Again in September, it emerged that Vivendi was contemplating offloading See Tickets. Now, the French conglomerate has reportedly obtained a number of bids for the ticketing-focused subsidiary, for which it’s reportedly searching for round €300 million (at present $322.3 million).
These latest particulars concerning the doable divestment, which Vivendi set in movement roughly two years after Common Music listed on the Euronext Amsterdam, entered the media highlight in a report from the Monetary Occasions.
Once we final checked in on the potential sale, completely different sources but relayed that Vivendi was trying to half with its Vivendi Village unit, consisting of See Tickets itself in addition to festivals together with Love Supreme and Garorock.
In step with the just-surfaced price ticket, the identical unnamed sources additionally signaled on the time that the transaction would exclude Vivendi venues comparable to L’Olympia and L’Oeuvre.
In the meantime, October noticed the Paris-headquartered entity, which solely just lately closed the €653 million ($702.9 million) sale of publishing firm Editis, verify that it had “given an exploratory mandate to a financial institution to promote its ticketing and festivals companies.”
Per the aforesaid report, Germany’s CTS Eventim and Anschutz Leisure Group (AEG) have already submitted “indicative bids” for See Tickets.
Though further bidders are anticipated to come back ahead sooner reasonably than later, the talked about entities seem well-positioned to aggressively pursue the See Tickets buyout. In fact, the Stay Nation and Ticketmaster rival AEG owns Coachella and its Goldenvoice organizer, AXS, and rather more.
And CTS Eventim, which says some “250 million tickets per yr are marketed utilizing” its “programs,” posted double-digit income development for 2023’s opening half. In late November, the Bremen-based enterprise purchased ticketing corporations in Peru and Chile below a long-running cope with Sony Music Latin Iberia.
Additional demonstrating that its growth ambitions aren’t confined to Europe, the Milan Area builder in the present day unveiled a three way partnership with Outback Presents vet Walter McDonald. Dubbed The Touring Co., the newly minted operation will goal the North American market, with McDonald serving as CEO and possessing a minority stake.
Lastly, concerning the financials and attain of Nottingham-headquartered See Tickets, the Lagardère majority stakeholder Vivendi attributed €144 million ($154.7 million) in income to the overarching Vivendi Village for the primary 9 months of 2023, down from €169 million ($181.6 million) in the course of the an identical interval in 2022.
However this falloff, income from tickets and festivals improved by about 13 p.c to €118 million ($126.8 million), in accordance with Vivendi. Throughout 2023’s third quarter, ticketing and pageant income, at €56 million ($60.2 million), turned in a relatively modest enhance of roughly one p.c amid a €30 million ($32.3 million) year-over-year lower for Vivendi Village, the earnings report reveals.