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Eventim 'Rev'enues Up

BREMEN, Germany (CelebrityAccess MediaWire) — CTS Eventim AG announced that for the year 2010, it generated EUR 519.6 million in revenue compared to EUR 466.7 million last year, according to RTTNews.

Due to the acquisition of Ticketcorner Holding AG and See Tickets Germany GmbH and the pending arbitration proceedings against Live Nation, the operating profit is temporarily reduced by acquisition/integration costs and legal consultancy expenses.

In the Ticketing segment, organic growth in the core European markets and a number of acquisitions resulted in 27.1% growth in revenue to EUR 193.9 million before consolidation between the segments, compared to EUR 152.5 million last year, according to RTTNews.

In the Live Entertainment segment, revenue improved to EUR 333.8 million from EUR 318.7 million in 2009, according to RTTNews.

— Crystal Lynn Huntoon