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LYV · Live Nation Entertainment, Inc. · Financials

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$166.85 -2.45 (-1.45%) At close · Oct 1
Market Cap
$40.26B
Shares
235.63M
Volume · Oct 1 2.67M Avg daily vol (3M) 1.95M

Income-statement, balance-sheet and cash-flow figures from SEC filings, plus a debt profile anchored in the latest 10-K and updated by each 10-Q and debt exhibit.

Revenue
$25.2B +8.8%
FY2025 Revenue FY2009–FY2025
Net Income
$495.97M -44.7%
FY2025 Net Income FY2009–FY2025
Operating Margin
4.96% +1.4pp
FY2025 Operating Margin FY2009–FY2025
Diluted EPS
-$0.24 -108.8%
FY2025 Diluted EPS FY2020–FY2025
Operating Cash Flow
$1.4B -19.1%
FY2025 Operating Cash Flow FY2009–FY2025

Chart any reported metric, KPI or segment over time — the full statement history lives here

Line Item TTM FY2025 FY2024 FY2023 FY2022 FY2021 FY2020 FY2019 FY2018 FY2017 FY2016 FY2015 FY2014 FY2013 FY2012 FY2011 FY2010 FY2009
$26.27B $25.2B $23.16B $22.73B $16.68B $6.27B $1.86B $11.55B $10.79B $9.69B $7.83B $7.25B $6.87B $6.48B $5.82B $5.38B $5.06B $4.18B
$4.41B $4.09B $4.04B $3.52B $2.96B $1.75B $1.52B $2.15B $2B $1.91B $1.55B $1.41B $1.34B $1.23B $1.14B $1.11B $1.01B $617.71M
$276.6M $264.57M $249.26M $237.6M $216.9M $193.4M $239.3M $223.5M $190.7M $202.6M $178.1M $174M $154.7M $173.2M $256.9M $175.2M $151.9M —
$688.15M $638.87M $549.92M $516.8M $449.98M $416.28M $485.03M $443.99M $386.53M $372.2M $318.58M $397.24M $368.14M $368.92M $429.56M $343.02M $321.67M $158.12M
$801.2M $1.25B $824.51M $1.08B $722.03M -$417.86M -$1.65B $324.84M $272.54M $91.4M $194.94M $131.37M $7.16M $139.66M -$21.64M $18.34M -$63.7M -$52.36M
— 4.96% 3.56% 4.77% 4.33% -6.67% -88.83% 2.81% 2.53% 0.94% 2.49% 1.81% 0.1% 2.16% -0.37% 0.34% -1.26% -1.25%
$1.49B $1.89B $1.37B $1.6B $1.17B -$1.58M -$1.17B $768.84M $659.07M $463.6M $513.52M $528.61M $375.31M $508.58M $407.92M $361.36M $257.97M $105.76M
$351.39M $316.03M $325.97M $350.24M $278.48M $282.44M $226.83M $157.52M $140.98M $107.77M $106.51M $102.88M $106.31M $111.66M $123.74M $120.41M $116.53M $66.37M
$160.67M $150.45M $156.25M $237.82M $77.62M $6.63M $11.74M $14.41M $8.96M $5.72M $2.57M $3.53M $3.61M $5.07M $4.17M $4.22M $3.77M $2.19M
$49.82M -$57.53M $103.87M -$35.27M -$41.22M -$3.69M $18.81M -$3.2M -$12.16M $115K -$10.83M -$27.17M -$8.26M -$2.8M -$1.33M -$6.51M $4.19M -$1000
-$8.88M $3.21M -$16.68M -$5.46M $10.57M $2.52M -$5.46M $5.46M $2.75M $1.16M -$17.8M $1.5M $4.17M $856K $9.92M $7.74M $4.93M $1.85M
— — — -$341K $448K $83.58M -$1.73M $1.12M — — — — — — — — — —
$650.63M $1.03B $739.43M $913.27M $490.52M -$611.27M -$1.86B $185.1M $131.11M -$9.38M $48.33M $6.35M -$99.82M -$5.14M -$132.16M -$96.63M -$188.65M -$114.68M
$286.06M $339.79M -$391.7M $209.48M $115.94M -$2.48M -$28.88M $66.89M $40.77M -$17.15M $28.03M $22.12M $4.63M $30.88M $29.74M -$26.22M $15.15M $11.33M
$134.7M $495.97M $896.29M $556.89M $266.44M -$650.9M -$1.72B $69.89M $60.25M -$6.02M $2.94M -$32.51M -$90.81M -$43.38M -$163.23M -$83.02M -$228.39M -$60.18M
— 1.97% 3.87% 2.45% 1.6% -10.38% -92.66% 0.61% 0.56% -0.06% 0.04% -0.45% -1.32% -0.67% -2.81% -1.54% -4.51% -1.44%
$229.86M $194.77M $234.84M $146.91M $108.14M $42.12M -$103.26M $48.32M $30.09M $13.79M $17.36M $16.74M -$13.64M $7.36M $1.33M $12.61M $20.35M $10.45M
-$258.03M -$54.83M $638.21M $309.46M $119.67M -$670.68M -$1.72B -$4.88M -$17.65M -$97.65M -$47.01M -$65.69M -$96.47M -$43.95M -$164.03M -$83.02M -$224.16M -$136.46M
$145.08M $716.21M $533.73M $674.42M $329.16M -$621.86M -$1.76B $69.41M $23.56M $62.15M -$62.11M -$74.16M -$158.45M -$34.83M -$137.78M -$97.15M -$254.83M -$50.95M
USD/shares -$1.12 -$0.24 $2.77 $1.35 $0.53 -$3.09 -$8.12 — — — — — — — — — — —
USD/shares -$1.13 -$0.24 $2.74 $1.34 $0.52 -$3.09 -$8.12 — — — — — — — — — — —
shares — 231.84M 230.12M 228.63M 224.81M 217.19M 212.27M 210.08M 207.44M 204.92M 202.08M 200.97M 198.87M 193.89M 186.96M 182.39M 164.41M 82.65M
shares — 231.84M 236.35M 230.98M 231.56M 217.19M 212.27M 210.08M 207.44M 204.92M 202.08M 200.97M 198.87M 193.89M 186.96M 182.39M 164.41M 82.65M
Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing. TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative.

