Live Nation targets $850 million in venue AOI by 2031 through a $5.6 billion pipeline of 38 venues. Ticketmaster expects 490 million fee-bearing tickets at a 6% CAGR, while sponsorship early sales for 2027 are up 15%.
LYV · Live Nation Entertainment, Inc.
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Live Nation said Third Quarter 2026 concert attendance exceeded 60 million, up almost 20%, with full-year fans guided toward close to 180 million. Ticketmaster expects high single-digit AOI growth, while concerts retain double-digit AOI growth expectations.
Live Nation Entertainment reported third-quarter 2026 revenue of $10.1 billion, up 19%, and AOI of $1.18 billion, up 14%, as fan attendance reached 61 million, up 19%.
Live Nation Entertainment closed a $730.0 million 7.125% and €600.0 million 6.125% senior notes offering due 2032 on October 15, 2026, and amended its credit facilities to extend maturities and raise commitments to $1,450 million, $435 million, and $725 million.
Metrics snapshot
Useful current figures from the complete screener profile.
Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q2 FY26 earnings call · Jul 30, 2026TL;DR. Live Nation posted record Q2 with 49 million fans, 9% revenue growth, and raised its full-year concert guidance to double-digit fan, revenue and AOI growth, while a $450M governmental investigations/legal accrual weighed on GAAP operating income which fell 75% year-to-date.
- + Record fan attendance of 49 million, up 10% YoY, with full-year concert attendance now projected to grow 10%
- + Ticketmaster AOI up 14% on 8% growth in fee-bearing tickets, with full-year Ticketmaster AOI growth raised to mid-single digits
- + Sponsorship AOI up 13% with double-digit full-year growth expected, backed by 95% of 2026 commitments already booked
- + Concerts segment reiterated for double-digit full-year AOI growth with margin expansion, supported by record $6.4B deferred revenue up 25%
- + Venue Nation on track for ~75 million fans in 2026, with 25+ large venues in pipeline adding 15 million fans of run-rate capacity by end of 2027
- − Q2 Concerts AOI fell 14% to $310M on stadium timing, venue pre-opening costs and new international festivals
- − U.S. stadium attendance declined in Q2 due to show timing, pushing all U.S. fan growth into the second half
- − Full-year CapEx raised to $1.1B with $800M tied to venue expansion, increasing near-term cash outlays
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Research
our published analysis of this companyEquibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted Operating Income | $1.18B | FY2026 Q3 | +14.2% |
|
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| Deferred GTV | 5.2B | Q2 2026 | — |
| Deferred service fee revenue | $390M | Q2 2026 | — |
| Estimated events - International | 5,785 | Three Months Ended June 30, 2026 filing | — |
| Estimated events - North America | 9,473 | Three Months Ended June 30, 2026 filing | — |
| Estimated fans - International | 25.59M | Three Months Ended June 30, 2026 filing | — |
| Estimated fans - North America | 23.12M | Three Months Ended June 30, 2026 filing | — |
| Estimated number of fee-bearing tickets sold | 90.05M | Three Months Ended June 30, 2026 filing | — |
| Estimated number of non-fee-bearing tickets sold | 71.47M | Three Months Ended June 30, 2026 filing | — |
| Event-related deferred revenue | 6.4B | Q2 2026 | — |
| Fan count | 49M | Q2 2026 | — |
| Fee-bearing GTV | 10.4B | second quarter of 2026 filing | — |
| Fee-bearing ticket sales | 90.1M | second quarter of 2026 filing | — |
| Fee-bearing tickets sold | 90M | Q2 2026 | — |
| Free cash non-GAAP | $1.93B | as of June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP Cash and cash equivalents 9.07B
+65.6M Short-term investments
-1.93B Client cash
-6.41B Deferred revenue — event-related
-336.8M Accrued artist fees
-141.1M Collections on behalf of others
+1.61B Prepaid expenses — event-related
= Free cash 1.93B
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| Free cash flow from earnings non-GAAP | $943.4M | 6 Months 2026 | — |
| Free cash flow — adjusted non-GAAP | $690.6M | 6 Months 2026 | — |
| Number of events | 15,300 | second quarter of 2026 filing | — |
| Tickets sold year-to-date | 143M | through mid-July 2026 | — |
| Total estimated events | 15,258 | Three Months Ended June 30, 2026 filing | — |
| Total estimated fans | 48.71M | Three Months Ended June 30, 2026 filing | — |
| Total estimated tickets sold | 161.52M | Three Months Ended June 30, 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Entertainment — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
LYV
this stock
Live Nation Entertainment, Inc.
|
$42.06B | +25.2% | +8.8% | — | 10.8% |
|
NFLX
Netflix Inc
|
$255.21B | -33.7% | +15.9% | 18.0 | 2.2% |
|
DIS
Walt Disney Co
|
$205.42B | +4.6% | +3.4% | 24.6 | 1.2% |
|
SKYD
Skydance Corp
|
$37.93B | — | -1.5% | — | 2.9% |
|
TKO
TKO Group Holdings, Inc.
|
$36.86B | -6.5% | -3.1% | — | 4.1% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Nov 10, 2026
- This year
- 19
Live Nation targets $850 million in venue AOI by 2031 through a $5.6 billion pipeline of 38 venues. Ticketmaster expects 490 million fee-bearing tickets at a 6% CAGR, while sponsorship early sales for 2027 are up 15%.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| LYV | +1.8% | +4.7% | +7.2% | +0.3% | +25.2% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | -0.8% | +5.8% | +6.7% | +0.5% | +14.6% |