The global concerts business is experiencing significant growth, as evidenced by the recent financial reports of live music companies. Live Nation, based in the US, reported a 27% year-on-year increase in Q2 revenues, reaching $5.6 billion for its global operations. Meanwhile, CTS Eventim, a Germany-headquartered live entertainment company and ticket seller, generated EUR €1.021 billion in H1 revenues, a remarkable 39% increase compared to the previous year. Notably, this marks the first time that CTS Eventim has surpassed EUR €1 billion in revenue within a six-month period.
Digging deeper into CTS Eventim’s results reveals that the company’s Live Entertainment segment generated EUR €751 million in H1, up 39% year-on-year. In Q2 alone, the Live Entertainment business generated €527.2 million, an 11% increase compared to the same period last year. Additionally, CTS Eventim expanded into the North American market in September 2021 and reported €50 million in revenue from the US in the first half of 2023, with a projected revenue of over €100 million for the entire year.
In terms of ticketing, CTS Eventim saw a 41% year-on-year increase in revenue from its Ticketing segment, reaching €284.6 million in the first six months of 2023. The company sold 34.3 million tickets during this period, representing a 22.8% year-on-year increase. Comparatively, Ticketmaster, owned by Live Nation, sold 151 million ‘reported fee-bearing tickets’ year-to-date, marking a 22% year-on-year growth. CTS Eventim’s employee count also rose from 3,190 to 3,469 between H1 2022 and H1 2023. With a normalised EBITDA of €170.8 million for H1 2023, the company demonstrates strong and stable growth amidst macroeconomic challenges.
