We believe that we are the largest live entertainment company in the world, connecting over 765 million fans across all of our concerts and ticketing platforms in 49 countries during 2023.
−Removed: 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: 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.
+Added: 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 145 million fans to more than 6,800 artists at over 50,000 events in 2023.
+Added: Live Nation owns, operates, has exclusive booking rights for or has an equity interest for which we have a significant influence in 373 venues globally, including House of Blues ® music venues and prestigious locations such as The Fillmore ® in San Francisco, Brooklyn Bowl ® in New York City , the Hollywood Palladium in Los Angeles, the Moody Center © arena in Austin, the Ziggo Dome in Amsterdam, 3Arena in Dublin, Royal Arena in Copenhagen and Spark Arena in Auckland.
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, 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.
−Removed: 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.
+Added: Ticketmaster provides ticket sales, ticket resale services and marketing and distribution globally through www.ticketmaster.com and www.livenation.com and our mobile apps, other websites and numerous retail outlets, distributing over 620 million tickets through our systems in 2023.
Ticketmaster serves approximately 10,000 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.
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Our strategy is to grow and innovate through the initiatives listed below.
−Removed: • Invest in Product Improvements.
−Removed: 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.
−Removed: 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.
−Removed: 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 .
We will deliver more shows, grow our fan base and increase our ticket sales by continuing to build our portfolio of concerts globally, expanding our business into additional top global music markets, and further building our presence in existing markets.
−Removed: Through our strong partnership with artists, agents and managers, we believe we can continue to expand our concert base by delivering strong and consistent services.
−Removed: In December 2021 we acquired OCESA, one of the most prominent live event businesses globally with a robust business portfolio in ticketing, sponsorship, food and beverage, merchandise, and venue operations across Mexico and Latin America.
+Added: Through our strong partnership with artists, agents and managers and a focus on supporting the development of emerging artists, we believe we can continue to expand our concert base.
• Grow our Revenue per Show.
We will grow our revenue per show across our venues through more effective ticket pricing, broader ticketing distribution and more targeted promotional marketing.
−Removed: 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.
+Added: We will also grow our onsite fan monetization by improving ease of purchase, through improved onsite food and beverage and other products, merchandising, and enhanced experiences for our fans.
+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 in tools that reduce fraud and help artists and teams determine how to get their tickets into the hands of real fans.
• Sell More Tickets .
−Removed: We are focused on selling tickets through a wide set of sales channels, including mobile and online, and leveraging our fan database.
−Removed: We will continue to enhance our application programming interface features to reach a broader audience and expand our digital ticketing rollout, strengthening control over distribution for our clients and creating new and unique marketing opportunities.
+Added: We are focused on selling tickets through a wide set of sales channels, including mobile and online, partnering with affiliates, and leveraging our fan database.
+Added: We will continue to enhance our application programming interface features to reach a broader audience and expand our digital ticketing rollout, strengthening client and artist control over distribution and creating new and unique marketing opportunities.
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.
• Grow Sponsorship and Advertising Partnerships .
−Removed: We will continue to drive growth in our sponsorship relationships and capture a larger share of the global music sponsorship market by further monetizing our fan base and portfolio of brands.
−Removed: We will focus on expanding existing partnerships and developing new corporate sponsor partners to provide them with targeted strategic programs, accessing the fans attending our shows each year.
+Added: We will continue to drive growth in our sponsorship relationships and capture a larger share of the global music sponsorship market by further monetizing our fan base and growing our portfolio of brands.
+Added: We will focus on expanding existing partnerships and developing new corporate sponsor partners to provide them with targeted strategic programs, accessing the fans attending our shows.
We will continue to develop and to scale new products in order to drive onsite and digital revenue.
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During 2023, we connected over 765 million fans to their favorite live event.
−Removed: 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.
+Added: Our database of fans and their interests provides us with the means to efficiently communicate to them about 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: In 2022, we promoted shows or tours for over 7,800 artists globally.
+Added: In 2023, we promoted shows for over 6,800 artists globally.
In addition, through our artist management companies, we managed more than 380 artists in 2023.
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• Distribution Network .
−Removed: We believe that our global distribution network of promoters, venues and festivals provides us with a strong position in the live concert industry.
+Added: We believe that our global network of promoters, venues and festivals provides us with a strong position in the live concert industry.
