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CTS Eventim completes See Tickets deal

CTS Eventim has completed its acquisition of Vivendi’s festival and international ticketing businesses in a €300 million deal.

The agreement includes See Tickets and a portfolio of 11 festivals including the UK’s Love Supreme and Kite, as well as Garorock in France. Vivendi concert halls including L’Olympia concert hall in Paris, plus See Tickets France and Brive Festival, are not part of the deal.

The French firm’s ticketing and festival activities acquired by CTS collectively produced €137 million in revenues in 2023. The ticketing division generated roughly €105m of that, with an EBITDA of €26m.

The UK market was responsible for the largest share of the revenues, followed by the US, while the festival business generated an additional €32m in revenues. Vivendi bought See Tickets for €96m in 2011. The UK-headquartered ticketing company, which operates in nine countries worldwide, sold around 44 million tickets in 2023.

The companies say the transaction offers new development opportunities to Vivendi’s festival portfolio and See Tickets’ international activities, while ensuring maximum continuity for all their partners. Both See Tickets and the festival business will retain their existing identities and management.

A put option agreement was signed on 2 April.

“The acquisition supports our internationalisation strategy and will also benefit artists and their managers, as we will be able to offer even more seamless services on a global scale”

“With See Tickets and its festival operations, Vivendi has established two notable players in the ticketing and live entertainment sector,” said CTS CEO Klaus-Peter Schulenberg at the time. “I’d like to thank Vivendi for the productive negotiations, which have created a strong foundation for success in an industry enjoying robust growth across Europe.

“The acquisition supports our internationalisation strategy and will also benefit artists and their managers, as we will be able to offer even more seamless services on a global scale. We look forward to collaborating with our new colleagues on shaping the future of live entertainment.”

Pan-European giant CTS’ share price currently sits at €80.45 and is up 28% for the year to-date. The German-headquartered company was among several parties to register interest in buying See Tickets, along with AEG.

In its recently published financial results for Q1 2024, CTS posted consolidated revenue of €408.7m, up 11.6% year-on-year. Ticketing revenue climbed by 23.3% year-on-year to €182.8m, while adjusted EBITDA rose by 24.9% to €83.3m. It acquired Punto Ticket and Teleticket, market leaders in Chile and Peru, respectively, in late 2023.

CTS, which recently confirmed its 18th record year of revenue since its IPO in 2000, also recently secured ticketing deals for several international handball tournaments and was appointed official ticketing service provider for the 2028 Olympics and Paralympics in partnership with AEG’s AXS.

 


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CTS Eventim EVP steps down after 26 years

CTS Eventim’s executive vice president and general counsel Rainer Appel is leaving the company at the end of March, after 26 years.

Following his departure, the long-serving executive will transition to an advisory role at the German live entertainment firm.

His position as non-executive director for the Italian subsidiary TicketOne and for the Eventim Apollo in London will not be affected.

Arne Fritz, vice president venues & real estate, will take over Appel’s venue business. Tilman Wink will assume the role of general counsel and head of the legal department from 1 April.

“I am extremely grateful to Rainer for his loyalty, his tireless dedication and the excellent collaboration that has connected us for more than a quarter of a century. CTS Eventim has grown tremendously during this time, and Rainer always kept his eye on the big picture, without losing sight of the important details. So I’m delighted that he will continue to work with us in an advisory role. I wish Rainer the very best for this new phase of life,” says Klaus-Peter Schulenberg, CEO, CTS Eventim.

“I am extremely grateful to Rainer for his loyalty, his tireless dedication and the excellent collaboration”

Appel adds: “After nearly 26 years of making CTS Eventim my priority, it’s now time for me to focus more on my personal life. I was lucky to experience an incredibly exciting phase in the evolution of a wonderful company and I am deeply thankful to Klaus for the trust he put in me. I am also grateful to my colleagues, everyone at CTS Eventim, and the countless other outstanding people I had the honour of working with over so many years.”

After joining the company in 1998, Appel was actively involved in the growth of the CTS Eventim group. Alongside his role as general counsel, he took responsibility for many other areas of the business, including corporate communications and international business development.

