Ticketing services and live entertainment company, CTS Eventim, has posted a positive third quarter, with revenue increasing significantly compared to to Q3 in 2021 and even in 2019. Revenue increased to €694m (£611m/$695m) in the third quarter of 2022, compared to €115m in Q3 in 2021 and €378 in the third quarter of 2019. The …
Vivid Seats posts robust Q3
Ticket marketplace Vivid Seats has posted a robust Q3, which is up on a COVID-hit Q3 in 2021 but slightly down on Q2 in some areas. Revenues of $156.8m (£136.7m/€156.7m) demonstrate a 12% increase compared to $139.5m in Q3 2021 and is up on the $147.7m in Q2 this year. A net income of $18.7m …
Eventbrite holds steady – TheTicketingBusiness News
Event management and ticketing company, Eventbrite, has posted a steady third quarter. Net revenue amounted to $67.5m (£58m/€68m) compared to $66m in Q2 and $53m in the same period the year prior. Net loss totalled $21m compared to $20m in Q2 and $17m in Q3 last year. Adjusted EBITDA equalled $4m in Q3 as opposed …
Live Nation’s busy summer drives record third quarter
Live Nation Entertainment has reported a record third quarter, powered by a busy summer with concerts from the likes of The Weeknd, Red Hot Chili Peppers and Bad Bunny. Reported revenue for the third quarter amounted to $6.2bn (£5.52bn/€6.33bn) made up of $5.3bn for concerts; $531m for ticketing; $343m for sponsorship and advertising and a …
Festicket owed more than £22.5m at time of collapse
Festival package company Festicket owed £22,560,175 (€25,937,322/$25,333,835) in unsecured debts to creditors before entering administration, according to a filing on Companies House. The filing shows that some of the UK-based creditors include Event Horizon, which was owed £2,290,244 and Slammin’ Events, which was left £1,346,679 out of pocket. AEG Presents was also owed £1,506,352. …
Deezer targets livestreaming growth through Driift expansion
UK livestreaming business Driift has acquired tech group Dreamstage in a deal backed by global music streaming giant Deezer. The partners said the deal will bring together Driift’s production capabilities with Dreamstage’s technology and commerce platform. The combined business will continue under the Driift name as an independent entity, run by chief executive Ric Salmon …
NSW Fair Trading fines eBay Australia over marked-up ticket listings
E-commerce giant eBay Australia has been fined by NSW Fair Trading after marked-up tickets for the National Rugby League (NRL) Grand Final appeared on its platform. The penalty infringement notices were issued as the listings breached New South Wales’ ticket scalping laws. NSW Fair Trading commissioner Natasha Mann told Australian news outlet news.com: “To protect …
Easol launches new financing solution for festival and event organisers
Travel and experience commerce technology company Easol is launching Easol Capital, a new financing solution tailor-made for festival organisers. Sourcing capital can often be difficult for small-medium enterprises (SMEs) in the events and travel industries, as traditional finance providers continue to be reluctant when it comes to offering loans after the pandemic. The current cost …
Administrators appointed for crumbling Festicket
Administrators have been appointed for the ailing Festicket, after the festival package company failed to come up with a rescue plan. According to a filing on Companies House, Administrators Lee Manning, Cameron Gunn and Simon Jagger of ReSolve Advisory Limited have been appointed. Festicket worked with festivals and events as official partners to provide general …
Moratorium filed by Festicket ends, suggestions of falling into administration
A moratorium filed by festival package company Festicket has come to an end, with Companies House filings detailing suggestions from monitors that the company should enter administration. Filings show that the moratorium was ended by monitors on August 30 as ‘the company is unable to pay any of the following that have fallen due: moratorium debts; …