Industry News

CTS Eventim snaps up Italian promoter

CTS Eventim has acquired a majority stake in Italian promoter Friends and Partners, solidifying its position in the country’s live entertainment market.

Ferdinando Salzano (pictured), chief executive and founder of Friends and Partners, will remain in place following the investment.

CTS Eventim continues expanding its portfolio in the country after acquiring 60 per cent of the shares in Friends and Partner, following its buyout of Vertigo in September. The firm has also been involved in ticketing in Italy since 2007 with TicketOne.

Klaus-Peter Schulenberg, chief executive of CTS Eventim, said: “There are many artists that have long been addressing an international audience and who plan their live performances without paying heed to national borders.

“Our aim is to offer them Europe-wide touring opportunities and efficient ticketing services under the CTS Eventim umbrella. For that reason, we are constantly reviewing options for expanding our portfolio. I am delighted that with this transaction we further strengthen our market position in Italy.”

F&P Group, which was founded in 2001, organise tours for more than 40 artists, including national stars such as Claudio Baglioni, Ligabue, Gianna Nannini, Nek, Laura Pausini, Il Volo and Zucchero.

Frithjof Pils, managing director of the Medusa Music Group (CTS Eventim), said: “Friends and Partners complements our Live Entertainment portfolio in Italy superbly. Whereas Vertigo brings both domestic artists and many international rock acts to the Italian stage, Friends and Partners represent the Who’s Who of the national music scene.

“On top of that, Ferdinando Salzano and his team will bring valuable experience into our Group, from which we want to benefit in other countries as well.”

Salzano, said: “I am looking forward very much to the various opportunities that the partnership with a global player like CTS Eventim will provide us and I thank Klaus-Peter Schulenberg and his team for the confidence they place in us. Our joint aim is to project the Friends & Partners success story into the future.

“At the same time, my colleagues and I will remain true to our mission, which is to offer artists, managers and producers a home that helps them realise their creative ambitions. I also extend my thanks at this point to my companions at Warner Music, who have passionately supported and advised my team and myself for almost a decade. I am certain that our paths will cross on various projects in the future as well.”