CTS Eventim has further expanded its European event portfolio after acquiring a majority stake in Austrian live entertainment group Barracuda Music.

The Berlin-based ticketing firm has purchased a 71 per cent share in Austria’s leading independent concert promoter, adding it to its Eventim Live promoter network.

Barracuda Music, which was founded in 2004, bundles the activities of several independent concert promoters, including the organisers of the Electric Love, Frequency, and Nova Rock festivals.

It has also put on concerts with Bob Dylan, Elton John and Ed Sheeran, and is the exclusive organiser of concerts at the 10,000-capacity Clam Castle (pictured), which has been hailed as one of Austria’s most popular venues.

Eventim chief executive Klaus-Peter Schulenberg said: “We want to offer artists not only powerful ticketing services, but also international touring opportunities. Strengthening our market position in Austria is therefore an obvious step.

“Barracuda is one of Europe’s most creative concert promoters and ideally complements the portfolio of our Eventim Live promoter network. I am delighted that Ewald Tatar and his management team will continue to drive forward the development of Barracuda in their proven manner.”

In March, the German firm bundled its promoter activities in the new Eventim Live unit. The network now comprises 29 promoters who organise more than 30 festivals and some 5,000 live events each year, which attract 10 million visitors in 12 countries.

Ewald Tatar, who will continue to manage Barracuda’s operations from Vienna, said: “I look forward to this opportunity to continue Barracuda’s success story in the future with the support of a global player like Eventim.

“In particular, collaborating with the Eventim Live promoters will help us to offer artists, venues and fans the best possible solutions. I am confident that we, and hence Austria’s concert scene as a whole, will benefit greatly from this partnership.”

The announcement follows Eventim’s a minority acquisition of France’s Fnac Darty and its ticketing subsidiary France Billet. In October, the firm also entered the Russian live entertainment market through its acquisition of the country’s leading tour and concert promoter, Talent Concert International (TCI).

Image: Duke of W4