Festival package company Festicket has filed a moratorium, which typically means that struggling businesses are given formal breathing room to try and come up with a rescue plan. According to Companies House, the Commencement of Moratorium was listed today (Wednesday) and is being processed. The UK Government says that a moratorium means no legal action …
CTS Eventim bounces back in Q2 and first six months of 2022
CTS Eventim has seen a strong performance in the second quarter of 2022 to beat statistics from before the COVID-19 pandemic. The live entertainment and ticketing company posted revenues of €595m (£500m/$590m) for the second quarter and €732m for the six months between January and June. This is compared to €414m in Q2 in 2019 …
Connect&Go raises $17m in Series A funding
Connect&Go, the attractions management solutions and RFID technology provider, has announced the closing of a Series A funding round, which raised over $17m (£14m/€17m). The financing was led by Financière Outremont in collaboration with holding company Carey, with Finalta Capital and Gestal injecting an additional $6m. Connect&Go offers a cloud-based attractions management platform named Konnect, …
Vivid Seats announces positive quarter and launch of Vivid Picks
Vivid Seats has posted a positive second quarter, with revenues, net income and marketplace GOV (gross order value) all up on Q2 last year. Marketplace GOV amounted to $814.8m (£643m/€796m), an 18% increase on $693.1m in the same period the year prior. Revenues saw a 28% increase from $115.5m in Q2 last year to reach …
LGBTQ+ theatre and bar Above The Stag closes its doors
Above The Stag, a LGBTQ+ theatre and bar in Vauxhall, has closed following a financially “challenging” couple of years. The venue closed its doors for the last time on Saturday, after management was unable to “come up with a feasible business plan for the next five years in our existing venue”. Management said that another …
Gametime secures $30m in fresh funding
Gametime, a platform for last minute game, concert and show tickets, has secured $30m (£25m/€28) in new funding. The round was led by Nimble Partners including the National Basketball Association (NBA)’s Golden State Warriors owner John Burbank, with additional investment by Maven Ventures, Accel, GV, San Francisco Giants principal partner and Vancouver Whitecaps chairman and …
CTS Eventim sees boost from reopening of core markets
The rebound of core markets for CTS Eventim has resulted in its ticketing and live entertainment segments posting a significant increase in revenue in the first quarter of 2022. Revenue for the first quarter came in at €139.2m (£119m/$149m) compared to €19.6m in the same period for the year prior. Earnings before interest, taxes, depreciation …
DEAG boasts positive sales in first quarter
Deutsche Entertainment AG (DEAG) has seen a major rebound in the first quarter of 2022, with sales increasing from €1.1m (£934k/$1.1m) to €31m. For the same period in 2021, operating sales for the entertainment company were €1.1m while reported sales were €4m, showcasing how the company’s sales have returned to pre-pandemic levels in the first …
‘Fans eager to attend live events’ says Vivid Seats chief executive Chia
Vivid Seats chief executive Stan Chia believes that “fans are eager to attend live events” as the online ticketing marketplace posted a record-setting first quarter. In the first quarter of 2022, Vivid Seats posted $130.8m (£105m/€123m) in revenue, up 442% from $24.1m in the same period the year prior. In the three months leading up …
Live Nation revenue soars in Q1 with return of live music
Live Nation Entertainment has claimed a best first quarter ever as revenue “greatly surpassed” expectations, according to president and chief executive, Michael Rapino. The live entertainment giant, which also owns ticketing platform Ticketmaster, posted revenue of $1.8bn (£1.5bn/€1.7bn) in the three months to March 31, up from $290m in the same COVID-19-hit period in 2021. …