Promoter Legend Michael Cohl Partners With CTS Eventim, Update: Comments

A synergy of titans
Dave J Hogan/Getty Images/CTS Eventim
– A synergy of titans
Michael Cohl and CTS Eventim CEO Klaus-Peter Schulenberg entered into a 50/50 partnership
It’s a synergy of titans: U.S. entertainment industry legend Michael Cohl and European live entertainment giant Klaus-Peter Schulenberg and his company CTS Eventim have entered into a partnership focused on global touring.
The new arrangement is a 50/50 partnership, which “will actively acquire world-class content for global touring,” according to the announcement from CTS Eventim. It marks the next milestone for CTS Eventim’s promoter network Eventim Live, which no is no longer just pan-European. The new entity, which hasn’t been given an official name yet, is based in New York City, USA and will be led by Michael Cohl and Glenn Orsher.
“The partnership is set to provide a comprehensive global live entertainment platform, from concept creation to production and promotion for world-class content,” the announcement continues.
Both parties will contribute to the partnership. While Michael Cohl will add his concert business acumen and comprehensive network, CTS Eventim will provide full access to the Eventim Live network, ticketing platform and its full portfolio of products and services around live events.
Eventim Live now comprises more than 30 promoters across Europe, and now has added one of the most influential impresarios of the concert industry to the mix.
While CTS EVENTIM and Michael Cohl will each hold 50 percent of the shares of the new company, CTS Eventim is fully consolidating revenues and earnings according to IFRS and has a controlling interest.
Cohl, a Canadian native who helped pioneer the modern day mega tour, spent a reported $60 million for the Rolling Stones’ 1989 “Steel Wheels Tour,” which for its time was unprecedented. Subsequently, he went on to promote major tours by U2, Pink Floyd and Prince. He began his career in Toronto with Concert Productions International, which was acquired in 2006 Live Nation. Cohl would go on to become Live Nation’s chairman before departing in 2008. He went on to form S2BN Entertainment which promoted shows by Barbra Streisand, David Gilmour and Oprah as well as theatrical and musical productions. 
Klaus-Peter Schulenberg’s breakthrough in the music business came as manager of German Schlagerstar, the late Bernd Clüver in the 1970s. He continued working as concert promoter and artist manager, but soon diversified and bought into media companies, dailies, advertising journals, radio and more. CTS was founded in 1989 by German promoters Marcel Avram and Matthias Hoffman, but wasn’t run very successfully. Schulenberg bought the company in 1996, when its turnover was around 6 million German Marks. Today, the company turns over more than a billion US-Dollars annually, generated with both concert and festival promotion as well as ticket sales. CTS Eventim is ticketing market leader in most European countries. Last year saw the launch of Eventim Live, a promoter network now comprising some 30 individual promoters all across Europe.

Pollstar has reached out to both Michael Cohl and CTS Eventim for additional comment, and was told that more details on the deal, including quotes from Michael Cohl and Klaus-Peter Schulenberg, will be provided.
Update (Feb. 21, 7.57 a.m. PST): CTS Eventim released official comment from both Cohl and Schulenberg, as well as Eventim Live Managing Director Dr. Frithjof Pils, who shared the most up to date figures on CTS Eventim’s business.
“It was only in March 2019 that we bundled our promoter activities in the new unit Eventim Live. After less than a year, our network already comprises 33 international and national promoters who organise more than 40 festivals and around 6,000 live events with 12 million visitors in 14 countries every year,” Pils said.
“I am very pleased that with Michael Cohl we now also have a super strong and experienced U.S. partner with whom we can access new territories around the globe,” he added.
CTS Eventim CEO Klaus-Peter Schulenberg said: “Together with Michael and his unique network we will create a new platform out of New York for global artists and talent. We are very excited to support this venture with CTS Eventim’ full range of capabilities from Eventim Live to ticketing and to make our contribution to creating a new success story.”
Michael Cohl comments: I’m looking forward to working with Klaus and his great team and building a unique 21st century global touring company.”
CTS Eventim has been on an acquisition spree over the past years, growing its network of international promoters and ticketing businesses. Here’s a selection of stories Pollstar has recently reported: