LYV
Updated: 23/09/2026, 01:41:59
Live Nation Entertainment, Inc., incorporated in 2005 and formerly known as Live Nation, Inc. until its name change in January 2010, is a global leader in live entertainment, headquartered in Beverly Hills, California. The company's diverse operations are organized into three primary business segments: Concerts, Ticketing, and Sponsorship & Advertising. The Concerts segment is responsible for organizing and promoting live musical performances, utilizing its extensive portfolio of owned or managed venues, as well as various rented third-party locations. This division also oversees the management and operation of music venues, produces major music festivals, develops related content, and offers management and other support services to artists. Through its Ticketing segment, Live Nation manages a comprehensive suite of ticketing operations. This includes supplying advanced ticketing software and services to its clients and facilitating the sale of tickets for both its own events and a wide array of third-party performances and gatherings. These range from professional sports and collegiate athletics to performing arts, museums, and theaters, with tickets distributed via leading online platforms like livenation.com and ticketmaster.com, mobile applications, and various physical outlets. The segment also provides services for ticket resale. The Sponsorship & Advertising division focuses on developing and executing global, national, and local sponsorship programs and advertising campaigns. This involves selling placements for signage, promotional activities, and rich media advertisements—including those associated with live streaming and music-related content—distributed throughout its vast ecosystem of venues, events, and digital properties. Additionally, this segment specializes in crafting and producing bespoke events and programs tailored to specific brand requirements. As of December 31, 2021, Live Nation Entertainment owned, operated, or leased 165 entertainment venues across North America and an additional 94 international entertainment venues.
No summaries found.
Reported and calculated KPIs plus operational exposure disclosed in the FY 2025 filing.
Revenue
N/A
FY — · Reported
Net income
$0.5B
FY 2025 · Reported
Gross margin
N/A
FY — · Reported
Free cash flow
$0.3B
FY 2025 · Calculated
R&D intensity
N/A
FY — · Reported
Share repurchases
$0.0B
FY 2025 · Reported
Other offerings mentioned without separate sales
Area-level product sales are displayed only when the filing reports a product × geography breakdown. Regional totals are not allocated across products by estimation.
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Company overview
Largest live entertainment company in the world, connecting over 805 million fans across concerts and ticketing platforms in 55 countries during 2025
“we are the largest live entertainment company in the world, connecting over 805 million fans across all of our concerts and ticketing platforms in 55 countries during 2025”
Corporate details
Headquartered in Beverly Hills, CA; listed on NYSE under symbol LYV
“Live Nation is listed on the New York Stock Exchange, trading under the symbol “LYV.””
Concerts segment
Largest producer of live music concerts: 159 million fans, 11,000+ artists, 55,000 events in 2025; 460 venues globally including House of Blues, The Fillmore, Moody Center
“connecting 159 million fans to over 11,000 artists at 55,000 events in 2025. Live Nation owns, operates, has exclusive booking rights for or has an equity interest in 460 venues globally”
Ticketing segment (Ticketmaster)
Ticketmaster: distributed 646 million tickets in 2025, serves 10,500 clients worldwide across arenas, stadiums, festivals, sports, performing arts, museums and theaters
“distributing 646 million tickets through our systems in 2025. Ticketmaster serves 10,500 clients worldwide across multiple event categories”
Sponsorship & Advertising segment
Sales force of ~830 people worked with more than 1,500 sponsors during 2025, including Citibank, O2, Mastercard, Cisco, Red Bull and Anheuser Busch
“We employ a sales force of approximately 830 people that worked with more than 1,500 sponsors during 2025”
Artist management
One of the world's leading artist management companies; managed approximately 360 artists in 2025
“through our artist management companies, we managed approximately 360 artists in 2025”
Ticketing client categories
Ticketmaster serves 10,500 clients including arenas, stadiums, festival/concert promoters, sports franchises and leagues, college sports, performing arts, museums and theaters
“providing ticketing services for leading arenas, stadiums, festival and concert promoters, professional sports franchises and leagues, college sports teams, performing arts venues, museums and theaters”
Ticketing metrics 2025
346 million fee-bearing tickets (+2%), fee-bearing GTV $37.1B (+6%); 27.0 million net new tickets signed, ~75% from clients outside North America
“We sold 346 million fee-bearing tickets in 2025 compared to 340 million tickets last year, up 6 million tickets or 2%”
Sponsorship growth drivers 2025
Venue sponsorship up 15% YoY driven by naming rights on new venues, US digital platform integrations, European partnerships, and Latin America growth from Vive Claro and Estadio GNP
“Naming rights and other innovative deals attached to our new venues drove venue sponsorship up 15% year-over-year”
FY2025 segment revenue and AOI
FY2025: Concerts revenue $20.9B (+10%), AOI $687.1M (+30%); Ticketing revenue $3.1B (+3%), AOI $1.1B (+1%); Sponsorship & Advertising revenue $1.3B (+11%), AOI $845.2M (+11%); consolidated revenue $25.2B, operating income $1,251.2M
“Our Concerts segment revenue for the year increased by $1.8 billion, or 10% compared to 2024, from $19.0 billion to $20.9 billion”
Foreign currency translation impact 2025