Over the past 16 years, Appel established and grew CTS Eventim’s venue division, which today includes some of the best-known and most popular event venues in Europe.

Appel also drove forward the planning and construction of the largest and most sustainable multifunctional arena in Italy, Arena Santa Guilia, which will be completed in late 2025.

In the past fortnight, CTS Eventim has enjoyed several milestones including its 18th record year of revenue since its IPO in 2000 and its highest-ever share price, which today peaked further at €82.20.

 


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CTS proposes record dividend after bumper year

After its share price reached an all-time high last week, CTS Eventim has confirmed its 18th record year of revenue since its IPO in 2000.

CTS’ share price, which peaked at a record €78 last week, stands at €75.95 at press time.

As previously announced, the pan-European ticketing and live entertainment giant’s annual revenue was up 22% in 2023, surpassing €2 billion for the first time to reach €2.359bn, while normalised EBITDA increased at 32% to reach €501.4 million.

The company’s board will propose to distribute €137.3m in dividends to shareholders at the firm’s 14 May meeting – the highest dividend in its history. The figure equates to 50% of net income or €1.43 per share (previous year: €1.06 per share).

“These excellent results are proof that live entertainment is once again driving the arts and creative sectors,” says CTS chief Klaus-Peter Schulenberg. “We owe this primarily to the creativity of the artists who delight their fans around the world day in, day out. It is also thanks to the countless promoters who, with their boldness and entrepreneurial spirit, stage events and create unforgettable experiences.

“And last but not least, our team and our technologies ensure that live cultural events can thrive and that everyone involved can make a living from their work. Our platforms and systems are synonymous with performance and reliability – as are the company itself and everyone who works here.”

Ticketing, up 32% to €717.3m, was the main driver thanks to demand for tours by the likes of Taylor Swift, Rammstein, Apache 207, Bruce Springsteen, Coldplay and Paul McCartney.

The German-headquartered firm is projecting a moderate rise in total revenue in 2024

“Economies of scale resulting from the shared use of centralised infrastructure helped to increase the margin,” adds a press release.

CTS partnered with Sony Music Latin Iberia to acquire Chile’s Punto Ticket and Peru’s Teleticket last November. However, the full effect of these acquisitions will only be seen in earnings this year as they have only been included in the scope of consolidation since mid-November.

Meanwhile, revenue from its live entertainment segment rose 19% to €1.677bn in 2023, with a key focus in 2023 being the expansion of its business in North America via its JVs with Mammoth Inc and AG Entertainment Touring. Last December, it also joined forces with US promoter Walter McDonald to establish boutique live entertainment company The Touring Co. in North America.

The German-headquartered firm is projecting a moderate rise in total revenue in 2024 and expects earnings to keep pace with 2023 levels.

In addition, CTS’ venue portfolio, which includes Waldbühne in Berlin, Cologne’s Lanxess Arena and London’s Eventim Apollo, among others, will be expanded at the end of 2025 with the 16,000-cap multi-purpose Arena for Milan in Italy.

 


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Groundbreaking for CTS Eventim’s new Milan venue

A groundbreaking ceremony has been held for CTS Eventim’s 16,000-cap multi-purpose arena in Milan, Italy, which remains on track to be completed by the end of 2025.

Eventim CEO Klaus-Peter Schulenberg, Milan’s Mayor Giuseppe Sala, and architect Sir David Chipperfield launched the above-ground construction phase on the €180 million Arena for Milan yesterday (28 November).

The project, designed by Sir David Chipperfield and the international design firm Arup, is being positioned to “strengthen Milan’s standing as a global centre of culture, entertainment, and sporting excellence”, while raising “the bar for live entertainment venues”.

“This groundbreaking ceremony marks the next step of an extraordinary journey for Italy’s live entertainment scene,” says Schulenberg. “We extend our sincere thanks to Mayor Sala for his support and dedication to this project. Together with David Chipperfield and Arup, we envision this new landmark as a cultural and sporting hub that will showcase Milan to the world.

