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

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.

 


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.

CTS Eventim share price climbs after Q3 results

CTS Eventim’s share price has climbed by more than 10% on the back of the company’s Q3 financial results.

Shares in the Munich-headquartered pan-European ticketing giant, promoter and venue operator increased from €46.96 last Thursday to €51.90 yesterday after the firm recorded formidable business development in both ticketing and live entertainment.

In the third quarter of 2022, sales leapt from €115 million in the Covid-hit 2021 to €694m in the current financial year, based on preliminary figures. Quarterly sales in the last pre-pandemic year of 2019 were €378m.

Normalised group EBITDA was €130m compared to €26m in the same period of the previous year and €65m in Q3 2019.

In ticketing, revenues reached €137m – more than double the €61m achieved in the third quarter of 2021 and 29% above Q3 2019’s €107m. Normalised EBITDA was €65m (previous year €27m), 44% up on the €45m recorded in the same period in 2019.

Live entertainment revenues rocketed to €563m, dwarfing the €277m generated in 2019 and the €56m in 2021. Normalised EBITDA was €66m in the third quarter of 2022 – more than three times that of the third quarter of 2019 (€20m).

“The company expects consolidated sales of at least €1.7 billion and normalised EBITDA of at least €330 million”

“The company expects consolidated sales of at least €1.7 billion and normalised EBITDA of at least €330 million,” says management in its full year forecast for 2022. “The forecast is based on the assumption that there will be no significant impairment of business development in the remaining period of 2022 due to the Covid-19 pandemic or the effects of the Russia-Ukraine war.”

The full group quarterly statement will be published on 17 November .

CTS previously revealed its revenue increased to €734.4m in the first half of 2022, compared with €65.3m in the same period of 2021.

“We are very optimistic that our industry has now finally turned the corner after two very difficult years,” said CTS Eventim, Klaus-Peter Schulenberg following the second quarter results. “We believe that CTS Eventim is ideally placed to continue seizing opportunities in order to maintain its growth trajectory.”

 


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.

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.

 


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.

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.

 


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.

CTS Eventim reports strong Q3 results

Live entertainment giant CTS Eventim has posted “encouraging” financial results for Q3 2021, powered by improved ticket sales.

The Munich-based pan-European promoter and ticketing company saw consolidated revenue rise by 279.2% to €114.7 million, compared with €30.2m in the same period last year. Revenue for 2021 to date fell 21.3% year-on-year to €180m, since Q1 2020 was barely affected by the pandemic.

Revenue from the company’s live entertainment segment soared by 351.2% to €55.7m in the third quarter of 2021 (up from €12.4m in the equivalent period last year), while ticketing surged 225.5% to €61m, compared with €18.7m in Q3 2020.

Ticket sales accelerated at the start of the second half of 2021, boosted by presales for tours by major international artists including Ed Sheeran, Genesis and Coldplay, as well as German rock act Udo Lindenberg.

Around 400,000 tickets have been sold for Sheeran’s German dates alone, the firm reports. However, the coronavirus situation meant the number of events was still down sharply compared with pre-pandemic levels.

We recorded an encouraging increase in revenue in the third quarter

“We recorded an encouraging increase in revenue in the third quarter,” says CTS Eventim CEO Klaus-Peter Schulenberg. “In recent months, we have also forged ahead with our international expansion plans and ensured that CTS Eventim is even better prepared for the future by launching new digital products.”

Normalised EBITDA was €105.4m compared to a loss of €17.7 million 12 months earlier. The firm attributes the turnaround to “cost savings, an improved operating business and the government aid programmes introduced in Germany and other countries”.

CTS received “extraordinary” Covid-19 financial aid from the German federal government for November and December 2020, with €102m in government funding awarded “to strengthen the result for the current financial year and the company’s liquidity”.

Last month, CTS strengthened its position in the access control market with the acquisition of software and hardware developer Simply-X, one of the leading providers of event management products in Germany. The firm also announced its expansion into the North American ticketing market in September.

At the time of writing, CTS’ share price was down 2.64% to €62.04.

 


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.

Eventim UK chairman to step down

CTS Eventim has announced that Nick Blackburn is stepping down from his post as chairman of Eventim UK on 30 September 2021.

Blackburn joined the British subsidiary of the pan-European live entertainment giant in June 2011, two years after it launched.

At the London-based ticketing company, Nick was responsible for Eventim’s business development in the UK and Ireland. He was previously chairman and CEO of See Tickets in the UK.

“I have enjoyed my time at Eventim which turned out to be longer than I originally expected,” says Nick Blackburn.

“I would not leave until there was a strong management structure in place which could take the company forward”

“I informed Klaus-Peter Schulenberg [CEO of CTS Eventim] of my intentions last March as by then I had introduced John Gibson and Martin Fitzgerald to the company, both now managing directors at Eventim UK, thus keeping my promise that I would not leave until there was a strong management structure in place which could take the company forward.

