<!DOCTYPE html><html lang="en"><head><meta http-equiv="origin-trial" content="A/kargTFyk8MR5ueravczef/wIlTkbVk1qXQesp39nV+xNECPdLBVeYffxrM8TmZT6RArWGQVCJ0LRivD7glcAUAAACQeyJvcmlnaW4iOiJodHRwczovL2dvb2dsZS5jb206NDQzIiwiZmVhdHVyZSI6IkRpc2FibGVUaGlyZFBhcnR5U3RvcmFnZVBhcnRpdGlvbmluZzIiLCJleHBpcnkiOjE3NDIzNDIzOTksImlzU3ViZG9tYWluIjp0cnVlLCJpc1RoaXJkUGFydHkiOnRydWV9">
<script type="text/javascript" async="" src="https://www.google-analytics.com/analytics.js"></script><script type="text/javascript" async="" src="https://www.googletagmanager.com/gtag/js?id=UA-113590965-4&l=dataLayer&cx=c&gtm=45je4b70v895705171za200"></script><script type="text/javascript" async="" charset="utf-8" src="https://www.gstatic.com/recaptcha/releases/-ZG7BC9TxCVEbzIO2m429usb/recaptcha__en.js" crossorigin="anonymous" integrity="sha384-gaZtYaI7oJHEOo1YO6VuoCE4iZ5fMV9mYHP0BHf+r2ttABnpWWCIkgI6ItNW4ZdO"></script><script async="" src="https://www.googletagmanager.com/gtag/js?id=G-REPSH58KSM"></script>
<script async="" src="https://www.googletagmanager.com/gtm.js?id=GTM-5KBPWNG"></script>
<meta charset="utf-8">
<meta http-equiv="content-language" content="en">
<meta name="google" content="notranslate">
<title>LYV - Earnings call transcript Q3 2024 | Live Nation Entertainment, Inc.</title>
<meta property="og:title" content="LYV - Earnings call transcript Q3 2024">
<meta property="og:description" content="2024 Q3 earnings call transcript for Live Nation Entertainment, Inc.">
<meta property="og:image" content="https://capedge.com/files/LOGO/1335258-LYV.png">
<meta property="og:url" content="https://capedge.com/transcript/1335258/2024Q3/LYV">
<meta property="og:type" content="website">
<meta name="twitter:card" content="summary_large_image">
<meta name="viewport" content="width=device-width, initial-scale=1.0, maximum-scale=1.0, user-scalable=no, shrink-to-fit=no">
<link rel="stylesheet" href="/css/style.css?v=20241112T075812">
<link rel="icon" sizes="32x32" type="image/png" href="/img/icon-200.png">
<link rel="apple-touch-icon" sizes="200x200" href="/img/icon-200.png">
<link rel="canonical" href="https://capedge.com/transcript/1335258/2024Q3/LYV">
</head>
<body class="plan-free no-sidebar-wrap">
<a name="pageTop" id="pageTop"></a>
<div id="alert-container"></div>
<div class="d-lg-none" id="mobile-mode-canary"></div>
<div id="main-container">
<div id="above-footer">
<div class="container">
<div class="row align-items-center py-3 py-lg-2 d-print-none">
<div class="col-4 col-lg-3 order-1 pr-0">
<a href="/user/dashboard" id="logo-container"><img src="/img/capedge-logo-by-finsight.svg?v=20241112T075812" alt="CapEdge" width="174" height="37"></a>
</div>
<div class="col-12 col-lg order-3 order-lg-2 pt-3 pt-lg-0">
<form action="/search" method="get" id="mainSearchForm" spellcheck="false" autocomplete="off" role="search">
<div class="input-group">
<div class="tokenInput tokeninput-container tokeninput-empty flex-grow-1 form-control header-search">
<input id="searchInput" type="search" name="q" placeholder="Search by ticker, company or words in SEC filings" value="" tabindex="1" autocomplete="off" autocorrect="off" autocapitalize="off" style="width: 100%;">
<script class="tokeninput-data" type="application/json">
{
"resultDataProp":"suggestions",
"resultTextProp":"name",
"resultValueProp":"value",
"url":"/search/suggestions?profiles=true&q=$query&ctxType=company&ctxVal=1335258",
"values":[],
"type":"lookup",
"completionGroups" : {
"profiles" : { "heading" : "Filing Profile", "newOption" : false },
"searches" : { "heading" : "Search Across Filings, News and Transcripts", "newOption" : false }
},
"autoSuggestMode":true
}
</script>
</div>
<div id="searchLoading">Loading</div>
<div id="searchAdvanced" class="d-none"><a href="/help/search" tabindex="2">Advanced</a></div>
</div>
</form>
</div>
<div class="col-8 col-lg-3 order-2 order-lg-3">
<div class="d-flex justify-content-end align-items-center user-action-buttons">
<a href="https://help.capedge.com/release-notes/" target="_blank" class="mr-4 text-decoration-none header-help-link"><span class="d-xxl-none"><i class="fe fe-help-circle d-block"></i></span><span class="d-none d-xxl-block"><i class="fe fe-info"></i> What's new?</span></a>
<div class="btn-toolbar align-items-center" role="toolbar" id="favourites-toolbar">
<div class="btn-group" role="group">
<button type="button" id="btn-toggle-favourites" class="btn top-level active" data-toggle="tooltip" data-placement="bottom" title="" data-click-toggle="favourites-col" data-original-title="Toggle favorites"><i class="fe fe-star"></i></button>
<button type="button" id="btn-toggle-alerts" class="btn top-level" data-toggle="tooltip" data-placement="bottom" title="" data-click-toggle="alerts-col" data-original-title="Toggle alert feed"><i class="fe fe-bell"></i></button>
<button type="button" id="btn-toggle-notes" class="btn top-level" data-toggle="tooltip" data-placement="bottom" title="" data-click-toggle="notes-col" data-original-title="Toggle note list"><i class="fe fe-edit"></i></button>
<div class="btn-group" role="group">
<button class="btn top-level dropdown-toggle user-plan-free" type="button" data-toggle="dropdown" aria-haspopup="true" aria-expanded="false">TS</button>
<div class="dropdown-menu dropdown-menu-right">
<a class="dropdown-item" href="/user/edit">
<i class="dropdown-icon fe fe-user"></i>Edit profile
</a>
<a class="dropdown-item" href="/user/changepassword">
<i class="dropdown-icon fe fe-shield"></i>Change password
</a>
<a class="dropdown-item" href="/user/settings">
<i class="dropdown-icon fe fe-sliders"></i>Email settings
</a>
<a class="dropdown-item" href="/user/myaccount">
<i class="dropdown-icon fe fe-info"></i>Manage my account
</a>
<a class="dropdown-item" href="/user/support">