“The new arena also aligns perfectly with our venue strategy. Our extensive expertise in managing venues of this caliber will ensure it integrates seamlessly into Milan’s cultural landscape and Eventim’s global live entertainment and ticketing network.”

The venue also promises to reflect Milan’s commitment to sustainability and a greener future via an “innovative design, energy-efficient systems, and responsible resource management”.

“We have worked closely with CTS Eventim and David Chipperfield to design a spectacular venue which has been conceived with ambitious energy efficiency and sustainability targets”

“We are really excited to celebrate this important milestone to launch the project toward its completion,” adds Arup project director Giammichele Melis. “We have worked closely with CTS Eventim and David Chipperfield to design a spectacular venue which has been conceived with ambitious energy efficiency and sustainability targets. Our current statutory site
supervision role gives us the opportunity to keep supporting CTS Eventim and the whole team to see this project through.”

Initially, the arena – part of the Milano Santa Giulia urban development project – will be used for the 2026 Winter Olympic and Paralympic games after which CTS will continue to operate it.

The venue will compete with the existing 12,700-seat Mediolanum Forum in Assago, near Milan, which has served the city since 1990 and is one of two Italian members of the European Arena Association (EAA). An older open-air venue, the 10,000-capacity Arena Civica, which opened in 1807, is also capable of hosting concerts, as is the 80,000-cap. San Siro stadium.

Eventim’s venue portfolio also includes the Lanxess Arena (cap. 18,000) in Cologne, the KB Hallen (4,500) in Copenhagen, the Waldbühne (22,290) in Berlin and the Eventim Apollo (2,500) in London.

Tours by superstars including Taylor Swift, Paul McCartney and Coldplay helped drive Eventim to strong growth in the first nine months of 2023. Last week, the firm announced it had acquired Punto Ticket in Chile and Teleticket in Peru via its JV with Sony Music Latin Iberia.

 


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CTS Eventim revenues hit €1.75bn for year-to-date

Tours by superstars including Taylor Swift, Paul McCartney and Coldplay helped drive CTS Eventim to strong growth in the first nine months of 2023.

The Munich-headquartered pan-European giant’s latest financial results showed revenues of €729.3 million for Q3 2023 – up 5% year-on-year – and €1.75 billion for the year to date, which marks 23% increase on the same period last year.

The group’s normalised EBITDA advanced to €172.5m for the quarter (up 29%) and €343.3m for January to September 2023 (up 34%), with “prudent cost management and significant agility” also contributing to the “excellent results”.

“CTS Eventim offers extremely attractive content in almost all live entertainment segments and has unparalleled reach among fans of music, sport, edutainment and other live formats in Europe and beyond,” says CTS CEO Klaus-Peter Schulenberg. ‘Thanks to the global integration of our technologies and marketing platforms, we’re ideally positioned to monetise both our content and reach while offering fans a unique live experience that starts with their ticket purchase.”

Ticketing revenue for the nine-month period leapt 36% year-on-year to €459.3m, with the number of online tickets sold rising by 11.6 million compared with the previous year. The figures do not yet include the revenue of France Billet, which is due to be fully consolidated at the start of 2024. CTS increased its stake in the French market leader earlier this year.

“France Billet is a strong player and once it has been fully consolidated, we expect that it will provide another boost to our business”

“As part of our strategy of international expansion, we have already integrated the French market leader, France Billet, into our operations,” adds Schulenberg. “France Billet is a strong player and once it has been fully consolidated, we expect that it will provide another boost to our business. And once again, Christmas trade will also have a positive impact on our net profit for the year.”

Revenue for the live entertainment segment also jumped, increasing by 19% to €1.315bn in the first three quarters of 2023. CTS considers that result a “particular success” as the figures for the equivalent period of 2022 were boosted by government subsidies “running into the mid-double-digit millions”.

The executive board still expects the group’s overall revenue for 2023 to be “significantly higher” than €2bn, with normalised EBITDA at well above €400m.

“CTS Eventim has an excellent line-up of concerts and events for the fourth quarter, which will again generate a healthy level of revenue, especially in the context of Christmas trade,” concludes the firm.

