Home Business CTS EVENTIM Generates €1bn in First Half of 2023 as European Concert and Ticketing Company

CTS EVENTIM Generates €1bn in First Half of 2023 as European Concert and Ticketing Company

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CTS EVENTIM Generates €1bn in First Half of 2023 as European Concert and Ticketing Company

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.

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