Live Nation Entertainment Inc. - LYV STOCK NEWS

Live Nation Entertainment reported strong Q2 2024 results, with revenue up 7% to over $6 billion and operating income up 21% to $466 million. The company hosted 39 million fans globally at concerts, a 5% increase, with double-digit growth in arenas and amphitheaters. Key highlights include:

- Record Q2 concerts adjusted operating income margin of 5.4%
- 183 million fee-bearing tickets sold year-to-date, up 3%
- Onsite sponsorship from operated venues and festivals up 28% year-to-date
- Venue Nation to host over 60 million fans this year, up 10%+
- New artists touring up 130% year-to-date

Despite reduced stadium activity, Live Nation expects double-digit AOI growth for the year and anticipates a busy 2025. The company's strategic investments in hospitality and infrastructure are driving strong returns, with fans prioritizing concert-going and increasing onsite spending.

Live Nation Entertainment (NYSE: LYV), the world's leading live entertainment company, has announced the schedule for its second quarter 2024 earnings release and teleconference. The financial results will be released after market hours on Tuesday, July 30, 2024. Following the release, President and CEO Michael Rapino will host a teleconference at 2:00 p.m. PT (5:00 p.m. ET) on the same day. The call will cover the company's financial performance, operational outlook, and other business matters. This announcement provides investors and analysts with a specific date to anticipate Live Nation's latest financial updates and insights into its future strategies.

PENN Entertainment has expanded its partnership with Ticketmaster to enhance its loyalty program, PENN Play™. From now on, over 30 million PENN Play members can redeem rewards for tickets to concerts, sporting events, and shows through Ticketmaster. The new integration allows members to use PENN Cash for purchasing event tickets, providing a convenient payment option. In addition, PENN Entertainment will host on-site activations at five amphitheaters across the U.S. This expansion aims to deepen customer engagement and cater to the increasing demand for live event perks among loyalty program members.

KIDZ BOP, in collaboration with Live Nation, has announced an extension of its KIDZ BOP LIVE 2024 Tour, adding 17 new dates. The tour, now running through November, kicks off on June 27 in Stamford, CT, and will visit 60+ cities, including Atlanta, Boston, Dallas, and Denver.

Spotify joins as an official tour partner, with presales starting June 24 and general sales on June 28. The tour will feature hits from 'KIDZ BOP 2024 Vol. 2,' available for pre-order. VIP packages are also offered for a premium concert experience.

Spin Master's Unicorn Academy™ will be promoted during the tour, with interactive activations hosted by Spotify in select cities. Tour management is handled by Red Light Management and Independent Artist Group.

Live Nation Entertainment (NYSE: LYV), a global leader in live entertainment, will provide a regulatory update on May 23, 2024.

The management will host a teleconference at 5 p.m. PT (8 p.m. ET), which will be accessible via a live webcast on the company's website.

Interested parties can register for the webcast, and any supplemental financial and statistical information shared during the call will be available in the 'Financial Information' section of the website.

Live Nation's all-in pricing policy shows ticket buyers the total cost and fees upfront, yielding an 8% increase in completed sales within its first six months. This initiative spans 33 states and Washington D.C., covering nearly 9,000 shows. It aims to reduce cart abandonment and enhance transparency for fans. The policy aligns with the TICKET Act, which seeks nationwide pricing transparency. Live Nation's CEO, Michael Rapino, advocates for federal adoption of this policy. Additionally, the company supports legislation against speculative ticketing and other consumer-friendly reforms. Consumers are urged to report non-compliant resale platforms.

Shania Twain has debuted her new Las Vegas residency show, COME ON OVER – The Las Vegas Residency – All The Hits! at Bakkt Theater, Planet Hollywood Resort & Casino. This marks her third residency on the Las Vegas Strip and celebrates the 25th anniversary of her iconic album, Come On Over. The show includes hits like “Man! I Feel Like A Woman!” and “You’re Still The One”. Tickets are on sale through December 2024, with $1 from each ticket benefiting Shania Kids Can, a charity supporting at-risk children.

Live Nation Entertainment, Inc. (NYSE: LYV) will participate in J.P. Morgan's 52nd Annual Global Technology, Media and Communications Conference, with President and CFO Joe Berchtold presenting on May 21, 2024. The event will be live webcasted on the company's website.

Mary J. Blige, in collaboration with PEPSI®, Live Nation Urban, and MVD Inc., announces the third annual Strength of a Woman Summit in New York City on May 11th. The event will feature renowned speakers, empowering programming, and exclusive experiences focused on various topics such as wellness, culture, finance, and entrepreneurship. The Summit is free for all attendees, thanks to official sponsors like Mielle Organics, Verizon Business, Starz, and ASCAP. PEPSI® will provide food, cocktails, and beverages at the Pepsi Dig In Village, showcasing dishes from female-owned restaurants. Additional activities include panels, photo opportunities, and themed experiences throughout the day.