<i class="dropdown-icon fe fe-life-buoy"></i>Support
</a>
<div class="dropdown-divider"></div>
<div class="dropdown-item">
<form action="/user/logout" method="post">
<button type="submit" class="btn btn-sm btn-outline-primary w-100">Logout</button>
</form>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<div class="row d-print-none">
<div class="col">
<ul class="nav nav-tabs align-items-center" id="primary-menu" data-test="menuMain">
<li class="nav-item" data-test="menuMainItem">
<a class="nav-link" href="/">Home</a>
</li>
<li class="nav-item" data-test="menuMainItem">
<a class="nav-link" href="/sector"><span class="d-none d-lg-inline">Sectors & Industries</span><span class="d-lg-none">Sectors</span></a>
</li>
<li class="nav-item separator"></li>
<li class="nav-item" data-test="menuMainItem">
<a class="nav-link" href="/earnings-calendar">Earnings</a>
</li>
<li class="nav-item" data-test="menuMainItem">
<a class="nav-link" href="/ipo-calendar">IPOs</a>
</li>
<li class="nav-item" data-test="menuMainItem">
<a class="nav-link" href="/spacs">SPACs</a>
</li>
<li class="nav-item" data-test="menuMainItem">
<a class="nav-link" href="/transcript/by/companyId/all">Transcripts</a>
</li>
<li class="nav-item separator"></li>
<li class="nav-item" data-test="menuMainItem">
<a class="nav-link" href="/insider">Insider</a>
</li>
<li class="nav-item" data-test="menuMainItem">
<a class="nav-link" href="/institutional">Institutional</a>
</li>
<li class="nav-item separator"></li>
<li class="nav-item" data-test="menuMainItem">
<a class="nav-link" href="/crypto">Crypto</a>
</li>
<li class="nav-item" data-test="menuMainItem">
<a class="nav-link" href="/screener/stock">Screeners</a>
</li>
<li class="nav-item" data-test="menuMainItem">
<a class="nav-link" href="/social">Reddit</a>
</li>
<li class="nav-item" data-test="menuMainItem">
<a class="nav-link" href="/stock-split-calendar">Splits</a>
</li>
<li class="nav-item right" data-test="menuMainItem">
<a class="nav-link" href="/user/dashboard">My Dashboard</a>
</li>
</ul>
</div>
</div>
<div class="row flex-nowrap pb-5" id="columns-row" data-open="1">
<div class="col order-2 sticky-scrolly user-feed-col mobile-toggle-only-one d-print-none " id="favourites-col">
<div class="">
<div class="btn-toolbar align-items-center w-100" role="toolbar" id="favourites-toolbar">
<div class="mr-auto toolbar-title" data-count="0">Favorites</div>
<div class="btn-group" role="group">
<button type="button" class="btn btn-sm" data-toggle="modal" data-target="#modalAddFavourite"><i class="fe fe-plus-circle"></i></button>
<button type="button" class="btn btn-sm d-md-none" data-click-toggle="favourites-col"><i class="fe fe-x"></i></button>
</div>
</div>
</div>
<div class="br">
<ul id="favourites-list" class="list-unstyled mb-0 w-100 empty-placeholder" data-count="0"></ul>
</div>
</div>
<div class="col order-3 sticky-scrolly user-feed-col mobile-toggle-only-one d-print-none collapsed" id="alerts-col">
<div class="">
<div class="btn-toolbar align-items-center w-100" role="toolbar" id="alerts-toolbar">
<div class="mr-auto toolbar-title">Alert feed</div>
<div class="btn-group" role="group">
<button type="button" class="btn btn-sm" data-toggle="modal" data-target="#modalAlertSettings" id="btn-alert-config"><i class="fe fe-settings"></i></button>
<button type="button" class="btn btn-sm d-md-none" data-click-toggle="alerts-col"><i class="fe fe-x"></i></button>
</div>
</div>
</div>
<div class="br">
<ul id="alerts-list" class="list-unstyled mb-0 block-list w-100 empty-placeholder">
</ul>
</div>
</div>
<div class="col order-4 sticky-scrolly user-feed-col mobile-toggle-only-one d-print-none collapsed" id="notes-col">
<div>
<div class="btn-toolbar align-items-center w-100" role="toolbar" id="notes-toolbar">
<div class="mr-auto toolbar-title" data-count="0">Notes</div>
<div class="btn-group" role="group">
<div>
<div id="add-note-recaptcha" class="g-recaptcha" data-sitekey="6Le1YlooAAAAAIpAmJQ9Vu8FsSGGsncij4tpVSol" data-callback="recaptchaAddNote" data-size="invisible"><div class="grecaptcha-badge" data-style="bottomright" style="width: 256px; height: 60px; display: block; transition: right 0.3s; position: fixed; bottom: 14px; right: -186px; box-shadow: gray 0px 0px 5px; border-radius: 2px; overflow: hidden;"><div class="grecaptcha-logo"><iframe title="reCAPTCHA" width="256" height="60" role="presentation" name="a-8swq3cybn2e2" frameborder="0" scrolling="no" sandbox="allow-forms allow-popups allow-same-origin allow-scripts allow-top-navigation allow-modals allow-popups-to-escape-sandbox allow-storage-access-by-user-activation" src="https://www.google.com/recaptcha/api2/anchor?ar=1&k=6Le1YlooAAAAAIpAmJQ9Vu8FsSGGsncij4tpVSol&co=aHR0cHM6Ly9jYXBlZGdlLmNvbTo0NDM.&hl=en&v=-ZG7BC9TxCVEbzIO2m429usb&size=invisible&cb=yegu4b8ik6sy"></iframe></div><div class="grecaptcha-error"></div><textarea id="g-recaptcha-response" name="g-recaptcha-response" class="g-recaptcha-response" style="width: 250px; height: 40px; border: 1px solid rgb(193, 193, 193); margin: 10px 25px; padding: 0px; resize: none; display: none;"></textarea></div><iframe style="display: none;"></iframe></div>
<button type="button" class="btn btn-sm prevent-double-click" id="add-note-button"><i class="fe fe-plus-circle"></i></button>
</div>
<div class="dropdown" id="note-sort">
<button class="btn btn-sm" type="button" id="dropdownMenuButton" data-toggle="dropdown">
<i class="fe fe-settings"></i>
</button>
<div class="dropdown-menu dropdown-menu-right">
<h6 class="dropdown-header">Sort notes by</h6>
<button class="dropdown-item active" data-sort="created">Created</button>
<button class="dropdown-item" data-sort="updated">Updated</button>
<button class="dropdown-item" data-sort="title">Alphabetical</button>
</div>
</div>
