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LYV · Live Nation Entertainment

50 filings

10-Q

LYV 10-Q Quarterly Reports

Live Nation Entertainment - 50 quarterly reports

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
  1. 2026-Q2

    Live Nation Entertainment Quarterly Report for Q2 Ended Jun 30, 2026

    Live Nation Entertainment, Inc. reported revenue of $7.67 billion for the second quarter of 2026, up from $7.01 billion a year earlier, with operating income of $521.9 million versus $486.7 million. For the six months ended June 30, 2026, revenue rose to $11.46 billion from $10.39 billion, but operating income fell to $151.4 million from $601.4 million. The decline was driven by a $450.0 million charge recorded within Corporate expenses for Governmental Investigations and Litigation, reflecting the company's best estimate of the ultimate loss associated with the settling states and the jury's damages award in the Department of Justice antitrust case. Net income attributable to common stockholders of Live Nation was $294.4 million for the quarter but a loss of $94.7 million for the six months. Consolidated AOI, a non-GAAP measure, rose to $817.0 million in the quarter from $798.4 million and to $1.19 billion for the six months from $1.14 billion. Within segments, Concerts AOI declined 14% for both the quarter and six months, which the filing attributes largely to the geographic mix of stadium shows shifting into the third quarter due to the FIFA World Cup, while Ticketing and Sponsorship & Advertising AOI grew. Fee-bearing tickets sold rose to 90.1 million in the quarter from 83.3 million. Cash and cash equivalents increased to $9.07 billion, while total debt principal reached $9.28 billion, including a new VenueCo financing and a $2.97 billion current portion driven by the 3.125% convertible notes due 2029 and the 6.5% senior secured notes maturing May 15, 2027. The filing states that the Company's post-trial motions are scheduled for argument on July 31, 2026, and that it intends to appeal as needed to the U.S. Court of Appeals for the Second Circuit. The proposed settlement with the United States remains subject to court approval under the Tunney Act, and the FTC consumer protection lawsuit is at the motion-to-dismiss stage with no probable loss identified. Management states it expects Concerts to end 2026 with double-digit AOI growth and anticipates mid-single-digit AOI growth for Ticketing and double-digit AOI growth for Sponsorship & Advertising for the full year.

    Jul 30, 2026
  2. 2026-Q1

    Live Nation Entertainment Quarterly Report for Q1 Ended Mar 31, 2026

    Live Nation Entertainment, Inc. (LYV) reported first-quarter 2026 revenue of $3.79 billion, up from $3.38 billion a year earlier, with growth in all three segments: Concerts ($2.78 billion), Ticketing ($765.0 million) and Sponsorship & Advertising ($258.6 million). However, the company posted an operating loss of $370.5 million and a net loss attributable to common stockholders of $389.1 million (loss per share of $1.85), driven primarily by a $450 million charge within selling, general and administrative expenses for Governmental Investigations and Litigation. That charge reflects the company's best estimate of the ultimate loss associated with settling states and a jury damages award in the Department of Justice antitrust case, after the jury returned a verdict for the Litigating States on April 15, 2026. Consolidated AOI, a non-GAAP measure, rose to $370.979 million from $341.051 million. Balance sheet and cash flow figures show cash and cash equivalents of $9.08 billion at March 31, 2026, up from $7.09 billion at year-end 2025, largely reflecting deferred revenue growth to $7.41 billion. Operating cash flow was $2.34 billion versus $1.32 billion a year earlier. Total equity fell to $481.8 million from $894.4 million, and Live Nation stockholders' equity turned negative at $(139.4) million. Total debt, net of discounts, was $8.51 billion, and the 2029 convertible notes are classified as current because holders may surrender them during the April 1 to June 30, 2026 window. Capital expenditures were $249.3 million in the quarter, and the company expects $1.1 to $1.2 billion for 2026. After quarter-end, on April 30, 2026, VenueCo agreed to issue €610 million of fixed-rate, non-recourse senior secured notes secured by four venues, with closing expected around May 8, 2026. The company also said the FTC lawsuit is at the motion-to-dismiss stage and that it does not believe a loss is probable at this time.

    May 5, 2026
  3. 2025-Q3

    Live Nation Entertainment Quarterly Report for Q3 Ended Sep 30, 2025

    Live Nation Entertainment, Inc. reported a record third quarter 2025, with revenue of $8.50 billion for the three months ended September 30, 2025, up from $7.65 billion, and operating income of $792.5 million, up 24% from the prior year period. Consolidated AOI rose 14% to $1.03 billion. For the nine months, revenue was $18.89 billion versus $17.47 billion, operating income was $1.39 billion versus $1.06 billion, and AOI was $2.17 billion versus $1.99 billion. Net income attributable to common stockholders was $431.5 million for the quarter, compared with $451.8 million a year earlier, and diluted EPS was $0.73 versus $1.66. Income tax expense rose sharply to $251.8 million in the quarter from $70.2 million, and the filing attributes the nine-month increase partly to non-deductible U.S. legal-related expenses. The balance sheet shows cash and cash equivalents of $6.75 billion at September 30, 2025, including $2.1 billion of client cash owed to ticketing clients, against total debt, net, of $7.36 billion. Operating cash flow for the nine months was $1.45 billion, versus $680.1 million a year earlier, and capital expenditures were $680.8 million. Subsequent to quarter end, the company issued $1.4 billion of 2.875% convertible senior notes due 2031, announced a conditional redemption of its 5.625% notes due 2026, and entered into a new $1.3 billion term loan B and related revolving facilities under a 2025 Credit Agreement. The filing also details significant litigation. The Department of Justice antitrust complaint, joined by states, seeks relief including divestiture of Ticketmaster, with summary judgment motions planned for November 2025 and trial set for March 2026. A new FTC lawsuit filed in September 2025 alleges deceptive pricing and related consumer protection violations. The company states it cannot estimate a reasonably possible loss from the DOJ case and believes a loss is not probable for the FTC matter.

    Nov 4, 2025
  4. 2025-Q2

    Live Nation Entertainment Quarterly Report for Q2 Ended Jun 30, 2025

    Live Nation Entertainment, Inc. reported a record second quarter for 2025, with revenue of $7.01 billion for the three months ended June 30, 2025, up from $6.02 billion a year earlier. Operating income rose to $486.7 million from $465.8 million, and consolidated AOI increased to $798.4 million from $716.2 million. Concerts drove growth, with segment revenue of $5.95 billion and fan count of 44.1 million, up from 38.9 million. For the six months, revenue was $10.39 billion versus $9.82 billion, operating income was $601.4 million versus $424.4 million, and net income attributable to common stockholders was $266.6 million versus $243.5 million. Basic and diluted EPS for the quarter were $0.41, down from $1.05 and $1.03 respectively, reflecting accretion of redeemable noncontrolling interests of $147.8 million in the quarter. Balance sheet liquidity strengthened, with cash and cash equivalents of $7.06 billion at June 30, 2025 versus $6.10 billion at December 31, 2024, and deferred revenue of $5.91 billion versus $3.72 billion. Total debt, net, of $6.48 billion includes the full $1.0 billion principal of the 3.125% convertible senior notes due 2029 classified as current, as holders may surrender them during the window from July 1, 2025 through September 30, 2025. Net cash provided by operating activities was $1.54 billion for the six months, and capital expenditures were $420.1 million. The filing discloses a pending U.S. Department of Justice antitrust complaint seeking, among other relief, divestiture of Ticketmaster, with trial currently set for March 2026. A subsequent event described in the filing is a July 29, 2025 agreement to acquire CIE's 24% interest in OCESA for approximately $646 million, expected to close in the third quarter of 2025.

    Aug 7, 2025
  5. 2025-Q1

    Live Nation Entertainment Quarterly Report for Q1 Ended Mar 31, 2025

    Live Nation Entertainment, Inc. reported first-quarter 2025 revenue of $3.38 billion, down from $3.80 billion in the first quarter of 2024, with the decline driven mainly by fewer U.S. arena shows in Concerts and lower Ticketing revenue. Operating income rose to $114.8 million from an operating loss of $41.4 million a year earlier, largely because the prior-year period included $185.9 million of Astroworld estimated loss contingencies. Consolidated AOI was $341.1 million compared with $362.5 million in the prior-year quarter. Net income attributable to common stockholders of Live Nation was $23.2 million, but net loss available to common stockholders after accretion of redeemable noncontrolling interests was $74.9 million, or $(0.32) per share. The balance sheet shows cash and cash equivalents of $7.16 billion and deferred revenue of $6.08 billion at March 31, 2025, up from $3.72 billion at December 31, 2024. Total debt principal was $6.46 billion, and the company repaid its 2.0% convertible senior notes due 2025 in February 2025 using about $84.8 million of cash. Operating cash flow was $1.32 billion for the quarter, versus $988.9 million a year earlier. Management said early-second-quarter ticket sales for events in calendar 2025 are pacing up double digits. The filing also describes the pending U.S. Department of Justice antitrust complaint against the company and Ticketmaster, in which the government seeks, among other relief, divestiture of Ticketmaster; trial is currently set for March 2026. Management stated it believes it has substantial defenses and will vigorously defend the case.

    May 1, 2025
  6. 2024-Q3

    Live Nation Entertainment Quarterly Report for Q3 Ended Sep 30, 2024

    Live Nation Entertainment, Inc. reported its Form 10-Q for the quarter ended September 30, 2024. Revenue for the third quarter was $7.65 billion, down from $8.15 billion (as revised) in the prior-year quarter, which the filing attributes to fewer stadium shows. Operating income was $639.5 million versus $653.7 million, and net income attributable to common stockholders of Live Nation was $451.8 million, or $1.66 per diluted share, compared with $1.93 a year earlier. Consolidated AOI rose to $909.8 million from $871.2 million, driven by the Concerts and Sponsorship & Advertising segments, while Ticketing AOI declined to $235.7 million from $351.6 million. For the first nine months of 2024, revenue was $17.47 billion and operating income was $1.06 billion, a decline from $1.17 billion, reflecting a $279.9 million Astroworld estimated loss contingency recorded in selling, general and administrative expenses. Consolidated AOI for the nine months increased to $1.99 billion from $1.76 billion. Cash and cash equivalents were $5.49 billion at September 30, 2024, compared with $6.23 billion at December 31, 2023, and total debt principal was $6.29 billion. Significant legal matters include a civil antitrust complaint filed by the U.S. Department of Justice and state attorneys general in May 2024, which seeks, among other relief, divestiture of Ticketmaster, and several private antitrust class actions. Subsequent to quarter-end, the company drew $585 million on its revolving credit facility to repay its 4.875% senior notes due 2024 and, on November 5, 2024, amended its senior secured credit facility to add a $400 million venue expansion revolving credit facility, bringing total available borrowing capacity to $1.7 billion. The filing also restates certain prior-period amounts for income tax and other immaterial errors.

