CTS Eventim points to a strong performance in its ticketing and live entertainment segments for the significant growth in revenue and normalised EBITDA in the first nine months of 2017.
The ticketing firm saw a 29.4 per cent rise in group revenues year-on-year to reach €745.6m (£661m/$875.5m), while group EBITDA improved 11.7 per cent to €120.3m.
The ticketing segment saw a 10.7 per cent year-on-year increase in revenue to €265.9m, partly due to a significantly higher volume of online ticketing sales and international expansion.
CTS Eventim sold a record more than 31 million tickets online, signifying 16.9 per cent year-on-year growth. The firm’s expansion into South America and Scandinavia played a major role in the increase.
Klaus-Peter Schulenberg, chief executive of CTS Eventim, said: “CTS Eventim’s business growth in the first nine months gives us every reason to be very optimistic. Our ticketing growth rate is in the double figures, and our online businesses are performing particularly strong. The fact that we are selling more and more tickets through digital channels has positive and long-term impacts on our margins.”
In addition, the ticketing company’s live entertainment segment saw a 43.3 per cent growth, which it has attributed to its buy-out of promoter FKP Scorpio, among other acquisitions, and a larger number of tours and events attracting big audiences.
CTS Eventim has also extended its product portfolio in the segment, most recently by acquisitions of two Italian promoter companies, Vertigo and Friends & Partners.
Schulenberg added: “The trend in recent months has shown that we are making excellent progress in implementing our growth strategy and making CTS Eventim more digital and international. We expect higher revenues and stronger earnings for the year as a whole, compared to 2016.”