Financial Data and Key Metrics Changes - The company anticipates double-digit AOI growth for 2026, driven by strong visibility in sponsorship bookings and robust demand in concerts [6][7][11] - Ticketing is expected to show mid-single-digit growth, with some one-time headwinds affecting secondary ticketing [6][7] - GTV for ticketing grew by approximately 6% in the last year, with a 9% increase in concerts and a 1% decline in sports and other third-party events [32] Business Line Data and Key Metrics Changes - Sponsorship is projected to continue double-digit growth, with over 70% of bookings already secured [6] - Concerts are expected to see solid double-digit growth, with 80% of shows booked and strong demand across various venues [7][8] - The company is experiencing increased show counts in arenas and stadiums, particularly in the U.S. and Europe [8] Market Data and Key Metrics Changes - Demand for live events remains strong globally, with significant interest in both U.S. and international markets [10][11] - The company is focusing on expanding its presence in underdeveloped international markets, particularly in Europe and Latin America [39][40] Company Strategy and Development Direction - The company is committed to growing its Venue Nation division, with a focus on building and acquiring venues to enhance its portfolio [27][37] - There is a strategic emphasis on artist control over ticket sales and pricing, with ongoing initiatives to combat scalping and improve fan access [18][21] - The company is not looking to acquire venue management companies but prefers to own venues outright for better financial control [47] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving double-digit growth despite headwinds, citing strong demand and effective planning [6][11] - The company views the live entertainment industry as a continually growing sector, with increasing consumer demand and artist participation [10][11] - Recent legal rulings have reduced concerns about potential breakup risks related to monopoly claims, positively impacting the company's outlook [14][15] Other Important Information - The company is actively addressing secondary market issues and has implemented measures to limit broker sales on its platform, resulting in a significant reduction in tickets listed by brokers [18] - Management highlighted the importance of affordability in ticket pricing, noting that 75% of tickets sold in the U.S. are priced under $100 [26] Q&A Session Summary Question: Outlook for double-digit AOI growth in 2026 - Management provided insights into the expected contributions from different segments, emphasizing strong visibility in sponsorship and concert demand despite challenges in ticketing [5][6] Question: Impact of recent legal rulings on company structure - Management expressed satisfaction with the dismissal of monopoly claims, which alleviates breakup concerns and strengthens their market position [13][14] Question: Demand indicators and regional performance - Management reported consistent demand across various regions, with no signs of pullback in ticket sales, particularly for budget-conscious fans [26][50] Question: Venue Nation growth trajectory and international focus - Management discussed the ramp-up costs associated with Venue Nation and the potential for accelerated growth as new venues come online [37][39] Question: Differentiators for choosing Ticketmaster - Management highlighted that the primary reason venues choose Ticketmaster is its ability to sell more tickets effectively, supported by strong marketing and distribution capabilities [58][59]