    Nov 12, 2024
  7. 2024-Q2

    Live Nation Entertainment Quarterly Report for Q2 Ended Jun 30, 2024

    Live Nation Entertainment, Inc. reported record second-quarter 2024 results in this Form 10-Q for the quarter ended June 30, 2024. Revenue for the three months ended June 30, 2024 was $6.02 billion, up from $5.63 billion, and operating income was $465.8 million compared with $386.4 million a year earlier. Consolidated AOI for the quarter was $716.2 million versus $589.7 million. For the six months, revenue rose to $9.82 billion from $8.76 billion, but operating income declined to $429.3 million from $529.1 million, primarily due to $279.9 million of Astroworld estimated loss contingencies recorded in the Concerts segment. Net income attributable to common stockholders of Live Nation was $251.2 million for the six months, versus $290.5 million in the prior-year period. Balance sheet and cash flow data show cash and cash equivalents of $6.40 billion at June 30, 2024, total debt net of unamortized discounts of $6.22 billion, and net cash provided by operating activities of $1.40 billion for the six months, down from $1.65 billion. Deferred revenue rose to $4.80 billion from $3.40 billion at year-end 2023. Capital expenditures for the six months were $308.3 million, and the company expects approximately $650 million for full-year 2024. The filing discloses a civil antitrust complaint filed in May 2024 by the U.S. Department of Justice and attorneys general of twenty-nine states plus the District of Columbia against Live Nation and Ticketmaster. The complaint seeks, among other remedies, divestiture of Ticketmaster. The company states it believes it has substantial defenses and will vigorously defend itself, and the filing notes the litigation is at its earliest stage.

    Jul 30, 2024
  8. 2024-Q1

    Live Nation Entertainment Quarterly Report for Q1 Ended Mar 31, 2024

    Live Nation Entertainment, Inc. reported a record first quarter of 2024 for revenue, with revenue of $3.80 billion, up 21% on a reported basis and 22% at constant currency compared with the first quarter of 2023. Growth was led by the Concerts segment, where revenue rose 26% to $2.88 billion on about 13% more events and 21% more fans. Despite the top-line growth, the company posted an operating loss of $36.5 million, compared with operating income of $142.8 million a year earlier. The decline was driven by $185.9 million of Astroworld estimated loss contingencies recorded in the Concerts segment, which the filing says were recognized in selling, general and administrative expenses. Net loss attributable to common stockholders of Live Nation was $46.7 million, or $0.53 per share, compared with a net loss of $3.2 million, or $0.25 per share, in the prior-year quarter. Ticketing revenue rose 7% to $723 million, with fee-bearing tickets sold up 6% to about 77 million, and Ticketing AOI improved to $284 million. Sponsorship & Advertising revenue rose 24% to $211 million, and AOI increased to $130 million. Consolidated AOI, a non-GAAP measure, was $367.4 million compared with $319.7 million a year earlier. Deferred revenue was $5.03 billion at March 31, 2024, up from $3.40 billion at December 31, 2023, and cash and cash equivalents were $6.5 billion. Total principal debt was $6.27 billion, and the weighted-average cost of debt was 4.6%, with about 93% at a fixed rate. Management expects capital expenditures of approximately $600 million for 2024.

    May 2, 2024
  9. 2023-Q3

    Live Nation Entertainment Quarterly Report for Q3 Ended Sep 30, 2023

    Live Nation Entertainment, Inc. reported record third-quarter 2023 results in this Form 10-Q, with revenue of $8.15 billion for the three months ended September 30, 2023, up from $6.15 billion a year earlier, and operating income of $618.5 million versus $506.2 million. For the nine months, revenue reached $16.91 billion (versus $12.39 billion) and operating income was $1.15 billion (versus $852.0 million). Consolidated AOI was $836.1 million for the quarter and $1.75 billion for the nine months. Net income attributable to common stockholders of Live Nation was $483.5 million for the quarter ($1.78 diluted EPS) and $774.0 million for the nine months ($2.59 diluted EPS). Concerts drove most of the growth, with Concerts revenue of $6.97 billion for the quarter and about 52 million fans attending shows, while Ticketing revenue rose to $832.6 million and fee-bearing tickets sold reached about 89 million. Balance sheet activity centered on financing and seasonality. Cash and cash equivalents were $5.95 billion at September 30, 2023, and total debt principal was $6.65 billion. In January 2023 the company issued $1.0 billion of 3.125% convertible senior notes due 2029 and used proceeds to repurchase $440.0 million of 2.5% convertible notes due 2023. Total equity rose to $864.9 million from $93.8 million at year-end 2022, driven by net income and foreign currency translation. Management reported no material changes to risk factors from its 2022 Form 10-K. The filing also highlights legal exposure. Approximately 450 civil lawsuits relate to the November 2021 Astroworld festival, and management stated it may incur material liabilities from that event. The company stated that it does not believe a loss is probable in the Canadian consumer class actions. Management also expects capital expenditures of approximately $450 million for full-year 2023.

    Nov 2, 2023
  10. 2023-Q2

    Live Nation Entertainment Quarterly Report for Q2 Ended Jun 30, 2023

    Live Nation Entertainment, Inc. (LYV) reported a record second quarter 2023, with revenue of $5.63 billion for the three months ended June 30, 2023, up from $4.43 billion in the prior-year quarter, and operating income of $386.4 million versus $318.7 million. Consolidated AOI for the quarter was $589.7 million, compared with $479.6 million a year earlier. For the six months ended June 30, 2023, revenue was $8.76 billion and operating income was $529.1 million, compared with $345.8 million in the prior-year period. Net income attributable to common stockholders of Live Nation was $293.7 million for the quarter and $290.5 million for the six months. Cash and cash equivalents rose to $7.13 billion at June 30, 2023, while total long-term debt, net, was $6.55 billion (current portion of $51.5 million), and deferred revenue increased to $5.03 billion from $3.13 billion at December 31, 2022. Balance sheet activity in the first half centered on refinancing. In January 2023 the company issued $1.0 billion of 3.125% convertible senior notes due 2029, used about $485.8 million of proceeds to repurchase $440.0 million of its 2.5% convertible notes due 2023, and redeemed the remaining $110.0 million in March. The company also amended its senior secured credit facility in February 2023 to replace LIBOR-based references with Term SOFR. Total equity turned positive at $371.4 million, compared with $93.8 million at year-end 2022. The filing also discloses continuing litigation. Approximately 450 civil lawsuits related to the November 2021 Astroworld festival are pending, and the company states it may incur material liabilities from that event, though it currently expects insurance to provide sufficient coverage and cannot reliably predict the outcome. Canadian consumer class actions regarding secondary ticket resales and fee display remain pending, and the company does not believe a loss is probable in those matters.

    Jul 27, 2023
  11. 2023-Q1

    Live Nation Entertainment Quarterly Report for Q1 Ended Mar 31, 2023

    Live Nation Entertainment, Inc. reported a record first quarter of 2023 for the second year in a row. Revenue increased 73% to $3.1 billion ($3,127.4 million) on a reported basis, or 76% at constant currency, compared with $1.8 billion in the first quarter of 2022. Operating income rose to $142.8 million from $27.1 million, and net income attributable to common stockholders of Live Nation improved to a loss of $3.2 million from a loss of $50.2 million. Basic and diluted net loss per share was $0.25 versus $0.39 a year earlier. Concerts revenue grew 89% to $2.28 billion, Ticketing revenue rose 41% to $677.7 million, and Sponsorship & Advertising revenue rose 47% to $170.1 million. The balance sheet strengthened on the cash side, with cash and cash equivalents of $7.0 billion at March 31, 2023, up from $5.6 billion at year-end 2022, and deferred revenue rising to $5.1 billion from $3.1 billion. Long-term debt, net, increased to $6.5 billion from $5.3 billion, largely due to the January 2023 issuance of $1.0 billion of 3.125% convertible senior notes due 2029. The company used proceeds to repurchase $440.0 million of 2.5% convertible notes due 2023 and redeemed the remaining $110.0 million in March 2023. Total Live Nation stockholders' equity was negative at $(460.8) million, while total equity was $79.1 million. The filing notes ongoing litigation, including Canadian consumer class actions and approximately 450 civil lawsuits related to the 2021 Astroworld festival. The company states it cannot reliably predict the outcome of the Astroworld matters and that it may incur material liabilities from them. For the Canadian class actions, management does not believe a loss is probable at this time.

    May 4, 2023
  12. 2022-Q3

    Live Nation Entertainment Quarterly Report for Q3 Ended Sep 30, 2022

    Live Nation Entertainment, Inc. reported a strong third quarter and nine months of 2022 in this Form 10-Q, with revenue of $6.15 billion for the three months ended September 30, 2022, up from $2.70 billion a year earlier, and $12.39 billion for the nine months, up from $3.57 billion. Operating income was $506.2 million for the quarter versus $137.1 million in the prior-year quarter, and $852.0 million for the nine months versus an operating loss of $293.3 million. Net income attributable to common stockholders of Live Nation was $361.4 million for the quarter and $499.0 million for the nine months. The company stated that the third quarter was its second consecutive record quarter for Adjusted Operating Income (AOI), which was $620.7 million for the quarter versus $305.7 million, and $1.31 billion for the nine months versus $163.6 million. The Concerts segment drove most of the growth, with revenue of $5.29 billion for the quarter and an estimated 44.3 million fans, compared with 16.9 million a year earlier. Ticketing reported 73.4 million fee-bearing tickets sold in the quarter, and Sponsorship & Advertising revenue rose to $343.0 million. Management attributed the improvement to the reopening of major markets and fuller venue attendance, while noting that a stronger U.S. dollar has adversely affected international revenue and AOI and is expected to continue through the remainder of the year. Balance sheet and liquidity remained substantial, with cash and cash equivalents of $4.95 billion at September 30, 2022 and total debt of $5.8 billion, of which $5.0 billion was fixed-rate. Total equity was $398.6 million, compared with a deficit of $188.5 million at year-end 2021. The filing also highlights ongoing risks, including Astroworld litigation arising from the November 2021 festival, for which management stated it may incur material liabilities, and consumer class actions in Canada. Management stated that it does not believe a loss is probable in the Canadian matters.

