−Removed: The unprecedented and rapid spread of COVID-19 and the related government restrictions and social distancing measures implemented throughout the world significantly impacted our business through the first half of this year.
−Removed: Late in the second quarter, however, we began to see the positive impacts of successful vaccination rollouts in many of our key markets, mainly the United States and United Kingdom, with social distancing restrictions easing and live events resuming.
−Removed: In the third quarter, we saw a meaningful restart of our operations with outdoor amphitheater events and festivals taking place in both the United States and United Kingdom.
−Removed: The discussion below is based on operational metrics for 2021.
−Removed: Refer to Item 7—Management’s Discussion and Analysis of Financial Condition and Results of Operations—Key Operating Metrics for 2019 operational metrics which are more representative of the size of our business.
−Removed: We believe that we are the largest live entertainment company in the world, connecting over 310 million fans across all of our concerts and ticketing platforms in 45 countries in 2021 and over 580 million fans in 2019 prior to the global COVID-19 pandemic.
+Added: We believe that we are the largest live entertainment company in the world, connecting over 670 million fans across all of our concerts and ticketing platforms in 48 countries during 2022.
We believe we are the largest producer of live music concerts in the world, based on total fans that attend Live Nation events as compared to events of other promoters, connecting over 121 million fans to more than 43,600 events for over 7,800 artists in 2022.
−Removed: We connected nearly 98 million fans to more than 40,000 events for over 5,000 artists in 2019 prior to the global COVID-19 pandemic.
−Removed: Live Nation owns, operates, has exclusive booking rights for or has an equity interest in 320 venues, including House of Blues ® music venues and prestigious locations such as The Fillmore ® in San Francisco, Brooklyn Bowl ® , the Hollywood Palladium, the Ziggo Dome in Amsterdam, 3Arena in Ireland, Royal Arena in Copenhagen and Spark Arena in New Zealand.
+Added: Live Nation owns, operates, has exclusive booking rights for or has an equity interest for which we have a significant influence in 338 venues globally, including House of Blues ® music venues and prestigious locations such as The Fillmore ® in San Francisco, Brooklyn Bowl ® , the Hollywood Palladium, the Ziggo Dome in Amsterdam, 3Arena in Ireland, Royal Arena in Copenhagen and Spark Arena in New Zealand.
We believe we are one of the world’s leading artist management companies based on the number of artists represented.
Our artist management companies manage music artists and acts across all music genres.
−Removed: As of December 31, 2021, we had 100 managers providing services to more than 450 artists.
+Added: As of December 31, 2022, globally we had over 90 managers providing services to more than 410 artists.
We believe we are the world’s leading live entertainment ticketing sales and marketing company, based on the number of tickets we sell.
Ticketmaster provides ticket sales, ticket resale services and marketing and distribution globally through www.ticketmaster.com and www.livenation.com and our other websites, mobile apps, numerous retail outlets and call centers, selling over 550 million tickets through our systems in 2022.
−Removed: Ticketmaster serves nearly 7,100 clients worldwide across multiple event categories, providing ticketing services for leading arenas, stadiums, festival and concert promoters, professional sports franchises and leagues, college sports teams, performing arts venues, museums and theaters.
−Removed: Prior to the global COVID-19 pandemic, we sold over 485 million tickets through our systems and served nearly 11,500 clients worldwide in 2019.
−Removed: We believe our global footprint is one of the world’s largest music advertising network for corporate brands and includes one of the world’s leading ecommerce websites, based on a comparison of gross sales of top internet retailers prior to the global COVID-19 pandemic.
+Added: Ticketmaster serves approximately 9,300 clients worldwide across multiple event categories, providing ticketing services for leading arenas, stadiums, festival and concert promoters, professional sports franchises and leagues, college sports teams, performing arts venues, museums and theaters.
+Added: We believe our global footprint is one of the world’s largest music advertising networks for corporate brands and includes one of the world’s leading ecommerce websites based on a comparison of gross sales of top internet retailers.
Our principal executive offices are located at 9348 Civic Center Drive, Beverly Hills, California 90210 (telephone:
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Our strategy is to grow and innovate through the initiatives listed below.
+Added: • Invest in Product Improvements.
+Added: We will continue to invest in our ticketing platforms and develop innovative products to grow our sales channels, drive increased ticket sales, grow non-service fee revenue streams, and continue to build our client base.
