Eventim Ticket Sales ‘Booming’

German live entertainment giant Eventim’s ticketing segment recorded double-digit growth in sales as well as earnings, the company stated in its half-year results. 

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Ticketing revenues grew 10.2 percent compared with the first six months of 2016, and reached euro 177.8 million. Normalized EBITDA increased by 13.8 percent to euro 65.6 million.

Eventim says it sold 20.4 million tickets via digital and mobile sales channels, which marks a 12.7 percent increase year-on-year.

“A major role was played here not only by the traditional home markets, but also by expansion in South America and Scandinavia,” the company states. Live entertainment revenues climbed 20.7 percent to euro 316 million, in particular thanks to the takeover of a majority stake in FKP Scorpio. EBITDA decreased by 21.8 percent to euro 18.6 million, due to “investments in establishing new festival brands, combined with higher advance costs for future events to be held in the second half of the year.”

Overall group revenues improved by 16 per cent, and reached euro 489 million in the first six months of this year. The strong ticketing performance also helped the normalized group EBITDA to rise by 3.4 percent to euro 84.2 million.

CEO Klaus-Peter Schulenberg commented: “CTS Eventim can look back at a successful first half-year. Our growth was fuelled by the expansion of our digital and international activities.”