    Nov 3, 2022
  13. 2022-Q2

    Live Nation Entertainment Quarterly Report for Q2 Ended Jun 30, 2022

    Live Nation Entertainment, Inc. reported a sharp rebound in its second quarter of 2022, with revenue of $4.43 billion for the three months ended June 30, 2022, compared with $575.9 million a year earlier, and operating income of $318.7 million versus an operating loss of $127.3 million. For the six months, revenue was $6.24 billion and operating income was $345.8 million, compared with an operating loss of $430.5 million. Management described the second quarter as its highest quarterly AOI ever, at $479.6 million, and its highest quarter ever for both transacted and reported GTV and tickets. Net income attributable to common stockholders of Live Nation was $187.8 million for the quarter and $137.6 million for the six months. The Concerts segment drove the growth, with revenue of $3.60 billion in the quarter and an estimated 33.4 million fans, against about 1.4 million a year earlier. Ticketing revenue was $575.3 million, with fee-bearing tickets sold of 72.0 million, and Sponsorship & Advertising revenue was $263.8 million. Cash and cash equivalents rose to $5.86 billion at June 30, 2022, from $4.88 billion at December 31, 2021, and net cash provided by operating activities was $1.55 billion for the six months. Total debt was reported at $5.8 billion, with about 85% at a fixed rate. Investors should note several open items disclosed in the filing. The company adopted a new convertible-instrument accounting standard on January 1, 2022, which reduced accumulated deficit by $60.5 million. Litigation tied to the November 2021 Astroworld festival involves approximately 450 civil lawsuits, and management says it cannot reliably predict the outcome or range of liability, though it may incur material liabilities. The company also has non-cancelable commitments of approximately $3.9 billion and reported that the U.S. dollar's strengthening is expected to affect international revenue and AOI through the rest of the year.

    Aug 4, 2022
  14. 2022-Q1

    Live Nation Entertainment Quarterly Report for Q1 Ended Mar 31, 2022

    Live Nation Entertainment, Inc. (LYV) reported a sharp recovery in its first quarter of 2022 as major live-event markets, notably the United States and United Kingdom, resumed shows. Revenue was $1,802.8 million for the three months ended March 31, 2022, compared with $290.6 million a year earlier. The company reported operating income of $27.1 million versus an operating loss of $303.2 million in the prior-year quarter, and a net loss attributable to common stockholders of $50.2 million compared with $307.2 million. Management described the quarter as a record start to the year, with Ticketing operating income of $154.8 million and Concerts operating loss of $149.6 million. Cash flow improved materially, with net cash provided by operating activities of $1,198.3 million, driven largely by an increase in deferred revenue of $1,310.5 million from resumed events. Cash and cash equivalents rose to $5.9 billion at March 31, 2022, from $4.9 billion at December 31, 2021, though the filing notes that $1.5 billion of this is client cash owed to ticketing clients. Total net debt was $5.8 billion, and the company stated it was in compliance with its debt covenants. The filing also flags material legal exposure. Approximately 450 civil lawsuits have been filed related to the November 2021 Astroworld festival, which resulted in ten fatalities, and the company states it may incur material liabilities from this event. Management also states that it does not believe a loss is probable in the Canadian consumer class actions. The company completed its acquisition of 51% of OCESA in December 2021 for $431.9 million, and the purchase accounting remains preliminary.

    May 5, 2022
  15. 2021-Q3

    Live Nation Entertainment Quarterly Report for Q3 Ended Sep 30, 2021

    Live Nation Entertainment, Inc. reported a sharp operating rebound in the third quarter of 2021 as live events resumed mainly in the United States and United Kingdom. Revenue for the quarter was $2.70 billion, up from $184.0 million in the prior-year quarter, and operating income was $137.1 million compared with an operating loss of $504.4 million. For the nine months ended September 30, 2021, revenue was $3.57 billion and the operating loss narrowed to $293.3 million from $1.27 billion. Net loss attributable to common stockholders of Live Nation for the nine months was $456.0 million, though the company reported net income of $46.9 million for the quarter. Liquidity was strengthened during the period. Cash and cash equivalents rose to $4.63 billion at September 30, 2021, including $1.3 billion of client cash owed to ticketing clients. The company issued $500 million of 3.75% senior secured notes due 2028 in January 2021, drew down a $400 million term loan A in September 2021, and completed a public offering of 5,239,259 shares of common stock for $449.4 million of net proceeds. Total debt principal was $5.84 billion, and approximately $571.3 million was available under the revolving credit facilities. Total equity was a deficit of $41.8 million. The filing states that the company expects certain markets to remain affected in the fourth quarter and that the pace of recovery remains uncertain in markets where vaccination efforts are still underway. The company also disclosed a pending acquisition of a 51% interest in OCESA Entretenimiento, S.A. de C.V., which is subject to Mexican regulatory approvals and is expected to be funded in part by the stock offering proceeds, and a $500 million liquidity covenant that applies until the earlier of December 31, 2021 or an election to revert to a net leverage covenant.

    Nov 4, 2021
  16. 2021-Q2

    Live Nation Entertainment Quarterly Report for Q2 Ended Jun 30, 2021

    Live Nation Entertainment, Inc. reported a sharp recovery in the second quarter of 2021 as live events resumed in key markets, though the company still posted large losses and remains heavily affected by the COVID-19 pandemic. Revenue for the three months ended June 30, 2021 was $575.9 million, up from $74.1 million a year earlier, and the operating loss narrowed to $127.3 million from $588.1 million. For the six months, revenue fell to $866.6 million from $1.44 billion and the net loss attributable to common stockholders was $502.9 million. Management states the pandemic has had and will continue to have a material negative impact on financial results and liquidity, and it expects the negative impact to continue in 2021. Liquidity was supported by $4.0 billion of cash and cash equivalents at June 30, 2021, including $1.1 billion of ticketing client cash that is payable to clients. The company had approximately $970.8 million available for future borrowings and reported total stockholders' deficit of $912.8 million attributable to Live Nation. Long-term debt, net, rose to $5.30 billion, driven by the January 2021 issuance of $500 million of 3.75% senior secured notes due 2028. Cash provided by operating activities was $1.17 billion for the six months, mainly from higher accounts payable, client accounts and deferred revenue, which reached $2.65 billion at period end. The filing notes that the senior secured credit facility carries a $500 million liquidity covenant until the earlier of December 31, 2021 and an election by the company, after which a net leverage covenant resumes. Management believes it will remain in compliance with its debt covenants throughout 2021 and can generate sufficient liquidity for the next twelve months. Key uncertainties include the pace of event recovery, refund volumes, and a pending arbitration with CIE over the terminated OCESA acquisition, with a hearing scheduled for June 2022.

    Aug 3, 2021
  17. 2021-Q1

    Live Nation Entertainment Quarterly Report for Q1 Ended Mar 31, 2021

    Live Nation Entertainment, Inc. reported a sharply lower first quarter of 2021 as the COVID-19 pandemic kept nearly all live events shut down. Revenue fell 79% to $290.6 million from $1,365.7 million in the first quarter of 2020, and operating loss widened to $303.2 million from $172.7 million. Concerts revenue was $239.4 million and Ticketing revenue was $28.3 million. Net loss attributable to common stockholders was $307.2 million, or $(1.44) per share, compared with $(184.8) million, or $(0.94) per share, a year earlier. A $55.9 million gain on the sale of investments in nonconsolidated affiliates partially offset operating losses. Liquidity remained the central focus. Cash and cash equivalents were $3.0 billion at March 31, 2021, including $724.4 million of client cash owed to ticketing clients. The company had approximately $963.6 million available for future borrowings under its senior secured credit facility and issued $500 million of 3.75% senior secured notes due 2028 in January 2021. Total stockholders' equity was negative $394.1 million at quarter-end, and net cash provided by operating activities fell to $74.6 million from $631.7 million. Management stated it believes it will remain in compliance with debt covenants throughout 2021 and can meet obligations for the next twelve months, but also said the pandemic has had and will continue to have a material negative impact on results and liquidity. Management expects a recovery to begin in the second half of 2021, led by outdoor events and festivals in the United States and United Kingdom, and it expects favorable year-over-year results in the second half if current trends continue. Investors should weigh this against continued refund outflows, a 3.0 million-ticket refund volume in the quarter, uncertainty over the timing of event rescheduling, and the pending CIE arbitration over the terminated OCESA acquisition.

    May 6, 2021
  18. 2020-Q3

    Live Nation Entertainment Quarterly Report for Q3 Ended Sep 30, 2020

    Live Nation Entertainment, Inc.'s third-quarter 2020 10-Q shows the global COVID-19 pandemic causing a severe collapse in revenue and a large operating loss. Revenue for the quarter fell 95% to $184.0 million from $3.77 billion, and for the nine months it fell 81% to $1.6 billion. The company reported an operating loss of $504.4 million for the quarter and $1.27 billion for the nine months, and a net loss attributable to common stockholders of $528.9 million for the quarter and $1.28 billion for the nine months. Total equity dropped to $247.0 million at September 30, 2020, from $1.46 billion at December 31, 2019, and total Live Nation stockholders' equity was negative $99.4 million. Liquidity was supported by new financing. Cash and cash equivalents were $2.6 billion at September 30, 2020, including $614.4 million of ticketing client cash. The company issued $1.2 billion of 6.5% senior secured notes due 2027 and $400 million of 2.0% convertible senior notes due 2025, amended its senior secured credit facility, and added a $130 million incremental revolver. Management cited approximately $962.6 million of available debt capacity and said it targets over $900 million in 2020 cost reductions and the elimination or deferral of $1.5 billion in cash outflows. The company stated that it expects the negative impact of the pandemic to continue into 2021 and that it cannot estimate the full effect on its business. Refund exposure is a key risk. Ticketing had processed or accrued for cancellations or refunds on 23.3 million tickets through the filing date, and the company notes that cash refunds could have a material negative effect on liquidity. Concerts had cancelled over 5,000 shows and had nearly 6,000 postponed or rescheduled shows. Total long-term debt, net was $4.85 billion, and the credit facility carries a $500 million liquidity covenant through the earlier of December 31, 2021 or an earlier election date.

