Live Nation has posted another record-breaking quarter, powered by strong global fan demand across concerts, ticketing, and sponsorship. The company reported revenue of $8.5 billion, up 11% year-on-year, with operating income rising 24% to $793 million and adjusted operating income (AOI) up 14% to $1.03 billion.
“Strong fan demand drove another record quarter, as we continue to attract more fans to more shows globally. With these tailwinds, 2026 is off to a strong start with a double-digit increase in our large venue show pipeline and increased sell-through levels for these shows. At the same time, we’re continuing to invest in new venues to grow the market, create jobs, and give artists even more ways to reach fans, positioning Live Nation on a clear path for double-digit operating income and AOI growth this year and compounding at this growth level over the next several years,” said Michael Rapino, President and CEO of Live Nation.
Record Results Across All Segments
The company achieved a record stadium show count, up 60% globally, hosting over 51 million fans during the quarter. Concert revenue rose to $7.3 billion (+11%) with AOI up 8%. Fan growth was led by Europe and Mexico, both seeing double-digit increases.
Fan spending continued to rise, up 8% at amphitheaters and 6% at major festivals (100,000+ attendees).
Ticketmaster reported a 21% AOI increase, driven by a 12% rise in fee-bearing gross transaction value (GTV). The platform also added 26.5 million net new client tickets, already exceeding its full-year 2024 total.
Sponsorship and Future Pipeline
Sponsorship AOI grew 14%, supported by several new strategic partnerships. Deferred revenue hit record levels, with event-related deferred revenue up 37% to $3.5 billion and Ticketmaster deferred revenue up 30% to $231 million, underscoring strong advance sales for 2025 and 2026.
Outlook: Momentum Building for 2026
Live Nation’s 2026 large-venue show pipeline is already up double-digits, with nearly three-quarters of expected shows committed or under offer. Ticket sales for 2026 concerts have reached 26 million, up double-digits across stadiums, arenas, and festivals, while average grosses and sell-through rates are also tracking higher.
Sponsorship commitments for 2026 are up double-digits, with approximately 65% of expected business already booked.
Live Nation expects to welcome approximately 160 million fans in 2025, marking another all-time high. For the first time, its international markets are projected to surpass U.S. attendance.
With continued growth across all divisions and a robust global pipeline, Live Nation says it remains firmly on track for double-digit operating income and AOI growth for the full year.
