HighGravityDataLive Nation Entertainment — Nov 12, 2024 release
Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001335258-24-000155
Showing in the filing
Adjusted operating income growth
“pacing toward double-digit AOI growth”
Period
FY2024
Measure
Company-defined measure
Source
Prose
All guidance in this release · 17
Adjusted operating income growth for FY2024
“pacing toward double-digit AOI growth”
Concerts AOI margin for FY2024
“on track to deliver 2024 margins toward pre-pandemic levels”
Venues added or refurbished for FY2025
“an additional 14 venues”
Incremental fan capacity from venue additions for FY2025
“an incremental eight million fans”
Sponsorship & Advertising full-year AOI margin for FY2024
“Full-year AOI margin expected to be similar to last year”
AOI margin for FY2024
“similar to last year”
Capital expenditures for FY2024
“$700 million”
Share of total capex driven by Venue Nation for FY2024
“Three-quarters”
Share of total venue spend from five venues for FY2024
“approximately 45%”
Capital committed by third parties for FY2024
“$130 million”
AOI to free cash flow—adjusted conversion for FY2024
“expected to be consistent with historical levels”
Foreign exchange impact on operating income for Q4 FY2024
“could impact operating income by over 30%”
Operating income impact from foreign exchange
“over 30%”
Foreign exchange impact on AOI for Q4 FY2024
“AOI by mid-teens percentage for the quarter”
AOI impact from foreign exchange
“mid-teens percentage”
Share count for FY2024
“not expected to change materially from 2023”
AOI to free cash flow—adjusted conversion for FY2024
“consistent with historical levels”
Exhibit 99.1 · the passage around this item
… earlier in the release
4 RESULTS “We wrapped up our most active summer concert season ever, our show pipeline has never been bigger, and brand sponsorships are accelerating. While operating income will be impacted by one-time accruals, we are pacing toward double-digit AOI growth this year. As we look toward an even bigger 2025, we have a larger lineup of stadium, arena and amphitheater shows for fans to enjoy. Momentum continues to build, as we expand the industry’s infrastructure with music-focused venues to support artists and reach untapped fan demand across the globe.” –Michael Rapino, President and CEO, Live Nation Entertainment QUARTERLY HIGHLIGHTS: MOMENTUM CONTINUES AFTER BIGGEST SUMMER CONCERT SEASON (versus prior year, reported FX) • Revenue of $7.7 billion • Operating income of $640 million • Adjusted operating income of $910 million • Highest ever concerts profitability with adjusted operating income of $474 million, up 39%, and margins of 7.2%, up more than two hundred basis points • Venue Nation fans spending more on-site: double-digit increases in on-site spending per fan at major festivals (over 100k fans) and up 9% at amphitheaters (same artist comparison) year-to-date • 144 million tickets sold for 2024 Live Nation concerts through October, up 3% • October transacted ticket sales for Ticketmaster up 15% on all ticket volume and up 23% for concert events, including Live Nation shows • Nearly all expected sponsorship commitments for the ye
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.