Germany-headquartered live entertainment company and ticket seller CTS Eventim reaffirmed its full-year outlook for 2024 as its acquisition of See Tickets and other key purchases drove a double-digit jump in revenue and EBITDA in the first three quarters.
Revenue during the January-September period surged 15.8% YoY to EUR €2.03 billion (USD $2.12 billion), driven by organic growth in Germany and other core European markets, as well as a long-term boost from its recent acquisitions, most notably the integration of See Tickets.
The third quarter marked the first full period of See Tickets’ consolidation, contributing to the company’s expansion in the UK, USA, and other markets. Additional growth came from recently acquired ticketing operations in South America, including Punto Ticket in Chile and Teleticket in Peru.
In the ticketing segment, revenue surged 22.9% YoY to €564.6 million, driven by a number of concerts featuring major artists such as Ed Sheeran, Iron Maiden, Gilberto Gil, and Vasco Rossi. The live entertainment division also showed strong growth, with revenue increasing 13.6% YoY to €1.49 billion, despite facing persistent cost pressures and integration expenses related to See Tickets’ live entertainment activities.
CTS completed its €300 million acquisition of See Tickets in June as part of its purchase of Vivendi’s ticketing and festivals businesses. In 2023, the acquired businesses generated €137 million in revenue, with the UK and US markets being their strongest performers.
“The projects to integrate See Tickets’ national companies are already well underway, which will enable synergies to be leveraged as soon as possible,” the company said on Thursday (November 21).
Further bolstering its market position, CTS Eventim is set to exercise its option to purchase an additional 17% stake in French ticketing company France Billet, subsidiary of France-based retailer Fnac Darty, at the end of November, with consolidation expected to begin in December 2024. This follows recent approval from competition authorities for the acquisition of a majority stake in the company, boosting CTS’s stake to 65% from 48%.
“CTS Eventim is continuing to deliver stable growth in an increasingly volatile political and economic environment.”
Klaus–Peter Schulenberg, CTS Eventim
The company also highlighted a number of successful projects during the period, including handling on-site ticketing for the 2024 Summer Olympic Games in Paris. Building on this, CTS subsidiary TicketOne secured the ticketing contract for the 2026 Winter Olympic Games in Milan/Cortina d’Ampezzo, Italy.
In the festivals sector, presales for the anniversary editions of Rock am Ring and Rock im Park in 2025 have shown strong momentum. The company is also expanding its EVENTIM LIVE Group in Asia to support both international and local acts in the region.
CTS also hinted that it is proceeding with the construction of Italy’s “largest, most innovative, and most sustainable” indoor arena, to be located in Milan. Additionally, Wien Holding has recently selected CTS Eventim to build and operate a new large-scale arena, further expanding the company’s venue portfolio.
CTS noted that despite increasingly challenging economic conditions and persistent cost pressures, the company maintained a robust adjusted EBITDA margin of 15.9%, slightly below the previous year’s 16.4%. Adjusted EBITDA for the January-September period grew 12.1% YoY to EUR €322.7 million.
“CTS Eventim is continuing to deliver stable growth in an increasingly volatile political and economic environment. The strategy of boosting rapid expansion and making the portfolio more financially resilient has proved to be key to our Group’s long-term performance,” said CEO Klaus–Peter Schulenberg.
The nine-month performance has led CTS Eventim to reaffirm its full-year outlook for 2024, with expectations of a significant YoY increase in adjusted EBITDA.
Listed on the Frankfurt Stock Exchange since 2000, CTS processes over 300 million tickets annually through its physical box offices and digital platforms. The company’s presence spans more than 25 countries. In 2023, it achieved total revenue of €2.359 billion.
Music Business Worldwide