Financial Data and Key Metrics Changes - The company anticipates double-digit AOI growth for 2026, driven by strong visibility in sponsorship bookings and robust demand in concerts [6][7][11] - Ticketmaster's GTV grew by approximately 6% for the year, with a 9% increase in concerts, while sports and other third-party activities saw a 1% decline [33] Business Line Data and Key Metrics Changes - Sponsorship is expected to continue double-digit AOI growth, with over 70% booked [6] - Concerts are projected to achieve solid double-digit growth, with 80% of shows already booked [7][8] - Ticketing is expected to show mid-single-digit growth, with some one-time headwinds affecting secondary ticket sales [6][7] Market Data and Key Metrics Changes - The U.S. market is seeing increased demand, particularly in arenas and stadiums, with a notable shift towards U.S.-driven events compared to previous years [7][8] - International markets, especially in the U.K. and Europe, are experiencing strong growth in stadium business [8] Company Strategy and Development Direction - The company is focused on expanding its Venue Nation division globally, with significant investments in new venues and infrastructure [28][41] - There is a clear strategy to enhance artist control over ticket sales and combat secondary market issues through various initiatives [18][20] Management's Comments on Operating Environment and Future Outlook - Management expresses confidence in the ongoing growth of the live entertainment industry, citing strong consumer demand and a growing supply of artists [10][11] - The recent legal rulings regarding monopoly claims have positively impacted the company's outlook, reducing breakup risks [14][15] Other Important Information - The company is actively working on initiatives to improve ticket sales and reduce scalping, including identity verification and limiting broker accounts [18][19] - Management emphasizes the importance of keeping ticket prices affordable for fans, with 75% of tickets priced under $100 [25][26] Q&A Session Summary Question: Outlook for double-digit AOI growth in 2026 - Management provided insights into the building blocks for growth, highlighting strong sponsorship bookings and concert demand despite some headwinds [4][6] Question: Impact of recent legal rulings on company structure - Management expressed satisfaction with the ruling that dismissed monopoly claims, which alleviates breakup concerns [13][14] Question: Demand indicators by region - Management noted consistent strong demand across various regions, with no pullback in ticket sales for budget-conscious fans [25][26] Question: Venue Nation's growth trajectory - Management discussed the ramp-up costs associated with Venue Nation and the expected acceleration in growth as new venues come online [38][45] Question: Differentiators for choosing Ticketmaster - Management highlighted that the primary reason venues choose Ticketmaster is its ability to sell more tickets effectively [58][60]

Financial Data and Key Metrics Changes - The company reported a 6% growth in Gross Ticket Value (GTV) for the year, driven primarily by a 9% increase in concert ticket sales, while sports and other third-party sales experienced a 1% decline [31] - The company expects to see double-digit AOI growth in 2026, with strong visibility in the sponsorship segment, which is over 70% booked and running double digits ahead [5][4] Business Line Data and Key Metrics Changes - Sponsorship is expected to continue its double-digit growth, while ticketing is projected to have mid-single-digit growth with some one-time headwinds [5] - Concerts are anticipated to show solid double-digit growth, with 80% of shows already booked, indicating robust demand [6][7] Market Data and Key Metrics Changes - The U.S. market is seeing a shift towards more domestic-driven events, with arenas and stadiums both showing double-digit growth [7] - International markets, particularly in the U.K. and Europe, are experiencing strong growth in stadium business, contributing to overall supply-side growth [7][10] Company Strategy and Development Direction - The company is focused on expanding its Venue Nation division, with significant investments in new venues globally, particularly in underdeveloped international markets [39][27] - The company is actively working on initiatives to improve ticket sales and reduce scalping, supporting artists' control over ticket pricing and distribution [17][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving double-digit growth despite headwinds, citing strong demand and effective supply management [4][5] - The company is optimistic about the ongoing global growth in live events, with a focus on expanding into new markets and enhancing the fan experience [9][10] Other Important Information - The company received a favorable ruling regarding its market position, which diminishes concerns about potential breakup due to monopoly claims [12][13] - Ongoing initiatives to combat secondary market issues are showing positive results, with a significant reduction in tickets listed by brokers on the company's platform [16][17] Q&A Session Summary Question: Outlook for double-digit AOI growth in 2026 - Management highlighted strong visibility in sponsorship and concert segments, with confidence in achieving growth despite some headwinds [4][5] Question: Impact of recent legal rulings on company structure - Management expressed satisfaction with the ruling that dismissed monopoly claims, which reduces breakup risks [12][13] Question: Demand indicators and regional performance - Management noted consistent strong demand across various regions, with no pullback in budget-conscious ticket sales [24] Question: Venue Nation investments and international focus - Management confirmed a significant focus on international markets for Venue Nation, with plans for new venue acquisitions [39][46] Question: Differentiators for choosing Ticketmaster - The primary reason venues choose Ticketmaster is its ability to sell more tickets effectively, supported by strong marketing and distribution capabilities [58]

