Live Nation Entertainment (LYV) investor relations material

Executive summary

• Global fan demand for live events remains robust, with over 143 million tickets sold through mid-July 2026, up 14 million year-over-year, and nearly 49 million fans attending shows, a 10% increase compared to Q2 2025.

• Revenue for Q2 2026 increased 9% year-over-year to $7.7 billion, with double-digit growth in Ticketing and Sponsorship & Advertising segments and strong international demand in Concerts.

• Operating income for Q2 2026 rose 7% to $521.9 million, but YTD operating income fell 75% to $151.4 million due to a $450 million accrual for litigation settlements.

• Consumer spending at venues, including food, beverage, and premium offerings, continues to rise, with no signs of pullback in discretionary spending.

• International markets were key growth drivers, contributing significantly to attendance and AOI growth across all segments.

Financial highlights

• Q2 2026 revenue: $7.7 billion (+9% YoY); YTD revenue: $11.46 billion (+10% YoY).

• Q2 2026 operating income: $521.9 million (+7% YoY); YTD operating income: $151.4 million (-75% YoY).

• Adjusted Operating Income (AOI) for Q2 2026: $817.0 million (+2% YoY); YTD AOI: $1.19 billion (+4% YoY).

• Net income attributable to common stockholders for Q2 2026 was $294.4 million, up from $243.4 million in Q2 2025; YTD net loss attributable to common stockholders was $94.7 million, compared to income of $266.6 million in the prior year.

• Free cash ended at $2 billion, up from $1.7 billion last quarter.

Outlook and guidance

• Strong Q3 and Q4 anticipated, with double-digit fan growth projected in both U.S. and international markets for the second half.

• Deferred revenue at quarter-end reached a record $6.4 billion (+25%), indicating strong activity for the second half of 2026.

• Full-year fan attendance projected to grow 10%, with operated venues up double digits and third-party venues up high single digits.

• Concerts, Ticketmaster, and Sponsorship AOI all expected to grow double digits for the full year, with margin expansion anticipated.

• 2026 is expected to be a record year, and early bookings for 2027 indicate another strong year across all venue types.