CTS Eventim has attributed its record earnings in 2019 to its ticketing segment after it reported group revenue increased by 16.2% year-on-year to €1.44bn.

Ticketing revenue increased by 7.7% to €481.6m from €447.1m the year prior, with normalised EBITDA up by 12.6% to €220.4m.

A total of 57.3 million tickets were sold online in 2019 compared to 54.3 million in 2018 via the webshops operated by the CTS Group, which equates to a growth rate of 5.6%.

The Berlin-based firm noted that extensive technical measures were implemented in 2019 to optimise the online ticketing system, which is deemed as “the backbone” for Eventim’s eCommerce activities at national and international level.

The company’s live entertainment segment also performed well in 2019, due to major tours by the likes of Ed Sheeran. The live entertainment arm saw revenues increase by 21.3% to €985.8m from €812.5m the year before.

The segment has been centred on creating the Eventim Live promoter network, which has most recently expanded to include pioneering promoter Michael Cohl, Austrian promoter Barracuda Music and Switzerland’s Gadget Entertainment and Wepromote Entertainment Group Switzerland. It also purchased a minority stake in 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).

Klaus-Peter Schulenberg, chief executive of CTS Eventim, said: “In 2019 we delivered impressive proof of the successfulness and profitability of our integrated business model comprising Ticketing Services, Live Entertainment and Content.

“We continued to grow significantly over 2019, while at the same time enhancing our market position at both national and international level. The venues we operate also showed encouraging growth and are among the best in the world.”