Favorable FX translation of $199.0M on revenues and $10.7M on operating income in 2025, mainly Euro and British Pound, partially offset by Mexican and Argentinian Pesos
“For the year, we experienced favorable foreign currency translation impacts of $199.0 million on revenues and $10.7 million on operating income. The majority of the favorable impact came from the Euro and British Pound”
OCESA stake increase
In 2025, acquired an additional 24% interest in OCESA from CIE (reducing redeemable NCI by $749.4M) and paid $122.3M for European subsidiaries' NCI
“For the year ended December 31, 2025, we paid $122.3 million to purchase a portion of the noncontrolling interest in certain subsidiaries in Europe. We also acquired an additional 24% interest in OCESA from CIE”
International fan growth
159 million fans in 2025 (+8 million, +5%); growth focused in Europe, Mexico and Asia; over half of fans from outside the US for the first time
“Approximately 159 million fans attended our shows in the year, our largest annual fan count ever, compared to approximately 151 million last year”
Venue openings 2025
Opened Rogers Stadium (Toronto), TD Coliseum (Hamilton), Vive Claro (Bogota, 40k capacity) plus two US amphitheaters and one theater
“We opened Rogers Stadium in Toronto, which hosted nearly 700 thousand fans over the summer”
Venue and festival scale
460 venues, offices in 51 countries, operations in 55 countries, 131 festivals globally in 2025; second largest music venue operator worldwide
“we believe, the second largest operator of music venues in the world. We also believe that we are one of the largest music festival producers in the world with 131 festivals globally in 2025”
Artist investment
Invests nearly $15 billion annually in artist performances, more than any other company in the industry
“We invest nearly $15 billion annually in artist performances – from club and theater acts to global superstars – more than any other company in the industry”
Venue infrastructure investment
Investing capex to expand venue footprint (theaters, amphitheaters, arenas, stadiums) into more markets and upgrade existing venues
“we are investing capital expenditures to expand our venue footprint – focusing on large theaters, amphitheaters, arenas and stadiums - to more markets around the world”
Fan onsite spend
Ancillary revenue at US amphitheater shows was over $45 per fan with onsite spend growing 6%
“Our ancillary revenue spending at our United States amphitheater shows was over $45 per fan for the year, with onsite spend growing by 6%”
Interest expense and income
Interest expense $316.0M (2025), $326.0M (2024), $350.2M (2023); interest income $150.4M, $156.3M, $237.8M respectively
“Interest expense316,033 325,974 350,244”
2026 demand indicators
Event-related deferred revenue up 21% to $4.0B; current 2026 ticket sales up 10% vs same point in 2025, suggesting ongoing strong demand
“This, coupled with current ticket sales for 2026, which are up 10% versus the same point in 2025, suggests ongoing strong demand for concerts”
Broad regulatory compliance obligations
Subject to extensive domestic and international regulation including privacy, FCPA/UK Bribery Act, ticketing rules, venue laws, labor, environmental, taxes; EU DSA fines up to 6% of worldwide turnover; OFAC/EU Russia sanctions
“The DSA imposes new obligations around illegal services or content on our sites, traceability of business users, and enhanced transparency measures, and failure to comply can result in fines of up to 6% of total annual worldwide turnover”
DOJ antitrust lawsuit
DOJ and state AGs sued in May 2024; potential relief includes divestiture of Ticketmaster; trial scheduled March 2, 2026
“In May 2024, we were sued by the United States Department of Justice and state authorities for alleged violations of various laws pertaining to antitrust, competition, unlawful or unfair business practices, restraint of trade”
FTC deceptive ticketing lawsuit
FTC and seven state AGs sued in September 2025 alleging deceptive ticketing practices under BOTS Act and FTC Act Section 5; case in initial stages
“in September 2025, the United States Federal Trade Commission, joined by the attorneys general of seven states, filed a lawsuit against us alleging that we advertised ticket prices to consumers that were deceptively lower than prices displayed at checkout”
Dependence on popular artists and public tastes
Business highly sensitive to public tastes and dependent on securing popular artists; tours booked four to eight months in advance with fixed guarantees paid before revenue
“Our business is highly sensitive to rapidly changing public tastes and is dependent on the availability of popular artists and events”
Ticketing competition
Ticketing faces competition from other primary ticketing providers, self-ticketing systems, venue box offices, and resale marketplaces
“Our ticketing business faces significant competition from other national, regional and local primary ticketing service providers”
Secondary ticketing restrictions vs competitors
Subject to restrictions on resale practices from FTC and state AG agreements that competitors do not face, creating potential competitive disadvantage
“In the secondary ticket sales market, we have restrictions on our business that are not faced by our competitors, imposed as a result of agreements entered into with the Federal Trade Commission”
Redeemable noncontrolling interest put obligations
Put arrangements redeemable at fixed prices: $15.1M (2026), $160.6M (2027), $79.8M (2028), $47.3M (2029), $23.4M (2030)
“Our estimate of redemption amounts for puts that are redeemable at fixed or determinable prices on fixed or determinable dates for the years ended December 31, 2026, 2027, 2028, 2029 and 2030 are $15.1 million, $160.6 million, $79.8 million, $47.3 million and $23.4 million, respectively.”
