Touring
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CTS Eventim, the German concert promoter and ticketing company, surpassed 2 billion euros in annual revenue for the first time in 2023. Revenue jumped 22% to 2.36 billion euros ($2.53 billion at the average exchange rate in 2023) while normalized earnings before interest, taxes, depreciation and amortization (EBITDA) grew 32% to 501.4 million euros ($542.7 million).
Earnings per share increased by a third to 2.86 euros ($3.05) from 2.12 euros ($2.29) in 2022. In light of the record performance, the company’s executive board and supervisory board will propose at the annual shareholders meeting a dividend of 137.3 million euros ($148.7 million at the current exchange rate). The largest dividend payment in CTS Eventim history is equal to 50% of net income.
”These excellent results are proof that live entertainment is once again driving the arts and creative sectors,” said CEO Klaus-Peter Schulenberg in a statement. “We owe this primarily to the creativity of the artists who delight their fans around the world day in, day out. It is also thanks to the countless promoters who, with their boldness and entrepreneurial spirit, stage events and create unforgettable experiences. And last but not least, our team and our technologies ensure that live cultural events can thrive and that everyone involved can make a living from their work.”
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Live entertainment revenue rose 18.9% to 1.68 billion euros ($1.82 billion). The company experienced higher costs in 2023 and “partially” passed on those costs to the market, Schulenberg wrote in the annual report. As a result, normalized EBITDA dropped 1.8% to 117.0 million euros ($126.6 million). The company cited a boost it received from new North American partnerships with Mammoth and AG Entertainment, created to sign international acts for U.S. and global tours. Another collaboration, The Touring Co, a partnership with promoter Walter McDonald announced in December 2023, will help CTS Eventim’s expansion in North America in 2024.
In the ticketing segment, revenue rose 32% to 717.3 million euros ($776.4 million) and EBITDA jumped 47% to 384.4 million ($416.1 million). The number of internet tickets sold rose 19.6% to 82.9 million from 69.3 million in 2022. The company touted its ticketing platform’s reliability in handling heavy demand for concerts by Taylor Swift, Rammstein, Bruce Springsteen, Coldplay, Apache 207 and Paul McCartney. International expansion also provided a lift to ticketing growth: In 2023, CTS Eventim, along with Sony Music Latin Iberia, acquired ticketing companies Punto Ticket in Chile and Teleticket in Peru.
CTS Eventim’s annual results are further proof the concert business has been booming since COVID-19 restrictions were lifted. The company’s total revenue was 63.4% higher than in 2019, the last full year before the pandemic temporarily halted the touring industry. Last year’s live entertainment revenue was 70.1% above 2019 and ticketing revenue was 48.9% greater. While CTS Eventim has grown by nearly two-thirds since before the pandemic, its growth rate is about a third lower than Live Nation, the world’s largest concert promoter and ticketing company, which grew revenue by 93.9% from 2019 to 2023.
In 2024, CTS Eventim expects “a moderate rise” in total revenue and believes EBITDA will remain at the level seen in 2023. Demand is “rising continuously,” wrote Schulenberg, and the company expects the recent decline in inflation to provide “new, consumption-driven impetus for growth in the future.”
Shares of CTS Eventim rose 5.1% to 77.50 euros ($83.96) on Tuesday (Mar. 26). The stock gained 5.0% in 2023, slightly below the 8.0% increase of the MDAX, an index of stocks traded on the Frankfurt Stock Exchange.
Here is a recap of some financial metrics for CTS Eventim’s 2023 earnings results:
Revenue of 2.36 billion euros ($2.53 billion)
Normalized EBITDA of 501.4 million euros ($542.7 million).
Ticketing revenue of 717.3 million euros ($776.4 million) and EBITDA of 384.4 million ($416.1 million).
Concert revenue of 1.68 billion euros ($1.82 billion) and EBITDA of 117.0 million euros ($126.6 million).
