Features
CTS Eventim Breaks $2 Billion Barrier In Q3
For the first time in company history, CTS Eventim has exceeded €2 billion ($2.1 billion) in group revenues in a nine-month period.
For the first three quarters of 2024, the group reported revenues of €2.027 billion ($2.112 billion) – a year-on-year increase of 15.8% – and adjusted EBITDA of €322.7 million ($336 million), plus 12.1% compared to last year’s third quarter.
The adjusted EBITDA margin remains “virtually unchanged at the high level of 15.9% (2023: 16.4%),” according to the company’s earnings summary report, which states, that “although economic conditions are becoming increasingly challenging and upward pressure on costs is still stubbornly high, the Group is continuing on its stable growth trajectory.”
What contributed to the Q3 growth, besides organic growth in core European markets, are CTS Eventim’s recent acquisitions. The third quarter was the first time
that See Tickets was fully consolidated for the full three-month period. The ticketing businesses acquired in Chile (Punto Ticket) and Peru (Teleticket) at the end of 2023 also performed “extremely well,” ac
“Integration expenses were in line with expectations and will not affect long-term business performance. The full impact of positive synergies will be felt in future reporting periods,” the summary report continues.
As usual, CTS Eventim breaks down its numbers in ticketing and live entertainment.
In the period January to September 2024, revenue in the ticketing segment climbed to €564.6 million, a 22.9% year-on-year increase. Adjusted EBITDA rose by 18.4% to
€240.7 million in the first nine months of 2024.
The rapid growth of the ticketing segment was primarily attributable to a diverse content portfolio encompassing an eclectic mix of artists, genres and events. Another important factor was the wide geographical area covered. In terms of revenue drivers, the biggest artists in the third quarter included Ed Sheeran, Iron Maiden, Gilberto Gil and Vasco Rossi. Yet another major sport ticketing project was brought to a successful conclusion thanks to the seamless handling of on-site ticketing at the 2024 Summer Olympic Games in Paris. Almost simultaneously, the Group’s TicketOne subsidiary won the ticketing contract for the 2026 Winter Olympic Games in Milano Cortina, providing further confirmation of the reliability and capabilities of the team and the technological infrastructure.
The projects to integrate See Tickets’ national companies are already well underway, which will enable synergies to be leveraged as soon as possible. After the competition authorities gave the go-ahead for the acquisition of a majority stake in the leading French ticketing company France Billet, the option to purchase a further 17% of the shares will be exercised at the end of November and consolidation will then start in December of this year.
The Live Entertainment segment’s revenue rose by 13.6% YOY to €1.494 billion in the first three quarters of 2024. Adjusted EBITDA edged down by 3% to €82.1 million.
The reasons for this included persistently high cost pressures for promoters and integration expenses for the live entertainment activities that were acquired as part of the See Tickets deal.
Presales for the anniversary editions of the two signature festivals Rock am Ring and Rock im Park in 2025 made an exceptionally strong start. The expansion of the Eventim Live Group in Asia is continuing to progress, offering fresh potential for both international and local acts in the region and beyond. The merger of Peter Rieger Konzertagentur with DreamHaus brings together the expertise and the strengths of two major players of the German event business and will create substantial synergies.
The construction and subsequent operation of Italy’s largest, most innovative and most
sustainable indoor arena, which will be located in Milan, is on track. And a week ago, Wien Holding picked CTS Eventim to build and operate a further large-scale arena.
CTS Eventim’s long-term corporate strategy revolves around “organic growth, the establishment and expansion of lucrative lines of business, strategic acquisitions and, not least, the development of the venue business.”