HighGravityDataLive Nation Entertainment — May 1, 2025 release
Fiscal 2025 first-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001335258-25-000053
Showing in the filing
Adjusted operating income (AOI) growth
“double-digit growth”
Period
FY2025
Measure
Company-defined measure
Source
Prose
All guidance in this release · 31
Adjusted operating income (AOI) growth for FY2025
“double-digit growth”
Concerts segment full-year AOI margin for FY2025
“consistent with last year”
Tariff impact on supply chain and touring lo… for FY2025
“minimal impact”
Impact from tariffs to supply chain or touri…
“minimal”
Fans attending shows in operated venues for FY2025
“up double-digits”
Fans attending shows in our operated venues for FY2025
“up double-digits”
Large venues to open globally for FY2026
“at least 20”
New large venue openings for FY2026
“at least 20 large venues”
Incremental fan capacity from venue expansion for FY2026
“approximately seven million incremental fans on a run-rate basis”
Average investment returns on venue expansion for FY2026
“20%+”
Ticketing segment AOI growth for FY2025
“AOI growth accelerating into 2H”
AOI margin for FY2025
“in the high 30s, consistent with prior years”
Capital expenditures for FY2025
“$900 million to $1 billion”
Venue expansion and enhancement capital expe… for FY2025
“$700 to $800 million”
IRRs on venue expansion and enhancement plans
“averaging 20%+”
IRRs on venue expansion and enhancement plans for FY2025
“20%+”
Funding from joint-venture partners, sponsor… for FY2025
“Approximately $200 to $250 million”
Maintenance capex spend for FY2025
“remains consistent with historical levels”
Maintenance capex spend
“consistent with historical levels”
Foreign exchange impact on revenue, operatin… for Q2 FY2025
“low-single digits”
Impact of foreign exchange to revenue, opera… for Q2 FY2025
“low-single digits”
Depreciation and amortization for FY2025
“increase by approximately $75 million compared to last year”
Depreciation and amortization increase for FY2025
“approximately $75 million”
Accretion for FY2025
“$125 million higher than last year”
Accretion increase for FY2025
“$125 million higher than last year”
Non-controlling interest and taxes for FY2025
“expected to increase in line with our AOI growth”
Share count for FY2025
“not expected to change materially from 2024”
Long-term growth for the long term
“double-digits”
Ticketing segment full-year AOI margin for FY2025
“in the high 30s, consistent with prior years”
Sponsorship & Advertising segment full-year … for FY2025
“in the low 60s, consistent with prior years”
AOI to free cash flow—adjusted conversion rate for FY2025
“consistent with historical levels”
Exhibit 99.1 · the passage around this item
… earlier in the release
-99.1 PRESS RELEASE
Document Exhibit 99.1 LIVE NATION ENTERTAINMENT REPORTS FIRST QUARTER 2025 RESULTS “2025 is shaping up to be a historic year for live music, with a strong start having us on track to deliver double-digit growth in operating income and AOI this year. As more artists tour the world, fan demand is reaching new heights across ticket sales, show attendance, and on-site spending. Ticket sales are pacing well ahead of last year, with deferred revenue for both concerts and ticketing at record levels. To support even more fans seeing their favorite artists, we’re continuing to expand our global venue network, adding 20 major venues through 2026. As the global experience economy grows, the live music industry is leading the way, and we’re positioned to compound growth by double-digits over many years.” –Michael Rapino, President and CEO RECORD-LEVEL OF DEFERRED REVENUE REFLECTS ROBUST GLOBAL CONSUMER DEMAND • Q1 delivered strong results driven by growing artist supply and fan demand ◦ Operating income of $115 million ◦ Adjusted operating income of $341 million and $361 million at constant currency • Q1 deferred revenue at record levels for both Concerts and Ticketmaster ◦ Concerts event-related deferred revenue of $5.4 billion, up 24% compared to last year ◦ Ticketmaster deferred revenue of $270 million, up 13% compared to last year LIVE MUSIC MOMENTUM BUILDING INTO 2025 RECORD SUMMER CONCERTS SEA
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.