The Kid Laroi is hitting the road. In celebration of his November album The First Time, the 20-year-old singer-songwriter has announced plans to embark on a North American tour, unveiling all 31 dates on social media Monday (March 25). The Australian musician will kick off the North American leg May 18 in Vancouver, B.C., after […]
UK indie promoters Communion Presents and FKP Scorpio UK have merged to form Communion ONE.
Communion was launched as a London clubnight series in 2006 by musicians Kevin Jones from Bears Den, Ben Lovett of Mumford and Sons and producer Ian Grimble. FK Scorpio was a UK affiliate of German concert promoter, founded by Folkert Koopmans in 1990.
Together, the two firms have promoted some of the biggest and most exciting artists from around the globe, from the likes of Ed Sheeran, Noah Kahan, Sam Fender, and Lewis Capaldi, to Phoebe Bridgers, Mitski, TEMS, The War and Drugs and Laufey.
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Communion ONE will be led by a board including FK Scorpio UK’s Daniel Ealam, Communion’s Mazin Tappuni and Scott O’Neill. The non-executive leadership team is formed by Communion Music’s managing director Jamie Emsell, Jones and Lovett, FKP Scorpio’s Koopmans and the promoter Carlo Scarampi as a Partner.
Communion ONE’s senior staff will be rounded out by head of operations Carly Rocket, head of marketing Julie Morgan, head of ticketing Olly Goddard, head of production Rich Cheetham, head of finance Mike Werbowy and head of programming Jack Dedman. Sam Laurence’s promotion company imprint Dollop will also be included in the company, along with promoters Eve Thomas and Hayley Moss.
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“Bringing our two brilliant teams together and combining our shared experience, resources and perspectives is the most natural thing in the world,” company officials said in a statement. “In doing so, we believe that Communion ONE is creating an even more compelling proposition for our existing and future clients. We’ve all had amazing success so far, but in many ways, we’re only just getting started.”
Communion ONE will plug into FKP Scorpio’s European touring network, with offices in 11 European countries and one of the largest festival offerings across Europe. FKP Scorpio sold 4 million tickets across Europe in 2023.
Communion ONE will also be producing a new three-night event series at Bristol’s 15,000 capacity Queen Square beginning in 2025, and will continue to book tvg hospitality’s UK portfolio and its London affiliates Lafayette, Omeara, The Social, and their new partnerships with Village Underground and EartH. The company also plans to expand its outdoor portfolio over the coming year.
Communion Presents’ sister companies, Communion Records and Communion Publishing, will continue to operate independently of Communion ONE.
Another Planet Entertainment is opening a new 2,150-capacity venue in Sacramento in early 2025, company president of concerts & festivals Allen Scott announced today (March 20), establishing a foothold in one of California’s fastest-growing metro markets. Named Channel 24 because of both its proximity to the Sacramento and American rivers, and its location on 24th […]
It’s no secret that Taylor Swift and Beyoncé staged the two biggest tours of 2023, with Swift even continuing the Eras Era throughout 2024. But not only did both artists earn record-breaking grosses and affect local economies with their treks, the stage shows also juiced each artist’s recorded music consumption.
Luminate and Billboard partnered to dig deeper into the connection between touring and streaming, capping a colossal year of headline tours. Beyoncé and Swift proved perfect examples of artists’ abilities to capitalize on their concert calendar to not only score a local bump in each city but sustain long-term national interest throughout the duration of their tours and beyond.
Both Beyoncé and Swift saw expected bumps to their consumption totals upon their respective tour kick-offs. When The Eras Tour launched, Swift’s U.S. on-demand audio streaming count increased by 59% in the week ending March 23, according to Luminate. For Beyoncé, the effects were teased out, as the tour’s first leg in Europe allowed domestic streaming to build slowly before her North American arrival. By the end of their U.S. runs, streams were up – from the week before each tour began through the release of each artist’s concert film – by 106% and 34%, respectively.
Initially, these bumps could be explained by the analysis of touring’s local short-term impact on consumption. In each city that Beyoncé and Swift played, market-level streams immediately grew by 89% and 95%, respectively, on average. But as their tours continued, isolated regional bumps compounded on one another, with particular narratives and trends aggregating to a mountain of consumption at the national level.
