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Live Nation Entertainment Inc - Stock Quote LYV

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Morningstar's Live Nation Entertainment Inc Stock Analysis

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Live Nation Posts Strong Underlying Metrics To Start 2022; on Pace To Beat Pre-Pandemic Levels

Neil Macker, CFA Senior Equity Analyst

Analyst Note

| Neil Macker, CFA |

Live Nation’s 2022 focus on returning to pre-pandemic levels appears on track with over 70 million tickets sold for 2022 shows, 36% above the same point in 2019, and 90% of planned sponsorship for the year already booked. Both the level of demand and supply for live music continue to expand despite limited activity in certain markets. The rebound remains leveraged to the U.S. and the U.K., which collectively accounted for 80% of attendees in the quarter, though the share dropped sequentially from 90% in the fourth quarter. We keep our narrow moat and raise our fair value estimate to $105 from $100 as we now project a higher revenue rebound in 2022.

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Live Nation Entertainment Inc's Company Profile

Business Description

Live Nation is the largest live entertainment firm in the world with over 570 million fans served in 44 countries in 2018 by the company’s concert and ticketing platforms. Via either owning, operating, or holding exclusive booking rights, Live Nation controls over 235 venues including the House of Blues, the Hollywood Palladium, and Spark Arena in New Zealand. Live Nation also owns one of the largest ticketing services, Ticketmaster, which sold over 480 million tickets for over 12,000 clients in 2018. The firm’s artist management agencies have over 400 clients. This large live entertainment footprint helped Live Nation become one of the largest advertising and sponsorship platforms aimed at music fans. Liberty Media owns 33% of Live Nation, held under its SiriusXM tracking stock.

9348 Civic Center Drive
Beverly Hills, CA, 90210
T +1 310 867-7000
Sector Communication Services
Industry Entertainment
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Slow Growth
Employees 10,200