CTS Eventim: Buying the Future of Live Entertainment Through Strategic Acquisitions

The live entertainment sector is undergoing a seismic shift. As demand for concerts, festivals, and sports events surges, consolidation is the name of the game. Enter CTS Eventim, Europe’s undisputed leader in live entertainment and ticketing, which has turned acquisitions into an art form—and investors into winners. With a 19.1% revenue surge in 2024 to €2.8 billion, a robust 19.3% EBITDA margin, and a portfolio of strategic deals, this German giant is poised to dominate a sector in flux. For investors seeking exposure to a consolidating industry, CTS Eventim (ETI) is a buy now—before the world catches on.

Acquisitions as a Growth Engine: See Tickets, Punto Ticket, and Beyond

The secret to CTS Eventim’s 2024 success lies in its relentless pursuit of scale. Key acquisitions—See Tickets (UK/US), Punto Ticket (Chile), Teleticket (Peru), and a majority stake in France Billet—have turbocharged its ticketing footprint and live entertainment operations. These deals, completed in 2024 and late 2023, added €300 million in synergies and unlocked new markets, from South America to North America.

Take See Tickets, acquired from Vivendi in June 2024 for €300 million. This UK-based ticketing powerhouse brought CTS Eventim a direct gateway to the lucrative US market, where it now manages tickets for major festivals like Reading and Leeds. The integration is still underway, but early signs are promising: Q1 2025 revenue rose 22% year-over-year, with ticket sales jumping 42% to 40.5 million.

Geographic Expansion: From Arena Milano to the Olympics

CTS Eventim isn’t just buying ticketing companies—it’s building empires. Its Arena Milano project in Italy, a state-of-the-art venue set to host the 2026 Winter Olympics, exemplifies its vertical integration strategy. By owning venues, CTS Eventim secures long-term revenue streams and synergies across ticketing, concessions, and event management.

The company’s Olympic partnerships are another crown jewel. As the official ticketing partner for the 2026 Milano Cortina Winter Olympics and the 2028 Los Angeles Summer Olympics, CTS Eventim will capture premium demand for these marquee events. These deals are no small potatoes: the 2022 Beijing Olympics generated over $1 billion in ticket sales, and CTS Eventim is now positioned to replicate that success.

Outperforming Live Nation: A Margin Story

While global rival Live Nation (LYV) sputtered with just 3% revenue growth in 2024, CTS Eventim’s 19.1% jump shows why it’s the better long-term play. The key? Margin discipline. CTS Eventim’s adjusted EBITDA margin expanded to 19.3% in 2024, outpacing Live Nation’s 12.4% margin, thanks to cost synergies from acquisitions and operational efficiency.

This margin resilience isn’t an accident. CTS Eventim is laser-focused on high-margin segments like premium festivals and sports events. Its 2025 plan to expand data and AI capabilities will further optimize pricing and reduce costs—a moat that will widen as competitors lag.

Valuation: A Hidden Gem at 15x 2025E Earnings

Investors are overlooking a critical fact: CTS Eventim is cheap. At a forward P/E of ~15x 2025E earnings, it trades at a 30% discount to Live Nation’s 21x multiple, despite stronger growth and superior margins. This valuation gap is a buying opportunity.

Add in its 30% dividend growth since 2023—now yielding 2.2%—and CTS Eventim offers both capital appreciation and income. The stock’s 12-month consensus price target of €220 (up from €180 in 2024) suggests 20% upside, but the true value lies in its 2025-2030 trajectory.

The Risks? Manageable

Critics cite near-term headwinds: margin compression in Q1 2025 (down 2.4pp to 20.1%) and rising employee costs as it integrates See Tickets. But these are temporary. The 2026 Olympics presale, stronger summer festival seasons, and full France Billet synergies will stabilize margins by 2026.

Conclusion: Buy the Leader in a Consolidating Market

CTS Eventim isn’t just another ticket seller—it’s a sector consolidator with a proven playbook for growth. Its acquisitions, venue expansions, and Olympic partnerships form a fortress-like business model. At current valuations, investors get Europe’s live entertainment champion at a discount.

Actionable recommendation: Buy CTS Eventim (ETI) now. The stock is priced for modest 2025 growth but not for its 2026 Olympics windfall or long-term margin expansion. Target price: €220. Risk? The Olympics are a decade-long bet—but so is the demand for live experiences.

The live entertainment revolution is here. CTS Eventim is leading it—and investors who act now will be sitting in the front row.