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Munich/New York, 21 February 2020. CTS EVENTIM, one of the world’s leading providers of ticketing and live entertainment, has announced the creation of a new 50:50 partnership with legendary US promoter Michael Cohl.
Through this partnership, CTS EVENTIM together with Michael Cohl, will actively acquire world-class content for global touring.
For EVENTIM LIVE, CTS EVENTIM’s Promoter network, this step marks the next milestone in its still young, yet very successful history. The partnership is set to provide a comprehensive global live entertainment platform, from concept creation to production and promotion for worldclass content.
Both partners will contribute to this partnership. Whereas Michael Cohl will add his concert business and comprehensive network to pursue the new entities mission, CTS EVENTIM will provide full access to the EVENTIM LIVE network, ticketing platform and its full portfolio of products and services around live events.
CTS EVENTIM and Michael Cohl hold 50 percent of the shares of the new company. CTS EVENTIM is consolidating revenues and earnings and has a controlling interest. The entity is based in New York City, USA and will be led by Michael Cohl and Glenn Orsher. The partnerships’ financials will be consolidated in CTS EVENTIM’s financial reports according to IFRS.
CTS EVENTIM CEO Klaus-Peter Schulenberg says: “Together with Michael and his unique network we will create a new platform out of New York for global artists and talent. We are very excited to support this venture with CTS EVENTIM’s full range of capabilities from EVENTIM LIVE to ticketing and to make our contribution to creating a new success story.”
Michael Cohl comments: „I’m looking forward to working with Klaus and his great team and building a unique 21st century global touring company.”
Dr Frithjof Pils, Managing Director of EVENTIM LIVE adds: “It was only in March 2019 that we bundled our promoter activities in the new unit EVENTIM LIVE. After less than a year, our network already comprises 33 international and national promoters who organise more than 40 festivals and around 6000 live events with 12 million visitors in 14 countries every year. This shows: our idea is successful. I am very pleased that with Michael Cohl we now also have a super strong and experienced US partner with whom we can access new territories around the globe.”
About CTS EVENTIM
CTS EVENTIM is one of the leading international providers of ticketing services and live entertainment. In 2018, around 250 million tickets were marketed using the company’s systems – be it through stationary box offices, online or from mobile terminals. Its online portals operate under brands such as eventim.de, oeticket.com, ticketcorner.ch, ticketone.it and entradas.com. The EVENTIM Group also includes many concert, tour and festival promoter companies for events like ‘Rock am Ring’, ‘Rock im Park’, ‘Hurricane’, ‘Southside’ and ‘Lucca Summer’. In addition, some of Europe’s most renowned venues are operated by CTS EVENTIM, for example the LANXESS Arena in Cologne, the Waldbühne in Berlin and the EVENTIM Apollo in London. CTS EVENTIM AG & Co. KGaA (ISIN DE 0005470306) has been listed on the stock exchange since 2000 and is currently a member of the MDAX segment. In 2018, its 3,141-strong workforce generated more than 1.2 billion Euro in sales revenue in 21 countries.
About Michael Cohl
Michael Cohl's career spans over 45 years as a Producer and Promoter for a broad range of entertainment properties, having worked with over 150 of the world’s most recognized artists including Barbra Streisand, Oprah Winfrey David Gilmour, The Rolling Stones, Pink Floyd, U2, Michael Jackson, Frank Sinatra and many more. Michael is credited with revolutionizing the touring industry worldwide.
