Features
CTS Eventim Posts Record 2023 Results
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.