CTS Eventim’s European concert and ticketing revenue hits €1bn in H1 2023.

Date:

The global concerts business is experiencing significant growth, as evidenced by the financial reports of major live music companies. Live Nation, headquartered in the US, reported Q2 revenues of $5.6 billion, representing a 27% year-on-year increase. Similarly, CTS Eventim, a Germany-based live entertainment company and ticket seller, announced H1 revenues of EUR €1.021 billion, a 39% rise compared to the previous year. This marks the first time CTS Eventim has surpassed €1 billion in revenue within a six-month period. The company’s Live Entertainment segment generated €751 million in H1, a 39% increase year-on-year, while the Ticketing segment saw revenue climb 41% to €284.6 million.

In terms of geographic expansion, CTS Eventim entered the North American market in September 2021 and reported generating €50 million in the US in H1 2023. The company forecasts revenue from the US market for the year to surpass €100 million. Additionally, CTS Eventim sold 34.3 million tickets in the first half of the year, a 22.8% increase compared to the prior-year period. These positive results align with the overall growth trend in the live music industry, as Live Nation’s Ticketmaster had sold 151 million reported fee-bearing tickets year-to-date, representing a 22% year-on-year increase. CTS Eventim’s headcount also grew from 3,190 employees in H1 2022 to 3,469 employees at the end of H1 2023.

CEO Klaus-Peter Schulenberg attributes the company’s strong and stable growth to the breadth and depth of its portfolio and successful internationalization efforts. Despite the market disruptions caused by pandemic-related catch-up effects, CTS Eventim has returned to “business as usual,” characterized by healthy organic growth and the development of new and existing business segments. Schulenberg highlights the company’s flexibility and entrepreneurial ingenuity in navigating macroeconomic challenges and maintaining healthy growth. The key figures confirm that both the wider market and the CTS Eventim Group are performing at higher levels than before the pandemic.

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

Waterfront Restoration’s Expert Aquatic Weed Removal in Long Lake, MN

Frustrated by the weeds and invasive species preventing his...

Leading-edge Irrigation Maintenance Services in Port Charlotte, FL by Shaffer’s Irrigation

Boosting the health of your landscape through efficient irrigation...

Experience Remarkable Terrazzo Refurbishing in Sarasota, FL with Intra State Terrazzo and Concrete

Keen on understanding the intricacies that underline the worth...