1Monยท

$LYV (-0.61%)
| Live Nation Entertainment Q3 '24 Earnings Highlights:


๐Ÿ”น Adj EPS: $1.66 (Est. $1.61) ๐ŸŸข

๐Ÿ”น Revenue: $7.7B (Est. $7.77B) ๐Ÿ˜•

๐Ÿ”น Operating Income: $640M

๐Ÿ”น Adjusted Operating Income (AOI): $910M; UP +4% YoY


Concerts:

๐Ÿ”น Revenue: $6.6B; AOI: $474M, UP +39% YoY

๐Ÿ”น Record AOI margin at 7.2%, UP 200 basis points YoY

๐Ÿ”น 112M fans attended concerts YTD, UP +3% YoY

๐Ÿ”น Ticket sales for 2024 events up +3% YoY; October Ticketmaster concert event sales up +23% YoY


Ticketing:

๐Ÿ”น Revenue: $694M; AOI: $236M

๐Ÿ”น Ticketmaster transacted ticket sales up +15% YoY for October


Sponsorship & Advertising:

๐Ÿ”น Revenue: $390M; AOI: $275M, UP +10% YoY

๐Ÿ”น Sponsorship commitments up double-digits YoY, driven by partnerships and expanded brand presence at global festivals


Guidance:

๐Ÿ”น Strong concert pipeline, expecting double-digit AOI growth in 2024

๐Ÿ”น 2024 CapEx estimated at $700M, largely for Venue Nation expansions

๐Ÿ”น Full-year AOI margin expected to be consistent with last year


Other Highlights:

๐Ÿ”ธ Venue expansions and renovations increased spending per fan by double digits at major festivals and amphitheaters

๐Ÿ”ธ VIP ticket premium revenue for major festivals up +20% YoY

๐Ÿ”ธ Venue Nation expects to host ~60M fans in 2024, UP +8% YoY


CEO Michael Rapino's Commentary:

๐Ÿ”ธ "We wrapped up our most active summer concert season ever and are set for an even larger 2025. With a robust show lineup, expanded venue infrastructure, and high fan demand, weโ€™re on track to continue our momentum."

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