ticket owner live country Not the only concert giant to have seen a huge amount increase revenue in the first quarter of 2023.
based in Munich Evening CTS reported on Thursday (May 18) that its sales skyrocketed 163% annually in the first three months of 2023, thanks to an increase in both ticket sales and the live events segment.
The company’s consolidated revenue is €366.2 million (U.S. dollar 392.93 million USD) compare to €139.2 million during the same period a year earlier, and €282.7 million in Q1 2019, the last equivalent quarter before the Covid-19 pandemic brought live events around the world to a halt. Latest results mark a 29.5% increased compared to Q1 2019.
Corporate ticketing segment created €148.3 million (159.12 million USD) in terms of revenue, increase 93.9% compared to the first quarter of 2022 and increased 43% compared to the first quarter of 2019.
Live entertainment saw revenue soar €223.8 million (240.13 million USD), increase 244% year-on-year, when many live venues in Europe remained closed due to the pandemic. Compared to Q1 2019, the latest numbers represent a 22.8% increase.
The company’s standardized EBITDA arrives at €76.0 million (81.54 million USD), upward 221% in the same quarter of the previous year.
CTS Eventim sold 18 million won online tickets in Q1, increase 58% annually from 11 million won Tickets sold a year earlier. Ticket sales increase 42% annually.
At Ticketmaster, it 145 million won ticket sales for the first quarter of 2023 represent a 30% annually increased, but ticket sales 41% higher ($677.7 million during the quarter), showing that the company is pulling in more revenue per ticket than it did a year earlier.
Overall, Ticketmaster Live Nation owners total revenue report belong to 3.1 billion USD for Q1 2023, one 73% annually increase.
CTS Eventim has a ticketing presence in 19 European countries, North America, Brazil and Israel, but its core market is Germany, where it operates. most visited online ticketing sitebefore Ticketmaster.
Company co-owned and operated several locations across Europe, including Waldbuhne in Berlin, Lanxess Arena in Cologne, KB Hallen in Copenhagen and Hammersmith Apollo in London.
“The results show that live entertainment is as popular as ever.”
Klaus-Peter Schulenberg, CTS Eventim
“In the first quarter of 2023, CTS Eventim has maintained a successful trajectory after a record year of 2022,” CEO Klaus-Peter Schulenberg said in a statement.
“The results show that live entertainment is as popular as ever… Both in Germany and internationally, we are pursuing organic growth and predict that our business will continue to be successful. “
Evening CTS give out an expansion its live entertainment segment into the Asian market in 2021, launching Eventim Live Asia in partnership with Jason Miller, former SVP for Asia at Live Nation.
That same year, the company’s ticketing department set its goal on the lucrative North American market – the world’s largest ticketing market – with the launch of eventim.com website.
The goal of the North American expansion is to “establish an alternative to the dominant suppliers in the US and Canada,” the company said at the time.
The company did not provide analytics for its operations in Asia and North America in Thursday’s release. Full results for Q1 will be announced on May 24.
All Euro to Dollar conversions have been performed using quarterly average EUR-USD figures for Q1 2023 as determined by the European Central BankGlobal Music Business