 


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CTS Eventim projects €2bn+ revenue for 2023

Pan-European live entertainment giant CTS Eventim is projecting group revenue in excess of €2 billion for 2023 after delivering a strong quarter led by its ticketing division.

The company credits impressive presales for tours by acts such as Taylor Swift and Peter Maffay, along with the volume and variety of events on offer, for driving a 35% rise in year-on-year ticket sales for the first nine months of this year.

The German ticketing segment witnessed growth of 43%, with the firm’s global network also up 31% in the same period.

Following the release of its preliminary Q3 figures, CTS now expects “the group’s revenue for 2023 as a whole to be significantly higher than €2 billion”, with normalised EBITDA of “well above €400 million”.

“This means that operating profit for 2023 will be up sharply compared with the prior-year figure, which itself had been at a high level thanks to catch-up effects resulting from the pandemic,” adds a company statement. “The forecast is based on the assumption that there will be no substantial negative effects on current or future business performance during the remainder of 2023.”

CTS announced it had surpassed €1bn revenue within the first six months of a financial year for the first time

The group’s full quarterly statement for the period ending 30 September 2023 will be published on 21 November. Its share price was down slightly to €55.35 this morning.

In its previous set of financial results covering H1 2023, released in August, CTS announced it had surpassed €1bn revenue within the first six months of a financial year for the first time. The German-headquartered business reported growth across all segments for January to June 2023, with revenue in its ticketing division climbing 41% year-on-year to €284.6 million.

Earlier this week, CTS appointed experienced manager, architect and project developer Arne Fritz to the newly created role of VP venues & real estate. Fritz, who will report to Eventim CEO Klaus-Peter Schulenberg, will take over some tasks from EVP Rainer Appel, who is planning to gradually move into a consulting role next year.

Fritz’s responsibilities will include strategically developing CTS’ real estate portfolio to “sustainably strengthen its value chain” as well as overseeing the construction of the firm’s €180 million multi-purpose Arena for Milan in Italy.

 


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Ticketing: Demand for change

The latest edition of the International Ticketing Report (formerly the International Ticketing Yearbook) is now available in print, digitally, and on the dedicated year-round mini-site. Check out a key chapter below…

From the US president’s call for reform to frustrated fans being increasingly vocal about not getting tickets for high-demand shows, there’s never been so much scrutiny on the ticketing industry. With significant change on the horizon in the USA, what’s the broader impact worldwide?

Ticketing has long been a dynamic and fast-moving sector of the live entertainment industry. But it’s been quite some time since things were as heated as they have been in the last 18 months.

Media reports have been rife with topics such as the dynamic pricing of Bruce Springsteen’s tour and frustrated people unable to see one of Taylor Swift’s Eras tour dates.

Then, there’s been the involvement of the US president, Joe Biden, who’s been determinedly campaigning against hidden fees.

The largest ticketing company in the world, Ticketmaster, has long been campaigning for legislation on this issue.

The company’s global president Mark Yovich tells us: “Ticketmaster has shown all-in pricing for many years in a number of territories outside the US, as required by consumer law. Today we operate in over 30 countries and more than two- thirds of those display all-in pricing. We know it’s a better experience for fans and have long advocated for this in countries where it is not mandated. We also give fans in those markets a toggle to see prices including fees upfront.

“In the US, the industry noise is getting louder, and we are hopeful federal legislation is finally in sight, which would be great news for fans. Enforcement will be key to its success, as we have seen unscrupulous sites appearing in search results with misleading pricing even in the US states where all-in pricing is now law.”

“It’s a competitive industry, and we see other ticketing companies trying to win purchases by advertising the lowest ticket price possible – prices that exclude the fees”

Clarity on fees is also supported by Germany-headquartered global giant CTS Eventim. CEO Klaus-Peter Schulenberg says: “We fully support the goal of giving consumers maximum transparency, particularly on ticketing fees.”

