Ticket marketer
Eventim increases sales also thanks to Ed Sheeran
The ticket marketer from Munich increased sales significantly in the third quarter thanks to big stars. However, the operating result went downhill.
The singer Ed Sheeran and the band Iron Maiden contributed to the increase in sales of the ticket provider CTS Eventim in the third quarter. Revenue between July and September rose by around 13 percent compared to the previous year, as the MDax group, headquartered in Munich, announced. Eventim grew more strongly in the ticketing segment, which includes the ticket business, than in the live entertainment segment, which covers tours, events and festivals.
Operating earnings before interest, taxes, depreciation and amortization (Ebitda), adjusted for special effects, fell by around eight percent to 120.6 million euros in the third quarter compared to the previous year. Eventim points to the weak festival business and upfront costs for planned events in the USA. In the first nine months of the year, the bottom line for CTS Eventim shareholders was 181.2 million euros, around eleven percent less than in the same period last year. The company is sticking to its forecast and expects a significantly higher result for the year as a whole compared to the previous year.
Eventim describes itself as the leading ticket provider in Europe. The company’s important locations are Bremen and Hamburg. According to the 2023 annual report, Eventim employs around 4,000 people.
dpa
Source: Stern
