CTS Eventim sees revenue growth in first quarter

Featured Image: Aaron Paul on Unsplash

CTS Eventim’s consolidated revenue has grown by 11.6% during the first quarter of 2024, rising from €366.2m (£312.2m/$397.6m) to €408.7m.

The Bremen-headquartered ticketing and live entertainment services provider also saw its Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) improve by 36.3% from €67.6m to €92.2m.

During the first quarter, the ticketing segment brought in a total of €182.8m, an increase of 23.3% on the same period, the year prior. Adjusted EBITDA for this segment rose by 24.9% to €83.3 during the first three months of 2024.

The live entertainment segment also witnessed an increase in revenue, improving 4.8% from €223.8m to €234.4m. Adjusted EBITDA for the segment totalled €8.9m.

Punto Ticket in Chile and Teleticket in Peru were consolidated for a full quarter for the first time since their acquisition by Eventim in November last year.

See Tickets, which CTS Eventim agreed to purchase from Vivendi in April, has not yet been included in the quarterly figures.

Earlier this year, it was announced that CTS Eventim and AXS had secured the ticketing contracts for the 2028 Olympic and Paralympic Games in Los Angeles.

“CTS Eventim achieved sustained dynamic growth in its operating business in Q1, and had remarkable success in winning a number of substantial tenders for major sporting events,” said chief executive Klaus-Peter Schulenberg.

“These will create positive momentum for the company’s development over the medium and long term. The ticketing for the 2028 Olympic and Paralympic Summer Games in Los Angeles will give an extra boost to our already successful entry into the North American market.”