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Jun 30, 2023
Live Nation Q2 2023 Earnings Report
Live Nation's strongest second quarter ever, driven by global demand and diverse artist pipeline, setting the stage for a record year and continued growth.
Key Takeaways
Live Nation Entertainment reported a record second quarter in 2023, with revenue up 27% to $5.6 billion and operating income up 21% to $386 million. The company is on pace for a record year, driven by global demand for live music and a diverse artist pipeline. Early indicators for 2024 provide confidence in continued growth.
Revenue increased by 27% to $5.6 billion compared to Q2 2022.
Operating income rose by 21% to $386 million compared to Q2 2022.
The company sold over 117 million tickets year-to-date, a 20% increase year-over-year.
Event-related deferred revenue is up 37% compared to Q2 2022, reaching $4.3 billion.
Revenue by Segment
Forward Guidance
Live Nation anticipates a record 2023 with continued growth into 2024, driven by strong ticket sales and a growing global artist pipeline.
Positive Outlook
- Record number of fans expected in 2023, with over 117 million tickets sold year-to-date.
- Record Ticketmaster sales expected, with 151 million fee-bearing tickets sold year-to-date.
- Sponsorship pacing to double-digit operating income and AOI growth.
- $4.3 billion in event-related deferred revenue, setting up double-digit attendance growth in Q3.
- Early 2024 pipeline is up for arena/amphitheater/stadium shows confirmed and with offers in.
Challenges Ahead
- Operational challenges in achieving strategic objectives and executing on the company's plans.
- Risk that the company's markets do not evolve as anticipated.
- Potential impact of any economic slowdown.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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