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Dec 31, 2023
Live Nation Q4 2023 Earnings Report
Reported full year and fourth quarter 2023 results, demonstrating growth in revenue and operating income.
Key Takeaways
Live Nation Entertainment reported a strong performance for both the full year and fourth quarter of 2023. The company saw significant increases in revenue, operating income, and attendance, driven by global demand for live events and strategic investments in its venue portfolio and ticketing platform.
Full year revenue increased by 36% to $22.7 billion, and operating income increased by 46% to $1.07 billion.
Concert attendance rose by 20%, with over 145 million fans attending more than 50,000 events.
Fee-bearing gross transaction value (GTV) increased by 30% to nearly $36 billion.
Sponsorship revenue increased by 13% to over $1 billion.
Revenue by Segment
Forward Guidance
Live Nation anticipates continued growth across all business segments, targeting double-digit operating income and adjusted operating income growth for 2024, with profitability compounding by double-digits over the next several years.
Positive Outlook
- Leading indicators point to another year of growth in 2024.
- Live Nation concert ticket sales pacing up 6% with 57 million tickets sold for shows this year.
- Confirmed shows for large venues (stadiums, arenas, and amphitheaters) up double-digits.
- Approximately 75% of expected sponsorship commitments booked, up double-digits.
- Long-term monetization driven by opportunities across Latin America and Asia, expanding venue and festival footprint including premium experiences, and Ticketmaster’s global platform including digital ticketing.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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