Capital Returned to Shareholders

Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2009–FY2025: $30.9M in buybacks.

Debt Profile

Annual debt figures are established from 10-K filings and updated by subsequent 10-Q and 8-K disclosures. Instrument balances are not summed into a company total unless the filing itself reports that total.

Debt data is being processed. Please check back later.
1 filing has incomplete source or extraction coverage. Verified observations are shown; missing observations do not establish that debt was unchanged.

5.03% Series 2026C-1 Senior Secured Notes due December 31, 2032

Note · Live Nation VenueCo, LLC

Reference: 5.03% Series 2026C-1 Senior Secured Notes due December 31, 2032

Active
Outstanding
—
Commitment
—
Availability
—
Maturity
Dec 31, 2032
Documents and filing history
  1. Issuance · 2026-07-30 Outstanding — · carrying — Exact source document Parent 10-Q filing · 2026-07-30
    (iv) €65 million aggregate principal amount of 5.03% Series 2026C-1 Senior Secured Notes due December 31, 2032 (the "Series 2026C-1 Notes"),
    Issuer evidence: FIRST SUPPLEMENTAL MASTER INDENTURE dated as of May 8, 2026 (as amended and supplemented from time to time, this “First Supplemental Indenture”) by and among Live Nation VenueCo, LLC, a bankruptcy remote, special purpose Delaware limited liability company, as Group Representative (the “Group Representative”), each of the entities listed in Exhibit A hereto, duly organized and validly existing under the laws of the respective jurisdictions specified in Exhibit A, as the initial Members of the Obligated Group described herein (collectively, the “Initial Members”), any additional Members of the Obligated Group becoming a party hereto from time to time in accordance with Article XII of the Master Indenture and Mount Street Mortgage Servicing Limited, a limited liability company incorporated under the laws of England and Wales with registered number 03411668 and which has its registered office at 100 Wood Street, London, United Kingdom, EC2V 7AN, as master trustee for the benefit of the Holders (and any successor or assign, the “Master Trustee”), Mount Street Mortgage Servicing Limited, as master servicer (and any successor or assign, the “Master Servicer”) and HSBC Bank USA, National Association (the “Depository”) and the Dutch Elective Venue Unit.
    Supporting evidence: WHEREAS, the Group Representative, on behalf and as representative of the Members as permitted in the Master Indenture, has determined to issue an Obligation under the Master Indenture and hereunder to secure the obligations of the Obligated Group in connection with the issue and sale of (i) €75 million aggregate principal amount of 5.67% Series 2026A-1 Senior Secured Notes due December 31, 2047 (the “Series 2026A-1 Notes”), (ii) €270 million aggregate principal amount of 5.67% Series 2026A-2 Senior Secured Notes due December 31, 2047 (the “Series 2026A-2 Notes”), (iii) €45 million aggregate principal amount of 5.38% Series 2026B-2 Senior Secured Notes due December 31, 2037 (the “Series 2026B-2 Notes”), (iv) €65 million aggregate principal amount of 5.03% Series 2026C-1 Senior Secured Notes due December 31, 2032 (the “Series 2026C-1 Notes”), (v) €80 million aggregate principal amount of 5.03% Series 2026C-2 Senior Secured Notes due December 31, 2032 (the “Series 2026C-2 Notes”) and (vi) €75 million aggregate principal amount of 5.77% Series 2026D-1 Senior Secured Notes due December 31, 2055 (the “Series 2026D-1 Notes” and, together with the Series 2026A-1 Notes, the Series 2026A-2 Notes, the Series 2026B-2 Notes, the Series 2026C-1 Notes and the Series 2026C-2 Notes, the “Notes”) issued by the Group Representative, on behalf and as representative of the Obligated Group, pursuant to the Note Purchase Agreement, dated as of April 30, 2026 (the “Note Purchase Agreement”), by and among the Group Representative, on behalf and as representative of the Obligated Group, HSBC Bank USA, National Association,
    Supporting evidence: WHEREAS, the Group Representative, on behalf and as representative of the Members as permitted in the Master Indenture, has determined to issue an Obligation under the Master Indenture and hereunder to secure the obligations of the Obligated Group in connection with the issue and sale of (i) €75 million aggregate principal amount of 5.67% Series 2026A-1 Senior Secured Notes due December 31, 2047 (the “Series 2026A-1 Notes”), (ii) €270 million aggregate principal amount of 5.67% Series 2026A-2 Senior Secured Notes due December 31, 2047 (the “Series 2026A-2 Notes”), (iii) €45 million aggregate principal amount of 5.38% Series 2026B-2 Senior Secured Notes due December 31, 2037 (the “Series 2026B-2 Notes”), (iv) €65 million aggregate principal amount of 5.03% Series 2026C-1 Senior Secured Notes due December 31, 2032 (the “Series 2026C-1 Notes”), (v) €80 million aggregate principal amount of 5.03% Series 2026C-2 Senior Secured Notes due December 31, 2032 (the “Series 2026C-2 Notes”) and (vi) €75 million aggregate principal amount of 5.77% Series 2026D-1 Senior Secured Notes due December 31, 2055 (the “Series 2026D-1 Notes” and, together with the Series 2026A-1 Notes, the Series 2026A-2 Notes, the Series 2026B-2 Notes, the Series 2026C-1 Notes and the Series 2026C-2 Notes, the “Notes”) issued by the Group Representative, on behalf and as representative of the Obligated Group, pursuant to the Note Purchase Agreement, dated as of April 30, 2026 (the “Note Purchase Agreement”), by and among the Group Representative, on behalf and as representative of the Obligated Group, HSBC Bank USA, National Association,

