HighGravityDataLive Nation Entertainment — Feb 19, 2026 release
Fiscal 2025 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001335258-26-000007
Showing in the filing
Sponsorship commitments booked
“Over 70%”
Period
FY2026
Measure
Company-defined measure
Source
Prose
All guidance in this release · 31
AOI growth for FY2025
“double-digit”
Adjusted operating income (AOI) growth for FY2026
“double-digit”
Concerts global fan attendance growth for FY2026
“high-single digits”
Concerts AOI growth for FY2026
“double-digit”
Venue Nation fan count for FY2026
“over 70 million fans”
Sponsorship commitments booked for FY2026
“Over 70%”
Venues opened in 2025 - run-rate annual AOI … for FY2028
“by 2028”
Run-rate annual AOI achievement for venues o… for FY2025
“by 2028”
IRRs for venues opening in 2026 for FY2026
“20%+”
Large venue new fan additions (run-rate basi… for FY2026
“five to seven million fans”
Preopening costs for venues under development for FY2026
“approximately $50 million”
Venues opening in 2026 - run-rate annual AOI… for FY2029
“by 2029”
Run-rate annual AOI achievement for venues o… for FY2026
“by 2029”
Venues opened in 2025 - IRR for the long term
“20%+ IRRs”
Venues opening in 2026 - IRR for the long term
“20%+ IRRs”
Primary fee-bearing GTV growth for FY2026
“mid to high-single digits”
Impact to ticketing AOI from anti-scalping/b… for FY2026
“mid-single digits”
Impact on ticketing AOI from initiatives to … for FY2025
“mid-single digits”
Full-year AOI to free cash flow—adjusted con… for FY2026
“expected to be higher than 2025”
Capital expenditures for FY2026
“$1.1 to $1.2 billion”
Capex for venue expansion and enhancement pr…
“Approximately $800 to $850 million”
Reduction in venue investment cash requireme… for FY2026
“approximately $250 million”
Venue investment cash requirements reduction…
“approximately $250 million”
Depreciation and amortization expense growth for FY2026
“10%”
Interest expense, net of interest income for FY2026
“$280 million”
Tax expense (% of AOI) for FY2026
“15-20% of AOI”
Cash taxes (% of tax expense) for FY2026
“approximately 80% of that amount”
Accretion expense for FY2026
“$160-180 million”
Share count for FY2026
“not expected to change materially from 2025”
Compounded operating income and AOI growth for the long term
“double-digit growth”
Fan additions from large venues opening in 2… for FY2026
“five to seven million fans”
Exhibit 99.1 · the passage around this item
… earlier in the release
owned or operated large amphitheater shows (confirmed and offer-in) pacing higher than 2025 and a record 2024 • Ticket sales for Live Nation concerts this year up double-digits to approximately 67 million fans, pointing to an acceleration in fan growth globally ◦ Fan demand shattered records with Bruno Mars delivering largest single-day ticket sales in Live Nation history, Harry Styles hitting 11.5 million pre-sale registrations, and BTS selling out a 41-date stadium tour ◦ Early indicators point to strong festival demand, with Electric Daisy Carnival sold out and ticket sales for Austin City Limits, Reading, and Leeds up double-digits • Ticketmaster delivered a record January with concert ticket GTV up over 50% led by North America on-sales • Venue Nation expected to host over 70 million fans in 2026, growing high-single to low-double digits • Over 70% of 2026 sponsorship commitments booked, up double-digits 1 GLOBAL ARTIST REACH FUELED BEST-EVER FINANCIAL PERFORMANCE (vs FY24) • Revenue of $20.9 billion, up 10% • AOI of $687 million, up 30% • Margins expanded to 3.3%, one-half percent higher than last year • Hosted 159 million fans, up 5%, across 55 thousand shows globally: ◦ International markets delivered record fan count, exceeding the U.S. for the first time and with double-digit fan growth across all major venue types ◦ North American stadium fan count more than doubled ◦ 20% of fans attending our top 50 tours were for international acts, reflecting broad-based demand for all genres of music • Delivered higher value to artists with average U.S. stadium grosses growing double-digits to help offset rising production costs • Prioritized fan affordability with get-in prices across all U.S. venue types holding flat to 2024 levels and pacing below inflation, with 75% of all U.S. tickets available for under $100 EARLY FAN DEMAND SIGNALS A RECORD 2026 FOR ARTISTS WORLDWIDE • Concerts expected to deliver double-digit AOI growth for the full year EXPANDING THE ARTIST’S GLOBAL STAGE: VENUE NATION UNLOCKS NEW MARKETS FOR TALENT (vs FY
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.