CTS Eventim has seen record growth in the first six months of 2018, in part due to a boost in its digital ticketing and live entertainment businesses.
CTS Eventim’s financial report detailed a group revenue increase of 24.6 per cent to €606.6m (£545m/$702.8m) in the first half of 2018. These figures pushed the ticketing and live entertainment firm above the half billion euro mark for the first time ever in this reporting period.
Eventim’s digital ticketing volume jumped up almost 10 per cent, despite having a lower number of tours, while its live entertainment business reached record figures for revenue and earnings.
The firm sold a total of 22.4 million tickets via its online stores in the first six months of 2018, marking a growth rate of 9.4 per cent year-on-year.
Meanwhile, live entertainment revenue rose by 36 per cent to €429.1m, and normalised EBITDA improved by 57.4 per cent to €28.5m. CTS Eventim said these figures were driven, among other factors, by a greater number of tours and events involving large audiences and high sales revenue. The new ‘Holiday on Ice’ tour and acquisitions of concert and festival promoters also had positive impacts, the company stated.
Klaus-Peter Schulenberg, chief executive of CTS Eventim, said: “CTS Eventim has maintained its strong growth in the first half of 2018. In addition to our strong live entertainment business, our online ticketing operations played a major role here.
“Even though, also due to the FIFA World Cup, in many countries there were fewer presales for major tours than in 2017, we improved our web ticketing volume by almost 10 per cent. This is a clear indication that we are well-equipped for further growth – not only in our present markets, but also beyond.”
CTS Eventim added that in view of the “encouraging growth figures” for the first six months of 2018, the company continues to expect revenue and normalised EBITDA to be higher for the full year. In 2017, the company achieved record-breaking results, including revenue in excess of €1bn for the first time.