<button type="button" class="btn btn-sm d-md-none" data-click-toggle="notes-col"><i class="fe fe-x"></i></button>
</div>
</div>
</div>
<div class="br">
<ul id="notes-list" class="list-unstyled mb-0 block-list w-100 empty-placeholder" data-limit="" data-count="0" data-num-displayed="" data-per-page="20"></ul>
<div id="note-list-end"></div>
</div>
</div>
<div class="col order-1 resp-container resp-sm resp-md" id="main-col" data-observe-resizes="true">
<div class="d-flex flex-column">
<div class="row mb-3 d-print-none secondary-menu-row order-2">
<div class="col">
<ul class="nav nav-tabs align-items-center px-4" id="secondary-menu" data-test="secondaryMenu">
<li class="nav-item " data-test="secondaryMenuItem">
<a class="nav-link" href="/company/1335258/LYV">
<span class="tab-ticker">LYV</span> Dashboard
</a>
</li>
<li class="nav-item " data-test="secondaryMenuItem">
<a class="nav-link" href="/company/1335258/LYV/financials">
Financials
</a>
</li>
<li class="nav-item " data-test="secondaryMenuItem">
<a class="nav-link" href="/company/1335258/LYV/filings">
Filings
</a>
</li>
<li class="nav-item " data-test="secondaryMenuItem">
<a class="nav-link" href="/transcript/by/companyId/1335258">
Transcripts
</a>
</li>
<li class="nav-item separator"></li>
<li class="nav-item " data-test="secondaryMenuItem">
<a class="nav-link" href="/company/1335258/LYV/etfs">
ETFs
</a>
</li>
<li class="nav-item " data-test="secondaryMenuItem">
<a class="nav-link" href="/company/1335258/LYV/insider-ownership-history">
Insider
</a>
</li>
<li class="nav-item " data-test="secondaryMenuItem">
<a class="nav-link" href="/company/1335258/LYV/institutional-ownership-history">
Institutional
</a>
</li>
<li class="nav-item " data-test="secondaryMenuItem">
<a class="nav-link" href="/company/1335258/LYV/short-interest">
Shorts
</a>
</li>
<li class="nav-item separator"></li>
<li class="nav-item " data-test="secondaryMenuItem">
<a class="nav-link" href="/company/1335258/LYV/news">
News
</a>
</li>
<li class="nav-item " data-test="secondaryMenuItem">
<a class="nav-link" href="/patent/by/companyId/1335258">
Patents
</a>
</li>
<li class="nav-item " data-test="secondaryMenuItem">
<a class="nav-link" href="/social/by/companyId/1335258">
Reddit
</a>
</li>
<li class="nav-item separator"></li>
<li class="nav-item " data-test="secondaryMenuItem">
<a class="nav-link" href="/annotation/by/companyId/1335258">
Community Annotations
</a>
</li>
<li class="nav-item active" data-test="secondaryMenuItem">
<div class="nav-link" href="https://capedge.com/transcript/1335258/2024Q3/LYV">
2024 Q3 Transcript
</div>
</li>
</ul>
</div>
</div>
<div class="row align-items-center py-6">
<div class="col">
<h1 class="page-title" data-test="pageTitle">
<span class="company-name">
Live Nation Entertainment
(LYV)
</span>
<span class="banner-crumb">11 Nov 24</span><span class="banner-crumb">2024 Q3 Earnings call transcript</span>
</h1>
<div class="my-1 text-muted-dark">
Company Profile
</div>
</div>
</div>
</div>
<div class="row" id="main-content-cols">
<div class="col order-1 sticky-scrolly mobile-toggle-only-one d-print-none default-sidebar-column" id="sidebar-col">
<div class="text-center mb-5 mobile-toggle-button-cont"><button type="button" class="btn btn-sm btn-outline-primary ml-auto" data-click-toggle="sidebar-col">< Back</button></div>
<div class="transcript-sidebar">
<div class="sidebar-annotations-container"><div class="annotator-editor card" style="display: none;">
<form>
<div class="card-header"><div class="card-title not-in-menu"><div class="d-block">Add <span class="annotation-type"></span></div></div></div>
<div class="card-body">
<ul class="annotator-listing"><li class="annotator-field form-group"><div class="quote" id="annotator-field-0" placeholder="Quote"></div></li><li class="annotator-field form-group"><textarea rows="3" class="form-control" id="annotator-field-1" placeholder="Comments…"></textarea></li><li class="annotator-field form-group"><label class="custom-switch pl-0"><input type="checkbox" class="custom-switch-input" id="annotator-field-2" placeholder="Visible to public"><span class="custom-switch-indicator"></span><span class="custom-switch-description">Visible to public</span></label></li><li class="annotator-field form-group"><input type="hidden" class="form-control" id="annotator-field-3" placeholder="In Reply To"></li></ul>
<div class="annotator-controls d-flex justify-content-between">
<button class="btn btn-primary annotator-save annotator-focus">Save <span class="annotation-type"></span></button>
<button class="btn btn-link annotator-cancel">Cancel</button>
</div>
</div>
</form>
</div><div class="annotator-viewer card" style="display: none;">
<div class="card-header">
<div class="card-title">Annotations</div>
<button type="button" class="btn btn-light ml-auto mobile-toggle-button-cont" id="close-mobile-annotations"><i class="fe fe-x"></i></button>
</div>
<ul class="card-body annotator-listing"></ul>
</div></div>
<div class="card">
<div class="card-header">
<div class="card-title">Share this transcript</div>
</div>
<div class="card-body">
<ul class="social-links list-inline mb-0">
<li class="list-inline-item m-0">
<a href="https://twitter.com/share?url=https%3A%2F%2Fcapedge.com%2Ftranscript%2F1335258%2F2024Q3%2FLYV" target="_blank" rel="noreferrer noopener" data-toggle="tooltip" data-placement="top" title="" data-original-title="Share via Twitter"><i class="fe fe-twitter"></i></a>
</li>
<li class="list-inline-item m-0">
<a href="https://www.linkedin.com/shareArticle?url=https%3A%2F%2Fcapedge.com%2Ftranscript%2F1335258%2F2024Q3%2FLYV&title=LYV%20-%20Earnings%20call%20transcript%20Q3%202024%20%7C%20Live%20Nation%20Entertainment%2C%20Inc." target="_blank" rel="noreferrer noopener" data-toggle="tooltip" data-placement="top" title="" data-original-title="Share via LinkedIn"><i class="fe fe-linkedin"></i></a>
