CTS Eventim, a provider of ticketing services and live entertainment, achieved a revenue of €1.75bn (£1.53bn/$1.9bn) during the first three quarters of 2023, with a total of €729.3m posted during Q3.
The latest set of results from CTS Eventim has shown an improvement on last year’s Q3, with a 5% increase on 2022’s €694.4m.
Revenue for the ticketing segment in Q3 amounted to €174.6m compared to €137.3m in Q3 in 2022, while live entertainment brought in €563.7m compared to €563.3m during Q3 last year. This is also a significant increase on the €378m figure posted during Q3 in pre-pandemic 2019.
Normalised EBITDA (earnings before tax, interest, depreciation and amortisation) amounted to €172.5m in Q3, compared to €133.8m in the same period the year prior. This is also a further increase of €65.2m in the same quarter during 2019. Normalised EBITDA for the ticketing segment amounted to €120m in Q3, while live entertainment equated to €52.5m, a decrease of €63.9m in Q3 last year.
During the first nine months of 2023, revenue totalled €1.75bn, compared to €1.43bn during the same time frame the year prior. The ticketing segment posted a total of €459m in the first nine months compared to €338.9m in 2022. Live entertainment saw revenue for the first three quarters of this year amount to €1.3bn compared to €1.1bn the year prior.
Figures also include an income of €37.4m from the joint venture autoTicket Berlin, which is a compensation payment from the German Government. Earlier this year, CTS Eventim and partner Kapsch TrafficCom were awarded damages from the Federal Republic of Germany after a settlement was reached to end arbitration proceedings. The proceedings followed the termination of an operations contract for the collection of the infrastructure charge – a passenger car toll.
Looking forward, CTS Eventim expects to achieve a group revenue upwards of €2bn for 2023. This is largely due to a number of concerts lined up in the fourth quarter, as well as revenue garnered as a result of its expansion strategy. In August, CTS Eventim announced that it had increased its share in French ticketing company France Billet to 65%.
“CTS Eventim offers extremely attractive content in almost all live entertainment segments and has unparalleled reach among fans of music, sport, edutainment and other live formats in Europe and beyond,” said chief executive Klaus-Peter Schulenberg.
“Thanks to the global integration of our technologies and marketing platforms, we’re ideally positioned to monetise both our content and reach while offering fans a unique live experience that starts with their ticket purchase. As part of our strategy of international expansion, we have already integrated the French market leader, France Billet, into our operations. France Billet is a strong player and once it has been fully consolidated, we expect that it will provide another boost to our business. And once again, Christmas trade will also have a positive impact on our net profit for the year.”
Share this