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Live Nation EntertainmentLYV

Legal name
Live Nation Entertainment, Inc.
Sector
Other
Industry
Services-Amusement & Recreation Services
Exchange
NYSE

Stock Price $LYV

Latest filings

You are here#9 of 18 in Communication by market cap

Filing record · 2016–202610-K1610-Q328-K99

LYV filed 16 annual reports (10-K), 32 quarterly reports (10-Q) and 99 current reports (8-K) between 2016 and 2026.

  1. FY2016 annual report10-K · Feb ’17Feb ’17
  2. Material agreement8-K · Jul ’19Jul ’19
  3. Leadership change8-K · Oct ’21Oct ’21
  4. Material agreement8-K · Oct ’25Oct ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  17. $25.20B
YoY changeLargest recent move+236.8%in FY21Latest +8.8%

2 older moves run past ±150% (largest +236.8%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All LYV Financial Metrics56 metrics

Income Statement12

Balance Sheet26

Cash Flow14

Per Share4

02—Overview

Live Nation Entertainment Financial Overview 2021–2025

Updated Nov 4, 2026

Live Nation's revenue quadrupled in four years, yet common shareholders ended FY2025 with a loss of $(0.24) per share. That gap is the story. The live-event engine keeps compounding, but redeemable-minority accretion, legal exposure and a heavier debt load are absorbing much of the gain. Revenue climbed from $6.3 billion in FY2021 to $25.2 billiona in FY2025, a leap from pandemic recovery to record scale.

The operating results back this up. FY2025 operating income rose 52% to $1.25 billionb, and consolidated AOI gained 10% to $2.37 billion. Concerts AOI jumped 30% to $687.1 million on roughly 159 million fans, up from 151 million. Net income attributable to common stockholders fell to $496.0 million from $896.3 million, because FY2024 was lifted by tax valuation allowance releases. Operating cash flow reached $1.40 billion against $1.05 billion of capital spending.

The balance sheet has turned tighter. Cash stood at $7.09 billionc, but total debt principal hit $8.27 billion at year-end FY2025. A pending antitrust case seeking divestiture of Ticketmaster adds uncertainty, and the company said it could not estimate a reasonably possible loss. At the close of FY2025, the stock was priced at $142.50, for a market cap of $33.5 billion. With negative EPS, no meaningful P/E existed at that date, so investors were paying for AOI growth, not reported earnings.

Recent Developments (Q1 and Q2 2026)

A $450.0 milliond litigation charge after the April jury verdict in the Department of Justice antitrust case turned Q1 2026 into an operating loss of $370.5 million and EPS of $(1.85). Q2 2026 recovered: revenue rose 9% to $7.67 billion, operating income reached $521.9 million, and quarterly net income to common was $294.4 million. Concerts AOI fell 14% on stadium show timing tied to the World Cup. Ticketing AOI rose 14%. Event-related deferred revenue hit a record $6.4 billion, up 25%. Management guides to double-digit Concerts AOI growth for 2026. In October, the company priced $730 million and €600 million of 2032 notes at a blended 5.89% to refinance 6.5% debt. Rapino's contract was extended through 2031.

Bull case: record deferred revenue and higher ticket volume support a strong second half. Bear case: total debt principal of $9.28 billione, $2.97 billion current, and a possible appeal leave little margin. At $183.31 and a $43.2 billion market cap as of July 29, 2026, no P/E applies on $(0.24) annual EPS.

What to watch: outcome of post-trial motions and appeal in the Second Circuit; Concerts AOI recovery in Q3 2026