</li>
<li class="list-inline-item m-0">
<a href="mailto:?subject=LYV%20-%20Earnings%20call%20transcript%20Q3%202024%20%7C%20Live%20Nation%20Entertainment%2C%20Inc.&body=https%3A%2F%2Fcapedge.com%2Ftranscript%2F1335258%2F2024Q3%2FLYV" data-toggle="tooltip" data-placement="top" title="" data-original-title="Share via Email"><i class="fe fe-mail"></i></a>
</li>
<li class="list-inline-item m-0">
<a href="#" id="print-button" data-toggle="tooltip" data-placement="top" title="" data-original-title="Print"><i class="fe fe-printer"></i></a>
</li>
<li class="list-inline-item mr-0">
<a href="#" id="copy-link-button" data-toggle="tooltip" data-placement="top" title="" data-original-title="Copy URL to clipboard"><i class="fe fe-link"></i></a>
</li>
</ul>
</div>
</div>
<div class="card">
<div class="card-header">
<div class="card-title">Recent LYV transcripts</div>
</div>
<ul class="container transcript-sidebar-list list-unstyled">
<li>
<a class="row item-row d-block transcript active" href="/transcript/1335258/2024Q3/LYV">
<div class="d-flex">
<div class="title label-col">Earnings call transcript</div>
<div class="filing-type-col">
<div class="filing-period">2024 Q3</div>
</div>
<div class="date">11 Nov 24</div>
</div>
</a>
</li>
<li>
<a class="row item-row d-block transcript" href="/transcript/1335258/2024Q2/LYV">
<div class="d-flex">
<div class="title label-col">Earnings call transcript</div>
<div class="filing-type-col">
<div class="filing-period">2024 Q2</div>
</div>
<div class="date">30 Jul 24</div>
</div>
</a>
</li>
<li>
<a class="row item-row d-block transcript" href="/transcript/1335258/2024Q1/LYV">
<div class="d-flex">
<div class="title label-col">Earnings call transcript</div>
<div class="filing-type-col">
<div class="filing-period">2024 Q1</div>
</div>
<div class="date">2 May 24</div>
</div>
</a>
</li>
<li>
<a class="row item-row d-block transcript" href="/transcript/1335258/2023Q4/LYV">
<div class="d-flex">
<div class="title label-col">Earnings call transcript</div>
<div class="filing-type-col">
<div class="filing-period">2023 Q4</div>
</div>
<div class="date">22 Feb 24</div>
</div>
</a>
</li>
<li>
<a class="row item-row d-block transcript" href="/transcript/1335258/2023Q3/LYV">
<div class="d-flex">
<div class="title label-col">Earnings call transcript</div>
<div class="filing-type-col">
<div class="filing-period">2023 Q3</div>
</div>
<div class="date">2 Nov 23</div>
</div>
</a>
</li>
</ul>
</div>
<div class="card">
<div class="card-header">
<div class="card-title">Associated LYV filings</div>
</div>
<ul class="card-body filing-sidebar-list list-unstyled mb-0">
<li class="clearfix ">
<a href="/filing/1335258/0001335258-24-000156/10Q-2024Q3" class="text-truncate filing-link">
<span class="filing-date">2024 Q3</span>
<span class="text-nowrap filing-type type-10Q type-financial">10-Q</span>
<span class="filing-description ">Quarterly report</span>
</a>
</li>
</ul>
</div>
</div>
</div>
<div class="col order-2">
<button type="button" class="btn btn-sm btn-outline-primary mb-5 mx-auto d-block mobile-toggle-button-cont" data-click-toggle="sidebar-col"><i class="fe fe-more-vertical"></i> Transcript menu</button>
<div class="card transcript">
<div class="card-header">
<div class="card-title">Participants</div>
</div>
<div class="card-body">
<table class="participant-list">
<tbody><tr class="participant">
<td class="name">Amy Yong</td>
<td class="role">executive</td>
</tr>
<tr class="participant">
<td class="name">Joe Berchtold</td>
<td class="role">executive</td>
</tr>
<tr class="participant">
<td class="name">Brandon Ross</td>
<td class="role">analyst</td>
</tr>
<tr class="participant">
<td class="name">David Karnovsky</td>
<td class="role">analyst</td>
</tr>
<tr class="participant">
<td class="name">Stephen Laszczyk</td>
<td class="role">analyst</td>
</tr>
<tr class="participant">
<td class="name">Michael Rapino</td>
<td class="role">executive</td>
</tr>
<tr class="participant">
<td class="name">Cameron Mansson-Perrone</td>
<td class="role">analyst</td>
</tr>
<tr class="participant">
<td class="name">Peter Henderson</td>
<td class="role">analyst</td>
</tr>
<tr class="participant">
<td class="name">David Katz</td>
<td class="role">analyst</td>
</tr>
<tr class="participant">
<td class="name">Peter Supino</td>
<td class="role">analyst</td>
</tr>
</tbody></table>
</div>
</div>
<div class="card transcript">
<div class="card-header">
<div class="card-title">Call transcript</div>
</div>
<div class="card-body transcript-container">
<div class="speech">
<div class="participant-name">Operator</div>
<div class="content">
<p>Good afternoon. My name is John, and I will be your conference operator today. At this time, I would like to welcome everyone to Live Nation's Third Quarter 2024 Earnings Call. I would now like to turn the call over to Ms. Yong. Thank you, Ms. Yong.</p>
<p>You may begin your conference.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Amy Yong</div>
<div class="content">
<p>Good afternoon, and welcome to the Live Nation's Third Quarter 2024 Earnings Conference Call.</p>
<p>Joining us today is our President and CEO, Michael Rapino, and our President and CFO, Joe Berchtold.
We would like to remind you that this afternoon's call will contain certain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ, including statements related to the company's anticipated financial performance, business prospects, new developments and similar matters. Please refer to Live Nation's SEC filings, including the risk factors and cautionary statements included in the company's most recent filings on Forms 10-K, 10-Q, 8-K for a description of risks and uncertainties that could impact the actual results.