5.03% Series 2026C-2 Senior Secured Notes due December 31, 2032

Note · Live Nation VenueCo, LLC

Reference: 5.03% Series 2026C-2 Senior Secured Notes due December 31, 2032

Active
Outstanding
—
Commitment
—
Availability
—
Maturity
Dec 31, 2032
Documents and filing history
  1. Issuance · 2026-07-30 Outstanding — · carrying — Exact source document Parent 10-Q filing · 2026-07-30
    (v) €80 million aggregate principal amount of 5.03% Series 2026C-2 Senior Secured Notes due December 31, 2032 (the "Series 2026C-2 Notes")
    Issuer evidence: FIRST SUPPLEMENTAL MASTER INDENTURE dated as of May 8, 2026 (as amended and supplemented from time to time, this “First Supplemental Indenture”) by and among Live Nation VenueCo, LLC, a bankruptcy remote, special purpose Delaware limited liability company, as Group Representative (the “Group Representative”), each of the entities listed in Exhibit A hereto, duly organized and validly existing under the laws of the respective jurisdictions specified in Exhibit A, as the initial Members of the Obligated Group described herein (collectively, the “Initial Members”), any additional Members of the Obligated Group becoming a party hereto from time to time in accordance with Article XII of the Master Indenture and Mount Street Mortgage Servicing Limited, a limited liability company incorporated under the laws of England and Wales with registered number 03411668 and which has its registered office at 100 Wood Street, London, United Kingdom, EC2V 7AN, as master trustee for the benefit of the Holders (and any successor or assign, the “Master Trustee”), Mount Street Mortgage Servicing Limited, as master servicer (and any successor or assign, the “Master Servicer”) and HSBC Bank USA, National Association (the “Depository”) and the Dutch Elective Venue Unit.
    Supporting evidence: WHEREAS, the Group Representative, on behalf and as representative of the Members as permitted in the Master Indenture, has determined to issue an Obligation under the Master Indenture and hereunder to secure the obligations of the Obligated Group in connection with the issue and sale of (i) €75 million aggregate principal amount of 5.67% Series 2026A-1 Senior Secured Notes due December 31, 2047 (the “Series 2026A-1 Notes”), (ii) €270 million aggregate principal amount of 5.67% Series 2026A-2 Senior Secured Notes due December 31, 2047 (the “Series 2026A-2 Notes”), (iii) €45 million aggregate principal amount of 5.38% Series 2026B-2 Senior Secured Notes due December 31, 2037 (the “Series 2026B-2 Notes”), (iv) €65 million aggregate principal amount of 5.03% Series 2026C-1 Senior Secured Notes due December 31, 2032 (the “Series 2026C-1 Notes”), (v) €80 million aggregate principal amount of 5.03% Series 2026C-2 Senior Secured Notes due December 31, 2032 (the “Series 2026C-2 Notes”) and (vi) €75 million aggregate principal amount of 5.77% Series 2026D-1 Senior Secured Notes due December 31, 2055 (the “Series 2026D-1 Notes” and, together with the Series 2026A-1 Notes, the Series 2026A-2 Notes, the Series 2026B-2 Notes, the Series 2026C-1 Notes and the Series 2026C-2 Notes, the “Notes”) issued by the Group Representative, on behalf and as representative of the Obligated Group, pursuant to the Note Purchase Agreement, dated as of April 30, 2026 (the “Note Purchase Agreement”), by and among the Group Representative, on behalf and as representative of the Obligated Group, HSBC Bank USA, National Association,
    Supporting evidence: WHEREAS, the Group Representative, on behalf and as representative of the Members as permitted in the Master Indenture, has determined to issue an Obligation under the Master Indenture and hereunder to secure the obligations of the Obligated Group in connection with the issue and sale of (i) €75 million aggregate principal amount of 5.67% Series 2026A-1 Senior Secured Notes due December 31, 2047 (the “Series 2026A-1 Notes”), (ii) €270 million aggregate principal amount of 5.67% Series 2026A-2 Senior Secured Notes due December 31, 2047 (the “Series 2026A-2 Notes”), (iii) €45 million aggregate principal amount of 5.38% Series 2026B-2 Senior Secured Notes due December 31, 2037 (the “Series 2026B-2 Notes”), (iv) €65 million aggregate principal amount of 5.03% Series 2026C-1 Senior Secured Notes due December 31, 2032 (the “Series 2026C-1 Notes”), (v) €80 million aggregate principal amount of 5.03% Series 2026C-2 Senior Secured Notes due December 31, 2032 (the “Series 2026C-2 Notes”) and (vi) €75 million aggregate principal amount of 5.77% Series 2026D-1 Senior Secured Notes due December 31, 2055 (the “Series 2026D-1 Notes” and, together with the Series 2026A-1 Notes, the Series 2026A-2 Notes, the Series 2026B-2 Notes, the Series 2026C-1 Notes and the Series 2026C-2 Notes, the “Notes”) issued by the Group Representative, on behalf and as representative of the Obligated Group, pursuant to the Note Purchase Agreement, dated as of April 30, 2026 (the “Note Purchase Agreement”), by and among the Group Representative, on behalf and as representative of the Obligated Group, HSBC Bank USA, National Association,

