CTS Eventim
Music’s Top Money Makers: The Highest-Paid Executives and Stockholders at Publicly Traded Companies
Kang Hyo-won is not a marquee name in the music industry. The South Korean producer is better known as Pdogg, the studio wizard behind hits by K-pop supergroup BTS and other acts on the roster of Korean entertainment company HYBE. Because Kang played a key role in HYBE’s global success, his employer gave him 128,000 stock options in 2016 that turned into about $35 million when Kang exercised them. (All currency conversions to U.S. dollars in this story are based on the average 2021 exchange rate.) That made Kang the second-highest-paid music industry executive last year among those whose earnings are publicly disclosed. Yoon Seok-jun (aka Lenzo Yoon) and Kim Shin-gyu, co-CEO of HYBE America and chief artist management officer, respectively, also benefited from HYBE going public. Yoon nette...
The Ledger: There’s Still Room for Consolidation in the Festival Market
The Ledger is a weekly newsletter about the economics of the music business sent to Billboard Pro subscribers. An abbreviated version of the newsletter is published online. For all the consolidation in the concert industry in the last decade, the festival business remains a diverse array of events operated by independent companies rather than the corporate behemoths. That’s one takeaway from Billboard’s new list of the top 50 music festivals of 2022 that considers the quality, size and cultural impact of the biggest and best events around the globe. The top 50 list is filled with potential mergers and acquisitions for growth-minded promoters: 35 of the top 50 festivals are owned by either independent promoters or, in a handful of cases, non-profit organizations. Some festivals are fewer th...
CTS Eventim Revenues Grew Nearly 60% in 2021 With Help of Economic Aid
German ticketer and concert promoter CTS Eventim generated revenue of 407.8 million euros ($449 million) in 2021 – half of which came from government COVID-19-related economic aid, the company announced Thursday (March 24). That was up 58.8% from 256.8 million euros ($283 million) in 2020 but less than one-third of its revenues of 1.44 billion euros ($1.54 billion) in 2019 and less than half of the 1 billion-plus euros it achieved in both 2017 and 2018. Ticketing revenue of 224.1 million euros was 39.7% above 126.6 million euros in 2020 but less than half of pre-pandemic levels in 2018 (447.1 million euros, $492 million) and 2019 (481.6 million euros, $530 million). The segment’s revenues were helped by 112.2 million euros ($124 million) of COVID-19 economic aid from Germany and other gove...
Jason Miller to Lead CTS Eventim’s Expansion Into Asia
Asian touring markets just got more competitive. European promoter and ticketer CTS Eventim is expanding its reach with the new Eventim Live Asia, which will be headquartered out of Singapore with industry veteran Jason Miller as its CEO. Miller previously led all touring activity for Live Nation Entertainment’s Asia and Middle East offices. He will run the division, which is focused on the rapidly growing markets in China, Japan, South Korea, Singapore, Hong Kong, Taiwan, Indonesia, the Philippines, Thailand, Vietnam and Malaysia. “I think CTS is a legitimately visionary company. They are on a roll,” Miller tells Billboard. “They have tripled their revenue in the last 10 y...
CTS Eventim’s Quarterly Earnings: Revenue Down 34.7%, Liquidity Looks Good & More Takeaways
Live entertainment revenue at the German event producer fell 40.4% due to the suspension of concerts across Europe. Europe’s coronavirus crisis took a huge toll on German event producer CTS Eventim in the first quarter, leading to a 34.7% decline in revenue to €184.6 million ($202.1 million) and clouding the outlook for the remainder of 2020. Due to countries’ suspensions of concerts and other gatherings due to the coronavirus pandemic, CTS Eventim’s live entertainment revenue fell 40.4% to €108.6 million ($118.9 million) while ticketing revenue fell 24.4% to €79 million ($86.5 million). CTS Eventim had been growing quickly until the pandemic threw the touring industry into disarray. In 2019, revenue rose 16.2%, and adjusted earnings before interest, taxes, depreciation and amortization in...
