As part of a nearly eight-year-old tie-up with Sony Music Latin Iberia, Germany’s CTS Eventim has acquired majority interests in Punto Ticket and Teleticket, ticketing companies operating out of Chile and Peru, respectively.
The Bremen-based live entertainment business emailed DMN about its latest expansion in South America, where it had initially inked a Brazil-focused ticketing pact with the aforesaid Sony Music Latin Iberia in 2016.
Since then, a number of the continent’s streaming-dominant markets have grown substantially; the IFPI pinpointed a 25.9% year-over-year recorded music revenue spike, powered namely by Brazil, for the broader Latin America region during 2022. Predictably, this boost and the digital-driven nature of the music spaces at hand are fueling an industry crackdown on, among other things, infringing apps and websites.
Meanwhile, CTS Eventim itself has bounced back from the unprecedented operational difficulties ushered in by COVID-19 lockdown measures, with its H1 2023 revenue having jumped 39% to hit an all-time opening-half high of over €1 billion, according to the appropriate report.
Moving beyond these pertinent background details and returning to the newly disclosed buyouts, CTS Eventim has indicated that the “corporate leadership” of Santiago-headquartered Punto Ticket and Lima-based Teleticket will remain in place post-purchase.
Though the German company opted against publicly identifying the precise financials associated with the deals, CTS Eventim founder and CEO Klaus-Peter Schulenberg in a statement emphasized the above-mentioned music growth’s impact on the ticketing and live sides.
“South America is a real growth market for ticketing and live entertainment,” spelled out 72-year-old Schulenberg. “We’re delighted to be partnering with Sony Music in two more extremely dynamic territories, and to have Punto Ticket Chile and Teleticket Peru joining our global network.”
And in comments of his own, Sony Music Latin Iberia chairman and CEO Afo Verde, whose employer dropped a reported $250 million to buy Brazil’s Som Livre back in 2021, touched upon the growth of the entertainment spheres in Chile (population 20 million) and Peru (population 34 million) in particular.
“The expansion of our operations to Chile and Peru showcases our continued commitment to fans, artists, promoters, venues, and the live music business,” the longtime Sony Music higher-up Verde communicated in part. “Chile and Peru are exciting, growing markets and a vital stop for both Latin and international touring superstars alike.”
Earlier this month, BTS agency (and Quality Control owner) Hybe branched out into Latin America with the acquisition of Exile Music, after Live Nation over the summer bought Colombia’s Páramo Presenta amid a wider effort to bolster its position in the region.