Loading…
Live Nation Entertainment, Inc. operates as a live entertainment company worldwide. The company operates through Concerts, Ticketing, and Sponsorship & Advertising segments. Its Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates associated content; and offers management and other services to artists. The Ticketing segment manages the ticketing operations, including the provision of ticketing software and services to consumers with marketplace for tickets and event information through mobile apps, other websites, and retail outlets, as well as its websites, such as livenation.com and ticketmaster.com; and provides ticket resale services. This segment offers ticketing services for arenas, stadiums, amphitheaters, music clubs, concert promoters, professional sports franchises and leagues, college sports teams, performing arts venues, museums, and theaters. Its Sponsorship & Advertising segment sells international, national, and local sponsorships and placement of advertising, including signage, online advertising, and promotional programs; rich media offering, including advertising related with live streaming and music-related content; and ads through distribution network of venues, events, and websites. This segment also manages the development of strategic sponsorship programs, as well as develops, books, and produces custom events or programs for specific brands. It owns, operates, or leases entertainment venues. The company was formerly known as Live Nation, Inc. and changed its name to Live Nation Entertainment, Inc. in January 2010. Live Nation Entertainment, Inc. was incorporated in 2005 and is headquartered in Beverly Hills, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $25.2B | $2.0B | $496M | $305M | 183.0% | 8.8% | -44.7% |
| 2024 | $23.2B | $1.6B | $896M | $1.1B | 517.3% | 1.9% | 60.9% |
| 2023 | $22.7B | $1.8B | $557M | $888M | -1064.7% | 36.2% | 109.0% |
| 2022 | $16.7B | $1.2B | $266M | $1.5B | -72.5% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 16,681.25 | 22,726.32 | 23,155.62 | 25,201.41 |
| Operating Revenue | - | 16,681.25 | 22,726.32 | 23,155.62 | 25,201.41 |
| Cost Of Revenue | - | 12,347.61 | 17,290.72 | 17,380.87 | 18,763.36 |
| Gross Profit | - | 4,333.64 | 5,435.60 | 5,774.76 | 6,438.05 |
| Operating Expense | - | 3,643.69 | 4,364.59 | 4,961.26 | 5,205.36 |
| Selling General And Administration | - | 2,955.88 | 3,516.98 | 4,043.71 | 4,091.76 |
| Total Expenses | - | 15,991.30 | 21,655.31 | 22,342.13 | 23,968.72 |
| Operating Income | - | 689.95 | 1,071.01 | 813.50 | 1,232.69 |
| Total Operating Income As Reported | - | 722.03 | 1,084.93 | 824.51 | 1,251.22 |
| EBITDA | - | 1,218.98 | 1,780.32 | 1,615.32 | 1,985.43 |
| Normalized EBITDA | - | 1,186.90 | 1,784.89 | 1,606.87 | 1,967.68 |
| EBIT | - | 769.01 | 1,263.52 | 1,065.40 | 1,346.56 |
| Interest Income | - | 77.62 | 237.82 | 156.25 | 150.44 |
| Interest Expense | - | 278.48 | 350.24 | 325.97 | 316.03 |
| Net Interest Income | - | -200.86 | -112.43 | -169.72 | -165.59 |
| Other Non Operating Income Expenses | - | -41.22 | -35.27 | 103.87 | -57.53 |
| Other Income Expense | - | 1.44 | -45.31 | 95.65 | -36.57 |
| Interest Income Non Operating | - | 77.62 | 237.82 | 156.25 | 150.44 |
| Interest Expense Non Operating | - | 278.48 | 350.24 | 325.97 | 316.03 |