Live Nation will also refer to some non-GAAP measures on this call. In accordance with the SEC Regulation G, Live Nation has provided definitions of these measures and a full reconciliation to the most comparable GAAP measures in our earnings release. The release reconciliation can be found under the Financial Information section on Live Nation's website. With that, I'll turn it over to Joe for brief remarks.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Joe Berchtold</div>
<div class="content">
<p>Thank you, everyone, for joining our quarterly conference call.</p>
<p>I think we'll go right into questions on the release. And as everybody knows, we have our investor presentation coming up Wednesday and then again on Thursday.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Operator</div>
<div class="content">
<p>[Operator Instructions] And the first question comes from the line of Brandon Ross with LightShed Partners.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Brandon Ross</div>
<div class="content">
<p>Thanks for the questions.</p>
<p>First, you gave a lot of very positive forward-looking indicators in the release. I was hoping you could help us think about how that's eventually going to flow through the P&L? And I guess on the Ticketmaster side, it's been a tough year. I assume that outlook on stadiums is going to reverse that trend, but how will that look over Q4, Q1 and next year from a timing perspective? And then on concerts, it was a big margin year. Can that continue next year in addition to the obvious top line growth that the indicators are showing?</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Joe Berchtold</div>
<div class="content">
<p>Thanks, Brandon. This is Joe. I'll start and then Michael can add. Starting with Ticketmaster and starting with Q4.</p>
<p>As we noted for October 1st quarter of the month, Ticketmaster sales were up 15% year-on-year. concerts they're up 23%.</p>
<p>So we're expecting that great stadium and arena pipeline to start to manifest itself in Q4 and deliver a very strong Q4 in Ticketmaster next week alone, we have over 200 stadium and arena shows going on sale.</p>
<p>So we're, I think, in a period of unprecedented level of activity for Ticketmaster in Q4. And then that will continue into Q1 and through next year.</p>
<p>We expect next year's Ticketmaster to look more like a '23 where you've got that great volume of stadium activity that you get with the on sale, but then you also get as it plays off and some of the deferred events that you have in Europe that you recognize as the events play off.</p>
<p>So strong Q4, strong next year for Ticketmaster. Concerts, obviously, next year, expectation is strong for continued AOI growth, having growth in arenas and amphitheaters from our baseline of this year. Added to that, the more like '23 or beyond in stadiums should be very strong revenue growth, very strong AOI growth.</p>
<p>I think it's probably a bit early to know the exact mix of all those venues for margins, but overall, both strong revenue and AOI growth for the concert business.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Brandon Ross</div>
<div class="content">
<p>Okay. And a lot of investors think that Trump is going to be a very good thing for you. I'm sure you've studied it very closely.</p>
<p>Just wanted to hear what your thoughts are on how he's going to approach antitrust and the associated remedies? Do you think they will favor structural or behavioral? And then separately, from a timing perspective, when do you think you'll next have an opportunity to get to the table with the DOJ?</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Joe Berchtold</div>
<div class="content">
<p>Yes.</p>
<p>I think it's still very early in the transition process.</p>
<p>So we're hesitant to say too much. But absolutely, we are hopeful that we'll see a return to the more traditional antitrust approach where the agencies have generally try to find ways to solve problems they see with targeted remedies, that minimize government intervention in the marketplace. And without getting into the specifics, at least some parts of the case, we think, believe reflect much more interventionist philosophy today that you'd expect of a Republican administration. Obviously, the request to break up Live Nation and Ticketmaster would be an example of that highly interventionist approach.</p>
<p>So we'll obviously be ready to engage as soon as they are. They need to get through the appointments and get things settled on their end, but we'd certainly be hopeful that we could start engaging with them early in next year.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Operator</div>
<div class="content">
<p>And the next question comes from the line of David Karnovsky with JPMorgan.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">David Karnovsky</div>
<div class="content">
<p>Just two for me.</p>
<p>First, on the revision to 2023 financials. Can you walk through what triggered that and what the notable changes are? And I didn't see it release, but you have an updated '23 AOI free cash flow. And then second, you called out for Q4 possible mid-teens FX impact to AOI due to LatAm. Can you just refresh us on the general mix LatAm versus other regions in the fourth quarter? And then any early view on how to think about FX on the '25?</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Joe Berchtold</div>
<div class="content">
<p>Sure.</p>
<p>So first, on the revisions of the financials.</p>
<p>So for context, what we had is we had a noncash nonoperating tax adjustment that we had to make. This has to do with when we purchased OCESA and difference between statutory and U.S. GAAP accounting on some nonconsolidated investments so it was just on the U.S. side. We missed -- we paid the taxes in Mexico. We missed it in the U.S. It was not material to our '20 or '23 numbers. But working through with the auditors, we made the decision. It made sense to restate those numbers.</p>
<p>So again, onetime noncash, nonmaterial to those numbers.</p>
<p>In terms of the FX impact, we had previously talked about Q4 this year looking strong in Latin America, which is still does all the operating metrics we've been talking about in terms of both the supply and the demand profile they are looking good. We've also just seen a downturn in the FX on Latin American markets over the past several weeks. And because we had a disproportionate amount of growth in the numbers coming from those markets this fourth quarter, we just wanted to flag that, therefore, that has a disproportionate impact on our AOI and NOI for the quarter. We don't look at it as being material when you step back and you look at the full year '25 and the magnitude of activity that we're going to have. It's more just a Q4 modeling point for people to be aware of, and we'll see how some of the FX plays out over time, and we'll update you. But I don't think it's a material '25 issue at this point. It's really just more at '24, which tends to be our lowest activity.</p>
<p>So when you have your lowest activity quarter and you have where your growth is coming from, get impacted by FX, so that can just start to swing things around.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Operator</div>
<div class="content">
<p>And the next question comes from the line of Stephen Laszczyk with Goldman Sachs.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Stephen Laszczyk</div>
<div class="content">
<p>Two, if I could. Maybe first for Michael, you called out in sponsorship, the number of strategic partners increasing by 20% this year. Curious, looking out the '25, how you would encourage us to think about the sponsorship business next year? Are there any verticals of the business where you see maybe outsized opportunities for execution where you could replicate this performance? And then second for Joe, on the concert segment AOI in 4Q.</p>
