Features
CTS Eventim Makes Strong Start In 2022
According to CTS Eventim’s Q1 results, both the company’s ticketing and live entertainment segments were up substantially compared to the prior-year period.
Consolidated group revenue improved to €139.2 million ($149 million) in the first quarter of 2022 (previous year: €19.6 million. Normalized EBITDA came to €23.7 million ($25.5 million), compared to a loss of €19.6 million ($21 million) in the previous year.
See: CTS Eventim Partners With TikTok On German Festivals
In the ticketing segment, revenues rose to €76.5 million ($82 million) in the first three months of 2022 (previous year: €13.5 million). Normalized EBITDA was back comfortably in positive territory at €27.2 million (previous year: €-13.4 million).
Revenue in the live entertainment segment improved year-on-year to reach €65.1 million ($69.7 million) in the first quarter of 2022 (previous year: €6.8 million). Normalized EBITDA amounted to €-3.5 million ($-3.7 million), compared to €-6.2 million ($-6.6 million) in the previous year.
“Concert and festival venues are finally coming back to life. The strong start to 2022 makes us all optimistic that live entertainment will make a robust comeback this year,” commented CTS Eventim CEO Klaus-Peter Schulenberg.
He said, that ticket sales in April and May have been well above the levels of the same period in 2019, which had been a record year. “This underpins the hope that the live entertainment sector will really bounce back after an enforced two-year break due to coronavirus,” Schulenberg explained, adding, “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.”
Positive news from Germany in the first quarter came, when an arbitration tribunal decided that autoTicket GmbH – a joint venture between CTS Eventim AG Co. KGaA and Kapsch TrafficCom AG – is entitled to claim for compensation and reimbursement of expenses from the German state, after it pulled out of a lucrative car toll contract.
Now, that the first phase of the two-stage arbitration proceedings is completed, the amount will be ruled upon in the next phase. After the operator agreement concerning the collection of the car toll in Germany was terminated, autoTicket GmbH brought claims for compensation of around €560 million ($599 million) against the federal republic of Germany.
CTS Eventim has teamed up with France Billet to provide ticketing software and related services for the 2024 Olympic and Paralympic Games in Paris. The agreement was signed in April 2022. The Group expects the contribution to revenue to be in the double-digit millions.