| Net Non Operating Interest Income Expense | - | -200.86 | -112.43 | -169.72 | -165.59 |
| Pretax Income | - | 490.52 | 913.27 | 739.43 | 1,030.53 |
| Tax Provision | - | 115.94 | 209.48 | -391.70 | 339.79 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 7.58 | -1.05 | 1.77 | 5.86 |
| Net Income Continuous Operations | - | 374.58 | 703.80 | 1,131.12 | 690.74 |
| Net Income From Continuing And Discontinued Operation | - | 266.44 | 556.89 | 896.29 | 495.97 |
| Net Income From Continuing Operation Net Minority Interest | - | 266.44 | 556.89 | 896.29 | 495.97 |
| Net Income | - | 266.44 | 556.89 | 896.29 | 495.97 |
| Net Income Common Stockholders | - | 119.67 | 309.46 | 638.21 | -54.83 |
| Net Income Including Noncontrolling Interests | - | 374.58 | 703.80 | - | - |
| Normalized Income | - | 241.94 | 560.42 | 889.61 | 484.08 |
| Diluted NI Availto Com Stockholders | - | 119.67 | 309.46 | 647.40 | -54.83 |
| Basic Average Shares | - | 224.81 | 228.63 | 230.12 | 231.84 |
| Diluted Average Shares | - | 231.56 | 230.98 | 236.35 | 231.84 |
| Reconciled Depreciation | - | 449.98 | 516.80 | 549.92 | 638.87 |
| Reconciled Cost Of Revenue | - | 12,347.61 | 17,290.72 | 17,380.87 | 18,763.36 |
| Total Unusual Items | - | 32.08 | -4.58 | 8.45 | 17.75 |
| Total Unusual Items Excluding Goodwill | - | 32.08 | -4.58 | 8.45 | 17.75 |
| Minority Interests | - | -108.14 | -146.90 | -234.84 | -194.77 |
| Special Income Charges | - | 32.08 | -4.58 | 8.45 | 17.75 |
| Gain On Sale Of Business | 83.58 | 0.45 | -0.34 | - | - |
| Other Special Charges | - | - | 18.50 | 2.56 | 0.78 |
| Restructuring And Mergern Acquisition | 9 | 1 | 0.30 | - | - |
| Gain On Sale Of Security | - | - | 74.50 | -99.20 | - |
| Depreciation Amortization Depletion Income Statement | - | 449.98 | 516.80 | 549.92 | 638.87 |
| Depreciation And Amortization In Income Statement | - | 449.98 | 516.80 | 549.92 | 638.87 |
| General And Administrative Expense | 1,727.72 | 2,923.88 | 3,509.17 | 4,041.82 | - |
| Other Gand A | 1,727.72 | 2,923.88 | 3,509.17 | 4,041.82 | - |
| Gain On Sale Of Ppe | - | 32.08 | 13.93 | 11.02 | 18.53 |
| Other Operating Expenses | - | 237.83 | 330.82 | 367.63 | 474.73 |
| Selling And Marketing Expense | 18.10 | 32 | 47.70 | 54.60 | - |
| Otherunder Preferred Stock Dividend | - | 146.77 | 247.44 | 258.08 | 550.80 |
| Earnings From Equity Interest | - | 10.57 | -5.46 | -16.68 | 3.21 |
| Average Dilution Earnings | - | 0 | 0 | 9.19 | 0 |
Communication Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Live Nation Entertainment, Inc.this co. | LYV | $37.5B | 75.55↑ premium | 138.26 | 183.0% | 20.54 |
| Electronic Arts Inc. | EA | $51.0B | 57.50 | 7.54 | 13.1% | 31.86 |
| Take-Two Interactive Software, Inc. | TTWO | $40.2B | -134.89 | 11.46 | -8.5% | 33.54 |
| TKO Group Holdings, Inc. | TKO | $38.7B | 198.06 | 10.36 | 5.2% | 31.75 |
| EchoStar Corporation |
| 2021 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| SATS |
| $36.1B |
| -2.49 |
| 6.26 |
| -251.4% |
| -4.08 |
| Fox Corporation | FOXA | $27.5B | 12.17 | 2.30 | 18.9% | 7.70 |
| Fox Corporation | FOX | $24.7B | 10.90 | 2.06 | 18.9% | 6.96 |
| Omnicom Group Inc. | OMC | $21.6B | - | 1.79 | -0.5% | 31.05 |
| Charter Communications, Inc. | CHTR | $20.2B | 4.05 | 1.26 | 31.1% | 5.51 |
| Peer Median | - | 10.90 | 4.28 | 9.2% | 19.38 | |