BREMEN, Germany (CelebrityAccess) — CTS Eventim exceeded €1 billion in revenues for the first time ever after the German live entertainment group’s revenues grew 24.6% in 2017.
Eventim’s total revenue for 2017 totaled €1.034bn, up from €829.9 million in 2016, driven by a strong performance in both ticketing and events, although the latter accounted for the lion’s share of growth.
Ticketing revenue grew 5.9% to €418.4m (2016: €395.1m), while live entertainment increased a huge 42.7%, to €439.2m, boosted by “the strong growth of FKP Scorpio”, in which CTS has held a majority stake since January 2017, and a “greater number of tours and events attracting large audiences”, including the inaugural New Horizons dance music festival at the Nurburgring, a joint venture with the Netherlands’ Alda Events.
Eventim’s group EBITDA also improved for the year, (earnings before interest, taxes, depreciation, and amortization), which increased 5.3% to €204.7m, and consolidated net income, which rose 19.3% to €112.8m.
In total, the company sold more than 250 million tickets in 2017, including 150m for live events and 100m for cinema shows.
“We are absolutely delighted that this [€1bn] record is accompanied by a whole string of other positive developments,” Eventim CEO Klaus-Peter Schulenberg told investors. “These include the growth of our online operations, our international expansion and the creation of new event formats like the New Horizons festival.”
Looking to 2018, the company says it expects, “assuming stable macroeconomic trends”, continued growth in revenues and EBITDA.