Christopher BarrettPan-Europe ticketing giant, promoter and venue operator CTS Eventim reported a 60% increase in revenue last year to €408m (£341m), up from €257m (£215m) the previous year, driven mainly by a resurgence in ticket sales, with artists such as Ed Sheeran and Genesis being among the highest earning.
The Munich-based organisation owns brands including Eventim, Ticketcorner and Ticketone and operates several major venues in Europe including the 5,000-capacity Eventim Apollo in London.
It said normalised earnings before interest, taxes, depreciation, and amortisation (EBITDA) for 2021 rose to €208m (£174m), from a previous year loss of €2.9m (£175m) thanks to cost savings, an improved operating business and extensive government aid programmes introduced in Germany and other countries. The biggest component of this aid comprised coronavirus support of around €157m (£131m) granted by the German government.
The company’s current projects include the construction of a 16,000-capacity live events arena in Milan (pictured). Due to open in 2025, the venue was designed by British architect Sir David Chipperfield and will feature more than 10,000 square metres of outdoor space for open-air events. Its inaugural event will be the 2026 Olympic Winter Games.
CEO Klaus-Peter Schulenberg said the financial results illustrate the financial stability of the organisation. More broadly he said there are “clear signs” of growing confidence within the live industry.