5.38% Series 2026B-2 Senior Secured Notes due December 31, 2037

Note · Live Nation VenueCo, LLC

Reference: 5.38% Series 2026B-2 Senior Secured Notes due December 31, 2037

Active
Outstanding
—
Commitment
—
Availability
—
Maturity
Dec 31, 2037
Documents and filing history
  1. Issuance · 2026-07-30 Outstanding — · carrying — Exact source document Parent 10-Q filing · 2026-07-30
    (iii) €45 million aggregate principal amount of 5.38% Series 2026B-2 Senior Secured Notes due December 31, 2037 (the "Series 2026B-2 Notes"),
    Issuer evidence: FIRST SUPPLEMENTAL MASTER INDENTURE dated as of May 8, 2026 (as amended and supplemented from time to time, this “First Supplemental Indenture”) by and among Live Nation VenueCo, LLC, a bankruptcy remote, special purpose Delaware limited liability company, as Group Representative (the “Group Representative”), each of the entities listed in Exhibit A hereto, duly organized and validly existing under the laws of the respective jurisdictions specified in Exhibit A, as the initial Members of the Obligated Group described herein (collectively, the “Initial Members”), any additional Members of the Obligated Group becoming a party hereto from time to time in accordance with Article XII of the Master Indenture and Mount Street Mortgage Servicing Limited, a limited liability company incorporated under the laws of England and Wales with registered number 03411668 and which has its registered office at 100 Wood Street, London, United Kingdom, EC2V 7AN, as master trustee for the benefit of the Holders (and any successor or assign, the “Master Trustee”), Mount Street Mortgage Servicing Limited, as master servicer (and any successor or assign, the “Master Servicer”) and HSBC Bank USA, National Association (the “Depository”) and the Dutch Elective Venue Unit.
    Supporting evidence: WHEREAS, the Group Representative, on behalf and as representative of the Members as permitted in the Master Indenture, has determined to issue an Obligation under the Master Indenture and hereunder to secure the obligations of the Obligated Group in connection with the issue and sale of (i) €75 million aggregate principal amount of 5.67% Series 2026A-1 Senior Secured Notes due December 31, 2047 (the “Series 2026A-1 Notes”), (ii) €270 million aggregate principal amount of 5.67% Series 2026A-2 Senior Secured Notes due December 31, 2047 (the “Series 2026A-2 Notes”), (iii) €45 million aggregate principal amount of 5.38% Series 2026B-2 Senior Secured Notes due December 31, 2037 (the “Series 2026B-2 Notes”), (iv) €65 million aggregate principal amount of 5.03% Series 2026C-1 Senior Secured Notes due December 31, 2032 (the “Series 2026C-1 Notes”), (v) €80 million aggregate principal amount of 5.03% Series 2026C-2 Senior Secured Notes due December 31, 2032 (the “Series 2026C-2 Notes”) and (vi) €75 million aggregate principal amount of 5.77% Series 2026D-1 Senior Secured Notes due December 31, 2055 (the “Series 2026D-1 Notes” and, together with the Series 2026A-1 Notes, the Series 2026A-2 Notes, the Series 2026B-2 Notes, the Series 2026C-1 Notes and the Series 2026C-2 Notes, the “Notes”) issued by the Group Representative, on behalf and as representative of the Obligated Group, pursuant to the Note Purchase Agreement, dated as of April 30, 2026 (the “Note Purchase Agreement”), by and among the Group Representative, on behalf and as representative of the Obligated Group, HSBC Bank USA, National Association,
    Supporting evidence: WHEREAS, the Group Representative, on behalf and as representative of the Members as permitted in the Master Indenture, has determined to issue an Obligation under the Master Indenture and hereunder to secure the obligations of the Obligated Group in connection with the issue and sale of (i) €75 million aggregate principal amount of 5.67% Series 2026A-1 Senior Secured Notes due December 31, 2047 (the “Series 2026A-1 Notes”), (ii) €270 million aggregate principal amount of 5.67% Series 2026A-2 Senior Secured Notes due December 31, 2047 (the “Series 2026A-2 Notes”), (iii) €45 million aggregate principal amount of 5.38% Series 2026B-2 Senior Secured Notes due December 31, 2037 (the “Series 2026B-2 Notes”), (iv) €65 million aggregate principal amount of 5.03% Series 2026C-1 Senior Secured Notes due December 31, 2032 (the “Series 2026C-1 Notes”), (v) €80 million aggregate principal amount of 5.03% Series 2026C-2 Senior Secured Notes due December 31, 2032 (the “Series 2026C-2 Notes”) and (vi) €75 million aggregate principal amount of 5.77% Series 2026D-1 Senior Secured Notes due December 31, 2055 (the “Series 2026D-1 Notes” and, together with the Series 2026A-1 Notes, the Series 2026A-2 Notes, the Series 2026B-2 Notes, the Series 2026C-1 Notes and the Series 2026C-2 Notes, the “Notes”) issued by the Group Representative, on behalf and as representative of the Obligated Group, pursuant to the Note Purchase Agreement, dated as of April 30, 2026 (the “Note Purchase Agreement”), by and among the Group Representative, on behalf and as representative of the Obligated Group, HSBC Bank USA, National Association,