Extraordinary events risk
Extraordinary events such as terrorist attacks, disease epidemics or natural disasters may deter artists from touring and decrease demand and attendance
“The occurrence and threat of extraordinary events, such as terrorist attacks, intentional or unintentional mass-casualty incidents, public health concerns such as contagious disease outbreaks, natural disasters or similar events, may deter artists from touring”
Business depends on relationships with popular artists, promoters, agents and managers; reliance on unrelated parties to create and perform at live events is a core risk
“Since we rely on unrelated parties to create and perform at live music events, any unwillingness to tour or lack of availability of popular artists could limit our ability to generate revenue.”
DOJ antitrust suit seeking potential divestiture of Ticketmaster with trial March 2, 2026, and September 2025 FTC deceptive-practices suit; state AG resale agreements restrict business
“The case is now in its late stages, with discovery completed. It is presently scheduled to go to trial on March 2, 2026.”
Demand for live experiences growing across the globe, notably international markets; record stadium show volume and 2026 ticket sales up 10%
“We saw demand for live experiences growing across the globe, notably in our international markets”
460 venues globally, including House of Blues, The Fillmore, Moody Center, Ziggo Dome; venue infrastructure investment is a strategic priority and venue sponsorship grew 15%
“Live Nation owns, operates, has exclusive booking rights for or has an equity interest in 460 venues globally”
US is a major market: US amphitheater ancillary spend over $45 per fan; US sponsorship growth; DOJ/FTC suits and state AG agreements are US-based regulatory exposures
“Our ancillary revenue spending at our United States amphitheater shows was over $45 per fan for the year”
Live music competes with other forms of entertainment for consumers' discretionary spending; business is highly sensitive to public tastes and economic conditions
“The live music industry competes with other forms of entertainment for consumers’ discretionary spending”
Ticketmaster serves 10,500 clients worldwide; maintaining and renewing client relationships is a key risk and revenue source
“Ticketmaster serves 10,500 clients worldwide across multiple event categories”
Sponsorship & Advertising revenue from over 1,500 sponsors including Citibank, O2, Mastercard, Cisco, Red Bull and Anheuser Busch
“worked with more than 1,500 sponsors during 2025, through a combination of strategic partnerships, local venue-related deals, national agreements and digital campaigns”
Euro was a primary driver of favorable FX translation impact on 2025 revenues and operating income
“The majority of the favorable impact came from the Euro and British Pound”
Fan growth concentrated in international markets including Asia, driving Concerts segment revenue and fan count growth
“The growth was focused in our international markets, most notably in Europe, Mexico and Asia”
British Pound was a primary driver of favorable FX translation impact in 2025
“The majority of the favorable impact came from the Euro and British Pound”
Mexico was a notable international growth market for fan count; Mexican Peso partially offset favorable FX
“The growth was focused in our international markets, most notably in Europe, Mexico and Asia”
DSA imposes obligations around illegal content, traceability of business users and transparency with fines up to 6% of total annual worldwide turnover
“failure to comply can result in fines of up to 6% of total annual worldwide turnover”
Sanctions on Russian individuals and entities could restrict or limit business activities or subject company to sanction for noncompliance
“governmental actions such as the current sanctions by the United States Department of the Treasury’s Office of Foreign Assets Control and European regulators on certain Russian individuals and entities”
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