The mere announcement (Feb. 1, 2023) of Beyoncé’s Renaissance World Tour – coupled with the 65th Annual Grammy awards, where she did not perform but accepted two record-breaking trophies – spurred three weeks of gains, as the tour’s on-sale kept excitement alive. The beginning of Beyoncé’s domestic dates naturally fueled consumption in dramatic fashion with six consecutive weeks of increases (July 7 – Aug. 17).
Beyoncé stretched out her summer streaming bump with intention, focusing on individual moments of choreography and arrangements within the setlist. For “Energy,” a deep cut from Renaissance, she made a meal out of the lyric, “Look around, everybody on mute.” She took it literally, pausing the song and freezing alongside her dancers and band, teasing the audience before resuming, “Look around, it’s me and my crew/ Big energy.”
The Mute Challenge soon became an integral part of the show. By the time “Energy” hit its own streaming peak of 1.7 million clicks (week ending Sept. 7), it had nearly tripled its consumption from before the tour.
When Beyoncé performed “My Power,” a non-single from The Lion King: The Gift, she was joined by daughter Blue Ivy Carter on stage. Their much-memed and much-imitated dance routine entered the cannon of iconic Beyoncé choreography, with fans tracking Blue’s progress throughout the tour. The track posted explosive streaming gains over several months, ultimately up 449% by its peak (the week ending Aug. 17) from before the tour’s launch (the week ending May 4).
Spotlights for under-the-radar tracks like “Energy” and “My Power” yielded organic, drawn-out increases in consumption that snowballed alongside a parade of guest stars, controversy over the Queens Remix of “Break My Soul,” and a constant influx of social media content showcasing Beyoncé’s rotating wardrobe from local designers.
Swift’s catalog soared as soon as her tour began on March 17. Even before the July 7 release of Speak Now (Taylor’s Version), which warped her streams beyond the impact of The Eras Tour, consumption had almost doubled, at 372.9 million clicks in the week ending June 1. After the new release receded, her catalog maintained, at 391.4 million by the U.S. leg’s end in the week ending Aug. 10.
Like Beyoncé, Swift found songs within her ever-expanding catalog to highlight, particularly those that weren’t already world-conquering hits. Even with a nightly setlist of more than 40 songs, she left room each night to perform two rotating “surprise songs.” On average, the surprise songs got a 27% bump the week of their performance. Removing performances of songs from Speak Now after the release of the Taylor’s Version set, more affected by new-release streaming patterns than the typical tour impact, the average gain bumps to 31%.
After the exposure and subsequent streaming increase, the typical next-week drop was just 5%, indicating that inclusion in the surprise-song section encouraged sustained streaming action.
Within the show’s routine set pieces, Swift turned a fan-favorite into a Billboard Hot 100 No. 1 hit. Lover’s “Cruel Summer,” from 2019, was the first properly performed song each night at The Eras Tour, helping to reignite Swifties’ passion for the album cut. Without an official music video or announcement, even as Swift launched the 2022 Midnights track “Karma” as a single with its Ice Spice remix, “Cruel Summer” showed unstoppable growth from the tour’s launch. Steady between 1.9-2.1 million streams in the early months of 2023, the song ballooned to 16.7 million by the final U.S. show (in the week ending Aug. 10).
The prolonged championing of “Cruel Summer” and the one-after-another success of Swift’s surprise songs underlined The Eras Tour’s ability to transform her from superstar to stratosphere. Her relationships, philanthropy and seemingly every move during the tour continued to fuel her consumption, consistently more than double the streams she drew from earlier that year.
Both Beyoncé and Swift extended their good fortunes with the release of record-breaking concert films, each delivering profits for distributor AMC and more consumption boosts for their catalogs. The seeds they planted with “Energy, “Cruel Summer” and more took full bloom, even inside movie theaters, with audiences singing and dancing along — except when they had to be on mute.