5.67% Series 2026A-1 Senior Secured Notes due December 31, 2047

Note · Live Nation VenueCo, LLC

Reference: 5.67% Series 2026A-1 Senior Secured Notes due December 31, 2047

Active
Outstanding
—
Commitment
—
Availability
—
Maturity
Dec 31, 2047
Documents and filing history
  1. Issuance · 2026-07-30 Outstanding — · carrying — Exact source document Parent 10-Q filing · 2026-07-30
    (i) €75 million aggregate principal amount of 5.67% Series 2026A-1 Senior Secured Notes due December 31, 2047 (the "Series 2026A-1 Notes"),
    Issuer evidence: FIRST SUPPLEMENTAL MASTER INDENTURE dated as of May 8, 2026 (as amended and supplemented from time to time, this “First Supplemental Indenture”) by and among Live Nation VenueCo, LLC, a bankruptcy remote, special purpose Delaware limited liability company, as Group Representative (the “Group Representative”), each of the entities listed in Exhibit A hereto, duly organized and validly existing under the laws of the respective jurisdictions specified in Exhibit A, as the initial Members of the Obligated Group described herein (collectively, the “Initial Members”), any additional Members of the Obligated Group becoming a party hereto from time to time in accordance with Article XII of the Master Indenture and Mount Street Mortgage Servicing Limited, a limited liability company incorporated under the laws of England and Wales with registered number 03411668 and which has its registered office at 100 Wood Street, London, United Kingdom, EC2V 7AN, as master trustee for the benefit of the Holders (and any successor or assign, the “Master Trustee”), Mount Street Mortgage Servicing Limited, as master servicer (and any successor or assign, the “Master Servicer”) and HSBC Bank USA, National Association (the “Depository”) and the Dutch Elective Venue Unit.
    Supporting evidence: WHEREAS, the Group Representative, on behalf and as representative of the Members as permitted in the Master Indenture, has determined to issue an Obligation under the Master Indenture and hereunder to secure the obligations of the Obligated Group in connection with the issue and sale of (i) €75 million aggregate principal amount of 5.67% Series 2026A-1 Senior Secured Notes due December 31, 2047 (the “Series 2026A-1 Notes”), (ii) €270 million aggregate principal amount of 5.67% Series 2026A-2 Senior Secured Notes due December 31, 2047 (the “Series 2026A-2 Notes”), (iii) €45 million aggregate principal amount of 5.38% Series 2026B-2 Senior Secured Notes due December 31, 2037 (the “Series 2026B-2 Notes”), (iv) €65 million aggregate principal amount of 5.03% Series 2026C-1 Senior Secured Notes due December 31, 2032 (the “Series 2026C-1 Notes”), (v) €80 million aggregate principal amount of 5.03% Series 2026C-2 Senior Secured Notes due December 31, 2032 (the “Series 2026C-2 Notes”) and (vi) €75 million aggregate principal amount of 5.77% Series 2026D-1 Senior Secured Notes due December 31, 2055 (the “Series 2026D-1 Notes” and, together with the Series 2026A-1 Notes, the Series 2026A-2 Notes, the Series 2026B-2 Notes, the Series 2026C-1 Notes and the Series 2026C-2 Notes, the “Notes”) issued by the Group Representative, on behalf and as representative of the Obligated Group, pursuant to the Note Purchase Agreement, dated as of April 30, 2026 (the “Note Purchase Agreement”), by and among the Group Representative, on behalf and as representative of the Obligated Group, HSBC Bank USA, National Association,
    Supporting evidence: WHEREAS, the Group Representative, on behalf and as representative of the Members as permitted in the Master Indenture, has determined to issue an Obligation under the Master Indenture and hereunder to secure the obligations of the Obligated Group in connection with the issue and sale of (i) €75 million aggregate principal amount of 5.67% Series 2026A-1 Senior Secured Notes due December 31, 2047 (the “Series 2026A-1 Notes”), (ii) €270 million aggregate principal amount of 5.67% Series 2026A-2 Senior Secured Notes due December 31, 2047 (the “Series 2026A-2 Notes”), (iii) €45 million aggregate principal amount of 5.38% Series 2026B-2 Senior Secured Notes due December 31, 2037 (the “Series 2026B-2 Notes”), (iv) €65 million aggregate principal amount of 5.03% Series 2026C-1 Senior Secured Notes due December 31, 2032 (the “Series 2026C-1 Notes”), (v) €80 million aggregate principal amount of 5.03% Series 2026C-2 Senior Secured Notes due December 31, 2032 (the “Series 2026C-2 Notes”) and (vi) €75 million aggregate principal amount of 5.77% Series 2026D-1 Senior Secured Notes due December 31, 2055 (the “Series 2026D-1 Notes” and, together with the Series 2026A-1 Notes, the Series 2026A-2 Notes, the Series 2026B-2 Notes, the Series 2026C-1 Notes and the Series 2026C-2 Notes, the “Notes”) issued by the Group Representative, on behalf and as representative of the Obligated Group, pursuant to the Note Purchase Agreement, dated as of April 30, 2026 (the “Note Purchase Agreement”), by and among the Group Representative, on behalf and as representative of the Obligated Group, HSBC Bank USA, National Association,

