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Jun 30, 2025
Live Nation Q2 2025 Earnings Report
Live Nation reported strong second quarter results with record revenue, operating income growth, and global attendance gains.
Key Takeaways
Live Nation delivered record revenue of $7.01 billion and grew operating income to $486.7 million in Q2 2025, driven by strong global demand for concerts and robust growth across ticketing and sponsorships.
Revenue reached $7.01 billion, driven by record concert ticket sales and onsite spending
Global attendance grew 14% to 44 million fans, with international markets leading the surge
Concerts segment delivered $5.95 billion in revenue and record AOI of $359 million
Free cash flow (adjusted) came in at $438.1 million, supporting continued venue expansion
Revenue by Segment
Forward Guidance
Live Nation anticipates continued growth in the second half of 2025, driven by international fan demand, strong venue expansion, and consistent AOI margins across segments.
Positive Outlook
- Double-digit international fan growth expected in 2H 2025
- Nearly all large venue shows booked for remainder of the year
- AOI margins expected to remain consistent with prior years
- Ticketmaster on track to grow AOI double-digits in 2H
- 95% of 2025 sponsorship revenue already committed
Challenges Ahead
- Accretion, higher taxes, and FX led to $185 million net income impact
- Secondary ticketing GTV declined mid-single digits
- Sports and other ticketing categories lag behind 2024 levels
- Corporate expenses increased 16% YoY
Historical Earnings Impact
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Avg. Return Before/After Earnings
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