+Added: These include technological and digital transformations to improve the experience and transparency for fans, venues, and event organizers as well as the overall quality of service.
+Added: In addition, we will continue to invest to eliminate fraud such as our focus on anti-BOT technology and the creation of our Verified Fan service.
• Expand our Concert Platform .
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We will also grow our onsite fan monetization by improving ease of purchase including contactless payment and rollout of digital technology, through improved onsite products, merchandising, and enhanced experiences for our fans.
−Removed: • Sell More Tickets and Invest in Product Improvements .
+Added: • Sell More Tickets .
We are focused on selling tickets through a wide set of sales channels, including mobile and online, and leveraging our fan database.
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We will grow the volume of secondary tickets sold through a trusted environment for fan ticket exchanges, allowing our fans to have a dependable, secure destination for secondary ticket acquisition for all events.
−Removed: We will continue to invest in our ticketing platforms and develop innovative products to build fan traffic to our sales channels, drive increased ticket sales, and continue to build our client base.
• Grow Sponsorship and Advertising Partnerships .
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We believe we have unique resources that are unmatched in the live entertainment industry.
−Removed: We connected over 310 million fans to their favorite live event in 2021 and over 580 million fans in 2019 prior to the global COVID-19 pandemic.
−Removed: Our database of fans and their interests provides us with the means to efficiently market our shows to them.
+Added: During 2022, we connected over 670 million fans to their favorite live event.
+Added: Our database of fans and their interests provides us with the means to efficiently communicate to them on shows they are likely to be interested in.
We have extensive relationships with artists ranging from those just beginning their careers to established superstars.
−Removed: We promoted shows or tours for over 4,400 artists globally in 2021 and over 5,000 artists in 2019 prior to the global COVID-19 pandemic.
−Removed: In addition, through our artist management companies, we managed more than 450 artists in 2021 and more than 500 artists in 2019.
+Added: In 2022, we promoted shows or tours for over 7,800 artists globally.
+Added: In addition, through our artist management companies, we managed more than 410 artists in 2022.
• Digital Platforms and Ticketing .
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We believe we have one of the largest global networks of live entertainment businesses in the world, with offices in 44 countries worldwide.
−Removed: In addition, we own, operate, have exclusive booking rights for, or have an equity interest in, 320 venues located across 45 countries as of the end of 2021, making us, we believe, the second largest operator of music venues in the world.
−Removed: We also believe that we are one of the largest music festival producers in the world with 56 festivals globally in 2021 and 111 festivals globally in 2019 prior to the global COVID-19 pandemic.
−Removed: In addition, we believe that our global ticketing distribution network—which includes one of the largest ecommerce sites and related apps along with nearly 7,100 clients worldwide in 2021 and nearly 11,500 clients in 2019 — makes us the largest ticketing network in the world.
+Added: In addition, we own, lease, operate, have exclusive booking rights for, or have an equity interest in 338 venues and have operations located across 48 countries as of the end of 2022, making us, we believe, the second largest operator of music venues in the world.
+Added: We also believe that we are one of the largest music festival producers in the world with 147 festivals globally in 2022.
+Added: In addition, we believe that our global ticketing distribution network—which includes one of the largest ecommerce sites and related apps along with approximately 9,300 clients worldwide in 2022 — makes us the largest ticketing network in the world.
We monetize our physical and digital assets through long-term sponsorship agreements and advertising.
−Removed: We employ a sales force of approximately 500 people that works with approximately 560 sponsors and nearly 1,200 in 2019 prior to the global COVID-19 pandemic, through a combination of strategic partnerships, local venue-related deals, national agreements and digital campaigns, both in North America and internationally.
+Added: We employ a sales force of approximately 600 people that worked with approximately 1,200 sponsors during 2022, through a combination of strategic partnerships, local venue-related deals, national agreements and digital campaigns, both in North America and internationally.
Our sponsors include some of the most well-recognized national and global brands across diverse sectors including consumer, financials and leisure including Citibank, O 2 , American Express, Cisco, Hilton, Red Bull and Anheuser Busch (each of these brands is a registered trademark of the sponsor).
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The artist manager negotiates on behalf of the artist and is paid a fee, generally as a percentage of the artist’s earnings.
+Added: Our strategy is to provide minimum revenue guarantees to artists, which generates the vast majority of their total income.
+Added: We believe the artist-fan connection is the source of nearly all commercial value and as a result, our artists receive the majority of all ticketing revenue.
