CTS Eventim AG & Co. KGaA are creating a new 50:50 partnership with the U.S. promoter Michael Cohl to create tours across the globe.
Throughout the partnership, Cohl will add his business and comprehension network, while CTS Eventim will provide full access to the Eventim LIVE network, ticketing platform, and its full portfolio of products and services around live events. This will be a milestone for Eventime LIVE, as the partnership will provide a global live entertainment platform from concept creation to promotion of world-class content.
CTS Eventim and Cohl now both hold 50 percent of the shares in the new company, while CTS Eventim is consolidating revenues and earning revenues and earnings, according to the IFRS, while holding a controlling interest. Cohl and Glenn Orsher will lead the company, based in New York City.
This is the latest news for CTS Eventim; earlier this year, the company announced a 60 percent stake in Swiss promoters Gadget Entertainment and wepromote Entertainment Group Switzerland AG. In doing so, the businesses will now operate post-merger as Gadget abc Entertainment Group AG. Through the acquisition, the European ticketing company will add an estimated 400-500 live events to its annual calendar including international festivals Unique Moments, SumerDays, and Open Air.