CTS Eventim chief Klaus-Peter Schulenberg has hailed the company’s international acquisition strategy after confirming record earnings for 2024.

The German-headquartered ticketing and live entertainment giant reported consolidated revenue of €2.809 billion for the year – up 19.1% – alongside adjusted EBITDA of €542.2 million, a 21.9% increase.

Its ticketing segment jumped 22.7% to €879.9m, with adjusted EBITDA ascending 21.1% to €416.5m, boosted by the additions of See Tickets and France Billet, plus Chile’s Punto Ticket and Peru’s Teleticket, to its portfolio over the 12-month period.

“Besides the consolidation of revenue and earnings, these acquisitions will give rise to further positive synergies in future,” says the firm, whose live entertainment strand posted revenue of €1.971bn (+17.6%) in 2024, with adjusted EBITDA of €125.6m (+24.4%).

CTS attributes the success of the division to “the strong local content of national and international promoters”, as well as the “successful operation of several iconic European venues”.

Hit productions included Eventim Live’s Elf The Musical, Formula 1 and Harry Potter touring exhibitions and David Gilmour’s tour of Italy and the US.

“Rising demand, organic growth, ongoing synergies and a successful international acquisition policy are the pillars of our robust growth”

“Rising demand, organic growth, ongoing synergies and a successful international acquisition policy are the pillars of our robust growth,” says Schulenberg. “We have ensured that – in addition to our technologies – our processes and business models are becoming great exports. They are the basis on which we will integrate future acquisitions even more quickly, realise synergies even sooner and enhance our success and attractiveness as a partner for international acquisitions and equity investments.”

CTS’ Arena Milano project in Italy is due to be completed at the end of this year, and the firm was also awarded the contract to build and operate a planned new multipurpose arena in Vienna, Austria, last November.

“Against a backdrop of stable macroeconomic conditions, CTS Eventim is anticipating a moderate rise in both total revenue and adjusted EBITDA in 2025,” concludes the company.

In view of the results, the CTS board is planning a to distribute a record €159.3m in dividends – €1.66 per share to shareholders.

CTS’ share price was flat at just over €100 at press time, giving the firm a market cap of €9.63bn.

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CTS Eventim reported revenues in excess of €2 billion for the first nine months of 2024, but its stock took a tumble amid mixed Q3 results.

The German-headquartered live entertainment and ticketing firm generated €2.027bn (up 16% year-on-year) and adjusted EBITDA of €322.7m (+12.1%) – both record highs for the first three quarters of the year.

In Q3, group takings increased 13.1% y-o-y to €825m, with its ticketing segment up 18.3% to €206.6m and live entertainment rising 11.4% to €628.4m. Top-selling shows included Ed Sheeran, Iron Maiden, Gilberto Gil and Vasco Rossi.

However, adjusted EBITDA for the group was down 8% to €120.6m in the quarter, compared with the same period in 2023. Ticketing grew 2.1% to €84.1m by the same measure, but live entertainment fell 25% to €35.6m.

“While CTS reported good top-line growth, profitability in the third quarter was disappointing, particularly in live entertainment,” analyst Oliver Wojahn, of mwb research told Reuters.

For the full nine-month period, its live entertainment division advanced 13.6% to €1.494bn. But adjusted EBITDA dipped 3% to €82.1m. CTS cited factors including “persistently high cost pressures for promoters”, as well as “integration expenses” related to its See Tickets deal, for the decline. The ticketing segment climbed by 22.9% year-on-year to €564.6m “primarily attributable to a diverse content portfolio”, while adjusted EBITDA rose by 18.4% to €240.7m.

“CTS Eventim is continuing to deliver stable growth in an increasingly volatile political and economic environment”

The pan-European giant saw its share price – which topped €100 for the first time last month – slide as much as 14% today (21 November) after opening at €85, before rallying to €82.35 (8% down) at press time.

Nevertheless, the stock is up 32% for the year to-date, and the company says it remains on a “stable growth trajectory” despite “increasingly challenging” economic conditions, describing upward pressure on costs as “still stubbornly high”.

