Eventbrite said growth in paid tickets and success outside the US contributed towards improved revenue and earnings figures in the final quarter of 2021. In a trading update for the three-month and full-year periods to the end of December 2021, the group said it had generated quarterly net revenue of $59.6m. This was up 124% …
Glastonbury Festival records £3.1m loss in 2021
Glastonbury Festival recorded losses of up to £3.1m ($4.2m/€3.7m) in 2021, after having to cancel its second event in a row due to the ongoing COVID-19 pandemic. Organisers confirmed that the Somerset-based music festival would be cancelled for the second year in a row at the start of 2021. According to documents obtained by Billboard, …
DEAG CEO hails “momentum” – TheTicketingBusiness News
MyTicket owner Deutsche Entertainment AG (DEAG) is confident of a strong end to the year after its third-quarter financial update revealed a big increase in sales. Over the three months through to the end of September, DEAG posted a 126% year-on-year increase in revenue from €7.4m (£6.2m/$8.2m) to €16.7m. Sales over the first nine months of 2021 totalled …
CTS Eventim boasts positive third quarter thanks to a boost in ticket sales
Ticketing and live entertainment company CTS Eventim has posted a positive third quarter, following strong pre-sales for concerts from international artists. From July to September 2021, revenue in the ticketing segment of the business surged by 225.5% to €61m (£51.3m/$69.2m), compared to €18.7m in 2020. Normalised EBITDA for this sector came to €27.1m as opposed …
Vivenu raises $50m in Series B funding
Dusseldorf-based software-as-a-service (SaaS) company and ticket platform Vivenu, which offers an application programming interface (API) for venues and promoters, has raised a further $50m (£37/€43.6m) in a Series B investment round. The announcement comes less than 12 months after it raised $15m in a Series A round. The new financing round was led by investment …
Records tumble as Live Nation enjoys revenue and profit growth in Q3
Live Nation Entertainment saw revenue rocket 1,366.9% during the third quarter of its 2021 financial year, as the return of live events led to record figures for the business. Revenue for the three months to September 30 amounted to $2.70bn (£2.00bn/€2.34bn), up from $184.0m in the corresponding period last year, during which the majority of …
Las Vegas-based LuvSeats closes $1.5m seed round
LuvSeats, a Las Vegas-based event ticketing company, has recently closed a $1.5m (£1.1m/€1.2m) seed round of investment funding. The round was led by co-founders Les and Darcy Silver (pictured). LuvSeats, however, did not disclose the terms of the capital raise, though notable personal investors include investment firm FM Capital’s Chase Fraser, and Ernie Pomerantz, the …