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
AOI margin
“similar to last year”
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
• These venues, along with plans to add or refurbish an additional 14 venues through 2025, are expected to increase capacity by an incremental eight million fans • Elevating the fan experience: ◦ At Live Nation amphitheaters, average net per fan spending grew over $3 per fan, up 9%, for the same artists’ shows in 2024 relative to 2022/2023 ◦ Globally, major festivals (over 100k fans) average net per fan spending up double-digits for repeating events • Fans continue to seek premium offerings: ◦ VIP ticket premium revenue at major festivals (over 100k fans) up more than 20% ◦ Revenue for amphitheater VIP clubs increased by 19% 4 RESULTS REFLECT STRONG ONGOING DEMAND AND IMPACT OF VENUE MIX • Revenue of $694 million • AOI of $236 million • Full-year AOI margin expected to be similar to last year BUILDING BASE FOR CONTINUED GROWTH (YTD THROUGH Q3 VS SAME PERIOD LAST YEAR) • October transacted ticket sales up 15% on all ticket volume and up 23% for concert events, including Live Nation shows • 24 million net new enterprise tickets signed, with two-thirds from international markets • 238 million fee-bearing tickets sold, growing at an 8% CAGR since 2019, reflecting Ticketmaster’s global platform and ability to serve high demand onsales and global clients 5 SPONSORSHIP GROWTH DRIVEN BY GLOBAL VENUE PLATFORM (Q3 VS SAME PERIOD LAST YEAR) • Revenue of $390 million, up 6% • AOI of $275 million, up 10% • Full-year AOI margin expected to be similar to last year GLOBAL PARTNERSHIPS POSITION SPONSORSHIP FOR ONGOING GROWTH (YTD THROUGH Q3 VS SAME PERIOD LAST YEAR) • AOI growth largely driven by on-site platforms, international markets, and ticket access deals • Number of strategic partners who generate more than $1 million per year increased by 20% and drove majority of the revenue growth • Expanded beauty and fashion portfolio at more global festivals, including brands such as American Apparel, Wrangler, Ulta Beauty, and American Eagle in Mexico 6 Capital Expenditures to Support Ven
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.