    Nov 5, 2020
  19. 2020-Q2

    Live Nation Entertainment Quarterly Report for Q2 Ended Jun 30, 2020

    Live Nation Entertainment, Inc. reported a sharp deterioration in its second-quarter 2020 results as the global COVID-19 pandemic halted its live events business. Revenue for the three months ended June 30, 2020 was $74.1 million, compared with $3.16 billion a year earlier, and the company reported an operating loss of $588.1 million and a net loss attributable to common stockholders of $567.5 million, or $(2.67) per share. For the six months ended June 30, 2020, revenue was $1.44 billion versus $4.88 billion, and the operating loss was $760.7 million. Management states that the pandemic has had, and will continue to have, a material negative impact on financial results and liquidity, and it is unable to estimate the full impact on the business. Liquidity was supported by financing actions. Cash and cash equivalents were $3.29 billion at June 30, 2020, including $744.7 million of client cash held for ticketing clients. The company issued $1.2 billion of 6.5% senior secured notes due 2027 in May 2020 and $400 million of 2.0% convertible senior notes due 2025 in February 2020, and it amended its senior secured credit facility in April and July 2020, replacing the net leverage covenant with a $500 million liquidity covenant through the earlier of December 31, 2021 and an election date. Management cites approximately $965.5 million of available debt capacity and targets $800 million in 2020 cost reductions. Operating cash flow was negative $390.4 million for the six months, and total long-term debt, net, was $4.83 billion at quarter end. The filing also discloses a $1.6 billion refund-related and deferred revenue position, refunds on 17.2 million Ticketing tickets year to date, and an arbitration with CIE over the terminated OCESA acquisition, in which CIE is seeking specific performance and unspecified damages. Management states it intends to vigorously defend the claims.

    Aug 5, 2020
  20. 2020-Q1

    Live Nation Entertainment Quarterly Report for Q1 Ended Mar 31, 2020

    Live Nation Entertainment, Inc. (LYV) reported a first-quarter 2020 net loss attributable to common stockholders of $184.8 million, or $(0.94) per share, on revenue of $1.37 billion, down 21% from $1.73 billion a year earlier, as the global COVID-19 pandemic forced the company to cease all Live Nation tours and close its venues in mid-March. Operating loss widened to $172.7 million from $23.9 million, and management estimates the lost revenue from COVID-19 in the quarter at approximately $435 million, with operating-loss impacts in Concerts and Ticketing of approximately $175 million, including $10.1 million of intangible asset impairment charges. Concerts revenue fell 25% and Ticketing revenue fell 16%, while Sponsorship & Advertising revenue rose 20%. Liquidity was supported by $3.3 billion of cash and cash equivalents at March 31, 2020, including $842 million of ticketing client cash, and by the February 2020 issuance of $400 million of 2.0% convertible senior notes due 2025. In April 2020 the company amended its senior secured credit facility, adding a $130 million incremental revolver and replacing the net leverage covenant with a $500 million minimum liquidity test for the second and third quarters of 2020. Management stated it has approximately $963 million of available debt capacity, targets $600 million in 2020 cost reductions, and expects to eliminate or defer $1.0 billion of cash outflows into 2021. The company expects the negative impact to continue through the second quarter of 2020 and states that the duration and magnitude of the pandemic remain uncertain. The filing also describes pending exposure to the OCESA acquisition, for which closing on the previously agreed terms is described as uncertain, and notes that refunds for rescheduled or cancelled events could materially affect liquidity, with the company unable to estimate future refunds.

    May 7, 2020
  21. 2019-Q3

    Live Nation Entertainment Quarterly Report for Q3 Ended Sep 30, 2019

    Live Nation Entertainment, Inc. reported its third-quarter 2019 results in this Form 10-Q. Revenue for the three months ended September 30, 2019 was $3.77 billion, compared with $3.84 billion in the prior-year quarter, and the filing describes the quarter's revenue as essentially flat without currency impacts, reflecting timing shifts of stadium events and a major European festival into the second quarter. Operating income rose to $260.0 million from $234.2 million, which the filing attributes mainly to stronger Sponsorship & Advertising and Ticketing results. For the nine months, revenue was $8.66 billion versus $8.19 billion, and net income attributable to common stockholders of Live Nation was $229.8 million versus $208.1 million. Balance sheet and cash flow data show cash and cash equivalents of $1.80 billion at September 30, 2019, down from $2.37 billion at December 31, 2018, and total debt of $2.8 billion. Net cash provided by operating activities for the nine months fell to $32.9 million from $255.6 million, largely due to changes in working capital, including deferred revenue. The company adopted the new lease standard on January 1, 2019, recognizing operating lease assets of $1.1 billion and liabilities of $1.2 billion. Management expects 2019 capital expenditures of approximately $325 million. Subsequent to quarter end, in October 2019, the company issued $950 million of 4.75% senior notes due 2027 and amended its senior secured credit facility to refinance term loans and the 5.375% senior notes due 2022. The company also disclosed a pending acquisition of an aggregate 51% interest in OCESA Entretenimiento, S.A. de C.V., expected to close in late 2019 or early 2020.

    Oct 31, 2019
  22. 2019-Q2

    Live Nation Entertainment Quarterly Report for Q2 Ended Jun 30, 2019

    Live Nation Entertainment, Inc. (LYV) reported second-quarter 2019 revenue of $3.16 billion, up from $2.87 billion in the prior-year quarter, with operating income of $171.6 million versus $134.7 million. For the six months ended June 30, 2019, revenue was $4.88 billion (versus $4.35 billion) and operating income was $147.7 million (versus $128.7 million). Net income attributable to common stockholders of Live Nation was $103.4 million for the quarter and $50.9 million for the six months. Growth was led by the Concerts segment, which generated $2.64 billion of quarterly revenue, with the company citing a higher number of events and fans, including its highest second-quarter concert attendance ever. The balance sheet shows cash and cash equivalents of $2.27 billion at June 30, 2019, total debt of $2.8 billion (net debt also stated at $2.8 billion), and total assets of $10.53 billion, up from $8.50 billion at December 31, 2018. The increase reflects the adoption of the new lease standard on January 1, 2019, which the company said had a material impact on the balance sheet, recognizing operating lease assets and liabilities of $1.1 billion and $1.2 billion, respectively. Deferred revenue rose to $1.89 billion from $1.23 billion. The company stated it was in compliance with all debt covenants as of June 30, 2019. The filing also discloses a putative consumer class action lawsuit series related to secondary ticket resale practices, in which the company states it does not believe a loss is probable and that potential liability would not be material. Capital expenditures for the full year 2019 are expected to be approximately $310 million.

    Jul 25, 2019
  23. 2019-Q1

    Live Nation Entertainment Quarterly Report for Q1 Ended Mar 31, 2019

    Live Nation Entertainment, Inc. reported a first-quarter 2019 net loss attributable to common stockholders of $52.4 million, compared with $33.9 million a year earlier, while revenue rose to $1.73 billion from $1.48 billion. Revenue growth was driven mainly by Concerts, which grew to $1.32 billion from $1.04 billion, with fans attending rising to nearly 15 million from about 12.2 million. The operating loss widened to $23.9 million from $6.0 million, reflecting higher depreciation and amortization of $98.9 million and higher direct operating expenses. Ticketing revenue fell to $337.6 million from $372.4 million, and Ticketing operating income declined to $42.6 million from $64.9 million, largely due to lower North America ticket sales. Balance sheet changes were significant in the quarter. Cash and cash equivalents rose to $2.67 billion, and deferred revenue increased to $2.07 billion from $1.23 billion at year-end 2018. Operating lease assets of $1.11 billion and operating lease liabilities of $1.18 billion were recognized upon the adoption of the new lease standard on January 1, 2019, which management said had a material impact on the balance sheet but not on the statement of operations. Net cash provided by operating activities fell to $469.1 million from $775.5 million, and total debt was reported at $2.9 billion, with net debt of $2.8 billion at March 31, 2019. The filing also discloses consumer class action lawsuits filed in the United States and Canada alleging that Live Nation and Ticketmaster engage in conduct that encourages secondary ticket resale at elevated prices. Management does not believe a loss is probable and does not expect a material adverse effect, but the company intends to vigorously defend the actions. Management also expects 2019 capital expenditures of approximately $310 million.

    May 2, 2019
  24. 2018-Q3

    Live Nation Entertainment Quarterly Report for Q3 Ended Sep 30, 2018

    Live Nation Entertainment, Inc. reported third-quarter 2018 revenue of $3.84 billion, up from $3.44 billion a year earlier, and operating income of $234.2 million versus $201.3 million. For the first nine months, revenue was $8.19 billion (versus $7.37 billion as adjusted) and operating income was $362.9 million (versus $293.4 million). Net income attributable to common stockholders of Live Nation was $172.7 million for the quarter and $208.1 million for the nine months, with diluted EPS of $0.70 and $0.71, respectively. Results for 2017 were adjusted for the retrospective adoption of the revenue recognition standard, which moved certain Ticketing payments from expense to a reduction of revenue. The Concerts segment drove most of the growth, with Concerts revenue up $357.9 million in the quarter and attendance up 12%. Balance sheet and cash flow activity were shaped by the March 2018 refinancing, which included $300 million of 5.625% senior notes due 2026 and $550 million of 2.5% convertible senior notes due 2023. Proceeds were used to repay $246.3 million of 2.5% convertible notes due 2019. Total debt, net of unamortized discounts and issuance costs, was $2.81 billion at September 30, 2018, compared with $2.30 billion at year-end 2017. Cash and cash equivalents were $1.90 billion. Net cash provided by operating activities was $255.6 million for the nine months, down from $418.2 million, and the company stated it expects capital expenditures of approximately $250 million for 2018. The filing notes a class action filed in September and October 2018 over alleged ticket resale practices, and says the company does not believe a loss is probable and cannot estimate a possible loss or range of loss. The company also said it refined its one-time transition tax liability under the Tax Cuts and Jobs Act to approximately $100.0 million, with no impact on 2018 tax expense expected.

    Nov 1, 2018
  25. 2018-Q2

    Live Nation Entertainment Quarterly Report for Q2 Ended Jun 30, 2018

    Live Nation Entertainment, Inc. reported total revenue of $2,868,315 thousand ($2.87 billion) for the three months ended June 30, 2018, up from $2,683,585 thousand as adjusted in the prior-year period, and operating income of $134,725 thousand versus $113,433 thousand. For the six months ended June 30, 2018, revenue was $4.35 billion and operating income was $128.7 million, compared with $92.1 million a year earlier. Net income attributable to common stockholders of Live Nation was $69.4 million for the quarter and $35.5 million for the first half. Management attributes the growth primarily to the Concerts segment, driven by more arena and amphitheater shows and higher attendance, with all three segments reporting revenue growth in the quarter. The balance sheet shows cash and cash equivalents of $2.29 billion at June 30, 2018, up from $1.83 billion at December 31, 2017, while total long-term debt, net, rose to $2.74 billion from $1.95 billion. In March 2018 the company issued $300 million of 5.625% senior notes due 2026 and $550 million of 2.5% convertible senior notes due 2023, using proceeds to repay $246.3 million of 2019 convertible notes. Net cash provided by operating activities was $519.8 million for the six months, down from $804.7 million in the prior-year period, and total debt was stated as $2.9 billion with a weighted-average cost of debt of 4.1%. The filing also discloses a securities class action filed in April 2018 (Poser v. Live Nation Entertainment, Inc.) concerning compliance with the Ticketmaster antitrust consent decree; the company believes a loss is not probable and cannot estimate a range of loss. Deferred revenue rose to $1.85 billion from $925.2 million, reflecting advance ticket sales for future events, a seasonal pattern the company notes is typical.