We believe we have one of the largest global networks of live entertainment businesses in the world, with offices in 45 countries worldwide.
−Removed: 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: In addition, we own, lease, operate, have exclusive booking rights for, or have an equity interest for which we have a significant influence in 373 venues and have operations located across 49 countries as of the end of 2023, making us, we believe, the second largest operator of music venues in the world.
We also believe that we are one of the largest music festival producers in the world with 146 festivals globally in 2023.
−Removed: 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.
+Added: In addition, we believe that our global ticketing distribution network—with approximately 10,000 clients worldwide in 2023 — 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 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.
+Added: We employ a sales force of approximately 700 people that worked with more than 1,200 sponsors during 2023, 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 live music industry includes concert promotion and/or production of music events or tours.
−Removed: Typically, to initiate live music events or tours, booking agents contract with artists to represent them for defined periods.
−Removed: Booking agents then work with promoters, who will contract with them or with artists directly, to arrange events.
+Added: Typically, to initiate live music events or tours, booking agents work with artists.
+Added: Booking agents then work with promoters, who will contract with them or with artists directly, to promote events.
Promoters earn revenue primarily from the sale of tickets.
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Promoters market events, sell tickets, rent or otherwise provide venues and arrange for local production services, such as stages and equipment.
−Removed: Venue operators typically contract with promoters to have their venues rented for specific events on specific dates and receive fixed fees or percentages of ticket sales as rental income.
+Added: Venue operators typically contract with promoters to have their venues rented for specific events on specific dates and receive fixed fees and/or percentages of ticket sales as rental income.
In addition, venue operators provide services such as concessions, parking, security, ushering and ticket scanning at the gate, and receive some or all of the revenue from concessions, merchandise, parking and premium seating.
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The ticketing company will generally not earn a fee on these box office tickets.
−Removed: Ticketing resale services generally refers to the sale of tickets by a holder who originally obtained the tickets from a venue or other entity, or a ticketing services provider selling on behalf of a venue or other entity.
+Added: Venues set the ticketing service fee to be charged on tickets and typically retain the majority of these fees.
+Added: Ticketing resale services generally refers to the sale of tickets by a holder who originally obtained the tickets from a venue or other entity.
Resale tickets are also referred to as secondary tickets.
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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.
−Removed: These sponsorships typically include venue naming rights, onsite venue signage, online advertisements and exclusive partner rights in various categories such as credit card, beverage, travel and telecommunications, and may include event pre-sales and onsite product activation.
+Added: These sponsorships typically include venue naming rights, onsite venue signage, online and in-app advertisements and exclusive partner rights in various categories such as credit card, beverage, travel and telecommunications, and may include event pre-sales and onsite product activation.
Our reportable segments are Concerts, Ticketing and Sponsorship & Advertising.
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While our Concerts segment traditionally operates year-round, we experience higher revenue during the second and third quarters due to the seasonal nature of shows at our outdoor amphitheaters and festivals, which primarily occur from May through October.
+Added: We expect our seasonality trends to evolve as we continue to expand our global operations.
As a promoter, we earn revenue primarily from the sale of tickets and pay artists under one of several formulas, including a fixed guaranteed amount and/or a percentage of ticket sales or event profits.
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As a result, significant increases or decreases in promotion revenue do not typically result in comparable changes to operating income.
−Removed: As a venue operator, we generate revenue primarily from the sale of concessions, parking, premium seating, rental income and ticket rebates or service charges earned on tickets sold through our internal ticketing operations or by third parties under ticketing agreements.
+Added: As a venue operator, we generate revenue primarily from the sale of concessions, parking, premium seating, rental income and ticket rebates or service charges earned on tickets sold under ticketing agreements.
In our amphitheaters, the sale of concessions is outsourced and we receive a share of the net revenue from the concessionaire, which is recorded in revenue with limited associated direct operating expenses.
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We sell tickets through mobile apps, websites and ticket outlets.
−Removed: During 2022, we sold 56%, 42% and 2% of primary tickets through these channels, respectively.
Our Ticketing segment also manages our online activities including enhancements to our websites and product offerings.
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Through all of our ticketing services, we sold approximately 329 million tickets in 2023 on which we were paid fees for our services.
−Removed: 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.
+Added: In addition, approximately 291 million tickets were sold, for which we did not receive a fee, using our Ticketmaster systems, including season seat packages, our venue clients’ box offices, and other channels.
