The music industry shouldn’t sleep on the rapid growth of concert promoter and ticketing company CTS Eventim.
The Munich-headquartered company posted €1.44 billion in revenue in 2019, more than three times its turnover a decade before (2009: €467m).
Now, as the firm looks to bounce back from a pandemic-hit year in 2020, it’s made a major global move – launching Eventim Live Asia (ELA) in partnership with Jason Miller.
Miller is the former SVP of Asia for Live Nation, where he spent over 7 years. He is estimated to have produced 80% of the past decade’s highest-grossing Asian tours for western artists, including Bruno Mars, Coldplay, Madonna, Maroon 5, U2, and many others.
CTS Eventim isn’t being drawn on the balance of equity in Eventim Live Asia held between itself and Miller, but has confirmed the new Singapore-based JV is being set up as a “true partnership”.
Today’s news comes a year after after CTS Eventim announced a 50-50 company launch with legendary North American promoter, Michael Cohl, to help accelerate its business in the US and beyond.
CTS Eventim’s Chief Exec, Klaus-Peter Schulenberg, said today’s launch of Eventim Live Asia “marks another key milestone in achieving our strategic objective of offering tours and ticketing around the world”.
He added: “This is a further sign that, as announced, CTS Eventim will emerge from the coronavirus crisis with renewed strength.”
‘With this launch in Asia, CTS Eventim is as much a global touring company as anyone in the world’
Speaking to MBW, Jason Miller said: “CTS Eventim is legitimately a visionary company, and it’s on a roll. Take a look at their growth over the last ten years: they’ve nearly tripled revenue, and literally doubled it in just the four years leading up to Covid.
“They’ve done that with a unique combination of organic growth, as well as by partnering with or acquiring the best executive talent, and companies, in a string of new markets. Their model is working.”
Miller said that Eventim Live Asia expects to operate within around a dozen individual markets in Asia.
“One thing that I’ve learned the past few years is that the smartest and most visionary agents and managers are not waiting to think about Asia as an afterthought to a large tour,” he commented.
“It’s a massive opportunity to build and cement an artist career, with passionate new fans. 60 percent of the world’s population is in Asia. How can any artist who is serious about their career, and their future, not make Asia a priority?”
“CTS Eventim is legitimately a visionary company, and it’s on a roll. Take a look at their growth over the last ten years: they’ve nearly tripled revenue, and literally doubled it in just the four years leading up to Covid.”
Jason Miller, Eventim Live Asia
Obviously, Eventim Live Asia faces some uncertainty regarding the lifting of Covid restrictions in the region. Countries such as Thailand, South Korea, and Vietnam have this month imposed strict restrictions on their populations, as they experience their first major surges of coronavirus cases.
“I think the first order of business is making sure we can host world-class, safe tours across most if not all of the region,” Miller told MBW. “It takes a long time to put together a blockbuster tour in Asia, so we’re working now with our eyes on 2022 for some breakthrough shows.
“In terms of the potential, it’s increasingly obvious that Asia is a huge part of any successful future for the global music business. We’re excited to be building in this space.”
“It’s increasingly obvious that Asia is a huge part of any successful future for the global music business. We’re excited to be building in this space.”
Jason Miller, Eventim Live Asia
And discussing CTM Eventim’s ability to compete with the likes of Live Nation and AEG on a global scale, Miller added: “Having a legitimate third global option should be great for artists.
“It’s exciting that ELA is going to play a leadership role in that equation. Don’t take my word for it: go ask managers and agents if they’d prefer to have three bids instead of two.
“With this launch in Asia, CTS Eventim is as much a global touring company as anyone in the world.”
Prior to his time at Live Nation, Miller worked at Creative Artists Agency (CAA), where he played a key role in the career development of Beyoncé, Jimmy Fallon, Kanye West, Stevie Wonder, and many more.
Miller received a duel MBA from UCLA and the National University of Singapore.Music Business Worldwide