03—Filings

Recent SEC Filings

  1. 8-KLive Nation Entertainment 8-K Report, Material Agreement (Oct 16, 2026)Live Nation Entertainment, Inc. (LYV) reported in this Form 8-K that on October 15, 2026 it closed a private offering of $730.0 million of 7.125% senior notes due 2032 and €600.0 million of 6.125% senior notes due 2032. The company intends to use the net proceeds to fund the full redemption of its outstanding 6.500% Senior Secured Notes due 2027, pay offering fees and expenses, and for general corporate purposes, which may include repaying or repurchasing certain indebtedness. The Notes are senior unsecured obligations guaranteed by wholly-owned domestic subsidiaries, and are effectively subordinated to the company's secured debt, including its senior secured credit facilities and 3.750% Senior Secured Notes due 2028. In connection with the offering, the company entered into cross-currency swap agreements that convert the $730.0 million U.S. Dollar Notes into approximately €652.1 million of euro-denominated fixed-rate obligations at a weighted average rate of approximately 5.68% through October 15, 2031. After giving effect to the swaps, the weighted average interest rate of the Notes is approximately 5.89%, compared with 6.500% on the notes being redeemed. The Notes Indenture includes customary covenants limiting additional indebtedness, restricted payments, asset sales, liens, mergers and affiliate transactions, many of which fall away while the Notes are investment grade rated. On the same date, the company entered into Amendment No. 1 to its October 21, 2025 Credit Agreement with JPMorgan Chase Bank, N.A. as administrative and collateral agent. The amendment extends the maturity of the revolving credit facilities and delayed draw term loan A facility by one year to October 21, 2031, and increases the multicurrency revolving credit facility to $1,450 million, the venue expansion revolving credit facility to $435 million, and the delayed draw term loan A facility to $725 million.
  2. 8-KLive Nation Entertainment 8-K Report, Corporate Update (Oct 9, 2026)Live Nation Entertainment, Inc. (NYSE: LYV) reported in this Form 8-K, filed October 9, 2026, that it priced a private offering of $730,000,000 aggregate principal amount of 7.125% senior notes due 2032 (U.S. Dollar Notes) and €600,000,000 aggregate principal amount of 6.125% senior notes due 2032 (Euro Notes). Both series are priced at 100.000% of face value. The closing is scheduled for October 15, 2026, subject to customary closing conditions. The notes will be guaranteed by the company and its existing and future domestic restricted subsidiaries that guarantee its senior secured credit facilities. The company intends to use the net proceeds to redeem in full its outstanding 6.500% Senior Secured Notes due 2027, pay offering fees and expenses, and for general corporate purposes, which may include repaying or repurchasing certain indebtedness. The filing also states that the company entered into cross-currency swap agreements that effectively convert the $730 million U.S. Dollar Notes into approximately €652 million of euro-denominated fixed-rate obligations through October 2031, producing a blended interest rate of approximately 5.89% across the Notes, compared with the 6.500% rate on the notes being redeemed. The offering is a private placement under Rule 144A and Regulation S, so the notes are not registered under the Securities Act and are not offered to U.S. persons except under an applicable exemption. The filing is a refinancing transaction and does not report new operating results.
  3. 8-KLive Nation Entertainment 8-K Report, Executive Changes (Oct 2, 2026)On September 30, 2026, Live Nation Entertainment, Inc. entered into an amended and restated employment agreement with Michael Rapino, under which he will continue as President and Chief Executive Officer and as a Board member. The agreement is effective October 1, 2026 and ends December 31, 2031. It supersedes his existing employment agreement, except that the prior agreement continues to govern his 2026 annual cash bonus and annual performance-based equity award and the treatment of equity awards outstanding as of the effective date. The Board unanimously approved the terms, with Mr. Rapino abstaining. The agreement keeps his annual base salary at $3,000,000 and his target annual cash performance bonus at $17,000,000, both unchanged from his existing agreement. Target annual compensation is described as 70% performance-based, 25% time-based equity vesting over five years, and 5% guaranteed salary. Beginning in 2027, his annual equity grants include Annual Performance Shares with a target value of not less than $10,000,000, time-based RSUs with a grant value of $15,000,000, and PSUs with a $15,000,000 target value and a maximum of 200% of target. The PSUs are measured on relative total shareholder return against the S&P 500 over a three-year period. On the effective date, he also receives an upfront RSU grant valued at $20,000,000. Severance terms are significant for investors. A termination without cause or for good reason, subject to a release, pays a lump sum equal to twice the sum of base salary, most recent bonus, and the value of the most recent Annual Performance Shares, plus acceleration of unvested equity with PSUs vesting at target. Death or disability provides a lump sum of base salary plus most recent bonus and equity acceleration. A change in control while he remains employed triggers full vesting of unvested equity, with PSUs vesting based on performance through the change-in-control date. The full terms are in Exhibit 10.1.
  4. 8-KLive Nation Entertainment 8-K Report, Executive Changes (Sep 25, 2026)Live Nation Entertainment, Inc. filed this Form 8-K on September 25, 2026, reporting two items: a leadership transition in its legal function and a related amendment to an executive's employment agreement. Under Item 5.02, the Company and Michael G. Rowles, Executive Vice President, General Counsel and Secretary, entered into a First Amendment to Employment Agreement, effective November 1, 2026. The amendment extends the term of Mr. Rowles' agreement from December 31, 2027 to December 31, 2029. Beginning January 1, 2028, his title will become Senior Legal Advisor, his annual base salary will be $500,000 with no contractual bonus opportunity, and if he is terminated without cause or resigns for good reason, he will receive a lump sum equal to base salary for the period from termination through December 31, 2029. Under Item 8.01, the Company announced that Da-Wai Hu will be hired as Executive Vice President, General Counsel and Secretary beginning November 2, 2026, succeeding Mr. Rowles in that role. The filing does not disclose Mr. Hu's compensation or background. For investors, the filing is primarily a governance and succession disclosure. It sets out a defined, predictable cost for Mr. Rowles' transition to an advisory role, and it identifies a named successor who starts shortly after the amendment takes effect. The filing does not state any financial results or impact on operations.
  5. 8-KLive Nation Entertainment 8-K Report, Financial Results (Jul 30, 2026)Live Nation Entertainment, Inc. reported second-quarter 2026 results in a press release furnished as Exhibit 99.1 to this Form 8-K. Consolidated revenue was $7.7 billion, up 9%, and operating income was $522 million, up 7%. Adjusted operating income (AOI) was $817 million, up 2%. Concerts revenue rose 8% to $6.4 billion on 49 million fans (up 10%), but Concerts AOI fell 14% to $310 million due to show timing, venue pre-opening costs and new international festivals. Ticketmaster AOI rose 14% to $331 million on 90 million fee-bearing tickets (up 8%), and Sponsorship & Advertising AOI rose 13% to $257 million. Management stated that more than 143 million tickets had sold through mid-July, over 14 million ahead of last year's pace. Event-related deferred revenue reached a record $6.4 billion, up 25%, which management said points to accelerating stadium and amphitheater activity in the second half. The company said it remains on track for double-digit AOI growth for the full year, with most of the Concerts improvement expected in the fourth quarter. The press release also cites a first-quarter legal accrual that will weigh on reported operating income. Six-month reported operating income fell to $151 million from $601 million, reflecting a $450 million Governmental Investigations and Litigation charge. Full-year guidance includes capital expenditures of $1.1 billion, net interest expense of about $280 million, and Ticketmaster AOI growth in the mid-single digits. Free cash was $1.93 billion at June 30, 2026, compared with $1.10 billion a year earlier.
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04—See also

Related Companies

Annual revenue over each company’s last eight fiscal years, each strip on its own scale from zero.