Financial Data and Key Metrics Changes - The company reported a GTV (Gross Transaction Value) growth of approximately 6% for the year, driven primarily by a 9% increase in concert ticket sales, while sports and other third-party sales experienced a 1% decline [33] - The company expects to see double-digit AOI (Adjusted Operating Income) growth in 2026, with strong visibility into the sponsorship pipeline being over 70% booked and running ahead of double digits [6][4] Business Line Data and Key Metrics Changes - Sponsorship is expected to continue its double-digit AOI growth, while ticketing is projected to have mid-single-digit growth with some one-time headwinds affecting secondary sales [6] - Concerts are anticipated to show solid double-digit growth, with 80% of shows already booked, indicating robust demand globally [7][8] Market Data and Key Metrics Changes - The U.S. market is seeing an increase in show counts, particularly in arenas and stadiums, with double-digit growth noted in both segments [8][9] - International markets, especially in the U.K. and Europe, are experiencing strong growth in stadium business, contributing to overall supply-demand dynamics [9][11] Company Strategy and Development Direction - The company is focused on expanding its Venue Nation division, with significant investments in new venues and a strategy to enhance artist control over ticket sales [39][41] - The company is actively addressing secondary market issues and is supportive of legislation that empowers artists, indicating a strategic shift towards artist-centric solutions [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving double-digit growth despite headwinds, citing strong demand across all business segments and effective forward planning [4][6] - The company views the ongoing global growth in live entertainment as a long-term trend, with expectations of continued demand from consumers worldwide [11][12] Other Important Information - Recent legal developments have positively impacted the company's position regarding monopoly claims, reducing risks associated with potential breakup arguments [14][15] - The company has implemented measures to restrict ticket sales by brokers, significantly reducing the number of tickets listed by brokers on its platform [18][19] Q&A Session Summary Question: Outlook for double-digit AOI growth in 2026 - Management highlighted strong visibility in sponsorship and concert segments, with confidence in achieving growth despite some headwinds [4][6] Question: Impact of recent legal rulings on company structure - Management expressed satisfaction with the ruling that dismissed monopoly claims, which they believe mitigates breakup risks [14][15] Question: Demand indicators and regional performance - Management noted consistent demand across regions, with no pullback in ticket sales, particularly for budget-conscious fans [26][27] Question: Venue Nation's growth trajectory and international focus - Management indicated that international markets are a significant focus, with opportunities for growth in underdeveloped regions [41][42] Question: Differentiators for venues choosing Ticketmaster - The primary reason venues choose Ticketmaster is its ability to sell more tickets effectively, supported by strong marketing and distribution capabilities [60]

Ticketmaster parent Live Nation Entertainment on Thursday reported fourth-quarter sales that topped Wall Street's expectations, helped by bigger shows, international expansion and more upsells at conc... ...

Core Viewpoint - U.S. equity markets faced volatility as resilient labor market data contrasted with a cautious outlook from Walmart, leading to concerns over consumer spending and geopolitical tensions impacting risk appetite [1]. Major Market Indexes Performance Recap - Major benchmarks ended in negative territory, with the S&P 500 declining 0.28% to 6,861.89, the Nasdaq Composite slipping 0.31% to 22,682.73, and the Dow Jones Industrial Average falling 267 points, or 0.54%, to close at 49,395.16 [2]. Small-Cap vs. Large-Cap Performance - The small-cap Russell 2000 managed a late-day recovery, finishing up 0.25%, indicating that smaller domestic-focused firms found support despite headwinds faced by larger retail and tech companies [3]. Economic Data Insights - Initial jobless claims fell to 206,000, significantly lower than the projected 223,000, marking the lowest level since early January, complicating the Federal Reserve's interest rate cut path [4]. - The U.S. trade deficit unexpectedly widened to -$70.3 billion in December, exceeding the forecasted -$56 billion, while the Philadelphia Fed Manufacturing Index rose to 16.3 in February from 12.6 the previous month, indicating strength in the industrial sector [5]. Corporate News and Stock Movements - Walmart reported better-than-expected fourth-quarter earnings and revenue but saw its stock fall 1.4% due to a disappointing profit forecast, overshadowing a $30 billion share buyback announcement [6]. - Deere & Company shares surged 11.6% after reporting higher-than-expected quarterly profits and raising full-year net income guidance to $4.5 billion to $5.0 billion [7]. - Etsy's stock increased by 21.2% following a significant earnings beat, while Booking Holdings dropped 7.1% amid competition concerns [8]. - Other notable stock movements included Occidental Petroleum rising 9.4%, Blue Owl Capital falling 5.9%, Robinhood Markets tumbling 11.3%, and Nvidia edging higher due to a partnership with Meta Platforms [8]. Upcoming Market Events - Investors are focused on upcoming corporate reports from Newmont Corp. and Consolidated Edison, as well as monitoring Live Nation Entertainment, Texas Roadhouse, and Sprouts Farmers Market for insights into consumer spending [9]. - Nvidia's earnings report is highly anticipated on February 25th, with geopolitical developments in Iran supporting oil prices, which rose 2.6% to $66.71 per barrel [10].