“The president’s commitment to scrap junk fees is a huge step forward for a more enjoyable, more equitable live experience,” DICE CEO Phil Hutcheon told IQ in June. “DICE has always had upfront pricing, and it leads to more fans going out more often and ensures everyone can access the artists they love.”

The stumbling block to a wider roll-out of all-in pricing is that without legislation, the competitive nature of the industry will mean companies who are using fully transparent pricing could lose out to those that don’t. This would leave consumers confused and mean the firms that enact all-in costs could lose traffic to those that aren’t.

“It’s a competitive industry, and we see other ticketing companies trying to win purchases by advertising the lowest ticket price possible – prices that exclude the fees,” says Yovich. “This even happens in states in the US that currently mandate all-in pricing. Where Ticketmaster uses all-in pricing, we show the total price upfront. The discrepancy across platforms makes it impossible for fans to gain the full benefits of comparison shopping.”

He says Ticketmaster wants to see the law changed around the world, to create a level playing field.

“In the ticketing industry, what happens or what’s developed in North America is usually implemented internationally”

What happens in the US often reverberates across the rest of the world. If the US federal government legislates that ticket prices have to reflect the final cost upfront, then will those countries that don’t currently do that follow suit?

“In the ticketing industry, what happens or what’s developed in North America is usually implemented internationally,” says ticketing consultant Tim Chambers. “But will increased government regulation of ticketing or intervention by regulatory authorities follow suit? I’m not sure.

“Ultimately, governments are loath to regulate ticketing. They’ll provide guidelines, but they prefer self-regulation.”

Much of this debate played out in the media after two major on-sales: Bruce Springsteen’s 2023 tour, which drew ire from fans after some tickets reached more than $5,000 due to dynamic pricing, and Taylor Swift’s Eras outing. Presale chaos for her US dates was blamed on a cyberattack by ticket scalpers, who run bots. Although bots were banned in the USA in 2016 and the UK in 2018, they continue to be an issue on all hot tours around the world.

Yovich says the company continues to invest in its anti- bot tools, but adds it wants to see effective, enforceable legislation. “The financial incentives are incredibly high, and penalties are far too low to deter their use.”

“One of the most important factors is definitely how reliable our systems are, even when handling high or extremely high traffic”

Demand for Swift tickets in Australia was so high that at one point there were 4m people on Ticketek’s website at the on-sale – 20% of the country’s population.

“The bot attacks reached about 300m on the first day,” says Cameron Hoy, managing director, Ticketek, and chief digital officer at TEG, the Australia-based firm with ticketing brands across Australasia and the UK. “The resources that it takes to deal with those things are considerable.”

He says the number of attacks from bots is so high because the computer programs are openly being sold on major online sites, so they’re very easy for even novices to acquire and use.

Being able to handle such high levels of demand is crucial for the fan experience, and as such, reliable tech is a key focus for CTS Eventim, as Schulenberg says: “As a technology leader in our market, we strive to offer the best and most powerful solutions in every respect.

“One of the most important factors is definitely how reliable our systems are, even when handling high or extremely high traffic. And our commitment to effectively tackling abuse and fraud – such as using illegal bots. Our EVENTIM.Pass app provides digital-only tickets, which benefits promoters and fans by putting an end to unauthorised ticket resales.”

“We’re lucky to work in a space that’s filled with so much passion”

Ultimately, though, people’s post-Covid desperation to see the hottest concerts, fuelled by a strong sense of FOMO, means there will never be enough tickets for everyone. Social media amplifies their disappointment, with ticketing firms the target of their ire.

Yovich says: “We spend so much time at Ticketmaster pioneering new technologies and refining the fan experience to manage expectations, such as advanced smart queues that provide real-time position status and inventory updates; ticketing that avoids queues altogether through our Request system; and interactive seat maps and ‘view from seat’ options that help fans make informed decisions. There is so much more we are working on that will continue to remove friction.”

TEG’s Hoy says: “How do artists, ticketing companies, and the rest of the industry come together to manage super-high demand on-sales, when we know there is more demand than tickets? One answer could be to run a ballot. I know one of the reasons promoters might feel disinclined to do that is they’re unsure if it will be as hot as people think, but as an industry we can work together to solve this.”