Months after each tour wrapped in the U.S., Renaissance: A Film By Beyoncé scored the pop-dance-R&B(-country) chameleon a streaming increase of 54% the week of its Dec. 1 release, while Taylor Swift: The Eras Tour earned its once-country-now-pop star a 20% boost upon its Oct. 13 release.
Beyoncé and Swift are, of course, enormous stars that were likely to attract some amount of attention for going on tour even if they didn’t plan and work for these kinds of long-term rewards. But this kind of long-term, national growth isn’t only reserved for top-of-the-line megastars, as Maluma, ODESZA and Weezer experienced similar touring impact last year.
Both five years removed from their last stadium tours, Beyoncé and Swift designed their shows for maximum impact and staged campaigns that turned each trek into an era of its own.
Click here for more on the symbiotic relationship between touring and streaming.
The Oak View Group (OVG) will soon enter a key phase of its long-planned pivot to international markets with the opening of Coop Live in Manchester, United Kingdom, next month.
After its record post-pandemic run — which included opening seven arenas in 16 months, including Climate Change Arena in Seattle, UBS Arena in New York and Acrisure Arena in Palm Springs, Calif. — the Tim Lewieke-led management and development company will transition from U.K. venue developer to U.K. venue operator in one of Europe’s largest concert and live entertainment economies.
First Manchester, then the world, says Francesca Leiweke-Bodie, OVG’s COO (and Leiweke’s daughter). She explains the United Kingdom will be the launch point for expanding the company’s private-public partnership model, which looks to government groups to aid in land acquisition in exchange for fully private financing and development work. Leiweke-Bodie says the model is key to driving expansion opportunities into Africa, Asia and the Middle East, where huge gaps in the world’s touring infrastructure prevent popular arena and stadium tours from accessing hundreds of millions of fans.
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Billboard recently caught up with Leiweke-Bodie to discuss the opening of Coop Live and detail OVG’s near-term expansion plans around the globe.
Why did OVG decide to begin their international expansion efforts with the Manchester project?
London and the U.K. have always been a frontrunner for where we as a company want to plant a flag and show the other countries and municipalities that we’re speaking to about public-private partnerships and prove what is possible when the private sector can step in and invest. That doesn’t happen as much overseas, where the market is really heavily driven by municipal financing. Having this project in the U.K., a $375 million privately funded arena with huge community support and more than $1 million going back to the local business — when other potential partners come to Manchester and see what we are doing, there is no doubt that we’re the real deal and will deliver on our promises.
What’s the biggest challenge OVG faces in its efforts to expand internationally?
I think the hardest thing to come by, whether it’s domestically or internationally, is land. We want to build in the urban core. We want to be where the fans want to be — in the city centers. We can do everything else. We’ll build it. We’ll finance it. We’ll book it. We’ll take the risk. But the partnership that we’re always looking for is the land opportunity. Most of these cities are much older than the United States with dense urban cores that we can’t even fathom. To find four or five acres available to build these types of projects with access to public transit is the crux of what we’re trying to create with these city partnerships. There’s also inbound opportunities from local owners and developers that see an opportunity to take land that they might have identified for retail and say, “Let’s rethink this.”
Once the Manchester facility opened, what’s next for OVG?
Hamilton, Ontario is next. It’s an existing 18,000-seat arena we’ve already started work on, taking the building down to its studs and [which] will reopen in late April. It’s the first project in Toronto that was a public-private partnership and ultimately became a renovation project, but it’s effectively a new arena. In North America, there’s only a few strategic markets left where one could make a really big difference with another arena. But overseas, we have a tremendous amount of opportunity because of the growth internationally of global music, from American country music to Latin.
What other metropolitan characteristics appeal to OVG?
Countries or cities that not only attract from surrounding countries but serve as the point of destination for a much broader area. One example is Sao Paulo in Brazil. From a financial perspective, Sao Paulo is an incredible point of destination for not only Brazil, but for Latin America. That’s why we want to plant our flag there because it doesn’t have an arena. Vienna, Austria is the same thing. You know, it is central to continental Europe. You can get to it from six different countries via car. We have about two dozen cities like that we’ve identified.
