Loading...
•
Mar 31, 2024
Live Nation Q1 2024 Earnings Report
Live Nation's Q1 2024 results demonstrated strength in live events, with revenue up 21% and adjusted operating income up 15%, despite an operating loss due to one-time accruals.
Key Takeaways
Live Nation Entertainment reported a strong first quarter in 2024, with revenue increasing by 21% to $3.8 billion and adjusted operating income up 15% to $367 million. The company saw growth in fan attendance, fee-bearing tickets sold, and sponsorship revenue. However, the company reported an operating loss of $37 million.
Revenue increased by 21% to $3.8 billion.
Adjusted operating income increased by 15% to $367 million.
Fan growth increased by 21% to 23 million fans.
Sponsorship revenue increased by 24%, marking the highest Q1 ever.
Live Nation
Live Nation
Live Nation Revenue by Segment
Revenue by Segment
Concerts Revenue
CapyFin.comTicketing Revenue
CapyFin.comSponsorship & Advertising Revenue
CapyFin.com Forward Guidance
Live Nation anticipates a record year with double-digit AOI growth, driven by strong fan demand and venue expansion.
Positive Outlook
- Live Nation concert ticket sales for overall arena and amphitheater shows pacing up double-digits.
- Confirmed shows for large venues (stadiums, arenas, and amphitheaters) up double-digits with growth led by arenas and amphitheaters.
- Venue Nation fan count expected to grow double-digits with more shows at amphitheaters and other operated venues.
- Profitability per fan at amphitheaters expected to increase double-digits this year, with operated amphitheaters expected to generate 2.5x the per fan profitability of similarly sized third-party venues.
- Expectations for growth in Sponsorship in the fourth quarter of 2024, similar to the trend for the first quarter of the year.
Challenges Ahead
- Operating income will be impacted by one-time accruals.
- Magnitude of margin expansion impacted by venue mix and advertising costs in Q4 related to 2025 activity.
- Potential payout associated with legal accrual.
- Risk that the company's markets do not evolve as anticipated.
- Potential impact of any economic slowdown and operational challenges associated with selling tickets and staging events.
Revenue & Expenses
Visualization of income flow from segment revenue to net income