And he says that while ticketing companies often need a thick skin to deal with fans’ disappointment, sometimes the amount of vitriol online can be difficult to handle. “We’re lucky to work in a space that’s filled with so much passion, and we
get to connect people with things that they love. And that’s a privilege in many respects. But there are some days when it can be pretty rough.”

Another reform Hoy would like to see around the world is making ticketing accessible for everyone. “As the world becomes more aware of the significant array of accessibility needs beyond that of mobility, we need a more equitable online purchasing process. The purchase experience should be the same for all members of the community, whether or not they have accessibility needs. That requires the whole industry working together to make sure that from the outset we’ve built the right technology and user interfaces to enable and cater for all needs but also that venues ensure there’s an appropriate amount of inventory available and communicated.”

“AI will revolutionise many of our processes – and it’s already doing so”

Looking to the future, Hoy says AI and machine learning (ML) will play an increasingly important role in the future. “We’ve been doing a lot of work with our data science team for ten years, meaning we can do much more in terms of predictive modelling to help promoters and venues understand demand curve; help inform their investments in particular acts and artists; and to help inform operational delivery, service delivery, and other things.

“I’m really proud of the work that we’ve been doing in building out a data science team that sits in the very centre of our ticketing company. Ticketing businesses are in a uniquely advantaged position to be leveraging AI and ML technologies given the wealth of data generated in the process of delivering our services. We are very focussed on investing further in this space to unlock value for both customers and clients.”

AI is an important part of the work that CTS Eventim does, too, says Schulenberg. “AI will revolutionise many of our processes – and it’s already doing so. It will help us analyse the huge volume of data we’ve aggregated so we can make our recommendations even more accurate and our sales platforms even more powerful. It will help guide marketing campaigns for our partners and support us in refining our after-sales service. With AI, we’ll be able to react faster, better, and more intelligently than ever before – especially with high volumes and short-notice projects. We began engaging with AI a while ago so that we could give our partners access to the best, most powerful tools on the market at any time.”

The rapid pace of change in the ticketing industry shows no sign of slowing up. And with improvements for all ticket- buyers high on many companies’ agendas, the coming 12 months are likely to be as dynamic as the last.

 


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CTS Eventim appoints venues & real estate VP

CTS Eventim has appointed experienced manager, architect and project developer Arne Fritz to the newly created role of VP venues & real estate.

Fritz, who will report to Eventim CEO Klaus-Peter Schulenberg, will take over some tasks from EVP Rainer Appel, who is planning to gradually move into a consulting role for the German-headquartered company next year.

As well as overseeing the construction of the firm’s €180 million multi-purpose Arena for Milan in Italy, alongside the business of the existing venues, Fritz will strategically develop CTS’ real estate portfolio to “sustainably strengthen its value chain”.

“I’m delighted that we’re welcoming another successful and dynamic leader into our team,” says Schulenberg. “Arne will contribute significantly to our future strategy, with which we aim to increasingly diversify our business areas while also offering our artists and business partners an even higher quality of international services from a single provider.”

“I’m grateful to Klaus and the entire team for putting their trust in me, and I’m delighted to be part of the Eventim family”

After graduating in architecture, Fritz spent eight years working in a firm specialising in architecture, project development and property sales in Münster, before moving to real estate consulting specialist Drees & Sommer.

Latterly serving as associate partner and head of sports and entertainment, Fritz worked on projects such as the reorganisation and construction of the Elbphilharmonie concert hall in Hamburg, Hamburg’s application for the Olympic Games, and numerous other projects for sporting venues, stadiums, and event venues.

“I’m grateful to Klaus and the entire team for putting their trust in me, and I’m delighted to be part of the Eventim family,” says Fritz. “With our existing and upcoming venues, we offer artists, promoters and fans the highest level of service and entertainment.”

 


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CTS Eventim reaches €1 billion revenue milestone

CTS Eventim has announced it has surpassed €1 billion revenue within the first six months of a financial year for the first time.

