HighGravityDataLive Nation Entertainment — May 5, 2026 release
Fiscal 2026 first-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001335258-26-000018
Showing in the filing
Adjusted operating income (AOI) growth
“double-digits”
Period
FY2026
Measure
Company-defined measure
Source
Prose
All guidance in this release · 41
Venue Nation fans at owned or operated venue… for FY2026
“double-digits”
Adjusted operating income (AOI) growth for FY2026
“double-digits”
Concerts full year fan attendance growth for FY2026
“high-single digits”
Amphitheater fan growth occurring in Q3 for Q3 FY2026
“70%”
Stadium fan growth timing
“will occur in the second half”
Concerts AOI growth for FY2026
“double-digit”
Venues opened in 2025 - timing to reach run-… 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%+”
Venues opened in 2025 - IRR for the long term
“20%+ IRRs”
Venues opening in 2026 - IRR for the long term
“20%+ IRRs”
TD Coliseum (Hamilton) full-year show count for FY2026
“80 shows”
TD Coliseum shows for FY2026
“80”
Rogers Stadium (Toronto) projected full-year… for FY2026
“up 40%”
Rogers Stadium show count for FY2026
“up 40% compared to its inaugural year in 2025”
Major Venue Nation projects for FY2026
“two U.S. amphitheaters and one stadium in Guadalajara, Mexico”
Preopening costs for all venues under develo… for FY2026
“approximately $50 million”
Venues opening in 2026 - timing to reach run… for FY2029
“by 2029”
Run-rate annual AOI achievement for venues o… for FY2026
“by 2029”
Impact on full-year Ticketmaster AOI from ef… for FY2026
“mid-single digits”
Impact to full-year Ticketmaster AOI from ef… for FY2026
“mid-single digits”
Primary fee-bearing ticket volume growth for FY2026
“mid-single digits”
Ticketmaster primary fee-bearing ticket volu… for FY2026
“mid-single digits”
AOI margin for FY2026
“similar to last year”
Sponsorship & Advertising full year AOI margin for FY2026
“similar to last year”
Sponsorship & Advertising AOI growth for FY2026
“double-digits”
Capital expenditures for FY2026
“$1.1 to $1.2 billion”
Capex for venue expansion and enhancement pr… for FY2026
“Approximately $800 to $850 million”
Reduction in venue investment cash requireme… for FY2026
“approximately $250 million”
Venue investment cash requirements reduction…
“approximately $250 million”
AOI to free cash flow—adjusted conversion for FY2026
“expected to be in line with or higher than 2025”
Depreciation and amortization growth for FY2026
“12-15%”
Net interest expense for FY2026
“$280 million”
Income tax expense as a percentage of AOI for FY2026
“15-20%”
Income tax expense
“15-20% of AOI”
Cash taxes
“projected to be 80% of that amount”
Cash taxes as a percentage of income tax exp… for FY2026
“80% of that amount”
Noncontrolling interest expense
“expected to grow 25%”
Accretion expense for FY2026
“$160-180 million”
Share count for FY2026
“not expected to change materially from 2025”
Share count change vs. 2025 for FY2026
“not expected to change materially from 2025”
Exhibit 99.1 · the passage around this item
… earlier in the release
1Q25) • Revenue of $3.8 billion, up 12% • Operating loss of $371 million, impacted by a $450 million legal accrual • Adjusted operating income (AOI) of $371 million, up 9% with operating strength across all segments: ◦ Concerts AOI of $3 million with fan attendance of 24 million, up 7% ◦ Ticketing AOI of $256 million, driven by 81 million fee-bearing tickets, up 4% ◦ Sponsorship AOI up 21% to $165 million, driven by brand demand to connect with our global fan base • Q1 deferred revenue for Concerts and Ticketmaster at record levels: ◦ Event-related deferred revenue of $6.6 billion, up 22%—largest deferred revenue balance in company history ◦ Ticketing deferred revenue of $368 million, up 29%, accounting for $5.5 billion in deferred ticketing gross transaction value (GTV) • While 2026 operating income will be impacted by a $450 million legal accrual, on pace to grow adjusted operating income by double-digits this year 1 GLOBAL ARTIST AND TOURING MOMENTUM ACCELERATE 2026 CONCERTS PERFORMANCE • Revenue of $2.8 billion, up 12% vs. 1Q25 • Q1 AOI of $3 million and $12 million on a constant currency basis • Over 85% of 2026 large venue shows booked (confirmed and offer-in) through the end of April, pacing up high-single digits so far this year, with stadium, arena, and amphitheater show count all up year-on-year • Tickets sold through the end of April for 2026 Live Nation concerts up 11% to over 107 million, with consistent double-digit growth across key venue types—stadiums, arenas, amphitheaters, and festivals • Full year fan attendance projected to grow high-single digits with timing shifts due to venue mix: ◦ Top driver of Q2 fan growth expected to be third-party arenas ◦ 70% of amphitheater fan growth expected to occur in Q3, in line with the summer calendar ◦ All stadium fan growth will occur in the second half • For the full year, Concerts on track to deliver double-digit AOI growth with margins positioned to build on last year’s VENUE NATION EXPANDS GLOBAL FOOTPRINT AND DELIVERS DEEPER FAN ENGAGEMENT • Venues opened in 2025 on track to reach their run-rate annual AOI across Concerts
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.