Adjusted EBITDA rose 7.7% YoY<\/span><\/strong> to \u20ac584 million ($660 million<\/strong>), and the adjusted EBITDA margin stood at 19%<\/strong>.<\/p>\n CTS, which describes itself as the number one for ticketing and live entertainment in Europe and number two worldwide (behind Live Nation), said the FY revenue growth was driven by international expansion, the scaling of its technology platform, and “consistently high demand” for live events.<\/p>\n Across the 12 months to the end of December 2025, the company’s live entertainment segment generated revenues of \u20ac2.152 billion ($2.43bn<\/strong>), up 9.2% YoY,<\/span><\/strong>\u00a0to cross the \u20ac2 billion mark for the first time, with an adjusted EBITDA margin of\u00a06.1%<\/strong>.<\/span><\/p>\n Full-year revenues<\/em> within the company’s ticketing segment, meanwhile, grew 11% YoY<\/strong><\/span> to \u20ac977.1 million ($1.1bn<\/strong>), with an adjusted EBITDA margin of 46.4%<\/strong>.<\/p>\n The volume<\/em> of tickets sold by the company\u00a0increased by 30.7 million<\/strong> tickets to 177.9 million tickets,<\/strong> up from 147.2 million<\/strong> tickets in the previous year.<\/p>\n CTS noted that the retail ticket volume includes all tickets sold through the wider company, both through “all group-owned sales channels and through partner shops operated by the group”.<\/p>\n CTS added that the increase in retail ticket volume was, in particular, “the result of presales for future concerts held by international top artists”.<\/p>\n It was also boosted by the first full year of consolidation of See Tickets<\/a> and France Billet<\/strong>, the ticketing company in which CTS Eventim\u00a0took a minority stake<\/a>\u00a0in 2019. In late 2024, CTS\u00a0acquired<\/a>\u00a0an additional\u00a017%<\/strong>\u00a0stake, giving it majority control.<\/p>\n Around two-thirds of CTS Eventim’s retail ticket sales are now generated in markets outside of its home market of Germany.<\/p>\n The company’s group revenues in the fourth quarter of 2025 grew 19.2% YoY<\/strong> <\/span>to \u20ac930.9 million ($1.05bn).<\/p>\n Adjusted EBITDA in Q4 rose 12.2% YoY<\/strong><\/span> to \u20ac246.2 million, with a margin of 26.4%.<\/p>\n Live Entertainment revenues in Q4 surged 24.6% YoY<\/strong><\/span> to \u20ac594.7 million, with adjusted EBITDA up 15.5% YoY<\/strong><\/span> to \u20ac50.3 million<\/strong> and a margin of 8.5%.<\/p>\n Ticketing<\/em> revenues in Q4 grew 11.1% YoY<\/strong><\/span> to \u20ac350.3 million,<\/strong> with adjusted EBITDA up 11.4% YoY<\/strong><\/span> to \u20ac195.9 million and a margin of 55.9%.<\/p>\n Despite the strong top-line results, CTS Eventim’s stock has fallen more than 21% since the results were published, dropping from around \u20ac64 to around \u20ac50 on Tuesday (March 31), giving the company a market capitalisation of around \u20ac4.8 billion ($5.1bn).<\/p>\n The sell-off was triggered by a combination of factors. CTS guided for revenue and adjusted EBITDA to come in at or only slightly above 2025 levels \u2014 well below the roughly 11% EBITDA increase analysts had been forecasting.<\/p>\n New CFO William Willms, who joined in January 2026, also disclosed that a long-term ticketing contract had expired, creating a structural earnings headwind for 2026 \u2014 but declined to quantify the impact, citing confidentiality.<\/p>\n Investors were further rattled by the ballooning cost of the company’s new Milan arena.<\/p>\n According to Investing.com<\/em><\/a>, citing a Barclays research note, the Unipol Dome Milano Santa Giulia may have cost close to \u20ac400 million ($452m<\/strong>) in total \u2014 more than double the \u20ac180 million originally budgeted when the project was announced.<\/p>\n Willms said on the earnings call that the final net cost still depends on various components, including the subsidies the company expects to receive.<\/p>\n The same Investing.com report noted that CTS Eventim’s free cash flow fell to just \u20ac1 million for the year, down from \u20ac275 million in 2024, largely due to the arena spending.<\/p>\n The Milan arena, which opened in early 2026 for the Olympic and Paralympic Winter Games, is planned to host around 50 shows this year.<\/p>\n The venue business now contributes roughly 40%<\/strong> of CTS Eventim’s live entertainment segment EBITDA at a margin of around 46%<\/strong> \u2014 comparable to ticketing.<\/p>\n On the earnings call, Willms struck a more bullish tone on the company’s longer-term prospects, pointing to the scale of CTS Eventim’s ecosystem \u2014 more than 260 million<\/strong> user profiles, 7.6 billion<\/strong> digital touchpoints, and over 1 million<\/strong> events marketed across 30 countries in 2025.<\/p>\n He highlighted the Ed Sheeran<\/strong> tour, which reached over 1 million<\/strong> fans and generated revenues of around \u20ac100 million ($113m<\/strong>), and sold-out anniversary editions of Rock am Ring and Rock im Park, which drew a combined 180,000<\/strong> fans.<\/p>\n He also announced CTS Eventim’s first-ever Capital Markets Day, to be held at the Unipol Dome in September.<\/p>\n “Within seven financial years \u2014 excluding the pandemic years \u2014 our revenue has roughly tripled… We are excellently positioned for the next phase in our company’s development.”<\/p>\n KLAUS-PETER Schulenberg, CTS EVENTIM<\/span><\/p><\/blockquote>\n Klaus-Peter Schulenberg, CEO of CTS Eventim, was similarly upbeat in the company’s press release.<\/p>\n “In 2025, we continued to pursue our growth strategy with determination and surpassed the \u20ac3 billion mark for the first time,” he said.<\/p>\n “Within seven financial years \u2014 excluding the pandemic years \u2014 our revenue has roughly tripled. We are investing in the expansion of our platform, in technology, data and AI. Also in strengthening our live entertainment and venue business. We are excellently positioned for the next phase in our company’s development.”<\/p>\n Separately, CTS Eventim announced earlier this month that its promoter group EVENTIM LIVE had partnered with veteran French promoter Pierre-Alexandre Vertadier to launch PAV Prod, a new promoter and production company focused on the French live market.<\/p>\n Vertadier previously spent twelve years at D\u00e9cibels Productions, owned by Warner Music France.<\/p>\n","protected":false},"excerpt":{"rendered":" Germany-headquartered company reported its Q4 and FY annual results on Thursday (March 26)<\/p>\n","protected":false},"author":7380,"featured_media":254342,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[495,133227],"class_list":["post-254240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-cts-eventim","tag-klaus-peter-schulenberg"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts\/254240","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/users\/7380"}],"replies":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/comments?post=254240"}],"version-history":[{"count":14,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts\/254240\/revisions"}],"predecessor-version":[{"id":254366,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts\/254240\/revisions\/254366"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media\/254342"}],"wp:attachment":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media?parent=254240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/categories?post=254240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/tags?post=254240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}FY Live entertainment segment results<\/span><\/h6>\n
\n![](\"https:\/\/www.musicbusinessworldwide.com\/files\/2026\/03\/cts-eventim-annual-revenues.png\")
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\nFY ticketing segment results<\/h6>\n
Q4 2025 RESULTS<\/h6>\n
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