Christopher BarrettPan-Europe ticketing giant, promoter and venue operator CTS Eventim has reported consolidated revenue up 44%, normalised EBITDA up 93% and the volume of tickets sold up 38% in the second quarter of 2022 compared to the same period in 2019
The Munich-based operation owns brands including Eventim, Ticketcorner and Ticketone, and operates several major venues in Europe including the 5,000-capacity Eventim Apollo in London.
CEO Klaus-Peter Schulenberg (pictured) said, “The impressive comeback of live entertainment is reflected directly in our business.”
CTS Eventim reported group revenue of €734.4m in the first half of 2022, up from €65.3m during the same period last year. In the second quarter of 2022 it achieved revenue of €595.1m compared to €45.7m in the equivalent period in 2021.
It said that although revenue in the first quarter of this year fell far short of the figure for the first three months of 2019 due to the wave of Omicron cases, the strong second quarter of 2022 meant that the combined figure for the first two quarters of 2022 was higher than the figure for the first half of 2019.
“Given the robust relaunch of cultural activities and live events, we are very optimistic that our industry has now finally turned the corner after two very difficult years,” said Schulenberg. “However, increasing prices, a lack of staff, the threat of an energy shortage and uncertainty about how the pandemic will unfold remind us that the long-suffering events sector has not yet emerged from the crisis. Nevertheless, we believe that CTS Eeventim is ideally placed to continue seizing opportunities in order to maintain its growth trajectory.”