CTS Eventim Q3 Earnings: Revenue Up 4% Despite ‘Challenging Economic Conditions’ in Germany
CTS Eventim, the leading concert promoter and ticketing service in Europe, has reported impressive financial results for the third quarter of 2023, showcasing resilience in the face of challenging economic conditions in Germany. The company saw its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) increase by 13.8% to €137.3 million ($161 million), accompanied by a 3.5% rise in revenue to €854.2 million ($999 million) compared to the same quarter last year. This growth underscores the effectiveness of CTS Eventim’s strategic initiatives aimed at modernizing its technological infrastructure and optimizing operational processes, as highlighted by CEO Klaus-Peter Schulenberg. He emphasized the company’s commitment to creating long-term value through these improvements and the integration of recent acquisitions.
The financial uplift can be attributed to several factors, including cost management and synergies from recent acquisitions. In 2024, CTS Eventim expanded its portfolio by acquiring Vivendi’s festival business, which includes notable events like Junction 2 in the UK and Garorock in France, as well as the ticketing company See Tickets. These acquisitions contributed a combined revenue of €137 million ($148 million) in 2023, bolstering the company’s overall performance. The live entertainment segment reported a 5.5% increase in revenue to €663 million ($775 million), with adjusted EBITDA rising by 27% to €46.3 million ($54 million). Meanwhile, the ticketing division experienced a 2.1% revenue increase to €211 million ($247 million), despite last year’s quarter benefiting from one-time revenue related to the 2024 Paris Olympic Games. Overall, CTS Eventim’s adjusted EBITDA for the ticketing division improved by 8.1%, with the adjusted EBITDA margin climbing to 43.1% from 40.7% in the previous year.
Looking ahead, CTS Eventim remains optimistic about its trajectory, reiterating its full-year forecasts of moderate growth in both revenue and adjusted EBITDA. The company’s ability to navigate economic challenges while delivering robust financial results highlights its strategic foresight and operational efficiency, positioning it well for continued success in the competitive live entertainment and ticketing markets. As the industry evolves, CTS Eventim’s focus on modernization and integration will likely play a crucial role in sustaining its growth momentum.
CTS Eventim, Europe’s largest concert promoter and ticketing service, posted revenue and earnings gains in the third quarter despite what it called “challenging economic conditions” in its home market, Germany. Companywide adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 13.8% to 137.3 million euros ($161 million) on revenue of 854.2 million euros ($999 million), up 3.5% from the prior-year period.
Related
Q3 2025 Earnings Roundup: Here’s What Every Music Company Made (Updating)
Cristela Alonzo Announces ‘Midlife Mixtape’ Tour for 2026: Full Details
‘Weird Al’ Yankovic Rolls Out 90 New Dates for 2026 ‘Bigger & Weirder’ Tour: ‘Fans Weren’t Sick of Us Yet, So We’re Just Going to Keep on Touring Until They Are!’
“Our performance in the third quarter illustrates once again that we are not only growing but also creating long-term value,” CEO
Klaus-Peter Schulenberg
said in a statement. “In doing so, we are benefitting from continually modernising our technological infrastructure, significantly optimising our processes and making progress with the integration of our acquisitions.”
The company attributed the improvement to cost management and “growing synergies” with recent acquisitions. In 2024, CTS Eventim
acquired
Vivendi’s festival business, including Junction 2 in the United Kingdom and Garorock in France, and ticketing company See Tickets. The two acquired businesses had a combined revenue of 137 million euros ($148 million) in 2023.
In the live entertainment division, revenue rose 5.5% to 663.0 million euros ($775 million) while adjusted EBITDA rose 27.0% to 46.3 million euros ($54 million) and adjusted EBITDA margin — adjusted EBITDA as a percentage of revenue — rose to 7.0% from 5.8% in the year-ago period.
The ticketing division’s revenue rose 2.1% to 211.0 million euros ($247 million). Last year’s quarter was boosted by non-recurring revenue from the 2024 Olympic Games in Paris. Adjusted EBITDA improved 8.1% to 91.0 million euros ($106 million), and adjusted EBITDA margin climbed to 43.1% from 40.7% a year earlier.
Based on the third quarter results, CTS Eventim reiterated its full-year forecasts of “moderate” growth in both revenue and adjusted EBITDA.
