Features
Double-Digit Eventim
CTS Eventim shareholders smarting because the German ticketing giant didn’t get a dollar from its recent legal battle with Live Nation may get a boost from its half-year figures.
The company’s ticketing and promoting wings both reported double-digit growth in revenues as group revenues rose 21.6 percent to euro 312.3 million ($414 million).
Photo: eventim.com
Earnings before interest, tax, depreciation and amortization (EBITDA) showed a year-on-year jump of 24.2 percent to euro 63.4 million ($84 million).
The live entertainment segment, Medusa Group, which includes promoters Marek Lieberberg, Folkert Koopmans, Peter Rieger, Dirk Becker and Norbert Link, reported revenues for the first six months of 2013 up 22.9 percent to euro 199.8 million ($265 million).
It was one of the few times the promoters have out-performed the ticketing operation, where revenues were up 19.8 percent to euro 115.7 million ($153.4 million.
The promoters’ EBITDA was euro 23.3 million, 29.4 percent up on the same period of 2012. Eventim, which operates in Germany and 20 or so neighbouring European countries, sold more than 100 million tickets for about 180,000 events.
Eventim’s ad hoc press release that accompanied the results Aug. 14 pointed out that the results would been even better if not for the legal wrangle with LN.