CTS Eventim, a provider of ticketing and live entertainment services, has acquired a majority stake in Punto Ticket and Teleticket through a joint venture with Sony Music Latin Iberia.
The move sees the German business expand its presence in South America, with Punto Ticket based in Chile and Teleticket headquartered in Peru.
CTS Eventim first formed a joint venture with Sony Music Latin Iberia in 2016 to provide ticketing services in Brazil. The Punto Ticket and Teleticket acquisitions will provide ticketing systems and related services to concert promoters and venues across Chile and Peru.
“South America is a real growth market for ticketing and live entertainment,” said CTS Eventim chief executive Klaus-Peter Schulenberg. “We’re delighted to be partnering with Sony Music in two more extremely dynamic territories, and to have Punto Ticket Chile and Teleticket Peru joining our global network.”
Afo Verde, chairman and chief executive of Sony Music Latin Iberia, added: “The expansion of our operations to Chile and Peru showcases our continued commitment to fans, artists, promoters, venues, and the live music business. Chile and Peru are exciting, growing markets and a vital stop for both Latin and international touring superstars alike. We look forward to our continued partnership with Eventim to provide top-of-class service and solutions to both consumers and our clients in these markets.”
Corporate leadership for the acquired companies will remain in place.
“This partnership propels us into a new growth trajectory within the impressive CTS Eventim and Sony Music network,” said Danton Vinales, founder and chief technology officer of Punto Ticket. “The collaborative essence of this venture not only enriches our technological skills but also amplifies the service quality for promoters, artists, and fans as well. As we complement our local expertise with global capabilities, the future is ripe with promises of superior live entertainment experiences. I, alongside the Punto Ticket & Teleticket teams, eagerly anticipate the remarkable journey and achievements ahead with our new partners.”
Financial details of the two deals were not disclosed.