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CTS Eventim Posts Record 2023 Results
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All of CTS Eventim’s business segments experiences “dynamic growth” over the past year, according to the live entertainment giant’s preliminary 2023 financials.
Consolidated revenue rose to €2.359 billion ($2.5 billion), up from €1.926 billion ($2.1 billion) at the end of the previous fiscal year. “CTS Eventim thereby achieved a record level of revenue once again,” according to an earnings press release.
Both the ticketing and live entertainment segments drove the growth.
The group’s normalized EBITDA came to €501.4 million ($538.8 million) in 2023, compared to €380.1 million ($408.4 million) in the previous year – an increase of 31.9%.
Ticketing revenue amounted to €717 million ($770 million) in 2023, up 32.5% from the previous year’s €541 million ($581 million). Normalised EBITDA in the ticketing segment came to €382.4 million ($410.9 million) in 2023, up 46.6% from €260.8 million ($280.2 million in the previous year.
Live entertainment revenue jumped by 18.9% to €1.677 billion ($1.8 billion), from €1.410 billion ($1.5 billion) in the previous year. Normalized EBITDA remained stable at €119.1 million ($128 million) in 2023 (previous year: €119.2 million).
CTS Eventim’s preliminary 2023 figures include income of €37.4 million compensation payments from the German government, which pulled out of a contract.
“As the prior-year figures contained a similar volume of income that had been received under pandemic-related economic aid programmes, the year-on-year growth rates shown here reflect the success of the operating business,” the company states, adding that the full annual report for 2023 will be published March 26.