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Sep 30, 2024
Live Nation Q3 2024 Earnings Report
Live Nation Entertainment reported third quarter results, highlighting revenue of $7.7 billion and operating income of $640 million.
Key Takeaways
Live Nation Entertainment reported a successful third quarter, marked by a revenue of $7.7 billion and an operating income of $640 million. The company experienced its most active summer concert season and anticipates double-digit AOI growth for the year. Momentum continues to build, as Live Nation expands the industry’s infrastructure with music-focused venues to support artists and reach untapped fan demand across the globe.
Revenue reached $7.7 billion.
Operating income was $640 million.
Adjusted operating income reached $910 million.
Concerts profitability hit a record high with adjusted operating income of $474 million, up 39%.
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 continued growth, driven by a strong concert pipeline, venue enhancements, and sponsorship momentum. However, foreign exchange impacts, particularly from Latin America currencies, are expected to negatively impact operating income and adjusted operating income in the fourth quarter.
Positive Outlook
- Growing concerts pipeline in large venues (stadiums, arenas, and amphitheaters), up double-digits compared to this point in 2023.
- Over 20 million tickets already sold for Live Nation concerts in 2025, pacing up double-digits.
- Recent 2025 stadium onsales delivering double-digit average growth in show grosses relative to past tours.
- Sponsorship momentum continues with commitments pacing up double-digits.
- Plans to add or refurbish an additional 14 venues through 2025, expected to increase capacity by an incremental eight million fans.
Challenges Ahead
- Operational challenges in achieving strategic objectives and executing on the company's plans.
- The risk that the company's markets do not evolve as anticipated.
- The potential impact of any economic slowdown.
- Operational challenges associated with selling tickets and staging events.
- Foreign exchange impact to revenue, operating income and adjusted operating income is expected to accelerate in the fourth quarter of 2024, notably due to exposure to Latin America currencies, which could impact operating income by over 30% and adjusted operating income by mid-teens percentage for the fourth quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income