CTS Eventim Achieves Record €2 Billion Revenue in First Nine Months of 2024, Driven by Strong Ticketing Growth
CTS Eventim reported impressive financial growth in Q3 2024, with nine-month revenue reaching €2.03 billion ($2.11 billion), marking a 15.8% year-over-year increase.
Festival crowd at Rock am Ring
Key Financial Highlights:
- Q3 2024 revenue: €825 million ($858.26 million), up 13.1% YoY
- Ticketing revenue (Q1-Q3): €564.6 million ($587.21 million), up 22.9% YoY
- Live events revenue (Q1-Q3): €1.49 billion ($1.56 billion), up 13.6% YoY
Growth Drivers:
- Strong ticket sales from major artists (Ed Sheeran, Iron Maiden, Gilberto Gil, Vasco Rossi)
- Acquisition of See Tickets from Vivendi
- Successful integration of new festivals and events
- Exceptional early ticket sales for Rock am Ring and Rock im Par 2025
Strategic Developments:
- France Billet consolidation expected in December
- Milan arena construction progressing as planned
- New large-scale arena development underway in Vienna
Challenges:
- Live events adjusted EBITDA declined 3% YoY due to high cost pressures
- Integration expenses from newly acquired Vivendi festivals
CEO Klaus-Peter Schulenberg emphasized the company's stable growth despite volatile market conditions, citing portfolio diversification and strategic acquisitions as key success factors. The acquisition of See Tickets and strengthening of EVENTIM LIVE Group activities have established strong foundations for continued growth.
Businessman checking phone with charts
WMG stock performance chart
Hand holding tablet with analytics display
Related Articles
Diplo Revenge Porn Case Dismissed After Judge Orders Accuser Identity Reveal
