CTS Eventim: Bernstein European Summer 2026 Festival Guide

Research evidence excerpt

CTS Eventim: Bernstein European Summer 2026 Festival Guide

29 July 2026

European Media

Festival economics are a scale game. A handful of flagship events generate the vast majority Annick Maas

+44 20 7676 6683 of profits, while smaller festivals often operate on thin margins. For operators such as CTS

annick.maas@bernsteinsg.com Eventim, future earnings growth is increasingly driven by high-margin ancillary revenues

including VIP experiences, sponsorship, F&B and other premium services rather than ticket

Christophe Cherblanc sales alone. We believe this opportunity remains underappreciated for CTS Eventim.

+41 582 723 540

christophe.cherblanc@bernsteinsg.com

CTS Eventim Festival Opportunity. We estimate CTS Eventim generates >€215m of

festival revenues. We believe the top six festivals account for the majority of revenues, with Callum Elliott, CFA, ACA

+44 20 7676 7183 Rock am Ring alone making c.20% of the total. Profitability is even more concentrated.

callum.elliott@bernsteinsg.com Based on our estimates, Rock am Ring generates margins >30%, suggesting that the rest

of the portfolio earns <5% margins if the overall portfolio delivers c.10% profitability. This

William Woods underlines the reality of the festival business: a handful of flagship events create most of the +44 20 7676 6806

william.woods@bernsteinsg.com value, while the long tail of smaller festivals remains structurally more difficult to monetise.

Richard Trainor VIP-ification & Sponsorship Drive Incremental Growth Opportunities. While festival

+44 20 7762 1050 tickets remain the core product, we believe the most attractive revenue opportunities

richard.trainor@bernsteinsg.com increasingly lie in ancillary income streams. Much like venues (CTS Eventim: Unlocking the