CTS Eventim has seen a strong performance in the second quarter of 2022 to beat statistics from before the COVID-19 pandemic.
The live entertainment and ticketing company posted revenues of €595m (£500m/$590m) for the second quarter and €732m for the six months between January and June. This is compared to €414m in Q2 in 2019 and a COVID-impacted €46m in Q2 in 2021.
The €734m is up compared to €697 in the first six months in 2019 and €65m in the first six months in 2021.
Normalised EBITDA amounted to €105m in the second quarter compared to €55m in 2019 and €99m in Q2 in 2021. For the first six months of 2022, normalised EBITDA totalled €129m compared to €112m in 2019 and €79m in 2021.
The ticketing segment saw revenues rise to €201.5m in the first half of 2022, while the second quarter saw ticketing revenue total €125m compared to €36.1m in the corresponding period last year. Normalised EBITDA for ticketing totalled €61.4m in Q2 and €88.6m in the first six months of 2022, compared to €77.6m in Q2 last year and €64.2m in the first six months of 2021.
The live entertainment segment saw its revenue improve to €541.5m in the first six months of 2022 compared to €18.3m the previous year. Revenue for live entertainment in Q2 amounted to €476.4m compared €11.5m the year prior. Normalised EBITDA totalled €40.5m in the first half of 2022 compared to €15.2m last year and for Q2, normalised EBITDA reached €44m compared to €21.4m.
CTS Eventim also highlighted improved ticket sales, which bounced back strongly in the first half of 2022. The company’s best performing markets were Italy and Switzerland, with a 38% increase in worldwide ticket sales in the second quarter.
Chief executive of CTS Eventim Klaus-Peter Schulenberg said: “Live entertainment, which many people really missed during the pandemic, is making an impressive comeback this summer, and this is directly reflected in our business performance.
“Given the robust relaunch of cultural activities and live events, we are very optimistic that our industry has now finally turned the corner after two very difficult years.
“However, increasing prices, a lack of staff, the threat of an energy shortage and uncertainty about how the pandemic will unfold remind us that the long-suffering events sector has not yet emerged from the crisis. Nevertheless, we believe that CTS Eventim is ideally placed to continue seizing opportunities in order to maintain its growth trajectory.”
Image: Aditya Chinchure on Unsplash
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