Group 1 - The live entertainment ticket provider reported a 12% increase in concert sales, reaching $5.15 billion [1] - Ticketing sales experienced a modest growth of 1% [1] - Sponsorship and advertising sales saw a significant increase of 17% [1]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________ Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025, or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-32601 LIVE NATION ENTERTAINMENT, INC. (Exact name of registrant as specified in its charter) Delawar ...

Exhibit 99.1 LIVE NATION ENTERTAINMENT FULL YEAR AND FOURTH QUARTER 2025 RESULTS "In 2025, the bond between artists and their global fan bases reached new heights, fueling another year of double-digit growth. As artists continue to unlock untapped markets and headline the world's most iconic stadiums, we've built momentum that carries us into a record- breaking 2026. We're not just building venues; we're crafting world-class stages designed to elevate the artist's vision and their connection to fans. By str ...

Core Insights - Live Nation Entertainment experienced significant growth in 2025, with a strong bond between artists and fans leading to double-digit growth across various metrics [1] - The company is positioned for continued growth in 2026, with expectations of record-breaking performance driven by increased ticket sales and venue expansions [2] Financial Performance - Revenue for 2025 reached $25.2 billion, up 9% from 2024, with adjusted operating income (AOI) of $2.4 billion, reflecting a 10% increase [1][2] - Operating income surged by 52% to $1.3 billion, while concert AOI rose 30% to $687 million, achieving a record margin of 3.3% [1][2] - Sponsorship AOI grew 11% to $845 million, driven by strong brand activity both online and onsite [1] Ticketing and Attendance - Ticketing fee-bearing gross transaction value (GTV) for concerts increased by 9% to $26 billion, with fan attendance rising 5% to 159 million [1] - Early indicators for 2026 show ticket sales for Live Nation concerts are up double-digits, with approximately 67 million fans expected to attend [1][2] Venue Expansion and Infrastructure - The company invested nearly $15 billion in artists and shows, reinforcing its position as a leading financial supporter of artists [1] - Venue Nation expanded its portfolio, adding six million fans on a run-rate basis in 2025, with plans for further expansion expected to add five to seven million fans in 2026 [1][2] Sponsorship and Brand Partnerships - Sponsorship spending across Live Nation's global venue portfolio grew mid-teens, with notable partnerships in travel, entertainment, beverages, and financial services [1] - The company anticipates that sponsorship AOI growth will be heavily driven by venue portfolio expansion and global festivals in 2026 [2] Cash Flow and Capital Expenditures - Live Nation generated operating cash flow of $1.4 billion in 2025, with free cash flow adjusted at $1.3 billion, both up double-digits from the previous year [2] - Capital expenditures for 2026 are expected to be between $1.1 billion and $1.2 billion, with a focus on venue expansion and enhancement projects [2]