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Business News Deals Live Business
CTS Eventim buys into Italian concert promoter
By Chris Cooke | Published on Wednesday 18 April 2018
German ticketing giant CTS Eventim has announced another deal further expanding its interests elsewhere in the live music industry, this time taking a majority stake in Italian concert promoter Vivo Concerti.
Vivo Concerti only became an independent promoter last month, it having been owned by Warner Music. The company’s boss Clemente Zard led a management buyout, the major record company seemingly wanting to step back from its live music dabblings in Europe. Zard will retain some shares in the company after the Eventim deal.
He said of the transaction: “Ever since I took over Vivo Concerti, I have wanted to work with an international partner. I am all the more delighted that, within a short time, we have found a global player in CTS Eventim, a company that is not only very familiar with our market segment, but which also shares our vision. Vivo Concerti will continue to bring a fantastic range of international and Italian artists together with their fans and put shows on the road that are as fresh and innovative as our company itself”.
Eventim’s CEO Klaus-Peter Schulenberg added: “We are absolutely delighted at strengthening our position on the Italian market even further. The multi-faceted portfolio of Vivo Concerti complements our existing activities superbly. We also welcome Clemente Zard to the ranks of CTS Eventim – an outstanding promoter who has produced business success stories in recent years, not only as the CEO of Vivo Concerti, but also with his own undertakings”.
