CTS Eventim leaves Europe with new Israeli centre
German ticketing and live entertainment company CTS Eventim has taken its first fledgling steps (regarding development, anyway) outside of Europe with a new research and development centre in Israel. The company has had a presence in the country since 2011 and, according to the International Ticketing Yearbook (ITY) 2018, was responsible for bringing modern ticketing to Israel. Being first has benefits, and Eventim is currently the biggest player in the market. But it’s not the most recent: live entertainment and ticketing giant Live Nation (also a holding in Dominion’s Luxury Fund) entered Israel in 2017, and the two companies now compete there.
Both CTS Eventim and Live Nation have seen impressive share-price growth so far this year
Source: Yahoo Finance
ITY claims that Israel is worth about $31 million in ticketing last year – a figure that’s set to rise to $35 million by 2022, according to PricewaterhouseCoopers. Eventim, which currently employs 12 people at its new centre, will be looking to focus on prediction system technologies to foresee which events have the most potential in the country. The Israeli operation’s managing director, Ami Feinstein, said: “We have the ability to cross check our own data with data coming from different services such as Last.fm and Spotify, and from tools such as Google Trends.”
2018 saw Eventim deliver its best-ever financial results. Now, the company is in growth mode. Speaking to that fact, Eventim’s CEO, Klaus-Peter Schulenberg, said: “It’s all about the right opportunities at the right time. In the past couple of years, the market environment for acquisitions in the live entertainment segment was no doubt more favourable than that in ticketing. However, given our double-digit, organic growth rates in online ticketing we are under no pressure whatsoever to make a move. Since the IPO [in 2000], CTS Eventim has acquired more than 30 companies. We will continue to grow both organically and through acquisitions going forward.”
Dominion holds both CTS Eventim and Live Nation in its Global Trends Luxury Fund.
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