Ticketing and entertainment company CTS Eventim has witnessed a robust start to 2023, growing its consolidated revenue by 163% compared to the first quarter of last year.
In the first quarter of 2023, consolidated revenue amounted to €366m (£319m/$395m), a major increase on €139m in the first quarter of 2022. It is also an improvement on the pre-pandemic posting of €283m in 2019.
The group’s normalised EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) amounted to €76m in the first three months of 2023, compared to €24m in the same period the year previous. The total is marginally higher than the €57m reported in the first quarter of 2019.
Eventim’s ticketing segment generated a revenue of €148m in the first three months of 2023, compared to the first quarter in 2022 which totalled €77m. This year’s first quarter figure is a 42% improvement on the first quarter of 2019 which reached €105m. Normalised EBITDA for this segment totalled €68m in the first quarter, an improvement on last year’s €27m and a 62% increase on the first quarter of 2019, which reached €42m.
The ticketing segment was bolstered by solid performances in the core market of Germany, as well as the Italian, Austrian, Swiss and Brazilian markets. The number of tickets sold online this year to date stands at 18 million, a 58% increase on the 11 million purchased during the same time period last year.
Eventim is hoping that its recently announced venture with Mammoth and AG Entertainment Touring will help to grow its presence in the international touring market.
The live entertainment segment’s revenue totalled €224m in the first quarter of 2023, compared to €27m the year prior. This is also a 23% increase on €182m in 2019. Normalised EBITDA for this sector in the first three months reached €8m, compared to a loss of €3.5m during the same period in 2022. However, it is lower than the €15m posted in 2019, though Eventim accredits this to high preparatory and implementation costs for festivals and events.
Klaus-Peter Schulenberg, chief executive of CTS Eventim, said: “In the first quarter of 2023, CTS Eventim has maintained its successful trajectory following the record year of 2022. The results show that live entertainment remains as popular as ever.
“Our customers have high expectations when it comes to buying tickets – especially for tours featuring top acts – and we have comfortably met these expectations. Both in Germany and internationally, we are pursuing organic growth and anticipate that our business performance will continue on its successful course.”