The Germany-based entertainment giant CTS Eventim has announced growth in its third quarter earnings report, with revenue hitting the $2 billion mark for the first time.
CTS Eventim released its performance report from January through September 2024, which showed an increase in revenue by 15.8% from the same period in 2023, totaling around $2.11 billion. In the third quarter, revenue reached $858.26 million. Ticketing revenue during the quarter also spiked by 18.3% year-over-year with just below $215 million in sales. Additionally, ticketing EBITDA improved by 18.4% up to $250.41 million.
Earlier this year, CTS Eventim acquired See Tickets from Vivendi, though its sales only began factoring into the company’s financials earlier this year. The report noted that its other ticketing businesses — Chile’s Punto Ticket and Teleticket of Peru — performed “extremely well.”
Find the key metric indicators below:
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Revenue: €825.0m (up 13% from 3Q 2023)
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Net income: €56.0m (down 53% from 3Q 2023)
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Profit margin: 6.8% (down from 17% in 3Q 2023)
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EPS: €0.58 (down from €1.25 in 3Q 2023)
According to executives, these high numbers are due to strong ticket sales from top artists in the industry, including pop icon Ed Sheeran, the rockers of Iron Maiden, Gilberto Gil of Brazil, and Italy’s Vasco Rossi. In terms of the future, CTS Eventim expects revenue to grow 6.3% on average ovre the next three years, compared to a 6.1% growth across the entertainment industry in Germany.