<p>You called out some of the on sales coming in over the next couple of weeks here. I'd be curious if you could help us think about how much marketing spend could be associated with those on sales? And maybe any color on just how to think about 4Q concert segment AOI.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Michael Rapino</div>
<div class="content">
<p>Thank you, Stephen.</p>
<p>On the concert -- on the sponsorship side, again, we'll be giving more guidance this week as we get to our Investor Day. But sponsorship has continually been our start for the last decade or so, multiple years of double-digit growth. We look at this business still very, very strong, very different than maybe some of the advertising challenges other companies have. We see overall companies spending more money on site experiential and moving dollars into that segment. And any time that happens, that's good for our business. We tend to rise with that.</p>
<p>So we look at '25 and onward as continual AOI growth that we've been able to deliver in the past in sponsorship.</p>
<p>One of the foundational drivers of that is our globalization. And every time we do more shows around the world, we provide ourselves more opportunity and more sponsors.</p>
<p>So when you're doing all these Latin American shows, when you're doing shows now in India, Middle East, Singapore, Asia, growing our Australian business, it just provides us more and more inventory to open new borders and new relationships.</p>
<p>So as our global pipe continues to grow, so will our sponsorship and we'll see continued growth.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Joe Berchtold</div>
<div class="content">
<p>And Stephen, as it relates to concert in Q4, obviously, Q4 in concerts is a particular beast because in some regards, right, the more we're ramping up for a great next year, the more that impacts our AOI.</p>
<p>So I think as we're standing here, we'd expect a double-digit increase in our advertising expenditure that we have to write off at the end of the year. We're certainly ramping up activity and personnel to be prepared to handle the tremendous volume of shows that we're doing next year. But I think even with all that is we're looking at the numbers now, as -- again, as the broad context, we do expect our margins for the full year in the concert business, the land around where they were in 2019. I'm not going to worry 3 or 4 months from now, plus or minus 10, 15 basis points, but I think that in total, we expect it to come in around where we were in 2019.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Operator</div>
<div class="content">
<p>And the next question comes from the line of Cameron Mansson-Perrone from Morgan Stanley.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Cameron Mansson-Perrone</div>
<div class="content">
<p>On the CapEx increase, I was wondering if you could provide some color on what the pipeline right now looks like for new venue opportunities. And then for the new amp project, anything further on what changed to pull that forward? I'm assuming that was already in the pipeline as of July, and it's more of just a timing consideration, but any color there? And then to follow up on the sponsorship question, Michael. There's been growing the number of partners that are generating over 100 -- or $1 million. Can you talk about -- is that new sponsors? Or is it expanding current or existing relationships? And maybe what's allowing you to execute if it's growing those relationships, what's allowing you to execute so well there?</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Michael Rapino</div>
<div class="content">
<p>A quick on sponsorship.</p>
<p>For a few years, we've been saying any time you can take that regional relationship or that start of that relationship with a large brand form that relationship, deliver for them. We tend to do good at then getting the next time around with the CMO and talking broader programs.</p>
<p>So we continue to grow our current base sponsors. We tend to have a very good renewal rate, and we tend to be able to upgrade you once we've got you into the ecosystem and understand your brand needs.</p>
<p>So most of it is coming from current customer base of our 900 to 1,000 sponsors and growing our current base with them and then obviously expanding outside markets. On real estate, Joe will give you the updates.</p>
<p>We continue to have a great pipeline. We'll take you more details for you this week in terms of what venues are going to be kind of rolling out into '25 onward and the CapEx returns on that.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Joe Berchtold</div>
<div class="content">
<p>Yes. And on the specifics of the CapEx here for the quarter, as you know, we often build buildings in partnership with others.</p>
<p>So this is a situation where we're a partner we've been talking to for an extended period about doing an amphitheater together. That partner has already put a fair bit of capital into the ground. And it was only recently that we then signed a formal agreement by signing the formal agreement, which would give us controlling interest in the amphitheater. We then need to move all the CapEx onto our books.</p>
<p>So you saw the increase of $50 million of expected CapEx for the year, but you also saw a $30 million increase in the capital coming from other parties.</p>
<p>So most of the capital on this project is what a partner has already put into it.</p>
<p>So the net cash that we're putting out is somewhat less than that.</p>
<p>In terms of the new venues, as we noted in the release, we expect to bring 14 more venues online. There was substantial refurbishment or new build over the next year and change through the end of '25, accounting for about $8 million incremental fans.</p>
<p>As Michael noted, we will get into more detail on sort of the mid-range planning on venues over the next couple of days.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Operator</div>
<div class="content">
<p>And the next question comes from the line of Peter Henderson with Bank of America.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Peter Henderson</div>
<div class="content">
<p>Can you provide some color on what initiatives are resonating most with fans and driving up the per caps? And where do you think per caps can go over time? And then just related to that, I mean, how much opportunity remains to implement tiered experiences? And where are you monetizing on super or premium fans the most versus regular or casual fans?</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Michael Rapino</div>
<div class="content">
<p>I'll give a quick shot again. We'll get into more detail this week because those are pretty strategic broad questions.</p>
<p>On the premium fan or super fan, I know I hear other companies talk about it. We've been selling to the super fan for quite a while called that the premium fan that wants a VIP experience at the show.</p>
<p>So that's kind of been an ongoing skill set we've had forever.</p>
<p>Our job every year as we see that pie still under serviced. We've used percentages in the past, 2%, 4%, 6% of the show is premium. We think it can grow up to 20% and more.</p>
<p>So a lot of the refurbishments we're doing at venues is about taking regular seats to turn them into better experiences for premium experiences at night.</p>
<p>So we think premium experiences is a big underpin to our entire growth forward because it's using the same customer base, but we always sell out of the boxes, sell out of the premium inventory.</p>
<p>First, we never have a problem selling that.</p>