“I am now free to move on to consultancy work, to spend more time on an educational charity of which I am a trustee and complete some items in my bucket list especially in travel.”

Schulenberg added: “Over the past ten years, Nick has taken Eventim UK forward and strengthened its position in this important market. In addition, I would like to thank him for setting the course for the continued positive development of our company in the UK. I wish Nick all the best for his future.”

 


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.

CTS Eventim ‘optimally positioned’ for reopening

CTS Eventim’s Q2 financial results show that the company is “optimally positioned for the return of live entertainment,” according to CEO, Klaus-Peter Schulenberg.

In the period from April to June 2021, the Munich-based company’s revenue was up sharply compared with Q2 2020, primarily thanks to an uptick in ticket sales.

In the second quarter of 2021, ticketing revenue went up by 283.7%, from €9.4 million to €36.1m. Normalised EBITDA (earnings before interest, taxes, depreciation and amortisation) amounted to €77.6m (previous year: loss of €18.2m). This included around €73m in German coronavirus support.

Before the outbreak of the coronavirus pandemic, around 250 million tickets per annum were marketed using the company’s systems, which include online portals under brands such as eventim.de, oeticket.com, ticketcorner.ch, ticketone.it, and entradas.com.

The company’s live music revenue also improved in the second quarter of 2021, jumping by 81.5% year on year to €11.5m (previous year: €6.3m). Normalised EBITDA amounted to €21.4m (previous year: €1.9m). German coronavirus support contributed around €29m to earnings.

“Ticket sales are recovering, which confirms our view that people are yearning for live entertainment after the pandemic”

“Ticket sales are recovering, which confirms our view that people are yearning for live entertainment after a year and a half of the pandemic,” said Schulenberg. “However, politicians must set out a framework so that it is economically viable for events to be held again. The government support is very helpful but the industry wants to finally be able to earn its money by returning to work.”

He added: “CTS Eventim has taken the coronavirus crisis as an opportunity to further strengthen and broaden its market position by undertaking a number of major strategic initiatives. Going forward, we will be better positioned than ever before, especially internationally, to be able to impress our customers with our services, industry expertise and technology in the live entertainment business.”

During the pandemic, the pan-European live entertainment giant continued the expansion of its Eventim Live promoter network, establishing the Gadget abc Entertainment Group in Switzerlandpartnering with legendary US promoter Michael Cohl, and acquiring a majority stake in the Barracuda Group in Austria.

In 2021, CTS acquired Berlin-based promoter DreamHaus, led by Matt Schwarz, taking the network up to 36 promoters in 15 countries.

The company recently announced plans to build a new €180 million arena in Milan, northern Italy.

 


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.

CTS Eventim bolstered by €102m government aid

CTS Eventim will receive “extraordinary” Covid-19 financial aid from the German federal government for the months of November and December 2020.

The Munich-based, pan-European live entertainment confirmed that it would be receiving €102 million in government funding “to strengthen the result for the current financial year and the company’s liquidity”.

The federal government set up financial aid in order to compensate companies, institutions and self-employed people for lost sales during the months in which Germany went into lockdown.

Grants of up to 75% of sales from November and December 2019 were granted proportionally for the number of days of closure during the same months in 2020.

The funding for CTS comes after the company reported that group revenue in 2020 fell by 82.2% year-on-year to €256.8m (2019: €1,443bn). Ticketing and live entertainment were the hardest hit.

“CTS is superbly positioned when live shows return to concert halls and our business revives”

Revenue in the company’s ticketing division for the whole of 2020 was 73.7% lower year-on-year, at €126.6m (2019: €481.6m).

In the live entertainment division, revenue in the whole of 2020 was 86.1% lower year-on-year, at €136.8m (2019: €985.8m).

Despite the sharp drop in sales during 2020, Klaus-Peter Schulenberg, CEO of CTS Eventim said the company is “superbly positioned when live shows return to concert halls and our business revives”.

“In view of the increasing availability of vaccines and rapid tests, and the progress of vaccination campaigns, there are good prospects that our industry can start getting back to normal over the next few months,” he added.

Throughout 2020, the company continued the international expansion of its Eventim Live promoter network, establishing the Gadget abc Entertainment Group in Switzerland, partnering with legendary US promoter Michael Cohl, and acquiring a majority stake in the Barracuda Group in Austria.

In 2021, CTS acquired Berlin-based promoter DreamHaus, led by Matt Schwarz, taking the network up to 36 promoters in 15 countries.

 


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.

Schulenberg predicts long haul to recovery

Klaus-Peter Schulenberg believes it will take the industry until late 2023 or 2024 to get back to the same levels of business that it enjoyed pre-Covid.

The founder and leader of CTS Eventim – Europe’s largest live entertainment group and second only globally to Live Nation – made the statement during his ILMC keynote interview with conference managing director Greg Parmley.

