CTS Eventim has broken its revenue record after surpassing €1bn for the first time ever in 2017.
Both CTS Eventim’s ticketing and live entertainment segments contributed to its significant growth, with normalised group EBITDA reaching a new best-ever figure that rose by 5.3 per cent to €204.7m.
In total, more than 250 million tickets were sold in 2017, including 100 million tickets for cinema shows. The other 150 million tickets were for more than 240,000 live events of all kinds.
The firm’s ticketing segment notched up a record year, which was reportedly thanks to continued dynamic growth of its online businesses. Revenue increased by 5.9 per cent to €418.4m
The firm saw group revenues increase by almost a quarter to €1.03bn, while its consolidated income grew more than 19 per cent to €112.8m.
In 2017, CTS Evetim sold 48.9 million tickets through its digital and mobile sales channels, an increase of 11.9 per cent on the year before.
This growth was both attributable to the company’s existing core markets and its new operations in Brazil and Scandinavia.
Klaus-Peter Schulenberg, chief executive of CTS Eventim, said: “CTS Eventim generated more than a billion euro in revenues in 2017, for the first time ever. We are absolutely delighted that this record is accompanied by a whole string of other positive developments.
“These include the growth of our online operations, our international expansion and the creation of new event formats like the ‘New Horizons’ festival, for example.”
In addition, revenue in the live entertainment segment rose significantly by 42.7 per cent to reach €626.7m. Key factors for this success has been attributed to the growth of FKP Scorpio and a greater number of tours and events attracting large audiences, among them the inaugural edition of ‘New Horizons’ at Nürburgring.
CTS Eventim acquired the majority of shares in FKP Scorpio in January 2017 and in recent months strengthened its position in Italy, thanks to the acquisitions of majority stakes in three promoters – Vertigo, Friends & Partners and D’Alessandro e Galli.
Image: CTS Eventim PR