Klaus-Peter Schulenberg, founder and CEO of CTS Eventim
Munich, Germany (CelebrityAccess) — CTS Eventim announced solid growth in the company’s second fiscal quarter of 2024, with revenue growing 21.2% and adjusted EBITDA growing 23.3% annually.
Revenue from Eventim’s ticketing division increased by 28.5% in the second quarter to 175.2 million euros. Adjusted EBITDA increased by 35.1% during the same period, reaching 73.4 million euros.
Eventim’s live entertainment business revenue increased 19.7% in the second quarter to 631.1 million euros. Adjusted EBITDA grew 5.0% to 36.6 million euros during the same period.
For the full half-year, consolidated revenue exceeded €1.202 billion and the company reported adjusted EBITDA of €202.2 million (+28.9%).
In the first six months, the live entertainment division’s revenue amounted to €865.6 million (+15.2%) and adjusted EBITDA was €45.6 million (+26.9%).
CTS Eventim’s ticketing division’s half-year performance revenue was 358 million euros (+25.8%) and adjusted EBITDA was 156.6 million euros (+29.5%).
According to Eventim, the growth was driven by strong touring business, which included concerts by Bruce Springsteen in Spain and concerts in Italy by Ultimo, Pinguini Tattici Nucleari and Max Pezzali.
Results were also boosted by tickets for the 2024 Paris Olympic and Paralympic Games and a string of successful music festivals such as Rock am Ring, Rock im Park, Hurricane, Southside and Nova Rock.
