CTS Eventim ‘significantly’ exceeds 2023 forecast

CTS Eventim “significantly exceeded” its forecast for 2023 thanks to a “very strong” Q4, according to the company’s latest financial results.

The pan-European giant enjoyed a record year, attaining consolidated revenue of €2.359 billion for the 12-month period – a 22.5% increase on the previous year’s €1.926bn. CTS had previously projected group revenue in excess of €2bn for 2023 as a whole last October.

In the preliminary figures, the group also reported normalised EBITDA of €501.4 million, up 31.9% from €380.1m in the previous year. CTS’ full annual report for 2023 will be published on 26 March.

The growth was powered by the German-headquartered firm’s ticketing and live entertainment segments. Ticketing revenue rose 32.5% to €717m (2022: €541m), with normalised EBITDA leaping 46.6% to €382.4m.

For the live entertainment strand, revenue jumped 18.9% year-on-year to €1.677bn (2022: €1.410bn), with normalised EBITDA almost flat at €119.1m, compared to €119.2m in 2022.

The group figures include income of €37.4m to which CTS group companies are directly entitled, resulting from compensation paid by the German government to the joint venture autoTicket GmbH, Berlin.

“The year-on-year growth rates shown here reflect the success of the operating business”

“As the prior-year figures contained a similar volume of income that had been received under pandemic-related economic aid programmes, the year-on-year growth rates shown here reflect the success of the operating business,” adds a company statement.

According to Pollstar’s 2023 global rankings, the Eventim Group is the world’s second-biggest promoter. The firm’s portfolio includes festivals such as Rock am Ring, Rock im Park, Hurricane, Southside,and Lucca Summer.

It also operates venues, such as the Lanxess Arena in Cologne, the K.B. Hallen in Copenhagen, the Waldbühne in Berlin and the Eventim Apollo in London.

Visions reports that more than 90,000 tickets have already been sold for Germany’s Rock am Ring and Rock im Park, which take place from 7-9 June at Nürburgring race track and Zeppelin Field, respectively.

Operated by CTS’ Dreamhaus subsidiary, the twin festivals will be headlined by Die Ärzte, Måneskin and Green Day. The events’ new premium camping offers are said to be almost sold out, while tickets for the Backstage Camp, Seaside Backstage Camp and Caravan Camping are already sold out.

“The demand for tickets is strong and the fans’ anticipation is huge,” says Dreamhaus CEO Matt Schwarz.

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Written by IQ Magazine