Schulenberg was responding to a question about consumer confidence in a post-pandemic world and revealed that his company’s research indicated that 80% of people would buy a ticket three months after the end of the pandemic. But that meant 20% of people that were surveyed would not be willing to buy a concert ticket. He observed that of the company’s record-breaking sales in 2019, 39% of ticket buyers across Europe were below the age of 34; 22% were aged 35-44; and the remaining 39% were aged 44 and older.

“Reopening is not recovery”

That problem prompted his assertion that artists and agents needed to understand that they should be more modest in their demands as the industry starts to recover. Indeed, he suggested that promoters should try to persuade the artists to share in the risk of a show. “The guarantee should go down,” he said, while acknowledging that such conversations did not always find a sympathetic ear.

“Reopening is not recovery,” he told ILMC delegates. “We are now looking at reopening, but recovery would mean that fans would come back at levels of 2019 and recovery would mean that people could attend a concert care-free.

“It will take until late 2023 or 2024 to get back to the levels of 2019,” he predicted, before revealing that show costs could rise by as much as 15-20% in the short term because of the effect of the pandemic and the fact that local costs will be much higher than they used to be.

“It will take until late 2023 or 2024 to get back to the levels of 2019”

“Look at the stagehands, look at the security, service companies for light and sound and maybe even the venues will try to make up their losses which they incurred in 2020 and probably 2021 as well,” he explained.

Elsewhere, Schulenberg said the adoption of 5G technology was something his company had been working on, as they could radically change the way shows work – citing fan to fan communication and fan to artist communication within a show as possibilities. “We want to stay as a technological leader, so we have been working on new tech and new features and I am pretty optimistic in this respect,” he commented.

He also opened the doors to collaborating with rivals Live Nation and others when it comes to improving the industry’s lobbying efforts with politicians and policymakers.

“I never take competition personally”

“I never take competition personally,” he said. “We are all in the same boat and I am a fan of good partnerships – that’s how we made our business and we welcome everybody to partner with us. It’s to all of our advantage.”

But he concluded that the industry needs to understand that having a strong voice requires expenditure, although he suggested that many companies are not ready to put their money where there mouths are. “We need professional associations and we have to know that professional associations are expensive – they cost money – and the industry must be willing to invest, but I think that’s a problem,” he observed.

 


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.

CTS Eventim acquires new Berlin-based promoter DreamHaus

German ticketing and promotion giant CTS Eventim has acquired a majority stake in new Berlin-based promoter DreamHaus.

DreamHaus will be led by Matt Schwarz as CEO and managing partner, following his departure from Live Nation GSA (Germany, Switzerland, Austria) as COO and MD in February 2020.

From 1 April, Schwarz will be joined by former Live Nation GSA executive Ioannis ‘Pana’ Panagopoulos, who joins the management team alongside Marc Seemann, Claudia Schulte and Tobias Habla.

Schwarz joined forces with CTS Eventim as head of eventimpresents in January this year, tasked with “acquiring attractive national and international tours and shows,” on behalf of Eventim Live, CTS Eventim’s promoter network.

Under the Eventim Live umbrella, DreamHaus will be responsible for organising and programming the Rock am Ring and Rock im Park festivals, starting from the 2022 editions, along with eventimpresents.

The CTS-owned festivals have been co-promoted with Marek Lieberberg, now CEO of Live Nation GSA, since 2016.

“Even in the face of the challenges posed by the coronavirus pandemic, Eventim Live continues to grow its network and strengthen both its market position and potential,” says Klaus-Peter Schulenberg, CEO of CTS Eventim. “We have always claimed that CTS Eventim will emerge stronger from this crisis.”

“I am grateful to CTS Eventim for the confidence the company has shown in jointly implementing our visions within this partnership”

Matt Schwarz added: “I’m very pleased about the partnership between CTS Eventim and DreamHaus, which offers our team all manner of opportunities for a successful future. I am also grateful to CTS Eventim for the confidence the company has shown in jointly implementing our visions within this partnership and thus offering artists the best possible service and the ability to reach the greatest possible audience.”

With a combined attendance of 150,000, Rock am Ring and Rock im Park take place concurrently from 11 to 13 June at Nürburgring race track and Zeppelin Field in Nüremberg respectively.

Rock am Ring was founded by Marcel Avram and Marek Lieberberg’s Mama Concerts in 1985, while Rock im Park took place for the first time in 1995 under Marek Lieberberg Konzertagentur (MLK).

Schwarz was formerly VP of touring and festivals at MLK, before becoming MD and COO of Live Nation GSA when Lieberberg sold MLK to Eventim’s live music subsidiary Medusa Group in 2015. Schwarz resigned his position at Live Nation GSA in February this year.

The acquisition of DreamHaus expands Eventim Live’s pan-European network to 35 promoters in 15 countries.

 


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.