How does programming and booking drive the OVG strategy?
That’s such a key element. The first domino that we were really thinking about and analyzing from a construction and design perspective is making sure that the building is both turnkey and equipped with all acoustic treatments and back-of-house amenities to accommodate major tours. We talk to local promoters, and figure out what is coming in the rider and work with our partners at the building to alleviate costs. Arenas have to compete with the stadium shows and we have to make the economics work so we’re really looking at the take-home revenue for an artist to make sure that their touring costs are competitive and can exceed the expectations of fans and market partners.
Eight months following an abrupt halt due to “excessive crowds” at Central Park’s SummerStage, Juanes made a grand return to New York City, delivering an unforgettable performance at Radio City Music Hall on Thursday (March 15).
“I can finally see your faces since the last time I was here [in New York] at SummerStage,” Juanes said during his show, reflecting on the history-making moment when, for the first time in 30 years, SummerStage had to stop an ongoing concert because of a non-weather-related problem. “My heart is full thanks to you; I am very happy to be here.”
The sold-out Radio City performance was highly anticipated after the overwhelming attendance of more than 17,000 fans at the Central Park SummerStage in July, which was called off last minute due to “excessive crowds.” Fans in NYC were finally able to see Juanes’ full show Thursday, when he performed some of his greatest hits and tracks from his Grammy and Latin Grammy award-winning 10th studio album, Vida Cotidiana, released in May 2023.
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The Colombian rockstar, clad in black and wearing a denim vest that showed his arm tattoos, kicked off with “Gris” and followed with his classic “Mala Gente” — the only two songs he played in Central Park last year before his show was shut down — electrifying the 6,000-strong crowd at Radio City.
A particularly memorable moment was the medley of “Lo Que Me Gusta a Mí,” “Fuego” and “Hermosa Ingrata,” during which he seamlessly mixed rhythms and melodies. The acoustic version of “Para Tu Amor” stood out as he came off stage to perform it among the audience, creating an intimate and personal atmosphere.
The concert setlist wove a narrative through Juanes’ discography, touching on themes of love, social reflection and personal introspection. Among the most chanted songs were the heartfelt “Amores Prohibidos,” “Nada Valgo Sin Tu Amor” and also the mega catchy “La Paga” and “La Camisa Negra,” during which he showed off his unmistakable guitar riff.
Juanes closed the night with Juan Gabriel’s “Querida,” “Me Enamora” and “La Luz,” encapsulating the essence of his artistry and the connection he shares with his fans.
The Vida Cotidiana USA and Canada Tour, produced by Live Nation, began on Feb. 13 in Portland, Ore., and will end on March 30 in Hollywood, Fla. Upcoming cities include Los Angeles, San Diego, Las Vegas, Chicago, Montreal, Toronto, Houston, Dallas, Boston and more.
Meghan Trainor is all new, unveiling a fresh single, album announcement and tour dates Thursday (March 14) — but somehow, she’s staying timeless at the same time. The Grammy winner revealed that her sixth studio album, Timeless, is set to arrive June 14 via Epic Records, sharing the album cover — on which she poses […]
D.C. Stadium LLC and Grand Rising Curations today announced a multi-year partnership that will expand Audi Field into a Sports & Entertainment complex primed to host concerts and festivals in the Nation’s Capital. Explore Explore See latest videos, charts and news See latest videos, charts and news The deal between D.C. Stadium LLC and Grand […]
AEG Presents, the second biggest live events company in the world, and powerful Latin entertainment company Cárdenas Marketing Network (CMN), have partnered in a deal that will combine both companies under one roof. The partnership, in which AEG acquired an undisclosed stake in CMN and which AEG Presents chairman and CEO Jay Marciano describes as a “full partnership,” will explosively boost AEG’s Latin music business and is AEG’s first Latin partnership of this scope.
CMN ended 2023 at No. 4 on Billboard’s Top Promoter chart, and in 2022, it was No. 3, an enormous achievement for an independent company that CMN founder and CEO Henry Cárdenas self-describes as a “boutique concert promoter.” But it’s a very powerful boutique operation, with a slate that included Bad Bunny’s stadium tour in 2022 and currently Luis Miguel, Marc Anthony and Don Omar, among many other.
On its end, AEG is of course the powerhouse company behind Taylor Swift’s global tour and culturally-defining events like Coachella. Latin, however, was not its strong suit, although it promoted Karol G’s arena tour in in 2023. Now, AEG will have the Latin clout while CMN while have the global reach, and both companies will work together to create elevated and expanded experiences for artists and fans, with each benefitting from the complementary strategic alliance.
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“We are excited to partner with AEG Presents, one of the most powerful global forces in live entertainment. Together we look forward to making an even greater impact on the explosive growth in the Latin market,” said Cárdenas in a statement.
In an exclusive interview with Billboard, Cárdenas added: “We wanted to be bigger and more global. AEG is a giant company that also has venues and I’ve known Jay Marciano for 40 years, since he was president of Radio City Music Hall and Madison Square Garden. Jay knows who I am, and I know who he is.”
Marciano added: “Henry is a true entrepreneur and visionary, and what he and his team have built is simply awe-inspiring. We have been looking to expand our presence in Latin music and concerts for quite some time, and it was important that we took the time to find the right partner; we found it in Henry and CMN.”
The partnership between AEG and CMN has been actively in the works for approximately six months, but it was in both Cárdenas’ and Marcianos’ minds long before then.
“I feel like I’ve been chasing Henry for 40 years,” laughs Marciano. “It’s like the girl I’ve been chasing forever, and she finally said yes […] Henry was in Latin music way before any of us figured out it was an industry. Timing is everything. And I think the timing for us and for him finally, after all these years, aligned perfectly.”
Cárdenas has been in Latin music promotion for 44 years. In 2001, he sold CFA (Cardenas, Fernandez & Associates) — which at one point was the biggest Hispanic-owned event-promotion company in the U.S. — to Clear Channel Entertainment and Grupo Televisa. In 2004, he launched CMN on his own and quickly grew it all over again, eventually becoming the top Latin promoter in the country. In all his years of operation, he says, he has never lost money, save for during the pandemic.
“I’m a boutique concert promoter. I take care of my business. My tours have to be profitable, and we take care of each tour,” he says, emphasizing that his is not a cookie cutter approach to concert promotion.
However, Cárdenas also wanted to grow and become more global and in 2019, he acquired Arena Bogotá in Colombia. At this point, merging made sense, especially with a company like AEG, which has assets and artists that Cárdenas can work with in Latin America, and likewise, offers Cárdenas’ artists an entree into other markets.
The key, however, was the relationship with Marciano.
“It’s about people in this business,” says Marciano. “If you don’t have the right people, chances are you won’t be successful. With Henry we knew he had the foundation for decades and he could teach us a lot that we were missing.”
Cárdenas and Marciano had initial conversations several years back, at which time Marciano said: “Henry, I’m not going to hound you. But come the day you feel we’re better together than apart, give me a call.”
Last year he did, and conversations began in earnest.
“I think Henry believes Latin music is not just becoming big in North America but has the potential to become big in Europe and Asia and Australia and he can use our expertise and local offices,” said Marciano. “And we can also use his help because he understands the part of Latin music we’re just getting familiar with.”
Cárdenas will now take over AEG’s Latin activity and touring roster, which includes Carin León. In the spirit of AEG’s existing partnerships, such as the Messina Group or Golden Voice, Cárdenas will run the business, and make decisions on which artists and tours to bring to the business.
“I told Jay, ‘This needs to be fun. If it’s not going to be fun, it’s not interesting.’ I want to run CMN like I’ve always done,” says Cárdenas.
The AEG-CMN merger follows the 2021 acquisition of Mexican concert promoter OCESA Entertenimiento by Live Nation for $416 million for a 51% interest in the company.
No amount or stake percentage was disclosed for AEG’s purchase of CMN. But, says Marciano, “I think I have the Latin partner That I always wanted.”