has not yet emerged from the crisis. Nevertheless, we believe that CTS Eventim is ideally placed to continue seizing opportunities in order to maintain its growth trajectory.”

 


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WME parent boosted in Q2 by return of live events

WME parent Endeavor has reported continued growth across its portfolio in the second quarter of 2022, prompting the company to increase its full-year forecast for adjusted EBITDA.

Endeavor, which also owns sports agency IMG and the Ultimate Fighting Championship (UFC), among other properties, generated revenue of US$1.313 billion for the quarterly period ended 30 June, 2022.

Net income came to $42.2m while adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) totalled $306.4m.

The agency’s representation business (comprising WME, sports agency IMG and Endeavor Content) generated revenue of $358m for the quarter, up $29.7m or 9% compared to the second quarter of 2021.

The segment’s adjusted EBITDA was $111.2m for the quarter, up $49.5m or 80% year over year.

According to the company, the growth was primarily driven by the continued strong demand for talent, including the recovery of music and comedy touring, as well as increased corporate client spending.

WME artists include Drake, Justin Timberlake, Adele, Bruno Mars, Pearl Jam, Kendrick Lamar, the Killers, Bjork, Frank Ocean, Foo Fighters, St Vincent, Shakira and more.

Elsewhere, the Events, Experiences & Rights segment revenue was $627.9m for the quarter, up $99.2m or 19% compared to the second quarter of 2021.

“We benefited from strong growth globally across our segments in the second quarter”

Increases were primarily driven by the return of full-capacity live events including music festivals, the Masters, and the NCAA Final Four, as well as the inclusion of the Madrid Open and NCSA acquisitions.

The segment’s adjusted EBITDA was $108.1 million for the quarter, up $71.3m or 194% year over year.

Owned Sports Properties segment revenue was $331.9m for the quarter, up $73.1m or 28% compared to the second quarter of 2021.

Growth was primarily driven by an increase in media rights fees and live event, partnership, consumer product and licensing revenues at UFC, as well as higher revenues at PBR (Professional Bull Riders), and the inclusion of Diamond Baseball Holdings.

The segment’s adjusted EBITDA was $161.3m for the quarter, up $29.0m or 22% year over year.

The upswing in each segment has prompted Endeavor to slightly adjust its full-year forecast for adjusted EBITDA to a range of $1.13bn to $1.17bn, which is up from the estimate of $1.1bn to $1.15bn offered in May with Q1 results.

Revenue for 2022 is expected to be between $5.235bn and $5.475bn, as estimated in the Q1 results.

“We benefited from strong growth globally across our segments in the second quarter,” said Ariel Emanuel, CEO, Endeavor.

“While we recognise there are broader macroeconomic forces at play, given the quarter’s performance and our line of sight through the end of the year, we’ve once again raised our Adjusted EBITDA guidance. We remain focused on our long-term strategy – leveraging the diversity and scale of our businesses to drive maximum value for our shareholders, our clients and our owned IP.”

 


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LN Q2 results: live biz back ‘bigger than ever’

Live Nation CEO Michael Rapino has declared the live business is back “bigger than ever”, with the company’s Q2 financials showing 2022 ticket sales are outperforming pre-pandemic levels.

LN’s share price had risen 12% in the last month in anticipation of yesterday’s results, and closed at $97.63 last night.

The firm attained its highest quarterly attendance ever, attracting more than 33 million fans across 12,500 events, as revenue soared to $4.4 billion – up 40% on the same period in 2019. In addition, operating income was up 86% to $319 million, while AOI rose 50% to $480m.

“We have sold over 100 million tickets for our concerts this year, more than we sold for the entire year in 2019”

“The second quarter confirmed that live entertainment industry is back globally and bigger than ever,” says Rapino. “Live Nation led this return and continues to deliver the best global network to support artists as they play shows for the fans around the world.

“We have sold over 100 million tickets for our concerts this year, more than we sold for the entire year in 2019.”

Ticketmaster also delivered another record quarter, with AOI up 86% and transacted GTV increasing 76%. The figures account for the three months ending 30 June.