    Jul 26, 2018
  26. 2018-Q1

    Live Nation Entertainment Quarterly Report for Q1 Ended Mar 31, 2018

    Live Nation Entertainment, Inc. reported revenue of $1.48 billion for the first quarter of 2018, up from $1.24 billion in the prior-year period (as adjusted for the adoption of the new revenue recognition standard). The operating loss narrowed to $6.0 million from $21.4 million, and net loss attributable to common stockholders of Live Nation was $33.9 million, or $(0.24) per share, compared with $33.0 million, or $(0.22) per share, a year earlier. Cash and cash equivalents rose to $2.94 billion at March 31, 2018, though $887.7 million of that represented client cash owed to ticketing clients. Deferred revenue increased to $2.04 billion from $925.2 million at year-end 2017, reflecting advance ticket sales for the concert season. The company refinanced debt in March 2018, issuing $300 million of 5.625% senior notes due 2026 and $550 million of 2.5% convertible senior notes due 2023, with total gross proceeds of $850.0 million. Proceeds were used to repay $223.3 million of 2.5% convertible notes due 2019 and pay a $81.9 million repurchase premium, with $523.9 million left for the remaining principal and general corporate purposes. Total debt principal rose to $2.98 billion from $2.34 billion at year-end 2017. Management reported the company was in compliance with its debt covenants as of March 31, 2018. Segment results showed growth across all three segments: Concerts revenue rose 20% to $1.04 billion, Sponsorship & Advertising revenue rose 17% to $74.6 million, and Ticketing revenue rose 19% to $372.4 million. The filing also discloses a securities class action filed in April 2018 alleging misstatements about compliance with the Ticketmaster antitrust consent decree, which the company intends to defend vigorously, and a May 2018 agreement to acquire a 50% noncontrolling interest in Rock City, S.A. for $34.8 million.

    May 3, 2018
  27. 2017-Q3

    Live Nation Entertainment Quarterly Report for Q3 Ended Sep 30, 2017

    Live Nation Entertainment, Inc. reported third-quarter 2017 revenue of $3.56 billion, up from $3.17 billion a year earlier, and operating income of $201.3 million versus $191.3 million. For the first nine months, revenue rose to $7.79 billion from $6.56 billion and operating income reached $293.4 million compared with $232.2 million. Net income attributable to common stockholders of Live Nation was $136.4 million for the quarter and $184.9 million for the nine months. The filing states that the Concerts segment was the largest contributor to growth, with nine-month revenue up $972 million, or 19%, and that all three segments (Concerts, Sponsorship & Advertising, and Ticketing) delivered revenue increases. The balance sheet strengthened over the period: cash and cash equivalents were $1.80 billion at September 30, 2017, versus $1.53 billion at year-end 2016, while total debt on the balance sheet was described as $2.3 billion in net debt. Net cash provided by operating activities for the nine months was $417.3 million, compared with $119.5 million a year earlier. The company stated it was in compliance with its debt covenants and expects capital expenditures of approximately $220 million for full-year 2017. The filing flags a pending antitrust and trade secret lawsuit brought by Songkick against Live Nation and Ticketmaster L.L.C., with trial set for January 2018. Management does not believe a loss is probable at this time but states that the amounts at stake could be material if the company is unsuccessful. The filing also notes that the new revenue recognition standard takes effect January 1, 2018, and that the company expects to finalize its impact on Ticketing revenue, where certain third-party payments will move from expenses to a reduction of revenue, in the fourth quarter of 2017.

    Nov 2, 2017
  28. 2017-Q2

    Live Nation Entertainment Quarterly Report for Q2 Ended Jun 30, 2017

    Live Nation Entertainment, Inc. reported strong second-quarter 2017 results, with revenue of $2.82 billion for the three months ended June 30, 2017, up from $2.18 billion a year earlier, and operating income of $113.4 million compared with $74.2 million. For the six months, revenue reached $4.23 billion versus $3.39 billion, and the company swung to operating income of $92.1 million from $40.9 million. Net income attributable to common stockholders of Live Nation was $81.5 million for the quarter and $48.5 million for the first half, compared with a net loss of $6.8 million in the first half of 2016. The Concerts segment drove most of the growth, with attendance up 29% in the quarter and 27% for the first six months, while Ticketing and Sponsorship & Advertising also grew revenue. Balance sheet liquidity improved considerably. Cash and cash equivalents rose to $2.22 billion at June 30, 2017 from $1.53 billion at year-end 2016, and the company reported net debt of $2.3 billion. Deferred revenue increased to $1.74 billion from $804.8 million, reflecting advance ticket sales for future events, and $704.3 million of cash is client cash owed to ticketing clients. Net cash provided by operating activities was $803.6 million for the six months, versus $511.0 million a year earlier. The company stated it was in compliance with its debt covenants and expects capital expenditures of approximately $220 million for 2017. During the period the company amended its term loan B to reduce the interest rate, completed several acquisitions for $16.6 million in cash, and received $32.6 million from stock option exercises. The filing also notes that the company will adopt the new revenue recognition standard on January 1, 2018, and is evaluating whether certain Ticketing revenue should be presented net of payments to third parties.

    Aug 9, 2017
  29. 2017-Q1

    Live Nation Entertainment Quarterly Report for Q1 Ended Mar 31, 2017

    Live Nation Entertainment, Inc. reported first-quarter 2017 revenue of $1,413,181 thousand (about $1.41 billion), up from $1,207,716 thousand in the first quarter of 2016, with revenue growth of 17% on a reported basis and 19% on a constant currency basis. Operating loss narrowed to $(21,366) thousand from $(33,290) thousand, and net loss attributable to common stockholders of Live Nation was $(32,993) thousand, or $(0.22) per share, compared with $(44,518) thousand, or $(0.29) per share, a year earlier. Management attributed the improvement largely to the Ticketing segment, where revenue rose 22% and operating income increased to $54,531 thousand from $35,310 thousand. The Concerts segment revenue grew 14% but its operating loss widened to $(75,807) thousand, driven by higher SG&A tied to newly acquired companies. Cash and cash equivalents rose to $2,227,555 thousand at March 31, 2017, from $1,526,591 thousand at year-end 2016, largely reflecting an increase in deferred revenue to $1,796,015 thousand from $804,973 thousand as advance ticket sales for future events grew. Net cash provided by operating activities was $760,701 thousand, compared with $517,398 thousand in the prior-year quarter. Client cash included in cash balances was $671.0 million. Total debt outstanding was $2.4 billion excluding discounts and issuance costs, and management stated it was in compliance with its debt covenants. The company expects full-year 2017 capital expenditures of approximately $220 million. The filing notes that the company will adopt the new revenue recognition standard on January 1, 2018, and that it has not identified changes to the revenue streams representing the majority of reported revenue. Concerts represented 70% of 2016 revenue, and management believes most of that revenue will continue to be deferred until the event date.

    May 4, 2017
  30. 2016-Q3

    Live Nation Entertainment Quarterly Report for Q3 Ended Sep 30, 2016

    Live Nation Entertainment, Inc. reported third-quarter 2016 revenue of $3.17 billion, up from $2.62 billion a year earlier, and operating income of $191.3 million versus $153.5 million. For the nine months ended September 30, 2016, revenue was $6.56 billion (versus $5.51 billion) and operating income was $232.2 million (versus $171.8 million). Net income attributable to common stockholders of Live Nation was $111.1 million for the quarter and $104.3 million for the nine months, compared with $89.0 million and $45.8 million in the prior-year periods. The Concerts segment was the largest contributor to growth, with third-quarter Concerts revenue of $2.50 billion, and management cited stadium activity, amphitheater attendance and festival activity as drivers. Ticketing revenue, Sponsorship & Advertising revenue and Artist Nation revenue also grew for the quarter. As of September 30, 2016, cash and cash equivalents were $1.04 billion, of which $547.4 million was client cash owed to ticketing clients, and total debt was described as $2.0 billion in net debt. Operating cash flow for the nine months was $119.5 million, compared with negative $14.9 million a year earlier. The company also disclosed that in October 2016 it issued $575 million of 4.875% senior notes due 2024 and amended its senior secured credit facility, with proceeds used to refinance term loans and redeem the 7% senior notes due 2020. The filing expects a loss on extinguishment of debt of between $14 million and $17 million from this refinancing and estimates an initial annual cash interest reduction of about $2.0 million. The filing also notes that the company recorded $15.1 million of impairment charges on nonconsolidated affiliates in the quarter, and that management believes it was in compliance with all debt covenants as of September 30, 2016. Full-year 2016 capital expenditures are expected to be between approximately $180 million and $185 million.

    Nov 7, 2016
  31. 2016-Q2

    Live Nation Entertainment Quarterly Report for Q2 Ended Jun 30, 2016

    Live Nation Entertainment, Inc. reported second-quarter 2016 revenue of $2.18 billion, up from $1.77 billion a year earlier, and operating income of $74.2 million versus $42.2 million. For the six months ended June 30, 2016, revenue was $3.39 billion and operating income was $40.9 million, compared with $2.89 billion and $18.3 million in the prior-year period. Net income attributable to common stockholders of Live Nation was $37.7 million for the quarter, while the six-month result was a loss of $6.8 million. Basic and diluted earnings per share were $0.13 for the quarter and a loss of $0.16 for the six months. Growth was driven primarily by the Concerts segment, where revenue rose $329.4 million in the quarter on more stadium shows and amphitheater activity, and attendance at shows increased 22%. Ticketing revenue grew $83.2 million in the quarter, supported by higher primary ticket sales and resale activity. Sponsorship & Advertising and Artist Nation contributed smaller changes. Cash and cash equivalents were $1.51 billion at June 30, 2016, up from $1.30 billion at year-end 2015, though this includes $605.7 million of client cash held for remittance to ticketing clients. Total debt was reported at $2.0 billion, with a weighted-average cost of debt of 4.3%. The company stated it was in compliance with its debt covenants and expected 2016 capital expenditures of approximately $175 million to $180 million. Deferred revenue increased to $1.35 billion from $618.6 million at year-end, reflecting advance ticket sales for future events. Management also reported acquisitions totaling $122.3 million during the first six months of 2016, primarily a German concert promoter and several festival and concert promotion businesses.