“CTS Eventim is continuing to deliver stable growth in an increasingly volatile political and economic environment,” says CTS CEO Klaus-Peter Schulenberg. “The strategy of boosting rapid expansion and making the portfolio more financially resilient has proved to be key to our Group’s long-term performance.

“In the third quarter, factors such as the acquisition of See Tickets, the merger of two strong event companies and the performance of both our Eventim Group and our venue activities enabled us to lay strong foundations for our Group’s long-term success.”

In addition, CTS notes that presales for the 2025 anniversary editions of Germany’s Rock am Ring and Rock im Park have “made an exceptionally strong start”, and says the expansion of the Eventim Live Group in Asia is “continuing to progress”.

Furthermore, it adds the recent merger of Peter Rieger Konzertagentur with DreamHaus “will create substantial synergies” and also references its arena projects in Milan and Vienna.

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Ticketing and live entertainment giant CTS Eventim has appointed eBay Europe co-founder Karel Dörner to its management board as chief technology officer (CTO).

Dörner, who previously led McKinsey Digital Labs in Western Europe, will take up the newly created position on 1 January. His responsibilities will include the ongoing digitalisation of the ticketing company’s business processes and the further development of its data-driven business models.

He will also oversee the technological evaluation and integration of new Group members, as well as the “extensive implementation of generative AI as a key component of the company’s future success”.

“I’d like to extend a warm welcome to Karel on behalf of the entire management board,” says CTS CEO Klaus-Peter Schulenberg. “I’m very much looking forward to working with him. With his proven expertise and his entrepreneurial skills, Karel is a valuable addition to our management team. He will bring fresh impetus to the company and, together with all our employees, ensure that thousands of promoters and millions of fans worldwide will be able to continue relying on our ticketing services every day.”

Dörner will assume responsibility for the Group’s technology-focused units: IT, product, and information science, with his addition to the board part of the firm’s “dynamic national and international growth trajectory”.

“CTS Eventim is a global player with big ambitions”

“I’m grateful to the supervisory board for putting their trust in me, and to Klaus for his support,” says Dörner. “I’m excited to get started in this new role. CTS Eventim is a global player with big ambitions. Together with my future team, I’ll be working to further strengthen the technological foundation for the company’s continued growth, to bring innovative ideas to market, and to make our systems more user-friendly for both our B2B customers and the fans over the long term.”

The German-headquartered company adds that with the expansion of the top management team, COO Alexander Ruoff, who is currently responsible for IT and product, will have “more time to intensify his focus on the company’s extensive international development”.

“I’m delighted that Karel is joining CTS Eventim as the new CTO,” adds supervisory board chair Dr Bernd Kundrun. “He will help strengthen our technological foundation for even more dynamic growth.

“The supervisory board thanks Alexander Ruoff for his outstanding work overseeing technology these past years. Through his leadership, the CTS Eventim system landscape has become the industry’s undisputed benchmark for performance and reliability. Now relieved of these duties, Alexander will be able to once again focus his energy fully on other crucial areas such as expanding our global activities.”

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CTS Eventim’s Peter Rieger Konzertagentur (PRK) and DreamHaus are merging to form a combined company, PRK DreamHaus.

CTS has announced its German subsidiaries are pooling their strengths to “create additional synergies, optimise management structures and drive growth even more effectively”.

The new firm will be led jointly by Klaus-Peter (Matze) Matziol and Matt Schwarz, the current managing directors of Cologne-based PRK and Berlin-based DreamHaus, respectively, with Tobi Habla to be appointed as an additional MD. The sites and existing teams will remain unchanged.

“The merger between PRK Peter Rieger Konzertagentur and DreamHaus will optimally position the company so that it can continue growing and sustainably strengthen its live entertainment presence within a challenging market environment,” says CTS CEO Klaus-Peter Schulenberg. “With the combined expertise and dedication of both teams, we are ideally equipped to seize new opportunities and invest maximum energy in developing the newly merged company. I wish Matze, Matt and their teams the very best for this new phase.”

Schwarz and Matziol will work together closely to share their knowledge and continue driving future growth.

“This strategic transition should ensure that, even when Matziol steps down at a later date, the subsequent changes will occur seamlessly”

“This strategic transition should ensure that, even when Matziol steps down at a later date, the subsequent changes will occur seamlessly and in a future-focused way for the company, the artists and the partners,” adds the company.

