The live entertainment German-based company CTS Eventim reported an increased consolidated revenue growth in the second quarter of 2024 amid the acquisition of See Tickets.
According to the company, consolidated revenue for the second quarter amounted to €793.6 million, marking a 21.2% increase from the same period a year prior. Additionally, this number showed a jump of 11.6% from the first quarter of 2024. Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) also increased at a faster rate than consolidated revenue at 23%, reaching €110 million, while consolidated revenue totaled €1.2 billion for the six months of the year.
“Our performance in terms of growth and earnings has been excellent in the second quarter of 2024,” Klaus-Peter Schulenberg, chief executive of CTS Eventim, said in a statement. “As announced, we will achieve further growth this year, both organically and through a successful acquisition.”
Earlier this year, CTS Eventim completed its acquisition of Vivendi’s festival and international ticketing businesses, including See Tickets. The deal, totaling €300 million, was revealed after both CTS Eventim and AEG announced they were in the running to purchase the No. 2 ticketing provider in the U.K. Now, CTS Eventim owns See Tickets — which operates in Belgium, Denmark, Germany, the Netherlands, Portugal, Spain, Switzerland, and the U.S. — as well as parts of Vivendi Village, which includes London’s Junction 2 and Garorock in France.
“Through See Tickets and its associated live entertainment activities, we have not only enhanced our market position in two of our focus markets – the UK and the US – but also expanded our team to include additional highly motivated and highly qualified units,” Schulenberg said. “Combined with the innovative technologies and solutions that we have acquired, this is a valuable asset for our company and opens up even more scope for international expansion going forward.”
In addition to See Tickets, CTS Eventim also made moves in 2024 scoring a deal with the Paris 2024 Olympic and Paralympic Games, as well as the ticket provider for the Los Angeles Games in 2028.
Find CTS Eventim’s full 2024 Quarter 2 earnings report here.
