Eventim’s Internet Cash Cow

CTS Eventim’s online portal continues to be a cash cow for the German company, with Q1 ticket sales increasing 6.8 percent to $5.9 million.

Photo: eventim.com

Earnings before interest, tax and amortization rose to $36.1 million, nearly 18 percent of the multi-faceted Eventim’s group earnings of $207 million – which is 12.5 percent up on Q1 2013.

Ticketing revenues as a whole were up 11.4 percent, while Eventim’s promoters – the so-called Medusa Group – saw revenues rise by 37.9 percent.

The Medusa Group, which includes Marek Lieberberg, Folkert Koopmans, Peter Rieger, Dieter Semmelman, Dirk Becker and Norbert Link, brought in $114.5 million.

The earnings announcement said Eventim will continue to focus on growing its Internet ticketing business and expanding internationally with new products and services.

Eventim’s share price, which three months ago stood at euro 38 ($52.3) is now steady at around euro 44 ($60.5).