NYSE$LYV
Live Nation Entertainment Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Live Nation's strongest second quarter ever, driven by global demand and diverse artist pipeline, setting the stage for a record year and continued growth.
Live Nation Entertainment reported a record second quarter in 2023, with revenue up 27% to $5.6 billion and operating income up 21% to $386 million. The company is on pace for a record year, driven by global demand for live music and a diverse artist pipeline. Early indicators for 2024 provide confidence in continued growth.
- Revenue increased by 27% to $5.6 billion compared to Q2 2022.
- Operating income rose by 21% to $386 million compared to Q2 2022.
- The company sold over 117 million tickets year-to-date, a 20% increase year-over-year.
- Event-related deferred revenue is up 37% compared to Q2 2022, reaching $4.3 billion.
Headline financials
Revenue & EPS history
Live Nation · Revenue · Quarterly
$5.63B
Revenue by segment
Live Nation · $5.65B total across 3 segments · Q2 2023
- Concerts$4.63B+28.8%82.1%
- Ticketing$709M+23.3%12.6%
- Sponsorship & Advertising$303M+14.8%5.4%
Forward guidance
Live Nation anticipates a record 2023 with continued growth into 2024, driven by strong ticket sales and a growing global artist pipeline.
Tailwinds
- Record number of fans expected in 2023, with over 117 million tickets sold year-to-date.
- Record Ticketmaster sales expected, with 151 million fee-bearing tickets sold year-to-date.
- Sponsorship pacing to double-digit operating income and AOI growth.
- $4.3 billion in event-related deferred revenue, setting up double-digit attendance growth in Q3.
- Early 2024 pipeline is up for arena/amphitheater/stadium shows confirmed and with offers in.
Headwinds
- Operational challenges in achieving strategic objectives and executing on the company's plans.
- Risk that the company's markets do not evolve as anticipated.
- Potential impact of any economic slowdown.
- Operational challenges associated with selling tickets and staging events.
- Foreign exchange not expected to materially impact 2023 revenue, operating income or AOI.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+1.5%
Avg return
Earnings day
+1.4%
Avg return
5 days after
+3.1%
Avg return
30 days after
63%
41 / 65 earnings
Positive
+17.6%
Q3 2021
Best reaction
-10.7%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.4% | +2.4% | +1.8% | |
| Q4 2025 | +1.6% | -1.4% | -5.5% | |
| Q3 2025 | -10.7% | -4.9% | -7.6% | |
| Q2 2025 | +3.3% | +7.1% | +10.2% | |
| Q1 2025 | +1.8% | +2.1% | +4.5% | |
| Q4 2024 | -1.9% | -6.7% | -19.2% | |
| Q3 2024 | +5.4% | +4.9% | +9.5% | |
| Q2 2024 | +1.0% | +2.1% | +4.4% | |
| Q1 2024 | +6.0% | +7.9% | +5.0% | |
| Q4 2023 | +4.5% | +2.6% | +16.2% | |
| Q3 2023 | -0.9% | +3.0% | +12.8% | |
| Q2 2023 | -8.8% | -11.0% | -13.4% | |
| Q1 2023 | +14.7% | +15.4% | +23.1% | |
| Q4 2022 | -8.8% | -4.5% | -12.6% | |
| Q3 2022 | -7.9% | -5.1% | -3.7% | |
| Q2 2022 | -1.3% | -3.0% | -8.6% | |
| Q1 2022 | -6.9% | -11.3% | -4.1% | |
| Q4 2021 | +6.3% | +3.2% | -0.6% | |
| Q3 2021 | +17.6% | +10.8% | -4.1% | |
| Q2 2021 | +0.5% | +7.9% | +9.6% | |
| Q1 2021 | +1.5% | +4.0% | +13.3% | |
| Q4 2020 | -1.8% | +0.1% | -7.1% | |
| Q3 2020 | +2.4% | +19.2% | +27.9% | |
| Q2 2020 | -0.6% | +6.4% | +20.6% | |
| Q1 2020 | +9.0% | -0.9% | +48.0% | |
| Q4 2019 | +0.0% | -5.2% | -22.4% | |
| Q3 2019 | -7.3% | -13.0% | -2.0% | |
| Q2 2019 | +3.8% | +1.7% | -0.2% | |
| Q1 2019 | +1.0% | +0.2% | -4.6% | |
| Q4 2018 | +8.3% | +8.3% | +12.8% | |
| Q3 2018 | +4.9% | +5.9% | +6.5% | |
| Q2 2018 | -3.9% | -6.0% | -5.6% | |
| Q1 2018 | +13.4% | +7.3% | +8.6% | |
| Q4 2017 | -7.8% | -9.7% | -13.3% | |
| Q3 2017 | +3.2% | +7.0% | +5.3% | |
| Q2 2017 | +4.6% | +4.0% | +7.3% | |
| Q1 2017 | +7.5% | +5.8% | +10.1% | |
| Q4 2016 | -6.1% | -7.5% | -3.8% | |
| Q3 2016 | +4.1% | +6.5% | +4.6% | |
| Q2 2016 | +5.4% | +1.4% | +0.8% | |
| Q1 2016 | +2.5% | — | — | |
| Q4 2015 | +4.4% | — | — | |
| Q3 2015 | -0.3% | — | — | |
| Q2 2015 | +1.3% | — | — | |
| Q1 2015 | +5.7% | — | — | |
| Q4 2014 | -2.0% | — | — | |
| Q3 2014 | +5.1% | — | — | |
| Q2 2014 | -9.4% | — | — | |
| Q1 2014 | +7.8% | — | — | |
| Q4 2013 | +8.6% | — | — | |
| Q3 2013 | -8.2% | — | — | |
| Q2 2013 | +10.2% | — | — | |
| Q1 2013 | +7.4% | — | — | |
| Q4 2012 | +0.2% | — | — | |
| Q3 2012 | +1.9% | — | — | |
| Q2 2012 | +3.7% | — | — | |
| Q1 2012 | +10.2% | — | — | |
| Q4 2011 | -6.1% | — | — | |
| Q3 2011 | -5.1% | — | — | |
| Q3 2010 | -5.1% | — | — | |
| Q2 2011 | +3.6% | — | — | |
| Q1 2010 | -0.9% | — | — | |
| Q1 2011 | -0.9% | — | — | |
| Q2 2010 | -0.9% | — | — | |
| Q4 2010 | +1.1% | — | — |
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