HighGravityDataLive Nation Entertainment — May 1, 2025 release
Fiscal 2025 first-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001335258-25-000053
Showing in the filing
Impact from tariffs to supply chain or touring logistics
“minimal”
Period
No period stated
Measure
Company-defined measure
Source
Prose
All guidance in this release · 31
Adjusted operating income (AOI) growth for FY2025
“double-digit growth”
Concerts segment full-year AOI margin for FY2025
“consistent with last year”
Tariff impact on supply chain and touring lo… for FY2025
“minimal impact”
Impact from tariffs to supply chain or touri…
“minimal”
Fans attending shows in operated venues for FY2025
“up double-digits”
Fans attending shows in our operated venues for FY2025
“up double-digits”
Large venues to open globally for FY2026
“at least 20”
New large venue openings for FY2026
“at least 20 large venues”
Incremental fan capacity from venue expansion for FY2026
“approximately seven million incremental fans on a run-rate basis”
Average investment returns on venue expansion for FY2026
“20%+”
Ticketing segment AOI growth for FY2025
“AOI growth accelerating into 2H”
AOI margin for FY2025
“in the high 30s, consistent with prior years”
Capital expenditures for FY2025
“$900 million to $1 billion”
Venue expansion and enhancement capital expe… for FY2025
“$700 to $800 million”
IRRs on venue expansion and enhancement plans
“averaging 20%+”
IRRs on venue expansion and enhancement plans for FY2025
“20%+”
Funding from joint-venture partners, sponsor… for FY2025
“Approximately $200 to $250 million”
Maintenance capex spend for FY2025
“remains consistent with historical levels”
Maintenance capex spend
“consistent with historical levels”
Foreign exchange impact on revenue, operatin… for Q2 FY2025
“low-single digits”
Impact of foreign exchange to revenue, opera… for Q2 FY2025
“low-single digits”
Depreciation and amortization for FY2025
“increase by approximately $75 million compared to last year”
Depreciation and amortization increase for FY2025
“approximately $75 million”
Accretion for FY2025
“$125 million higher than last year”
Accretion increase for FY2025
“$125 million higher than last year”
Non-controlling interest and taxes for FY2025
“expected to increase in line with our AOI growth”
Share count for FY2025
“not expected to change materially from 2024”
Long-term growth for the long term
“double-digits”
Ticketing segment full-year AOI margin for FY2025
“in the high 30s, consistent with prior years”
Sponsorship & Advertising segment full-year … for FY2025
“in the low 60s, consistent with prior years”
AOI to free cash flow—adjusted conversion rate for FY2025
“consistent with historical levels”
Exhibit 99.1 · the passage around this item
… earlier in the release
averaging below last year and pacing 10 percentage points below the rate of inflation since 2019 ◦ $40 average get-in price across all venue types ◦ $60 average get-in price across stadiums, 8% below 2024 levels • Full-year AOI margins expected to be consistent with last year ◦ Based on our current assessment, minimal impact from tariffs expected to our supply chain or touring logistics for the year VENUE NATION CONTINUES TO EXPAND HOSPITALITY OFFERINGS (VS 1Q24) • Approximately 10 million fans attended shows in our operated venues in Q1, up double-digits • Continuing to enhance hospitality offerings to meet fan demand ◦ Food and beverage spend globally at theaters and clubs at or above last year levels ◦ Ancillary per fan spend at Estadio GNP up over 30% after refurbishment, driven by increased on-site and premium experience spending SCALING VENUE EXPANSION TO UNLOCK GLOBAL DEMAND • Fans attending shows in our operated venues expected to be up double-digits this year • Plan to open at least 20 large venues (stadiums, arenas, amphitheaters, and large theaters) globally through 2026, creating capacity for approximately seven million incremental fans on a run-rate basis and delivering average investment returns of 20%+ 2 STRONG CONCERTS ACTIVITY DRIVES TICKETMASTER RESULTS (VS 1Q24) • Revenue of $695 million • AOI of $253 million • Concerts primary GTV up 9%, reflecting strong consumer demand for live music • Fee-bearing tickets of 78 million, consistent with last year ◦ Concerts tickets up 4% an
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.