“Ticketing had another very successful quarter, delivering $231 million of AOI, making it the most profitable quarter ever for ticketing, beating the record set just last year in the fourth quarter and nearly doubling the Q2 2019 AOI results of $124m,” says CFO Joe Berchtold. “Our growth came from both primary and secondary ticketing with transacted ticketing GTV up 69% and 141%, respectively.”

Berchtold suggests that indications are pointing towards “a very strong Q3 for concerts”, with more shows and a higher attendance.

“As we prepare for 2023… we are actively routing into all markets with the largest artist pipeline we have ever seen at this point in the year”

Rapino adds that next year is shaping up to be a similarly impressive year.

“As we prepare for 2023, everywhere globally is open for concerts, and we are actively routing into all markets with the largest artist pipeline we have ever seen at this point in the year,” says Rapino. “For the 2023 tours we have put on sale so far, all signs continue pointing to strong fan demand.”

Amid the controversy over “dynamic” ticket prices for Bruce Springsteen’s 2023 tour, where the top priced tickets surpassed $5,000, Rapino reports that market-based pricing is being widely adopted by most tours.

“We expect to shift over 500 million from the secondary market to artists this year, continuing to support those who created the concert and ensuring they are benefiting from it,” he says.

“We work for the artist. Our job is to provide all the tools, platform and services to help them succeed in that tour”

Rapino elaborated further on the issue when speaking to investors during yesterday’s earning call.

“We’ve been saying for a few years that over time, we believe that that secondary [ticketing] $10 billion, $12 billion, depending on what number you see globally, has to start getting captured by the artist at some level,” he said. “It’s just too transparent. The more they see all of the online pricing while they work so hard to put that show on. So… artists are looking at us saying, ‘I’d like to count some of it in the front end. I don’t want to be sold out at 10.01am at $200 to have someone else make $2,000.’

“Fans are not getting a deal anyway, they’re spending $2,000 from somebody else. So I do think they’re looking and saying, ‘the front of the house, can we capture some demand?'”

“We’ve got a global product and we’ve got lots of opportunity to keep growing”

He added: “We work for the artist. We’re a B2B business. Our job is to provide all the tools, platform and services to help them succeed in that tour.

“They’re genius brand managers. They have to balance the needs of their fans, supply, demand and pricing. And some brands, like the Rolling Stones, have been very good at always saying expensive experience and we’re that proud and enable to deliver that brand position. But I think artists are always trying to find a fine line on how do I make the show accessible? How do I make sure all my fans can show? How do I price it fairly versus how much money can I make? So I think they see that.

“Today, while the technology is advancing and they’re starting to look at more technology and more pricing data, I think they can now [price] 1-2% of the house higher and achieve some of those economics versus the scalper, while still pricing 98% of the house at a very stable brand position. So we can achieve both.”

Rapino also addressed the company’s global strategy in the wake of recent moves in Thailand and the Philippines.

“We look at Asia as really undeveloped territory, low market share, huge opportunity,” he said. “Like everyone else in the world, we look at Asia, we look at Latin America, and we’re looking to the Middle East and Eastern Europe as areas where we have no real market share. But that consumer now on TikTok knows that Drake dropped the video last night, whether they live in Singapore, India, Cape Town. So we’ve got a global product, and we’ve got lots of opportunity to keep growing.”

 


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HYBE reports best-performing quarter yet

HYBE (formerly Big Hit Entertainment) has published its financial results for Q2 of 2022, heralding its best-performing quarter yet.

The South Korea-based entertainment giant reported revenue of KRW 512 billion (USD 391 million) in the second quarter of 2022, up 79.7% from the first quarter of this year. While operating income hit KRW 88bn for the three months prior to 30 June.

The record-breaking revenue came from Hybe artists’ album sales, promotion, and concerts, as well as merchandise and IP licensing.

HYBE’s roster of artists includes K-pop superstars BTS, Seventeen, TXT, Enhypen, Le Sserafim, NewJeans and more.

Performances from BTS and Seventeen were major drivers in pushing HYBE’s concert revenue to KRW 85bn (USD 65m) – up 38.6% quarter on quarter.