    Jul 28, 2016
  32. 2016-Q1

    Live Nation Entertainment Quarterly Report for Q1 Ended Mar 31, 2016

    Live Nation Entertainment, Inc. reported first-quarter 2016 revenue of $1,207,716 thousand ($1.21 billion), up from $1,120,312 thousand in the prior-year period, with the MD&A stating revenue grew 8% on a reported basis and 10% on a constant currency basis. The operating loss widened to $33,290 thousand from $23,935 thousand, which the company attributed largely to higher amortization from recent acquisitions. Net loss narrowed to $55,954 thousand from $66,526 thousand, primarily reflecting foreign exchange gains; net loss attributable to common stockholders of Live Nation was $44,518 thousand. Cash and cash equivalents rose to $1,699,281 thousand at March 31, 2016 from $1,303,125 thousand at December 31, 2015, while deferred revenue increased to $1,354,101 thousand from $618,640 thousand. Net cash provided by operating activities was $517,398 thousand, compared with $347,661 thousand a year earlier. The company stated that $663.0 million of its cash was client cash owed to ticketing clients, and it reported total net debt of $2.0 billion. Management said event-related ticket sales for 2016 were tracking ahead of the prior year, with event-related deferred revenue up 29% at the end of March. Segment results showed Ticketing revenue of $405,786 thousand and Concerts revenue of $681,078 thousand, with Concerts operating loss widening to $49,109 thousand. The company also expects 2016 capital expenditures of approximately $170 million to $175 million and stated it was in compliance with all debt covenants as of March 31, 2016.

    May 3, 2016
  33. 2015-Q3

    Live Nation Entertainment Quarterly Report for Q3 Ended Sep 30, 2015

    Live Nation Entertainment, Inc. (LYV) reported revenue of $2.62 billion for the three months ended September 30, 2015, up $120.9 million from $2.50 billion a year earlier, and $5.51 billion for the nine months, up $213.9 million. Excluding foreign exchange effects, revenue rose $253.3 million (10%) in the quarter and $498.1 million (9%) for the nine months. Operating income was $153.5 million for the quarter, up from $150.6 million, but fell to $171.8 million for the nine months from $194.0 million, as the company accelerated depreciation and amortization tied to changes in the estimated useful lives of certain intangible assets and leasehold improvements. Net income attributable to common stockholders of Live Nation was $89.0 million for the quarter ($0.38 diluted per share) and $45.8 million for the nine months ($0.14 diluted per share). Cash and cash equivalents were $1.06 billion at September 30, 2015, down from $1.38 billion at December 31, 2014. Net cash used in operating activities was $22.6 million for the nine months, compared with $6.5 million a year earlier. Total debt was $2.0 billion at both September 30, 2015 and December 31, 2014, and the weighted-average cost of debt was 4.3%. The company stated it was in compliance with all debt covenants and expects capital expenditures of approximately $155 million for full-year 2015. Segment results were mixed. Concerts revenue rose $66.4 million in the quarter, but its nine-month operating result was a loss of $3.7 million, versus operating income of $28.3 million in 2014. Ticketing operating income rose to $49.0 million in the quarter and $119.8 million for the nine months. Artist Nation posted operating losses in both periods. Sponsorship & Advertising operating income increased to $92.9 million in the quarter and $173.5 million for the nine months. The company also disclosed $34.9 million accrued for the Ticketmaster ticketing fees consumer class action settlement, which is on appeal.

    Oct 29, 2015
  34. 2015-Q2

    Live Nation Entertainment Quarterly Report for Q2 Ended Jun 30, 2015

    Live Nation Entertainment, Inc. reported revenue of $1,765,777 thousand ($1.77 billion) for the three months ended June 30, 2015, up from $1,665,785 thousand in the prior-year quarter, and revenue of $2,886,089 thousand ($2.89 billion) for the six months, up from $2,793,101 thousand. Operating income was $42,245 thousand for the quarter, down from $55,686 thousand, and $18,310 thousand for the six months, down from $43,378 thousand. The company recorded a net loss attributable to common stockholders of $43,223 thousand for the six months, compared with a net loss of $9,514 thousand a year earlier, and basic and diluted loss per share of $(0.25). Net income attributable to common stockholders for the quarter was $15,056 thousand, or $0.06 per share, versus $0.11 per share in the prior-year quarter. Management attributed revenue growth to the Concerts segment, citing more arena shows in North America, higher festival activity and acquisitions, and noted that foreign currency movements reduced reported revenue by approximately $95.7 million in the quarter and $151.8 million for the six months. Ticketing revenue declined in the quarter on a reported basis but rose on a constant-currency basis, supported by resale growth. Concerts recorded an operating loss for both periods, driven by higher depreciation and amortization and lower gains on disposal. Cash and cash equivalents were $1.53 billion at June 30, 2015, and total debt was $2.0 billion. Cash provided by operating activities was $357,154 thousand for the six months. Management expects 2015 capital expenditures of approximately $150 million. The filing also discloses that the company had accrued $34.9 million for the settlement of the Ticketmaster ticketing fees consumer class action, which received final court approval in February 2015. The company stated it was in compliance with all debt covenants as of June 30, 2015.

    Aug 10, 2015
  35. 2015-Q1

    Live Nation Entertainment Quarterly Report for Q1 Ended Mar 31, 2015

    Live Nation Entertainment, Inc. reported a first-quarter 2015 net loss attributable to common stockholders of $58.3 million, or $(0.31) per share, compared with a $32.4 million loss, or $(0.17) per share, in the first quarter of 2014. Revenue was $1,120.3 million, down 1% from $1,127.3 million on a reported basis, but up 4% excluding the impact of changes in foreign exchange rates. Operating loss widened to $23.9 million from $12.3 million, reflecting lower arena activity in Concerts, higher Artist Nation costs and a $21.0 million other expense, primarily foreign exchange losses of $20.8 million. Segment results were mixed. Ticketing revenue rose 6% to $375.6 million and operating income increased to $34.2 million from $21.9 million, driven by higher domestic primary and resale activity. Sponsorship & Advertising revenue grew 15% and operating income rose 5%. Concerts revenue fell 6% to $623.2 million and its operating loss increased to $42.6 million, while Artist Nation's operating loss grew to $16.1 million. Management noted that 2015 ticket sales for upcoming events were tracking ahead of the prior year, contributing to growth in deferred revenue. Liquidity remained substantial. Cash and cash equivalents were $1.61 billion at March 31, 2015, including $608.3 million of client cash, and total debt was $2.0 billion. Net cash provided by operating activities was $342.5 million. The company stated it was in compliance with its debt covenants, and it expects capital expenditures of approximately $145 million for full-year 2015.

    Apr 30, 2015
  36. 2014-Q3

    Live Nation Entertainment Quarterly Report for Q3 Ended Sep 30, 2014

    Live Nation Entertainment, Inc. reported revenue of $2.50 billion for the three months ended September 30, 2014, up 11% from $2.26 billion a year earlier, and $5.30 billion for the nine months, up 9% from $4.87 billion. Operating income rose 19% in the quarter to $150.6 million, while nine-month operating income grew 2% to $194.0 million. Net income attributable to common stockholders was $105.2 million for the quarter versus $43.8 million a year earlier, and $95.6 million for the nine months versus $38.7 million. Diluted EPS was $0.49 for the quarter and $0.45 for the nine months. The Concerts segment drove growth, with revenue up 11% in the quarter on more stadium shows in North America, and the Ticketing segment grew 8% on resale growth tied to the TM+ product, with gross transaction value of resale tickets up 63% in the quarter. Artist Nation revenue rose 18% in the quarter. Operating cash flow was negative for the nine months, at $(13.8) million versus $264.5 million a year earlier, which the filing attributes mainly to timing of event-related operating accounts. Cash and cash equivalents were $1.36 billion at September 30, 2014, against total debt of $2.1 billion. During 2014 the company issued $250 million of 5.375% senior notes due 2022 and $275 million of 2.5% convertible senior notes due 2019, and used the proceeds to redeem $220 million of 2.875% convertible senior notes. The company also accrued $35.1 million for the ticketing fees consumer class action settlement and recorded a $6.0 million impairment of an indefinite-lived trade name.

    Oct 30, 2014
  37. 2014-Q2

    Live Nation Entertainment Quarterly Report for Q2 Ended Jun 30, 2014

    Live Nation Entertainment, Inc. reported revenue of $1,665.8 million for the second quarter of 2014, a decrease from $1,679.5 million in the prior-year quarter, while revenue for the six months ended June 30, 2014 rose to $2,793.1 million from $2,603.2 million. Operating income fell to $55.7 million for the quarter from $97.8 million, and to $43.4 million for the six months from $64.6 million. Net income attributable to common stockholders was $22.9 million ($0.11 per share) for the quarter, compared with $58.1 million ($0.30 per share) a year earlier, and a net loss of $9.5 million for the six months. The Concerts segment drove the revenue increase year to date, while the quarter's decline reflected fewer stadium and arena shows and lower Artist Nation revenue, partly offset by Ticketing growth. The balance sheet strengthened considerably over the period. Cash and cash equivalents rose to $2,041.7 million at June 30, 2014 from $1,299.2 million at December 31, 2013, and total debt increased to $2.3 billion from $1.8 billion. In May 2014 the company issued $250 million of 5.375% senior notes due 2022 and $275 million of 2.5% convertible senior notes due 2019, with net proceeds of $514.6 million. The company intends to use the proceeds to redeem its 2.875% convertible senior notes and for general corporate purposes, and in late July 2014 it notified holders that it intends to redeem the remaining notes in late September at 100% of principal. The filing also discloses $35.4 million accrued for the Ticketmaster consumer class action settlement, and states that the company believes it was in compliance with all of its debt covenants as of June 30, 2014. Capital expenditures are expected to be approximately $135 million for the full year 2014.