<p>So we think that is a big part of our CapEx and our refurbish as well as our new buildings when we're building them. We're starting with this mandate that they must have a certain higher percentage of premium seats and lounges and experiences.</p>
<p>So those venues start with a much better return.</p>
<p>First question -- shoot again the first question.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Peter Henderson</div>
<div class="content">
<p>Just where do you think -- what initiatives are sort of resonating most of the fans and driving up our caps and where do you think per caps can go over time?</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Michael Rapino</div>
<div class="content">
<p>Most of it is -- I've said this before, sports, these new venues, the $1 billion arenas have done a fabulous job, the stadium, the SoFi Stadium. They've all kind of -- we're all following the same playbook. We all probably started in a very traditional food and beverage offering, whether it was the old forum here in L.A. versus the new [ Intuit Dome ], it's night and day, and most of it is around having more POS. It's around having different high-end value offerings in the -- in your food and beverage bundle to about having mocktails, non-alcoholic options, higher-level food versus the traditional food.</p>
<p>So that's the ongoing path we see in our amphitheaters, our theaters, our arenas. We've been using this $2 per head growth over the last few years. We think that some -- in the future we can continue on.</p>
<p>So it's all around upgrading our current customer base, our [ amps, ] our venues probably are the lower end of good, great quality F&B for historic measures.</p>
<p>So every year, it's about upgrading that amount of POS offering, upgrading our selection increasing our premium offering. And all of that combination, we think still has lots of runway left.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Operator</div>
<div class="content">
<p>And the next question comes from the line of David Katz with Jefferies.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">David Katz</div>
<div class="content">
<p>Number one, past week or so has brought quite a bit of change. I'm wondering if your thoughts have started to shift or philosophy start to shift around M&A given sort of the change over the past week? And then I have one quick follow-up, please.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Michael Rapino</div>
<div class="content">
<p>No, we haven't -- nothing's really changed in the last couple of years the way we've been moving around the world and building our business. We don't have any sizable M&A targets that we would do with or without where the regulation stands in America. We like kind of what we're doing.</p>
<p>You see us add an arena in Austin, add amphitheaters in some white space or a 5,000 seat and similar around the world. We're always kind of looking in these 100 cities that are out there that want great entertainment and whether it's amphitheaters or a festival or a promoter, we like bolting those on, and we have a big pipe of those around the world. Nothing has changed over the last 2 years and I don't think any changes going forward.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">David Katz</div>
<div class="content">
<p>Okay. Understood. And I just wanted to ask a more general question about the secondary ticketing market, which I recognize is a smaller part and in some sense a strategic portion of kind of what you do. But it seems as though every time we have something like a World Series and ticket prices get high, it just draws a tremendous amount of attention that sometimes seems a bit misplaced toward you as the biggest. Are there any strategies or -- and maybe this is not the best forum to talk about them, but it's just something that comes to mind that we've written about a bit and I thought I would raise it and see if there's any answer that's appropriate here.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Michael Rapino</div>
<div class="content">
<p>Much broader statement, but yes, we are always a little amused that sports is kind of a badge of honor how expensive those tickets go for, but music, which is price much lower than sports seems to get more of the emotional reaction. But America seems to be a market where secondary is free to run. We hope there's always been this spoke between different legislators. We get better regulation around secondary hasn't really come to life yet around at minimum at least bots and spec selling and some of the other practices around secondary that we'd like to clean up.</p>
<p>So we hope over time, it seems to be more and more attention around the secondary market.</p>
<p>So we hope over time, better regulations get put in place to help the consumer.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Operator</div>
<div class="content">
<p>And the final question comes from the line of Peter Supino with Wolfe Research.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Peter Supino</div>
<div class="content">
<p>A question about Ticketmaster. With all the activism that the DOJ, a question that we've heard a lot in the last year has related to the defensibility of Ticketmaster's competitive position. And one of the pillars of that is technology.</p>
<p>And so I wondered if you could just comment on the investments that Ticketmaster is making in technology, whether it relates to bots or demand generation or other initiatives that you think are the most important ways Ticketmaster is reinforcing and extending its competitive position technologically.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Joe Berchtold</div>
<div class="content">
<p>Sure. Yes. And Peter, as you know, we spend tens of millions of dollars in capital on Ticketmaster.</p>
<p>I think first and foremost, we continue to innovate the products that we offer to on the enterprise side to our venues, to promoters, others who use the platform past recent years, that's included a lot around pricing technology to help everybody understand the market value of the content they're delivering. Certainly also is on the marketing side, developing great marketing science capabilities to help people market their shows, big investments over the past couple of years on continuing to enhance our ability to handle that high demand on sale. We think Ticketmaster is the best in the world and seen a number of own sales recently where Ticketmaster has been able to deliver a much better experience and sell tickets at a volume that others have been unable to handle. And then obviously, also just on the ticket itself, all the things that we've done around digital tickets and as you said, trying to stop at.</p>
<p>So range of consumer-facing technologies as well.</p>
<p>We expect it's ongoing, right? The investor is a technology company.</p>
<p>So you're going to continue to be developing products on both an enterprise and a marketplace basis.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Operator</div>
<div class="content">
<p>And at this time, there are no further questions.</p>
<p>Now I'd like to pass the call back over to the Live Nation management team for closing remarks.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Michael Rapino</div>
<div class="content">
<p>Thank you, everybody, and look forward to talking more about our business this week.</p>
</div>
</div>
<div class="speech">
<div class="participant-name">Operator</div>
<div class="content">
<p>And ladies and gentlemen, that does conclude today's teleconference.</p>
<p>You may disconnect your lines at this time. Thank you for your participation.</p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<footer class="footer">
<div class="container">
<div class="row py-5">
<div class="col-12 col-lg-auto">
<a href="https://finsight.com" target="_blank" rel="noopener" class="no-icon mb-5 mb-lg-0">
<img src="/img/finsight.svg" alt="Finsight">