For music tours, four to eight months typically elapse between initially booking artists and the first performances.
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Resale tickets are also referred to as secondary tickets.
−Removed: Generally, the ticket resale company is paid a service charge when the ticket is resold and the negotiated ticket value is paid to the holder.
+Added: Generally, the ticket resale company is paid a service charge when the ticket is resold and the ticket value is paid to the holder.
The sponsorship and advertising industry within the live entertainment business involves the sale of international, national, regional and local advertising and promotional programs to a variety of companies to advertise or promote their brand, product or service.
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We sell tickets for our events and also for third-party clients across multiple live event categories, providing ticketing services for leading arenas, stadiums, amphitheaters, music clubs, concert promoters, professional sports franchises and leagues, college sports teams, performing arts venues, museums and theaters.
−Removed: We sell tickets through websites, mobile apps and ticket outlets.
+Added: We sell tickets through mobile apps, websites and ticket outlets.
During 2022, we sold 56%, 42% and 2% of primary tickets through these channels, respectively.
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Including intersegment revenue, our Ticketing business generated $2.2 billion, or 13.4%, of our total revenue during 2022, which excludes the face value of tickets sold and is net of the fees paid to our ticketing clients.
−Removed: Through all of our ticketing services, we sold 132 million tickets in 2021 on which we were paid fees for our services.
+Added: Through all of our ticketing services, we sold approximately 281 million tickets in 2022 on which we were paid fees for our services.
In addition, approximately 270 million tickets were sold using our Ticketmaster systems, including through season seat packages, our venue clients’ box offices, and other channels through which we did not receive a fee.
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• Other Venues —Other venues includes restaurants, exhibition and convention halls that typically are not used for live music events.
−Removed: The following table summarizes the number of venues by type that we owned, leased, operated, had exclusive booking rights for or had an equity interest in as of December 31, 2021:
+Added: The following table summarizes the number of venues by type that we owned, leased, operated, had exclusive booking rights for or had an equity interest over which we had a significant influence as of December 31, 2022:
Venue Type Capacity Owned Leased Operated Exclusive
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The ticketing services industry includes the sale of tickets primarily through online and mobile channels, but also through telephone and ticket outlets.
−Removed: As online and mobile ticket purchases increase, it has made it easier for technology-based companies to offer primary ticketing services and standalone, automated ticketing systems that enable venues to perform their own ticketing services or utilize self-ticketing systems.
+Added: The transition to online and mobile ticket purchases has made it easier for technology-based companies to offer primary ticketing services and standalone, automated ticketing systems that enable venues to perform their own ticketing services or utilize self-ticketing systems.
In the online environment, we compete with other websites, online event sites and ticketing companies to provide event information, sell tickets and provide other online services such as fan clubs and artist websites.
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We also ensure that our employees have direct access to senior executives to raise concerns and share ideas.
−Removed: Our programs are structured under seven core pillars, designed to support key life moments:
+Added: Our programs are structured under eight core pillars, designed to support key life moments:
• Taking Care of Yourself :
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• Taking Care of Your Health :
−Removed: Beyond a full suite of medical, dental and vision benefits, we provide access to virtual doctor’s appointments and mental health services.
+Added: Beyond a full suite of medical, dental and vision benefits, we provide access to virtual doctor’s appointments.
+Added: • Taking Care of Your Mental Health :
+Added: In 2022, we doubled down on our mental well-being offerings for staff – free virtual mental health coaching or therapy sessions, group support sessions, 24/7 counselor support line, and both in-person or virtual meditation and yoga sessions.
• Taking Care of Your Family :
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• Taking Care of Your Wealth :
−Removed: To support long-term financial goals, we have traditionally provided 401(k) or pension matching, a stock reimbursement program, and student loan repayment assistance.
+Added: To support long-term financial goals, we traditionally provide 401(k) or pension matching, a stock reimbursement program, and student loan repayment assistance.
• Taking Care of Our Own :
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In order to empower our employees to get involved in causes that are meaningful to them, we provide paid time off for them to volunteer in their local communities.
−Removed: While some of these programs have temporarily been impacted by the pandemic, our strong commitment of taking care of every employee makes Live Nation a better place, which in turn helps drive our operating successes.
Diversity, Inclusion and Belonging
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Programs key to this mission include:
−Removed: • Live Nation Women Fund :
−Removed: An early-stage investment fund we have created focused on female-led live music businesses.