    Jul 31, 2014
  38. 2014-Q1

    Live Nation Entertainment Quarterly Report for Q1 Ended Mar 31, 2014

    Live Nation Entertainment, Inc. reported revenue of $1,127,316 thousand ($1.13 billion) for the three months ended March 31, 2014, up from $923,698 thousand in the prior-year period, a 22% increase the filing attributes mainly to higher Concerts segment revenue, which rose $149.0 million. The company still posted an operating loss of $12,308 thousand and a net loss attributable to common stockholders of $32,448 thousand, or $(0.16) per share, compared with a $(63,239) thousand loss, or $(0.33) per share, a year earlier. Operating cash flow was $365,697 thousand versus $270,460 thousand in the prior-year quarter, helped by a $531,338 thousand increase in deferred revenue. Cash and cash equivalents rose to $1,629,142 thousand at March 31, 2014, from $1,299,184 thousand at December 31, 2013. The filing also highlights a larger balance sheet, with total assets of $6.26 billion and total current liabilities of $2.84 billion, including deferred revenue of $1,020,775 thousand. Management states the company was in compliance with its debt covenants as of March 31, 2014, and reports total debt of $1.8 billion with a weighted-average cost of debt of 4.3%. The company also accrued $35.4 million for a ticketing-fees consumer class action settlement that was preliminarily approved in April 2014. Segment results were mixed. Ticketing operating income rose to $21,936 thousand from $15,358 thousand, Sponsorship & Advertising operating income rose to $25,199 thousand from $23,453 thousand, and Artist Nation's operating loss narrowed to $(3,570) thousand from $(10,929) thousand. Concerts still had an operating loss of $(33,938) thousand, though it improved from $(39,841) thousand. Management expects 2014 capital expenditures of approximately $130 million.

    May 6, 2014
  39. 2013-Q3

    Live Nation Entertainment Quarterly Report for Q3 Ended Sep 30, 2013

    Live Nation Entertainment, Inc. reported third-quarter 2013 revenue of $2.26 billion, up 15% from $1.96 billion a year earlier, with operating income of $126.0 million compared with $104.5 million. For the nine months ended September 30, 2013, revenue was $4.87 billion (up 11%) and operating income was $190.7 million versus $104.7 million. Net income attributable to common stockholders was $43.8 million for the quarter ($0.22 per diluted share) and $38.7 million for the nine months ($0.20 per share). The Concerts segment drove growth, with revenue up 21% in the quarter and total attendance up to 21.2 million from 16.7 million, while Artist Nation revenue fell 13% after the Concerts segment brought VIP ticket sales in-house. The quarter included a $36.3 million loss on extinguishment of debt from the August 2013 refinancing, in which the company issued $200 million of additional 7% senior notes due 2020 and amended its senior secured credit facility, repaying its 8.125% senior notes due 2018. Cash and cash equivalents rose to $1.30 billion at September 30, 2013, from $1.00 billion at year-end 2012, though $509.5 million of that balance is client cash. Total debt was $1.8 billion, with a weighted-average cost of debt of 4.3%. Operating cash flow for the nine months was $264.5 million, compared with $89.0 million a year earlier. The company states it was in compliance with all debt covenants as of September 30, 2013. Its 2.875% convertible senior notes are classified as current because holders may require cash repurchase in July 2014. Capital expenditures are expected to be about $120 million for full-year 2013.

    Nov 5, 2013
  40. 2013-Q2

    Live Nation Entertainment Quarterly Report for Q2 Ended Jun 30, 2013

    Live Nation Entertainment, Inc. reported second-quarter 2013 revenue of $1.68 billion, up from $1.55 billion a year earlier, with net income attributable to common stockholders of $58.1 million, or $0.30 per diluted share, compared with $7.7 million, or $0.04, in the prior-year quarter. For the six months, the company posted a net loss attributable to common stockholders of $5.1 million, an improvement from a $61.5 million loss in the first half of 2012. Operating income rose to $97.8 million in the quarter from $43.0 million, helped by $30.2 million of gains on disposal of operating assets, including a $21.9 million gain on the sale of a New York theatrical theater and a $9.4 million insurance recovery related to Hurricane Sandy damage to a New York amphitheater. The Concerts segment drove growth, with revenue up 11% in the quarter, partly from the May 2013 acquisition of a controlling interest in a festival promoter. Ticketing revenue rose 3% in the quarter, while Artist Nation revenue fell 9% and Sponsorship & Advertising revenue rose 16%. Cash and cash equivalents increased to $1.39 billion at June 30, 2013, and operating cash flow for the six months was $380.3 million. Total debt was $1.7 billion at a weighted-average cost of 5.3%. The filing states the company believed it was in compliance with its debt covenants as of June 30, 2013. Legal developments included the June 2013 ICC arbitration ruling that Live Nation Worldwide validly terminated the CTS Agreement and has no liability to CTS. The company has accrued $35.4 million for the proposed settlement of the Ticketmaster ticketing fees consumer class action. Deferred revenue rose to $1.02 billion from $402.0 million at year-end 2012, reflecting seasonal ticket sales.

    Aug 6, 2013
  41. 2013-Q1

    Live Nation Entertainment Quarterly Report for Q1 Ended Mar 31, 2013

    Live Nation Entertainment, Inc. reported a net loss attributable to common stockholders of $63.2 million, or $0.33 per share, for the three months ended March 31, 2013, compared with a net loss of $69.2 million, or $0.37 per share, in the prior-year period. Revenue rose 6% to $923.7 million, driven by the Concerts segment, whose revenue increased $64.8 million, or 14%, on higher event activity, acquisitions and global touring. Operating loss narrowed to $33.2 million from $42.8 million, and the company attributes the improvement to Concerts and Artist Nation results, partly offset by lower Ticketing operating income, which fell to $15.4 million from $32.3 million. Cash and cash equivalents rose to $1.25 billion at March 31, 2013, from $1.00 billion at December 31, 2012, and net cash provided by operating activities was $270.5 million. Deferred revenue increased to $890.8 million from $402.0 million, reflecting ticket sales for future events. Cash and cash equivalents include $441.2 million of client funds. Total debt was $1.7 billion, with a weighted-average cost of debt of 5.2%, and the company stated it was in compliance with its debt covenants. The filing also discloses material pending litigation. An arbitration with CTS, a former ticketing platform provider, has a decision expected in spring 2013, and the company said it is currently unable to estimate a possible loss. The Ticketing Fees consumer class action carries an accrual of $35.4 million for the proposed settlement, and the Company does not believe a loss is probable for the Canadian TicketsNow primary-market claims.

    May 7, 2013
  42. 2012-Q3

    Live Nation Entertainment Quarterly Report for Q3 Ended Sep 30, 2012

    Live Nation Entertainment, Inc. reported third-quarter 2012 revenue of $1.96 billion, up from $1.79 billion a year earlier, with operating income essentially flat at $104.5 million versus $104.8 million. For the nine months ended September 30, 2012, revenue was $4.38 billion and operating income was $104.7 million, compared with $85.0 million in the prior-year period. The company swung to a net loss attributable to common stockholders of $3.5 million for the nine months, versus net income of $16.5 million a year earlier, and cited a $13.8 million impairment on definite-lived intangible assets as a driver of higher amortization. Cash and cash equivalents stood at $783.7 million, and total debt was $1.746 billion. Segment performance was mixed. The Concerts segment's third-quarter revenue rose $149.6 million (12%) on more amphitheater events, festivals and acquisitions, yet operating income fell to $19.1 million from $48.4 million, which the company attributed to the timing of global tours and new festival start-up costs. Ticketing revenue grew $12.5 million (4%) with operating income rising to $36.6 million, while Sponsorship & Advertising operating income reached $73.6 million on revenue of $95.8 million. Balance-sheet and risk items include the August 2012 issuance of $225 million of 7% senior notes due 2020, a $100 million incremental term loan B add-on used to repay the 10.75% senior notes, and an accrued $35.4 million for the Ticketing Fees consumer class action settlement. The company also disclosed an unresolved CTS arbitration in which it could not estimate a possible loss, with a decision expected by the end of 2012.

    Nov 5, 2012
  43. 2012-Q2

    Live Nation Entertainment Quarterly Report for Q2 Ended Jun 30, 2012

    Live Nation Entertainment, Inc. reported a second-quarter 2012 net income attributable to the company of $7.7 million, or $0.04 per diluted share, compared with $13.3 million, or $0.07 per share, in the prior-year quarter. Revenue was $1.55 billion, down slightly from $1.56 billion, with the company stating that revenue increased 2% on a constant currency basis. For the six months, the company reported a net loss attributable to Live Nation of $61.5 million, or $(0.33) per share, compared with a loss of $35.2 million in 2011. Operating income for the six months was $165 thousand, versus an operating loss of $19.8 million a year earlier, and the Concerts segment remained in an operating loss position for both periods. Cash and cash equivalents rose to $1.005 billion at June 30, 2012, from $844.3 million at December 31, 2011, while deferred revenue increased to $830.3 million from $273.5 million. Net cash provided by operating activities was $310.1 million for the six months, compared with $132.7 million a year earlier, driven mainly by event-related operating accounts. Total debt was $1.740 billion, and the company stated it believed it was in compliance with all debt covenants. The company also completed the Coppel, Cream and HARD acquisitions in 2012 and expects full-year 2012 capital expenditures of approximately $125 million. The filing discloses several material legal matters. The CTS arbitration, in which CTS seeks damages including royalties over a 10-year term, has a decision expected by fall 2012, and the company says it cannot estimate the possible loss. The company has accrued $35.5 million for the Ticketing Fees Consumer Class Action settlement, and $41.5 million in total for specific cases. The Live Concert Antitrust Litigation was concluded in June 2012 through a joint stipulation of dismissal.

    Aug 7, 2012
  44. 2012-Q1

    Live Nation Entertainment Quarterly Report for Q1 Ended Mar 31, 2012

    Live Nation Entertainment, Inc. reported a first-quarter 2012 net loss attributable to the company of $69.2 million ($0.37 per share), compared with a loss of $48.5 million ($0.27 per share) in the prior-year quarter. Revenue rose to $868.0 million from $849.4 million, and operating loss narrowed to $42.8 million from $72.2 million. The improvement was driven mainly by lower Artist Nation selling, general and administrative expenses, which included $24.4 million of costs in Q1 2011 tied to the Front Line buyout, and by a stronger Concerts operating loss profile. Ticketing operating income fell to $32.3 million from $45.1 million as the company invested in its ticketing platform. Cash and cash equivalents increased to $1.07 billion at March 31, 2012, from $844.3 million at December 31, 2011, and operating cash flow was $264.8 million versus $127.8 million a year earlier, largely reflecting higher deferred revenue. Total debt was $1.713 billion, and the company stated it was in compliance with its debt covenants. Management expects capital expenditures of about $125 million for full-year 2012. Significant legal matters remain open. The CTS arbitration decision is expected in summer 2012, the Live Concert Antitrust Litigation continues with summary judgment motions due May 29, 2012, and the company has accrued $41.6 million for specific cases, including $35.5 million for the Ticketing Fees consumer class action settlement. For the CTS and antitrust matters, the company stated it could not estimate a possible loss or range of loss, though it believed a loss was not probable.

