CTS Eventim saw its ticketing business constrained by a lack of major tours as it recorded modest growth in revenue and earnings in Q1.
The firm’s ticketing arm saw its Q1 revenue increase by 2.6 per cent to €104.5m (£100m/$116m), and experienced a “significant” increase in its online sales, shifting 12.7 million tickets, up 3.7 per cent, through its own web shops in the first three months of 2019.
The Germany-headquartered group, whose brands include Eventim.de, Oeticket.com, Ticket Corner and Ticketone, said fewer major tours with high-priced tickets went on sale during the reporting period compared to 2018.
Overall, the company saw a three-per-cent rise in its first-quarter revenues year-on-year from €274.5m to €282.7m, while normalised EBITDA increased 3.1 per cent to €57.1m.
The firm’s live entertainment segment saw a 4.1-per-cent revenue increase to €182.2m, while normalised EBITDA rose 1.6 per cent to €15.2m.
Klaus-Peter Schulenberg, chief executive of Eventim, said: “CTS Eventim has delivered a successful start to the year. As expected, our ticketing business did not grow as strongly at the beginning of the year as it did in the very successful first quarter of 2018.
“Meanwhile, our revenue growth is fuelled by both segments, and has accelerated in the second quarter, especially in ticketing. Our outlook for the full year remains positive, not least because of this added momentum.”
Image: Pxhere
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