5.67% Series 2026A-2 Senior Secured Notes due December 31, 2047

Note · Live Nation VenueCo, LLC

Reference: 5.67% Series 2026A-2 Senior Secured Notes due December 31, 2047

Active
Outstanding
—
Commitment
—
Availability
—
Maturity
Dec 31, 2047
Documents and filing history
  1. Issuance · 2026-07-30 Outstanding — · carrying — Exact source document Parent 10-Q filing · 2026-07-30
    (ii) €270 million aggregate principal amount of 5.67% Series 2026A-2 Senior Secured Notes due December 31, 2047 (the "Series 2026A-2 Notes"),
    Issuer evidence: FIRST SUPPLEMENTAL MASTER INDENTURE dated as of May 8, 2026 (as amended and supplemented from time to time, this “First Supplemental Indenture”) by and among Live Nation VenueCo, LLC, a bankruptcy remote, special purpose Delaware limited liability company, as Group Representative (the “Group Representative”), each of the entities listed in Exhibit A hereto, duly organized and validly existing under the laws of the respective jurisdictions specified in Exhibit A, as the initial Members of the Obligated Group described herein (collectively, the “Initial Members”), any additional Members of the Obligated Group becoming a party hereto from time to time in accordance with Article XII of the Master Indenture and Mount Street Mortgage Servicing Limited, a limited liability company incorporated under the laws of England and Wales with registered number 03411668 and which has its registered office at 100 Wood Street, London, United Kingdom, EC2V 7AN, as master trustee for the benefit of the Holders (and any successor or assign, the “Master Trustee”), Mount Street Mortgage Servicing Limited, as master servicer (and any successor or assign, the “Master Servicer”) and HSBC Bank USA, National Association (the “Depository”) and the Dutch Elective Venue Unit.
    Supporting evidence: WHEREAS, the Group Representative, on behalf and as representative of the Members as permitted in the Master Indenture, has determined to issue an Obligation under the Master Indenture and hereunder to secure the obligations of the Obligated Group in connection with the issue and sale of (i) €75 million aggregate principal amount of 5.67% Series 2026A-1 Senior Secured Notes due December 31, 2047 (the “Series 2026A-1 Notes”), (ii) €270 million aggregate principal amount of 5.67% Series 2026A-2 Senior Secured Notes due December 31, 2047 (the “Series 2026A-2 Notes”), (iii) €45 million aggregate principal amount of 5.38% Series 2026B-2 Senior Secured Notes due December 31, 2037 (the “Series 2026B-2 Notes”), (iv) €65 million aggregate principal amount of 5.03% Series 2026C-1 Senior Secured Notes due December 31, 2032 (the “Series 2026C-1 Notes”), (v) €80 million aggregate principal amount of 5.03% Series 2026C-2 Senior Secured Notes due December 31, 2032 (the “Series 2026C-2 Notes”) and (vi) €75 million aggregate principal amount of 5.77% Series 2026D-1 Senior Secured Notes due December 31, 2055 (the “Series 2026D-1 Notes” and, together with the Series 2026A-1 Notes, the Series 2026A-2 Notes, the Series 2026B-2 Notes, the Series 2026C-1 Notes and the Series 2026C-2 Notes, the “Notes”) issued by the Group Representative, on behalf and as representative of the Obligated Group, pursuant to the Note Purchase Agreement, dated as of April 30, 2026 (the “Note Purchase Agreement”), by and among the Group Representative, on behalf and as representative of the Obligated Group, HSBC Bank USA, National Association,
    Supporting evidence: WHEREAS, the Group Representative, on behalf and as representative of the Members as permitted in the Master Indenture, has determined to issue an Obligation under the Master Indenture and hereunder to secure the obligations of the Obligated Group in connection with the issue and sale of (i) €75 million aggregate principal amount of 5.67% Series 2026A-1 Senior Secured Notes due December 31, 2047 (the “Series 2026A-1 Notes”), (ii) €270 million aggregate principal amount of 5.67% Series 2026A-2 Senior Secured Notes due December 31, 2047 (the “Series 2026A-2 Notes”), (iii) €45 million aggregate principal amount of 5.38% Series 2026B-2 Senior Secured Notes due December 31, 2037 (the “Series 2026B-2 Notes”), (iv) €65 million aggregate principal amount of 5.03% Series 2026C-1 Senior Secured Notes due December 31, 2032 (the “Series 2026C-1 Notes”), (v) €80 million aggregate principal amount of 5.03% Series 2026C-2 Senior Secured Notes due December 31, 2032 (the “Series 2026C-2 Notes”) and (vi) €75 million aggregate principal amount of 5.77% Series 2026D-1 Senior Secured Notes due December 31, 2055 (the “Series 2026D-1 Notes” and, together with the Series 2026A-1 Notes, the Series 2026A-2 Notes, the Series 2026B-2 Notes, the Series 2026C-1 Notes and the Series 2026C-2 Notes, the “Notes”) issued by the Group Representative, on behalf and as representative of the Obligated Group, pursuant to the Note Purchase Agreement, dated as of April 30, 2026 (the “Note Purchase Agreement”), by and among the Group Representative, on behalf and as representative of the Obligated Group, HSBC Bank USA, National Association,