The pan-European giant’s H1 2023 results showed €1.021bn in consolidated revenue, up 39% year-on-year, part of which is attributed to the lifting of Covid restrictions. However, revenue was also up 47% on the pre-pandemic year of 2019.

The German-headquartered company reported growth across all segments for January to June 2023, with revenue in Eventim’s ticketing division climbing 41% year-on-year to €284.6 million. Online ticket sales increased 23% on the same period 12 months earlier. Normalised EBITDA rose by 48% to €122.3m. Its core markets in Germany, Italy and Austria remain the biggest growth drivers.

Revenue in the live entertainment segment reached €751m (up by 39%), while normalised EBITDA for the segment improved to €48.5m (up 21%). In excess of €50m was generated in the US in the first half of 2023, with revenue for the year as a whole expected to top €100m. Highlights for the first half of the year included tours by Hans Zimmer and Pink, as well as international sporting events such as the World Athletics Championships.

“In the first half of this year, CTS Eventim has demonstrated great flexibility and entrepreneurial ingenuity on all fronts”

“The breadth and depth of our portfolio and the successful internationalisation of our business are the key drivers of our strong and stable growth,” says CEO Klaus-Peter Schulenberg. “After the market distortions caused by pandemic-related catch-up effects, we are now back to ‘business as usual’ at CTS Eventim. And ‘as usual’ for us means healthy organic growth and the development and expansion of new and existing business segments.

“In the first half of this year, CTS Eventim has demonstrated great flexibility and entrepreneurial ingenuity on all fronts, enabling us to successfully navigate current macroeconomic challenges and stay on track for healthy growth. All relevant key figures confirm that both the wider market and our group continue to perform at higher levels than before the pandemic.”

The group’s normalised EBITDA reached €170.8m for the first half of 2023 (up by 39% year-on-year) and €94.8m for the second quarter of 2023 (down 5% year-on-year), although earnings in Q2 2022 were boosted by government subsidies of around €25 million under pandemic-related economic aid programmes.

The H1 figures do not include the presale for Taylor Swift’s The Eras Tour – comfortably the top seller for the current year – which did not happen until July. CTS’ executive board says expects both revenue and normalised EBITDA to increase in 2023 overall compared with 2022.

The company’s share price had dipped by around 1% today (24 August), standing at €57.40 at press time.


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CTS Eventim breaks ground on new Milan arena

CTS Eventim has finally broken ground on its new €180 million multi-purpose arena in Milan, northern Italy.

The German live entertainment giant has commissioned TREVI with the first construction phase of the Arena Santa Giulia in Milan, almost a year after it was due to begin.

The 16,000-capacity arena, projected to be finished in two and a half years, will be one of the largest in Italy and will also include an outdoor area of more than 10,000 square metres for open-air events.

“We are now looking forward to the next phase of construction,” says CTS Eventim CEO Klaus-Peter Schulenberg. “TREVI has decades of experience with this type of specialised foundation work, which will ensure a successful start to the arena’s construction. Together, we aim to create a high-quality events venue in Italy that will transform Milan into an attractive hub for the sports and entertainment industries with a global reach.”

“We aim to create a high-quality events venue in Italy that will transform Milan into an attractive hub for sports and ents”

Initially, the arena – part of the Milano Santa Giulia urban development project – will be used for the 2026 Winter Olympic and Paralympic games after which CTS will continue to operate it.

The venue will compete with Oak View Group and Live Nation’s Santa Giulia Arena – which will also be utilised in the Olympics – as well as the 12,700-seat Mediolanum Forum in Assago, near Milan, which has served the city since 1990 and is one of two Italian members of the European Arena Association (EAA).

An older open-air venue, the 10,000-capacity Arena Civica, which opened in 1807, is also capable of hosting concerts, as is the 80,000-cap. San Siro stadium.

CTS Eventim’s venue portfolio also includes the Lanxess Arena (cap. 18,000) in Cologne, the KB Hallen (4,500) in Copenhagen, the Waldbühne (22,290) in Berlin and the Eventim Apollo (2,500) in London.

 


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