Entertainment
Beyond Taylor Swift: Hot Tickets Drive CTS Eventim Shares
- Shares rise as much as 11% after strong first-half results
- Live concert demand shows no sign of slowing, analysts say
Taylor Swift performs on stage during the "Taylor Swift | The Eras Tour" at Wembley Stadium in London on Aug. 15.
Photographer: Kate Green/Getty ImagesThis article is for subscribers only.
A year ago, Taylor Swift’s Eras tour was behind the rally in CTS Eventim AG, one of Europe’s biggest concert organizers. Today it’s acts like Bruce Springsteen and Ed Sheeran that have propelled the stock to an all-time high.
CTS Eventim, which runs ticket sales and venues like London’s Eventim Apollo, jumped as much as 11% on Thursday, on the back of earnings that beat analyst estimates. The stock has soared some 40% this year and is on a seven-day winning streak as consumers continue to shell out big bucks to see their favorite artists.