CTS Eventim has entered the Italian live events market through the acquisition of a majority stake in promoter Vertigo.
The Munich-based company, which already runs Ticketone, one of Italy’s largest ticket operators, has bought 51 per cent of shares in the Milan-based operator of concerts and events. CTS Eventim will now be able to leverage its position in Italy, offering a full promotion and ticketing service in a market where rival Ticketmaster is not operational.
The acquisition means CTS Eventim is now promoting live events in eight markets – Italy, Germany, Austria, Switzerland, Denmark, Sweden, Finland and the Netherlands.
Vertigo was established by two brothers, Andrea and Stefano Pieroni, who each served as managers at Live Nation Italy. The two will continue to lead Vertigo.
Alice Cooper and Europe are among the main international acts in Vertigo’s 2017-18 indoor season.
Klaus-Peter Schulenberg, chief executive of CTS Eventim, said: “Italy is already one of the most important markets for our company. So entering the live entertainment segment there is a logical step in our ongoing internationalisation.
“I am all the more delighted by the fact that, by acquiring the stake in Vertigo, we are also taking on board a highly creative, fast-growing and superbly managed promoter.”
Andrea Pieroni is the historical promoter of legendary international acts such as Iron Maiden, Metallica and David Gilmour. He also invented the world famous ‘Gods of Metal’ festival, the main Italian rock and metal event in Italy for more than 20 years.
CTS Eventim will have two seats on the Vertigo Management Board and will fully consolidate the company within its Medusa Music Group.
Andrea Pieroni, chief executive of Vertigo, said: “The partnership with CTS Eventim is a milestone for Vertigo and will help us take the next step forwards in our development. We want to enlarge our portfolio even further over the next few years and offer a creative and service-centred base to different styles of artists from Italy and abroad.
“The fact that CTS Eventim will be supporting us from now on with its resources and its unique expertise is an enormous boost for our team and our partners.”
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