Placeholder canvas
Wednesday, April 17, 2024
HomeBusinessCTS EVENTIM's European concert and ticketing revenue reaches €1bn in H1 2023.

CTS EVENTIM’s European concert and ticketing revenue reaches €1bn in H1 2023.

Live music companies, including Live Nation and CTS Eventim, are experiencing a surge in revenue, highlighting the booming global concerts business. Live Nation reported Q2 revenues of $5.6 billion, a 27% increase compared to the previous year. Similarly, CTS Eventim generated H1 revenues of EUR €1.021 billion, a 39% increase from the prior-year period. Notably, this marked the first time the company surpassed €1 billion in revenue within a six-month period.

Looking specifically at CTS Eventim’s results, their Live Entertainment segment generated EUR €751 million in H1, a 39% YoY increase. In Q2, the Live Entertainment business brought in €527.2 million, an 11% YoY growth. CTS Eventim also expanded into the North American market in 2021 and expects to generate over €100 million in revenue from the US market this year.

Additionally, CTS Eventim experienced significant growth in its Ticketing segment, with revenue climbing 41% YoY to reach €284.6 million in the first half of 2023. The company sold 34.3 million tickets during this period, a 22.8% YoY increase. Comparatively, Live Nation-owned Ticketmaster sold 151 million tickets by the end of June, marking a 22% YoY growth. CTS Eventim’s headcount also increased from 3,190 employees in H1 2022 to 3,469 employees in H1 2023.

CTS Eventim CEO Klaus-Peter Schulenberg attributes the company’s strong and stable growth to the breadth and depth of their portfolio and successful internationalization efforts. Despite the challenges brought by the pandemic, CTS Eventim remains on track for healthy growth and continues to outperform pre-pandemic levels.

Source link

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments