CTS Eventim has announced its entry into the Spanish market through its acquisition of Doctor Music as it reported “significant growth” during Q1 2018.
The firm has purchased a majority 63.5 per cent share in the Spanish promoter of concerts and festivals, expanding its portfolio to 10 countries.
Doctor Music has organised the Spanish tours of stars including Adele, Robbie Williams and the Rolling Stones.
Klaus-Peter Schulenberg, chief executive of CTS Eventim, said: “The Spanish market has shown encouraging growth in recent years and is one of the most important destinations for artists from across the world. In the future, we will be able to offer them not only efficient ticketing, but also a range of tour options.
“With its international portfolio of artists and inventory strengths, Doctor Music is the ideal partner for this advance.”
In the coming months, Doctor Music will be presenting shows by globally renowned stars such as Bruno Mars and Katy Perry.
Meanwhile, CTS Eventim has reported a group revenue increase of 32.5 per cent to €274.5m during the first quarter of the year. The owner of Eventim and Ticketone said ticketing saw organic revenue growth of around 10 per cent with a higher EBITDA margin than the previous year.
In addition, the firm saw its online ticketing volume increase by 12.5 per cent, while revenue and normalised EBITDA improved in the live entertainment segment by more than 50 per cent, primarily due to tours attracting large audiences.
Schulenberg said: “In the first quarter of 2018, we followed on seamlessly from our record year in 2017. Thanks to many tours drawing big crowds, and the dynamic development of our webshops, CTS Eventim is superbly positioned for further international growth in the future. Our performance so far gives us every reason to be optimistic that we will improve our revenue and normalised EBITDA once again in 2018.”