• Promotion and Pay :
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We remain committed to reaching the ambitious goals we set to strengthen the company’s diversity from the top down.
−Removed: Our efforts thus far have resulted in both hiring and promoting diverse talent into a number of key leadership roles.
+Added: Our efforts thus far have resulted in both hiring and promoting diverse talent into a number of key leadership roles and in increasing overall representation across the business.
+Added: • Live Nation Women Fund :
+Added: An early-stage investment fund we have created focused on female-led live music businesses.
• Industry Engagement :
In 2022, we further demonstrated our commitment to diversity and inclusion by joining the efforts of “Diversify The Stage” and signing their pledge to provide greater access to equitable opportunities for underrepresented groups in live music, events, and touring industries.
+Added: Our efforts around diversity, equity, and inclusion have also gained us recognition on Forbes’ Best Employers for Diversity list (2019, 2021-22), Forbes’ America’s Best Employers for Women (2022), Forbes’ Best Employers for New Grads (2022), and Newsweek’s Americas Greatest Workplaces for Diversity List (2023).
+Added: We have also received a score of 100% on Human Rights Campaign Foundation’s Corporate Equality Index (2019-22), earning us a Best Places to Work for LGBTQ+ Equality designation.
Human Capital
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We further strive to reward individual achievements and contributions that are both aligned with and supportive of our short- and long-term goals and core business values.
−Removed: We believe that our efforts in these areas are working and contributing to the overall success of the Company, as evidenced by accolades such as obtaining a Great Place to Work® certification (2017-19), placing fourth on Indeed's list of the World's 50 Best Workplaces (2019), placing third on Fast Company’s Most Innovative Companies list for the music sector (2019), and our inclusion on Forbes’ Best Employers For Diversity list (2019).
+Added: We believe that our efforts in these areas are working and contributing to the overall success of the Company, as evidenced by accolades such as obtaining a Great Place to Work® certification (2017-19, 2022), placing fourth on Indeed's list of the World's 50 Best Workplaces (2019), placing on Forbes’ America’s Best Large Employers List (2022), placing third on Fast Company’s Most Innovative Companies list for the music sector (2019), and placing on Fortune’s World’s Most Admired Companies List (2021).
As of December 31, 2022, we had approximately 12,800 full-time employees.
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Joe Berchtold 58 President and Chief Financial Officer
−Removed: Brian Capo 55 Chief Accounting Officer
+Added: Brian Capo 56 Senior Vice President–Chief Accounting Officer
Liz Dyer 37 Senior Vice President–Human Resources
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Arthur Fogel 69 Chairman–Global Music and President–Global Touring
+Added: Kaitlyn Henrich 32 Senior Vice President–Corporate Communications and Social Impact
John Hopmans 64 Executive Vice President–Mergers and Acquisitions and Strategic Finance
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Michael Rowles 57 General Counsel and Secretary
−Removed: Sherri Pucci Sosa 51 President–Venue Nation United States
Russell Wallach 57 President–Sponsorship and Advertising
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Berchtold served as our Chief Operating Officer since joining us in April 2011.
−Removed: Brian Capo is our Chief Accounting Officer and has served in this capacity since joining us in December 2007.
+Added: Brian Capo is our Senior Vice President and Chief Accounting Officer and has served in this capacity since joining us in December 2007.
Liz Dyer is our Senior Vice President of Human Resources and has served in this capacity since September 2020.
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Fogel has worked for us or our predecessors since 1999.
+Added: Kaitlyn Henrich is our Senior Vice President of Corporate Communications and Social Impact and has served in this capacity since January 2022.
+Added: Prior to that, Ms.
+Added: Henrich served in various corporate communications roles since joining us in January 2016.
John Hopmans is our Executive Vice President of Mergers and Acquisitions and Strategic Finance and has served in this capacity since joining us in April 2008.
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Michael Rowles is our General Counsel and has served in this capacity since joining us in March 2006 and as our Secretary since May 2007.
−Removed: Sherri Pucci Sosa is our President of Venue Nation United States and has served in this capacity since joining us in April 2021.
−Removed: Prior to that Ms.
−Removed: Sosa was the Senior Vice President and General Manager of various casino and hotel properties of Caesars Entertainment from 2015 to March 2021.
Russell Wallach is President of our Sponsorship and Advertising division and has served in this capacity since July 2006.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.