HAMBURG (CelebrityAccess MediaWire) — German ticketing firm CTS Eventim has proclaimed that its recent deal with Live Nation will make them a "global player" in the ticketing industry. Only time will tell if the market feels the love.
CTS announced late last year that it had entered into a long-term exclusive deal with promoter giant Live Nation to deploy Eventim's ticketing software for all of LN's venues around the world. This increased Eventim's market from 17 countries to a presence on every continent, with a strong foothold in the North American market, as well as a presence in Asia and Africa.
"This is an alliance between two market leaders. Live Nation dominates the events industry worldwide, whereas we are Europe's leading ticketing company. The partnership model will create enormous synergies and options for the future" says CTS Eventim's Klaus-Peter Schulenberg.
Its big talk, but it remains to be seen how well it all comes together. An investment analyst last year, published a scathing report on Eventim, downgrading their stock and suggesting that they had limited capability to expand market share. The LN deal would seem to address that but thus far, Eventim's stock hasn't responded as favorably as one might hope. While it is difficult to isolate Eventim's stock performance from the larger market volatility, their stock is off from a November 2007 high of 33 in November to a low of 23 on January 21st. – CelebrityAccess Staff Writers