Our ticketing sales are impacted by fluctuations in the availability of events for sale to the public, which may vary depending upon event scheduling by our clients.
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We generally enter into written agreements with individual clients to provide primary ticketing services for specified multi-year periods, typically ranging from three to five years.
−Removed: Pursuant to these agreements, clients generally determine and then tell us what tickets will be available for sale, when such tickets will go on sale to the public and what the ticket price will be, sometimes with our guidance and recommendations.
+Added: Pursuant to these agreements, clients and their content partners generally determine and then tell us what tickets will be available for sale, when such tickets will go on sale to the public and what the ticket price will be, sometimes with our analytical support.
Agreements with venue clients in North America and Australia generally grant us exclusive rights to sell tickets for all events presented at the relevant venue for which tickets are made available to the general public.
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These custom events can involve live music events with talent and media, using both online and traditional outlets.
−Removed: Including intersegment revenue, our Sponsorship & Advertising business generated $968.1 million, or 5.8%, of our total revenue during 2022.
+Added: Including intersegment revenue, our Sponsorship & Advertising business generated $1.1 billion, or 5%, of our total revenue during 2023.
We typically experience higher revenue in the second and third quarters as a large portion of sponsorships are usually associated with our outdoor venues and festivals, which are primarily used in or occur from May through October.
+Added: We expect our seasonality trends to evolve as we continue to expand our global operations.
We believe that we have a unique opportunity to connect the music fan to corporate sponsors and therefore seek to optimize this relationship through strategic sponsorship programs.
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While festival sites only host a few events each year, they can provide higher operating income because we are able to generate income from many different services provided at the event.
−Removed: • Other Venues —Other venues includes restaurants, exhibition and convention halls that typically are not used for live music events.
+Added: • Other Venues —Other venues includes restaurants and exhibition and convention halls that typically are not used for live music events.
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, 2023:
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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.
−Removed: We experience competition from other national, regional and local primary ticketing service providers to secure new venues and to reach fans for events.
+Added: We experience competition from other national, regional and local primary ticketing service providers to secure new venue clients and to reach fans for events.
Resale, or secondary, ticketing services have created more aggressive buying of primary tickets whereby certain brokers are using automated internet “bot” technology to attempt to buy the best tickets when they go on sale, notwithstanding federal and state prohibitions.
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secondary ticketing companies such as StubHub, Vivid Seats, Viagogo and SeatGeek;
−Removed: and many others, including large technology and ecommerce companies that we understand have recently entered or could enter these markets.
+Added: and many others, including large technology and ecommerce companies that could enter these markets.
Our main competitors at the local market level for sponsorships and advertising dollars include local sports teams, which often offer state-of-the-art venues, strong brand association and attractive local media packages, as well as festivals, theme parks and other local events.
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• Taking Care of Yourself :
−Removed: To enhance overall happiness and wellness, we offer flexible vacation time, free ticket perks and in-house meditation sessions, crisis support and crowdfunding networks, and more.
+Added: To enhance overall happiness and wellness, we offer flexible vacation time, free ticket perks and in-house and on-demand virtual meditation sessions, crisis support and crowdfunding networks, and more.
+Added: In 2023, we launched Sober Nation providing sobriety and recovery support for our employees and community events that help destigmatize addiction and recovery in the industry.
• Taking Care of Your Health :
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• Taking Care of Your Mental Health :
−Removed: 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.
+Added: In 2023, we enhanced our mental well-being offerings for staff – increasing the amount of free virtual mental health coaching or therapy sessions, plus group support sessions, 24/7 counselor support line, and both in-person and virtual meditation and yoga sessions.
• Taking Care of Your Family :
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During life’s most difficult moments, we offer employees financial support to help them through a variety of crises, including unexpected deaths, natural disasters, and escaping domestic violence.
−Removed: To this end, in March 2020, in partnership with House of Blues Music Forward Foundation, we announced Crew Nation, a global relief fund offering financial support to live music crews to which we have donated over $10 million.
+Added: To this end, in partnership with Music Forward Foundation, we announced Crew Nation, a global relief fund which has provided financial support to over 16,000 live music crews in over 50 countries to which we have donated $15 million since March 2020.
• Taking Care of Others :
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Diversity, Inclusion and Belonging
−Removed: We are continually striving towards our goal of being as diverse as the fans and artists that we serve, with an aim to uplift people across race, ethnicity, gender, sexual orientation, disability, and other underrepresented groups.
