Live Nation Q1: operating income $115M, record deferred revenue $5.4B, positive outlook

Live Nation Entertainment, Inc.

2025-Q1 EPS reported -$0.32 revenue$3,382,117,000

Q1 operating income $115M; AOI $341M ($361M constant currency); revenue $2.5B.
Deferred revenue record: Concerts $5.4B (+24% YoY), Ticketmaster $270M (+13% YoY).
Through mid-April, 95M concert tickets sold (+double-digit); stadium tickets +80% YoY.
Q2 strong start: Ticketmaster concert ticket sales +25%, GTV +45% in first two weeks of April.
FY 2025 capex guided $900M-$1B; 20 major venues to open through 2026; minimal tariff impact.

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