5.77% Series 2026D-1 Senior Secured Notes due December 31, 2055

Note · Live Nation VenueCo, LLC

Reference: 5.77% Series 2026D-1 Senior Secured Notes due December 31, 2055

Active
Outstanding
—
Commitment
—
Availability
—
Maturity
Dec 31, 2055
Documents and filing history
  1. Issuance · 2026-07-30 Outstanding — · carrying — Exact source document Parent 10-Q filing · 2026-07-30
    (vi) €75 million aggregate principal amount of 5.77% Series 2026D-1 Senior Secured Notes due December 31, 2055 (the "Series 2026D-1 Notes"
    Issuer evidence: FIRST SUPPLEMENTAL MASTER INDENTURE dated as of May 8, 2026 (as amended and supplemented from time to time, this “First Supplemental Indenture”) by and among Live Nation VenueCo, LLC, a bankruptcy remote, special purpose Delaware limited liability company, as Group Representative (the “Group Representative”), each of the entities listed in Exhibit A hereto, duly organized and validly existing under the laws of the respective jurisdictions specified in Exhibit A, as the initial Members of the Obligated Group described herein (collectively, the “Initial Members”), any additional Members of the Obligated Group becoming a party hereto from time to time in accordance with Article XII of the Master Indenture and Mount Street Mortgage Servicing Limited, a limited liability company incorporated under the laws of England and Wales with registered number 03411668 and which has its registered office at 100 Wood Street, London, United Kingdom, EC2V 7AN, as master trustee for the benefit of the Holders (and any successor or assign, the “Master Trustee”), Mount Street Mortgage Servicing Limited, as master servicer (and any successor or assign, the “Master Servicer”) and HSBC Bank USA, National Association (the “Depository”) and the Dutch Elective Venue Unit.
    Supporting evidence: WHEREAS, the Group Representative, on behalf and as representative of the Members as permitted in the Master Indenture, has determined to issue an Obligation under the Master Indenture and hereunder to secure the obligations of the Obligated Group in connection with the issue and sale of (i) €75 million aggregate principal amount of 5.67% Series 2026A-1 Senior Secured Notes due December 31, 2047 (the “Series 2026A-1 Notes”), (ii) €270 million aggregate principal amount of 5.67% Series 2026A-2 Senior Secured Notes due December 31, 2047 (the “Series 2026A-2 Notes”), (iii) €45 million aggregate principal amount of 5.38% Series 2026B-2 Senior Secured Notes due December 31, 2037 (the “Series 2026B-2 Notes”), (iv) €65 million aggregate principal amount of 5.03% Series 2026C-1 Senior Secured Notes due December 31, 2032 (the “Series 2026C-1 Notes”), (v) €80 million aggregate principal amount of 5.03% Series 2026C-2 Senior Secured Notes due December 31, 2032 (the “Series 2026C-2 Notes”) and (vi) €75 million aggregate principal amount of 5.77% Series 2026D-1 Senior Secured Notes due December 31, 2055 (the “Series 2026D-1 Notes” and, together with the Series 2026A-1 Notes, the Series 2026A-2 Notes, the Series 2026B-2 Notes, the Series 2026C-1 Notes and the Series 2026C-2 Notes, the “Notes”) issued by the Group Representative, on behalf and as representative of the Obligated Group, pursuant to the Note Purchase Agreement, dated as of April 30, 2026 (the “Note Purchase Agreement”), by and among the Group Representative, on behalf and as representative of the Obligated Group, HSBC Bank USA, National Association,
    Supporting evidence: WHEREAS, the Group Representative, on behalf and as representative of the Members as permitted in the Master Indenture, has determined to issue an Obligation under the Master Indenture and hereunder to secure the obligations of the Obligated Group in connection with the issue and sale of (i) €75 million aggregate principal amount of 5.67% Series 2026A-1 Senior Secured Notes due December 31, 2047 (the “Series 2026A-1 Notes”), (ii) €270 million aggregate principal amount of 5.67% Series 2026A-2 Senior Secured Notes due December 31, 2047 (the “Series 2026A-2 Notes”), (iii) €45 million aggregate principal amount of 5.38% Series 2026B-2 Senior Secured Notes due December 31, 2037 (the “Series 2026B-2 Notes”), (iv) €65 million aggregate principal amount of 5.03% Series 2026C-1 Senior Secured Notes due December 31, 2032 (the “Series 2026C-1 Notes”), (v) €80 million aggregate principal amount of 5.03% Series 2026C-2 Senior Secured Notes due December 31, 2032 (the “Series 2026C-2 Notes”) and (vi) €75 million aggregate principal amount of 5.77% Series 2026D-1 Senior Secured Notes due December 31, 2055 (the “Series 2026D-1 Notes” and, together with the Series 2026A-1 Notes, the Series 2026A-2 Notes, the Series 2026B-2 Notes, the Series 2026C-1 Notes and the Series 2026C-2 Notes, the “Notes”) issued by the Group Representative, on behalf and as representative of the Obligated Group, pursuant to the Note Purchase Agreement, dated as of April 30, 2026 (the “Note Purchase Agreement”), by and among the Group Representative, on behalf and as representative of the Obligated Group, HSBC Bank USA, National Association,