    May 10, 2012
  45. 2011-Q3

    Live Nation Entertainment Quarterly Report for Q3 Ended Sep 30, 2011

    Live Nation Entertainment, Inc. reported revenue of $1.79 billion for the three months ended September 30, 2011, down from $1.84 billion a year earlier, and operating income of $104.8 million versus $103.1 million. For the nine months, revenue rose to $4.20 billion from $3.83 billion and operating income improved to $85.0 million from $22.4 million. Net income attributable to Live Nation Entertainment, Inc. was $51.7 million for the quarter ($0.27 diluted EPS) and $16.5 million for the nine months ($0.09 diluted EPS), compared with a net loss of $104.0 million for the nine months of 2010. The nine-month results included a $29.5 million net income tax benefit, which included a $39.5 million discrete benefit from reversing valuation allowances tied to the Front Line acquisition. Cash and cash equivalents were $782.6 million at September 30, 2011, compared with $892.8 million at December 31, 2010. Net cash used in operating activities was $27.5 million for the nine months, versus $13.7 million provided in the prior-year period. Total debt, net of discounts and premiums, was $1.725 billion, and the company stated it was in compliance with its debt covenants. The company also reported a $5.7 million impairment on an amphitheater no longer in operation, and accrued $35.8 million for the Ticketing Fees Consumer Class Action settlement, which the court preliminarily approved on October 19, 2011. Segment performance was mixed. Concerts operating loss narrowed to $24.3 million for the nine months from $38.1 million, while Ticketing operating income rose to $96.3 million from $71.0 million. Several litigation matters remain pending, including the CTS arbitration and the Live Concert Antitrust Litigation, for which the company said it cannot estimate a possible loss.

    Nov 3, 2011
  46. 2011-Q2

    Live Nation Entertainment Quarterly Report for Q2 Ended Jun 30, 2011

    Live Nation Entertainment, Inc. reported revenue of $1,558.9 million for the three months ended June 30, 2011, up from $1,266.7 million a year earlier, and operating income of $52.4 million versus $25.6 million. For the six months ended June 30, 2011, revenue was $2,408.3 million and the operating loss narrowed to $19.8 million from $80.7 million. Net income attributable to Live Nation Entertainment, Inc. was $13.3 million for the quarter, compared with a net loss of $32.8 million in the prior-year quarter. For the six months, the company reported a net loss attributable to it of $35.2 million, compared with $155.0 million a year earlier. The six-month results include a $39.5 million discrete tax benefit from reversing valuation allowances and $24.4 million of stock-based compensation recorded in connection with the first-quarter acquisition of the remaining Front Line interests. Growth was driven mainly by the Concerts segment, where U2 and Shakira touring and more arena events lifted revenue, and by Ticketing, which benefited from acquisitions and Olympics-related fees. Cash and cash equivalents rose to $1,003.96 million at June 30, 2011 from $892.8 million at December 31, 2010, and total debt was $1.733 billion. Operating cash flow was $132.7 million for the six months, and management expects 2011 capital expenditures of approximately $115 million. The filing discloses several material legal matters. The CTS arbitration hearing was held in late July and early August 2011, and the company is currently unable to estimate a possible loss. The Ticketing Fees consumer class action had a court decline to approve a proposed settlement on June 3, 2011, with trial scheduled for October 2011 and $21.2 million accrued. The Live Concert Antitrust Litigation remains pending, with no estimable loss.

    Aug 8, 2011
  47. 2011-Q1

    Live Nation Entertainment Quarterly Report for Q1 Ended Mar 31, 2011

    Live Nation Entertainment, Inc. reported a first-quarter 2011 net loss attributable to the company of $48.5 million, or $0.27 per share, compared with a loss of $122.2 million, or $0.83 per share, in the first quarter of 2010. Revenue rose to $849.4 million from $723.4 million, and operating loss narrowed to $72.2 million from $106.3 million. The company attributes revenue growth mainly to the January 2010 Merger with Ticketmaster, which contributed $77.3 million of incremental revenue, along with Concerts touring activity by Lady Gaga and U2. Operating expenses rose, driven by $24.4 million of stock-based compensation tied to the first-quarter 2011 acquisition of the remaining Front Line interests, and a $39.5 million discrete tax benefit contributed to a net income tax benefit of $44.9 million. Balance sheet and cash flow show cash and cash equivalents of $987.2 million at March 31, 2011, up from $892.8 million at December 31, 2010, and total assets of $5.48 billion. Deferred revenue increased to $646.1 million from $335.5 million, and net cash provided by operating activities was $127.8 million versus $89.5 million a year earlier. Total debt was $1.754 billion, excluding discounts and premiums, at a weighted average cost of 6.0%. Management stated it believed it was in compliance with all debt covenants. Key risks disclosed include the pending CTS arbitration, for which the company cannot estimate a possible loss, the Live Concert antitrust litigation, and several TicketsNow and ticketing-fee consumer class actions. A $21.2 million accrual was recorded for the Ticketing Fees settlement and $2.1 million for the TicketsNow U.S. settlement. The company also disclosed a subscription agreement with Liberty Media for 1.8 million shares at $18.8 million already sold, with a further 5.5 million shares for $57.7 million subject to stockholder approval and other closing conditions.

    May 5, 2011
  48. 2010-Q3

    Live Nation Entertainment Quarterly Report for Q3 Ended Sep 30, 2010

    Live Nation Entertainment, Inc. reported a nine-month net loss attributable to the company of $89.1 million for the period ended September 30, 2010, compared with a net loss of $60.7 million in the prior-year period. Revenue for the nine months rose to $3.83 billion from $3.33 billion, driven by the January 2010 merger with Ticketmaster, which is reflected in the Ticketing, Artist Nation and eCommerce segments. Operating income for the nine months was $39.4 million versus $12.0 million a year earlier, while the Concerts segment posted an operating loss of $38.1 million for the period. For the third quarter alone, the company reported net income attributable to Live Nation of $51.4 million, against $69.2 million in the same quarter of 2009. Management said ticket sales volumes continued to decline across the concert industry, with third-quarter attendance down 16% and total events up 3%. The balance sheet expanded significantly as a result of the merger, with total assets rising to $5.39 billion from $2.34 billion at December 31, 2009. Goodwill increased to $1.23 billion, definite-lived intangible assets to $967.1 million, and long-term debt, net, to $1.67 billion. Cash and cash equivalents were $855.6 million at quarter end, of which $350.2 million represented client funds held for ticket sales. Net cash provided by operating activities for the nine months was only $13.7 million, down from $74.6 million a year earlier. In May 2010 the company replaced its senior secured credit facilities with a $1.2 billion facility and issued $250 million of 8.125% senior notes due 2018, recording a $21.2 million loss on extinguishment of debt. The filing states that the company was in compliance with all debt covenants at September 30, 2010. It also discloses several pending matters, including a CTS arbitration, a consolidated Ticketmaster consumer class action in California, Canadian and U.S. consumer class actions relating to TicketsNow, and the long-running Live Concert antitrust litigation, in which the District Court lifted its stay of proceedings in October 2010.

    Nov 4, 2010
  49. 2010-Q2

    Live Nation Entertainment Quarterly Report for Q2 Ended Jun 30, 2010

    Live Nation Entertainment, Inc. reported its second-quarter 2010 results in this Form 10-Q, filed August 5, 2010, which reflect the January 25, 2010 merger with Ticketmaster being consolidated from January 26, 2010 forward. Revenue for the three months ended June 30, 2010 was $1,266,598 thousand, up from $1,047,216 thousand a year earlier, while operating income was $26,626 thousand versus an operating loss of $8,135 thousand in the prior-year quarter. The company still posted a net loss attributable to Live Nation Entertainment, Inc. of $34,618 thousand for the quarter, and $146,571 thousand for the six months, with basic and diluted loss per share of $(0.20) for the quarter and $(0.93) for the six months. Prior-year results were not restated for the merger, so year-over-year comparisons are affected by the acquisition. The balance sheet expanded considerably. Cash and cash equivalents rose to $999,928 thousand from $236,955 thousand at December 31, 2009, and goodwill increased to $1,164,555 thousand from $204,672 thousand. Long-term debt, net, was $1,692,128 thousand, compared with $699,037 thousand at year-end 2009, following a May 2010 refinancing that created a $1.2 billion senior secured credit facility and $250 million of 8.125% senior notes due 2018. The company recorded a $21.2 million loss on extinguishment of debt in the quarter. Management reported that second-quarter concert attendance fell 5.7% and total events declined 2.7% year over year, and that the Ticketing segment saw similar declines in ticket sales, while Sponsorship continued to grow for the first half. For investors, the key items are the scale of the merger's effect on revenue, debt and goodwill, the continued net loss, and the management commentary on softer concert volumes. The filing also discloses several pending legal matters, including the CTS arbitration, consumer class actions related to Ticketmaster and TicketsNow, and the Live Concert antitrust litigation, all of which the company says it intends to vigorously defend.

    Aug 5, 2010
  50. 2010-Q1

    Live Nation Entertainment Quarterly Report for Q1 Ended Mar 31, 2010

    Live Nation Entertainment, Inc. reported a first-quarter 2010 net loss attributable to the company of $111.95 million, compared with $102.71 million in the prior-year quarter, on revenue of $722.95 million (up from $484.91 million). The results reflect the January 25, 2010 merger with Ticketmaster, which is included in results from January 26, 2010 onward; prior-year results were not restated. Operating loss widened to $103.50 million from $88.26 million, with the filing citing higher SG&A, depreciation and amortization, corporate expenses and acquisition transaction expenses tied largely to the merger. Loss per share from continuing operations was $0.76 versus $1.33 a year earlier, though the weighted average share count rose to 146.3 million from 79.6 million because of the 84.6 million shares issued in the merger. The balance sheet expanded considerably. Total assets increased to $5.14 billion from $2.34 billion at December 31, 2009, with goodwill rising to $1.17 billion and definite-lived intangibles to $952.1 million. Cash and cash equivalents were $825.2 million, though the filing notes $342.9 million of that amount represents client funds payable to clients. Long-term debt, net, rose to $1.49 billion from $699.0 million, and the weighted average cost of debt was 6.80%. In May 2010 the company replaced its senior secured credit facilities with a new $1.2 billion facility. Pending legal matters include a CTS arbitration filed in April 2010, several consumer and antitrust class actions, and litigation over the merger.

    May 10, 2010