Joe GallopPan-European ticketing agent, promoter and venue operator CTS Eventim has announced that it generated H1 revenues of €1.021 billion (£874m) – a 39% increase compared with the same period last year.
It marks the first time the German company has generated in excess of €1bn within a six-month period.
The company’s H1 revenues from its Live Entertainment segment reached EUR €751m (£643m), up by 39% YoY. In Q2, the company’s Live Entertainment business generated €527.2 million, up 11% YoY.
CTS Eventim, which expanded into the North American market in September 2021, also reported that it generated €50m in the US H1, with revenue from the market for the year forecast to reach more than €100m.
Revenue from CTS’ Ticketing segment climbed by 41% YoY to €284.6m in H1. The company said it sold 34.3 million tickets in H1, up by 6.4 million units compared with the prior-year period, up by 22.8% YoY.
The company’s normalised EBITDA reached €170.8m for H1 – up by 39% year on year – and €94.8 million for Q2 2023, which was down by 5% YoY.
CTS EVENTIM CEO Klaus-Peter Schulenberg said, “After the market distortions caused by pandemic-related catch-up effects, we are now back to ‘business as usual’ at CTS EVENTIM. And ‘as usual’ for us means healthy organic growth and the development and expansion of new and existing business segments.”
Further evidence that the global live entertainment industry is booming was shown by Live Nation reporting a near-record $5.6 billion (£4.3bn) in revenue for Q2 – the promoter’s second-best figure ever.