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CTS Eventim has reported that consolidated revenue growth in the second quarter of 2024 was much stronger for the group than in the first.
The latest financial figures also included See Tickets’ activities for the first time after Eventim acquired the business from Vivendi. The deal was completed in June.
Consolidated revenue for the second quarter amounted to €793.6m (£674m/$881m), a 21.2% increase on the prior-year period. This is also a jump on the 11.6% growth experienced by the group in the first quarter of this year.
Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) reached €110m in the second quarter, and is growing at a faster rate than consolidated revenue at 23.3%.
For the first six months of 2024, consolidated revenue amounted to €1.2bn (+17.7%) and adjusted EBITDA came to €202m (+28.9%).
The ticketing segment grew by 28.5% in the second quarter to reach €175.2m, while adjusted EBITDA increased by 35.1% to total €73.4m during the same period. For the first six months of this year, revenue for Eventim’s ticketing segment increased by almost 26% and totalled €358m. Adjusted EBITDA grew by 29.5% to reach €156.6m.
Live entertainment brought in €631.1m in the second quarter and adjusted EBITDA rose by 5% to total €36.6m. For the first six months ending June 31, total revenue for the live entertainment segment amounted to €856.6m, an increase of more than 15%, and adjusted EBITDA came to €45.6m, an increase of 26.9%.
“Our performance in terms of growth and earnings has been excellent in the second quarter of 2024. As announced, we will achieve further growth this year, both organically and through a successful acquisition,” commented Klaus-Peter Schulenberg, chief executive of CTS Eventim.
“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. 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.”
CTS Eventim’s financials correlate with the success of major partnerships this year, such as the ticketing operations deal with the Paris 2024 Olympic and Paralympic Games. Eventim will also power ticket sales alongside AXS for the Los Angeles Games in 2028.
Additionally, Eventim reported that the new Arena Santa Giulia in Milan is still on track ahead of the 2026 Winter Olympic Games.
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