Price & Valuation

Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.

Valuation

EV/Revenue
1.54×
Peer median 2.94×
EV/EBIT
50.41×
Peer median 19.64×
P/E (TTM)
—
Peer median 26.45×

Peer medians compare against the 16 similar-size Entertainment companies (of 45 listed).

Valuation over time computed as of each quarter's filing date

Revenue Breakdown

Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.

Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.

By Segment (USD)

Component FY2025 FY2024 FY2023 FY2022 FY2021 FY2020 FY2019 FY2018
Concerts $20,860,726,000 $19,024,302,000 $18,740,913,000 $13,494,100,000 $4,722,190,000 $1,468,433,000 $9,428,094,000 $8,770,031,000
Ticketing $3,081,166,000 $2,988,685,000 $2,959,477,000 $2,238,618,000 $1,134,268,000 $188,383,000 $1,545,189,000 $1,529,566,000
Sponsorship and Advertising $1,329,233,000 $1,195,019,000 $1,095,217,000 $968,146,000 $411,910,000 $203,676,000 $590,274,000 $503,968,000
Corporate $0 $0 $0 $0 $0 $0 $0 $0
All Other Segments — — — — — — $3,162,000 $3,724,000

By Geography (USD)

Component FY2025 FY2024 FY2023 FY2022 FY2021 FY2020 FY2019 FY2018
Total Domestic Operations $14,329,362,000 $14,374,056,000 $14,215,272,000 $11,046,491,000 $5,082,357,000 $1,195,884,000 $7,632,543,000 $7,126,578,000
Europe $5,815,492,000 $4,621,210,000 $4,425,854,000 $3,160,268,000 $869,628,000 $407,382,000 — —
Total Other Foreign Operations $5,056,552,000 $4,160,359,000 $4,085,191,000 $2,474,495,000 $316,462,000 $257,912,000 $3,076,486,000 $2,867,626,000
United Kingdom — — — — $594,809,000 $194,177,000 $838,940,000 $793,596,000

Segment Operating Income

Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.

By Segment (USD)

Component FY2021 FY2020 FY2019 FY2018 FY2017
Sponsorship and Advertising $202,177,000 $44,873,000 $330,270,000 $283,153,000 $251,486,000
Ticketing $170,343,000 -$612,002,000 $231,958,000 $201,914,000 $90,905,000
All Other Segments $180,000 -$13,440,000 -$1,114,000 -$18,311,000 -$17,338,000
Corporate -$172,072,000 -$113,648,000 -$182,807,000 -$158,015,000 -$140,067,000
Concerts -$618,486,000 -$958,975,000 -$53,463,000 -$36,205,000 -$93,589,000

Operating Margin by Segment (%)

Component FY2021 FY2020 FY2019 FY2018
Concerts -13.1% -65.3% -0.6% -0.4%
Ticketing 15% -324.9% 15% 13.2%
Sponsorship and Advertising 49.1% 22% 56% 56.2%
All Other Segments — — -35.2% -491.7%
Key facts CIK 1335258 CUSIP 538034109 13F (30d) 22 filings 16 filers Visit website Investor relations