In February, BTS brought a four-night residency, called Permission to Dance On Stage, to the 65,000-capacity Allegiant Stadium in Las Vegas.

All four dates were broadcast live at the nearby MGM Grand Garden Arena, in what was dubbed a ‘live play’ event, while the final day of their residency was streamed online worldwide.

Performances from BTS and Seventeen were major drivers in pushing HYBE’s concert revenue to KRW 85bn

Seventeen, meanwhile, helped boost HYBE’s concert revenue with two dates at Seoul’s Gocheok Sky Dome (cap. 25,000) in mid-June. These performances were also livestreamed to global audiences.

However, Hybe’s biggest revenue driver in Q2 was its ‘Artist Direct Involvement’ business, which generated revenues of KRW 326bn (USD 249m), up 153.4% year on year.

HYBE’s second biggest revenue source in Q2 was album sales, driven by releases in the quarter from the likes of BTS and Seventeen.

The company’s album sales grew 97.1% YoY, from KRW 107bn (USD 82m) in Q2 2021 to KRW 211bn (USD 161m) in Q2 2022.

HYBE revenues from merchandising and licensing also soared in Q2, by 97.2% YoY, from KRW 50bn (USD 38m) in Q2 2021, to 99 bn KRW (USD 75m) in Q2 2022.

Revenues from HYBE’s ‘Contents’ business, meanwhile, fell 22.6% YoY to KRW 71bn (USD 54m). HYBE also reveals within its investor filing that Monthly Active Users of its fan-community app WeVerse fell by 6% versus Q1 2022.

The WeVerse app, which collates content made by and for HYBE artists such as music videos, teasers, movies, merch sales and even live streams, has been cited by the company as one of the key drivers behind its success during the pandemic.

In spite of seeing its WeVerse MAUs decline, HYBE’s revenues derived from its ‘Fan club etc’ business line grew 96% YoY to KRW 17bn (USD 13m).

 


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CTS Eventim: ‘Strong start to 2022 is cause for optimism’

CTS Eventim says its strong start to 2022 is cause for optimism that live entertainment will make a “robust comeback” this year.

“Concert and festival venues are finally coming back to life,” exclaims CEO of CTS Eventim, Klaus-Peter Schulenberg, as the company’s Q1 financial results are revealed.

The lifting of coronavirus-related restrictions in the company’s core markets meant that revenue in the ticketing and live entertainment segments increased substantially in the first quarter of 2022 compared with the same period of last year.

The results show that consolidated revenue improved to €139.2 million in the first fiscal quarter of 2022 (previous year: €19.6m). While normalised EBITDA (earnings before interest, taxes, depreciation and amortisation) came to €23.7m (previous year: €-19.6m).

In the ticketing segment, revenue rose to €76.5m in the first three months of 2022 (previous year: €13.5m). Normalised EBITDA was back in the black at €27.2m (previous year: €-13.4m).

“Ticket sales in April – and so far in May too – have been well above the level seen in the same period of 2019… a record year”

Revenue in the live entertainment segment improved year on year to reach €65.1m in the first quarter of 2022 (previous year: €6.8m). Normalised EBITDA amounted to €-3.5m (previous year: €-6.2m).

“We are delighted that ticket sales in April – and so far in May too – have been well above the level seen in the same period of 2019, which had been a record year,” continues Schulenberg.

“This underpins the hope that the live entertainment sector will really bounce back after an enforced two-year break due to coronavirus. The live entertainment business ramped up again in our European markets and overseas much sooner than in Germany, where coronavirus restrictions were lifted relatively late.”

The company says it received “positive news” at the beginning of this year when an arbitration tribunal decided that autoTicket – a joint venture between CTS and Kapsch TrafficCom – is entitled to claim for compensation and reimbursement of expenses from the Federal Republic of Germany.

Also in 2022, CTS announced a partnership with France Billet to provide ticketing software and related services for the 2024 Olympic and Paralympic Games in Paris. The company expects the contribution to revenue to be in the double-digit millions.