+Added: We are continually striving towards our goal of being as diverse as the fans and artists that we serve, ensuring that we have the breadth of insights and perspectives to effectively serve artists, fans and other clients of all types.
Programs key to this mission include:
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• Diversity Goals :
−Removed: 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 and in increasing overall representation across the business.
+Added: We remain committed to making continuous progress toward our ambitious representation goals – to strengthen the company’s diversity from the top down.
+Added: Our efforts thus far have resulted in increasing overall representation at all levels of the business.
• Live Nation Women Fund :
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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.
−Removed: 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).
−Removed: 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.
+Added: We have also partnered with the Black Music Action Coalition (BMAC) to create a music business intensive course and paid internship program to train the next generation of diverse industry newcomers with the technical skills required to succeed in careers in the live industry.
+Added: Our efforts around diversity, equity, and inclusion have also gained us recognition on Forbes’ Best Employers for Diversity list (2019, 2021-23), Forbes’ World’s Top Companies for Women (2023), Forbes’ America’s Best Employers for Women (2022-23), Forbes’ Best Employers for New Grads (2022-23), and Newsweek’s Americas Greatest Workplaces for Diversity List (2023-24), National List (2023), and Women List (2024).
+Added: We have also earned a Best Places to Work for LGBTQ+ Equality designation by receiving high scores on the Human Rights Campaign Foundation’s Corporate Equality Index (2019-23).
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, 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).
+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, 2022-23), placing on Forbes’ World’s Best Employers List (2023) and America’s Best Large Employers List (2022-24), placing on TIME’s World’s Best Companies (2023) and 100 Most Influential Companies (2023), and placing on Fortune’s World’s Most Admired Companies List (2018-21, 2024) and 500 List (2010-2020, 2023).
As of December 31, 2023, we had approximately 14,700 full-time employees.
−Removed: During regular operational times, our staffing needs vary significantly throughout the year.
−Removed: Therefore, we also employ seasonal and part-time employees, primarily for our live music venues and festivals.
+Added: Our staffing needs vary significantly throughout the year and we also employ seasonal and part-time employees, primarily for our live music venues and festivals.
At the end of 2023, we employed approximately 17,000 seasonal and part-time employees and during peak seasonal periods, particularly in the summer months, we employed as many as 31,500 seasonal and part-time employees in 2023.
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A work stoppage at one or more of our owned or operated venues or at our promoted events could have a material adverse effect on our business, results of operations and financial condition.
−Removed: We cannot predict the effect that a potential work stoppage will have on our results of operations.
+Added: We cannot predict the effect that a potential work stoppage will have on our business operations.
Information About Our Executive Officers
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Michael Rapino 58 President, Chief Executive Officer and Director
−Removed: Jacqueline Beato 39 Chief Operating Officer–U.S.
+Added: Carlos Alvarez 49 Chief Technology Officer–Ticketmaster
Joe Berchtold 59 President and Chief Financial Officer
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Russell Wallach 58 President–Sponsorship and Advertising
+Added: Michael Wichser 45 Chief Operating Officer–Ticketmaster
Mark Yovich 49 President–Ticketmaster
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Rapino has worked for us or our predecessors since 1999.
−Removed: Jacqueline Beato is our Chief Operating Officer of our U.S.
−Removed: Concerts division and has served in this capacity since February 2022.
−Removed: Prior to that, Ms.
−Removed: Beato served as Executive Vice President of Operations starting in August 2020 and Senior Vice President of Investor Relations since joining us in July 2019.
−Removed: Beato was Senior Vice President of Finance and Treasurer of Caesars Entertainment prior to joining Live Nation.
+Added: Carlos Alvarez is our Chief Technology Officer of Ticketmaster and has served in this capacity since September 2020.
+Added: Prior to that, Mr.
+Added: Alvarez served in various information technology roles since joining us in August 2014.
Joe Berchtold is our President and Chief Financial Officer.
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Wallach has worked for us or our predecessors since 1996.
+Added: Michael Wichser is our Chief Operating Officer of Ticketmaster and has served in this capacity since January 2021.
+Added: Prior to that, Mr.
+Added: Wichser served in various mergers and acquisitions and strategy and development roles since joining us in September 2014.
Mark Yovich is President of Ticketmaster and has served in this capacity since December 2020.
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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.