PRK was founded in 1983 by Peter Rieger and has been led by Matziol since 2015. Rieger passed away in 2017 aged 63. CTS has been the majority stakeholder in the company – which has promoted acts such as David Bowie, P!nk, Cher, U2, Prince, the Rolling Stones, Whitney Houston, Tina Turner and Paul McCartney – since 2000.

DreamHaus was founded by former Live Nation GSA MD/COO Schwarz in 2021 as a subsidiary of the CTS Eventim Group. It stages Germany’s Rock am Ring and Rock im Park festivals, and has worked with international artists including Green Day, Slipknot, Måneskin and Muse.

CTS share price rose slightly today (19 September) to €87.35, giving the firm a market cap of €8.39 billion.

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CTS Eventim’s share price has soared to an all-time high after the company raised its guidance for 2024 in light of its “excellent” Q2 financial results.

Shares in the German-headquartered giant jumped more than 7% to a new peak of €91.15 on the back of the figures, which included its recently acquired festival and international ticketing businesses from Vivendi for the first time. The deal, which concluded in June, includes See Tickets and a portfolio of 11 festivals including the UK’s Love Supreme and Kite, as well as Garorock in France.

Consolidated revenue for the second quarter was up 21.2% year-on-year to €793.6 million, almost doubling the 11.6% growth it achieved in Q1. Adjusted EBITDA grew at an even faster rate than revenue, rising 23.3% to €110m.

For the first six months of the year, consolidated revenue came to €1.202 billion (+17.7%) and adjusted EBITDA amounted to €202.2m (+28.9%).

“We will achieve further growth this year, both organically and through a successful acquisition”

“Our performance in terms of growth and earnings has been excellent in the second quarter of 2024,” says CEO Klaus-Peter Schulenberg. “As announced, we will achieve further growth this year, both organically and through a successful acquisition. Through See Tickets and its associated live entertainment activities, we have not only enhanced our market position in two of our focus markets – the UK and the US – but also expanded our team to include additional highly motivated and highly qualified units.

“Combined with the innovative technologies and solutions that we have acquired, this is a valuable asset for our company and opens up even more scope for international expansion going forward.”

While business in CTS’ home market of Germany remained strong, the company credits its international business activities with delivering “important growth impetus”.

Its reinforced ticketing segment was a key driver, growing by 28.5% to €175.2m. Adjusted EBITDA also increased by 35.1% to €73.4m in the same period. Three out of the five biggest-selling events took place in other European countries or South America, including concerts by Italian rap superstar Ultimo and South American reggae stars Natiruts.

“For 2024 as a whole, the executive board now expects adjusted EBITDA to grow significantly year on year”

For the first six months of 2024, ticketing revenue came to €358m (+25.8%), with adjusted EBITDA at €156.6m (+29.5%).

In CTS’ live entertainment division meanwhile, four of its top five events took place outside Germany, with Bruce Springsteen in Spain, and Ultimo, Pinguini Tattici Nucleari and Max Pezzali in Italy. Furthermore, the company says its festival season got off to a good start thanks to events such as Rock am Ring, Rock im Park, Hurricane, Southside and Nova Rock, with “very good advance ticket sales” for upcoming festivals suggesting the upward trend is set to continue,” it notes.

Live entertainment revenue advanced by 19.7% to €631.1m and adjusted EBITDA rose by 5% to €36.6m in the same period. H1 revenue reached €865.6m (+15.2%) and adjusted EBITDA came to €45.6 million (+26.9%), with the adjusted EBITDA margin improving to 5.3%, compared with 4.8% in the prior-year period.

“Plenty of summer shows, open air events and a variety of festivals are due to take place in the third quarter, which will provide a further boost for the live entertainment segment,” adds the company, which has put forward a bullish forecast for the rest of the year.

“In light of the strong first six months and the See Tickets entities being consolidated in full from the start of June, the executive board is optimistic about business performance in the second half of the year,” it concludes. “For 2024 as a whole, the executive board now expects adjusted EBITDA to grow significantly year on year.”

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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’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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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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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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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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