 


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DEAG on the road to recovery after strong 2021

Deutsche Entertainment (DEAG) has reported a strong fourth quarter and a significant increase in revenue and earnings in the financial year 2021.

The Berlin-based live entertainment group saw its revenue hit €91 million in 2021, up 82% from €49.9m in 2020.

In addition, EBITDA (earnings before interest, taxes, depreciation and amortisation) rose by 144% from €9m in 2020 to €22.1m in 2021.

DEAG says the increases in earnings and revenue are down to “a significant upturn in operating activities” in the second half of 2021.

The promoter and ticket agency owns businesses in Germany, Switzerland, the Republic of Ireland and the UK – which has been fully open since last summer.

“DEAG has weathered the pandemic comparatively well over the past two years, which have not been easy for the entire live entertainment industry due to Covid-19,” says professor Peter Schwenkow. “We stand on strong legs, have successfully continued our expansion course in Germany and Europe and are currently experiencing an increasing return to normal for our business activities in all our core markets and high demand for tickets for concerts and events.”

“We are excellently positioned for future growth with our broad portfolio of events and our strong financial position”

Last year, the company delisted from the stock market after 23 years as a listed company, with CEO Peter Schwenkow telling IQ that DEAG could raise more funds as a private company than on the financial markets.

The company later announced it raised more than €6m to fund future acquisitions in “key markets” such as literary events production company Fane Productions in the UK.

“We are excellently positioned for future growth with our broad portfolio of events and our strong financial position,” continues Schwenkow. “Our ticket sales are at an above-average level and we have started the current year with plenty of tailwind.

“In the UK, booking levels are already back to pre-crisis levels and in our other core markets they are approaching 2019 levels again, the year before the corona pandemic broke out. We will offer visitors hundreds of events over the next few months and set off event fireworks.”

Schewnkow recently told IQ the company was seeing a 50-80% increase in ticket sales compared to pre-pandemic.

In view of the recovery in its core markets, strong ticket sales and growth from the companies acquired in 2021, DEAG says it expects a significant improvement in EBITDA and further revenue increases in 2022.

 


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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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Endeavor shares first annual financials since IPO

WME parent company Endeavor has shared financial results for the fourth quarter, and fiscal year, of 2021 – the company’s first since going public in April 2021.

Endeavor, which also owns sports agency IMG and the Ultimate Fighting Championship (UFC), among other properties, generated revenue of US$1.5 billion for the fourth fiscal quarter of 2021 and a net loss of $16.7m.

For the full year, Endeavor generated $5.1bn in revenue but posted a net loss of $467.5m.

“In our first year as a public company, we saw significant outperformance across our portfolio as the world began to emerge from the pandemic, with increased attendance at live events and continued heightened demand for premium content,” said Ariel Emanuel, CEO, Endeavor.

“Given the unique position we occupy in the content landscape, we remain confident about our ability to continue leveraging trends, unlocking growth, and delivering long-term value.”

“In our first year as a public company, we saw significant outperformance across our portfolio as the world began to emerge from the pandemic”

The agency’s representation business (comprising WME, IMG and Endeavor Content) proved to be a bright spot for Endeavor’s financials, reporting revenue of $717.9m for the quarter, up $443.2m, or 161%, compared to the prior-year quarter. For the full year, the business was up $2bn, up 100% from the $1bn realised by the segment in 2020.

WME artists include Drake, Justin Timberlake, Adele, Bruno Mars, Pearl Jam, Kendrick Lamar, the Killers, Bjork, Frank Ocean, Foo Fighters, St Vincent, Shakira and more.

Endeavor’s Events, Experiences & Rights segment revenue topped $156m in the quarter, up 23% year over year and $2.0bn for the year, up $437.8m, or 28%, compared to the prior year – driven by the return of live events among other things.

Meanwhile, Endeavor’s owned sports properties segment reported revenue of $277.3m for the fourth quarter, up $8.3m, or 3%, compared to the prior-year quarter. For the full year, revenue for the segment was up by 16% to $1.1bn, when measured against the prior year.

For 2022, Endeavor is projecting revenue between $5.2bn and $5.45bn.

 


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