Industry News

CTS Eventim smashes €4bn barrier

CTS Eventim’s upwards trajectory has helped it break through the €4bn ($4.96bn/£3.52bn) barrier in valuation for the first time.

The German ticketing firm’s share price rose by almost 1.5 per cent to €41.72 on Friday. That meant the company was worth more than €4bn for the first time since its IPO in 2000.

CTS Eventim, which owns brands such as Eventim and Ticketone, has seen its share price rise by around 225 per cent in the last five years. Industry analysts believe the rise reflects the continuing trend away from traditional ticket distribution and towards online marketing.

In November CTS Eventim pointed 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.

Last month CTS Eventim confirmed it will appeal the blocking of its use of exclusivity agreements with promoters and box offices in Germany.

The Federal Cartel Office (Bundeskartellamt) has banned the ticketing firm of requiring its partners to “only sell tickets exclusively or to a considerable extent via CTS’s ticket sales system.” Germany’s competition regulator claims it is an abuse of its dominant market share of 50-70 per cent.