Ticketing and live entertainment giant CTS Eventim has posted Q1 revenues of €282.7 million, up 3% year-on-year from €274.5m in 2018.
In the same period, the company’s normalized earnings before interest, tax, depreciation and amortization (EBITDA) increased by 3.1% to €57.1m.
The ticketing and live entertainment segments of the company’s business contributed to this growth.
Q1 ticketing revenue rose by 2.6% to €104.5m, with CTS Eventim reporting12.7m ticket sales through its own web shops in the first three months of 2019, up 4.3% from the previous year.
“Our outlook for the full year remains positive, not least because of this added momentum.”
Klaus-Peter Schulenberg, CTS Eventim
CTS Eventim also achieved growth in Live Entertainment, with revenue up by 4.1% to €182.2m.
The company has said that Q1 2019 was negatively impacted by start-up costs for the Doctor Music Festival, which made its comeback in Barcelona this year after a 21-year break.
At the beginning of March, CTS Eventim pooled its promoter activities in the London-headquartered pan-European network Eventim LIVE, which currently comprises 26 promoters in ten countries.
Klaus-Peter Schulenberg, CEO of CTS Eventim (pictured), said: “CTS Eventim has delivered a successful start to the year.
“As expected, our Ticketing business did not grow as strongly at the beginning of the year as it did in the very successful first quarter of 2018.
“Meanwhile, our revenue growth is fuelled by both segments, and has accelerated in the second quarter, especially in Ticketing.
“Our outlook for the full year remains positive, not least because of this added momentum.”Music Business Worldwide