</a>
</div>
<div class="col-12 col-lg-auto ml-lg-auto">
<div class="row">
<div class="col">
<div class="link-title">Resources</div>
<ul class="list-unstyled">
<li><a href="https://help.capedge.com/" target="_blank">Knowledgebase</a></li>
<li>
<form action="/user/logout" method="post">
<button type="submit" class="btn btn-link">Logout</button>
</form>
</li>
</ul>
</div>
<div class="col">
<div class="link-title">Company</div>
<ul class="list-unstyled">
<li><a href="https://finsight.com/about" target="_blank" rel="noopener">About</a></li>
<li><a href="https://finsight.com/contact-us" target="_blank" rel="noopener">Contact</a></li>
<li><a href="https://finsight.com/our-solutions" target="_blank" rel="noopener">Solutions</a></li>
</ul>
</div>
<div class="col">
<div class="link-title">Products</div>
<ul class="list-unstyled">
<li><a href="https://dealroadshow.finsight.com/" target="_blank" rel="noopener">Deal Roadshow</a></li>
<li><a href="https://dealvdr.com/" target="_blank" rel="noopener">DealVDR</a></li>
<li><a href="https://evercall.co/" target="_blank" rel="noopener">Evercall</a></li>
<li><a href="https://finsight.com/" target="_blank" rel="noopener">Finsight.com</a></li>
</ul>
</div>
<div class="col">
<div class="link-title">CapEdge</div>
<ul class="list-unstyled">
<li><a href="/earnings-calendar">Earnings Calendar</a></li>
<li><a href="/transcript/by/companyId/all">Earnings Transcripts</a></li>
<li><a href="/search?q=">EDGAR Filing Screener</a></li>
<li><a href="/ipo-calendar">IPO Calendar</a></li>
</ul>
</div>
</div>
</div>
</div>
</div>
<div class="footer-bottom">
<div class="container">
<div class="row align-items-center">
<div class="col-12 col-lg-auto">
<ul class="list-inline mb-0">
<li class="list-inline-item"><a href="https://finsight.com/compliance" target="_blank" rel="noopener">Compliance</a></li>
<li class="list-inline-item"><a href="https://finsight.com/privacy-policy" target="_blank" rel="noopener">Privacy</a></li>
<li class="list-inline-item"><a href="https://finsight.com/security-policy" target="_blank" rel="noopener">Security</a></li>
<li class="list-inline-item"><a href="https://finsight.com/terms-of-use" target="_blank" rel="noopener">Terms</a></li>
</ul>
</div>
<div class="col footer-icons text-lg-right">
<a href="https://angel.co/company/finsight-group" target="_blank" rel="noopener" class="no-icon">
<img src="/img/angel.svg" alt="AngelList">
</a>
<a href="https://www.linkedin.com/company/finsight/" target="_blank" rel="noopener" class="no-icon">
<img src="/img/linkedin.svg" alt="LinkedIn">
</a>
</div>
</div>
</div>
</div>
</footer>
</div>
<div class="cookiesBanner_container cookiesBanner_container__visible">
<i class="cookiesBanner_close">
<svg width="16" height="16" viewBox="0 0 16 16" xmlns="http://www.w3.org/2000/svg">
<path d="M8.58719 7.3231C8.93627 7.67218 8.93627 8.23816 8.58719 8.58724C8.2381 8.93633 7.67213 8.93633 7.32304 8.58724L0.261813 1.52597C-0.0872709 1.17689 -0.0872709 0.61091 0.261813 0.261825C0.610896 -0.0872605 1.17687 -0.0872605 1.52596 0.261825L8.58719 7.3231Z"></path><path d="M1.52595 15.7382C1.17687 16.0873 0.610892 16.0873 0.261808 15.7382C-0.087275 15.3891 -0.0872754 14.8231 0.261808 14.474L7.32304 7.41277C7.67212 7.06368 8.2381 7.06368 8.58718 7.41276C8.93626 7.76185 8.93626 8.32783 8.58718 8.67691L1.52595 15.7382Z"></path><path d="M7.4128 8.6769C7.06372 8.32782 7.06372 7.76184 7.4128 7.41275C7.76189 7.06367 8.32786 7.06367 8.67695 7.41275L15.7382 14.474C16.0873 14.8231 16.0873 15.3891 15.7382 15.7382C15.3891 16.0873 14.8231 16.0873 14.474 15.7382L7.4128 8.6769Z"></path><path d="M14.474 0.261814C14.8231 -0.0872713 15.3891 -0.0872713 15.7382 0.261814C16.0873 0.610899 16.0873 1.17688 15.7382 1.52596L8.67695 8.58723C8.32787 8.93632 7.76189 8.93632 7.41281 8.58723C7.06373 8.23815 7.06373 7.67217 7.41281 7.32309L14.474 0.261814Z"></path>
</svg>
</i>
<div class="cookiesBanner_content">
<p class="cookiesBanner_text">
We use cookies on this site to provide a more responsive and personalized service. Continuing to browse, clicking I Agree, or closing this banner indicates agreement. See our <a class="cookiesBanner_cookiesBannerLink__dvqOM" href="https://finsight.com/privacy-policy#cookiesPolicy" target="_blank">Cookie Policy</a> for more information.
</p>
<button type="button" class="cookiesBanner_btn btn btn-primary">I Agree</button>
</div>
</div>
<div class="modal fade" id="modalAddFavourite" tabindex="-1" role="dialog" aria-hidden="true">
<div class="modal-dialog" role="document">
<div class="modal-content">
<div class="modal-header">
<h3 class="modal-title">Add favorites</h3>
<button type="button" class="close" data-dismiss="modal" aria-label="Close"></button>
</div>
<div class="modal-body">
<ul class="nav nav-tabs" id="faveTabs" role="tablist">
<li class="nav-item">
<a class="nav-link active" id="manual-tab" data-toggle="tab" href="#manual" role="tab" aria-controls="manual" aria-selected="true">Choose</a>
</li>
<li class="nav-item">
<a class="nav-link" id="upload-tab" data-toggle="tab" href="#upload" role="tab" aria-controls="upload" aria-selected="false">Upload list</a>
</li>
</ul>
<div class="tab-content mt-3 pt-2" id="faveTabContent">
<div class="tab-pane fade show active" id="manual" role="tabpanel" aria-labelledby="manual-tab">
<form method="post" action="/user/batch-fave" spellcheck="false" autocomplete="off" id="batch-favorite-form">
<input type="hidden" name="referrer" value="">
<p>Type tickers, company names, or new folder names to organize your favorites.</p>
<div class="tokenInput tokeninput-container fake-input fake-input-lg">
<input type="text" placeholder="Ticker, company name, or new folder name…" name="favourites" autocomplete="off" autocorrect="off" autocapitalize="off" autofocus="on" size="42">
<script class="tokeninput-data" type="application/json">
{
"resultDataProp":"companies",
"resultTextProp":"name",
"resultValueProp":"companyId",
"url":"/search/company?needsXbrl=false&active=true&num=5&allowMultiple=true&q=$query",
"values":[],
"type":"lookup",
"completionGroups" : {
"companies" : { "heading" : "Companies", "newOption" : false, "singular" : "company" },
"folders" : { "heading" : "Folder", "newOption" : true, "singular" : "folder" }
}
}
</script>
</div>
<div class="d-flex mt-6 justify-content-between">
<button type="submit" class="btn btn-primary">Add favorites</button>
<button type="button" class="btn btn-link d-none d-md-inline-block" data-dismiss="modal">Cancel</button>
</div>
</form>
</div>
<div class="tab-pane fade" id="upload" role="tabpanel" aria-labelledby="upload-tab">
<div id="fave-upload-container">
<form method="post" action="/user/add-from-favorite-file">
<div class="not-uploaded">
<p>
Upload a CSV, TSV or Excel file of favorites to add (max 5 MB). We'll try to detect columns of tickers, company names, CIKs or CUSIPs. It doesn't
matter if the file has a header row or not, what order the columns are in, or if you include additional columns that are exported from another system.
</p>
<p>
If you want to organize your favorites into folders, then include a header row, with a column named <strong>Folder</strong> to
specify a folder for each favorite, e.g. (in this example, the name column is optional):
</p><pre> Name,Ticker,Folder
Apple Inc,AAPL,Watchlist
Tesla Inc,TSLA,Watchlist
Microsoft Inc,MSFT,Portfolio</pre>
<p></p>
<p>
If you want to upload a list of favorite searches, then include a header row, with a <strong>Name</strong> column for the search
terms, and a <strong>Type</strong> column with the value <em>search</em>, along with an optional <strong>Folder</strong> column e.g.
</p><pre> Type,Folder,Name
search,Future Tech,bitcoin OR cryptocurrency
search,Future Tech,S-1 drones
search,Green Energy,TSLA "renewable energy"</pre>
<p></p>
</div>
<div class="uploaded-only">
<table id="matched-upload-table" class="table table-sm">
<thead>
<tr>
<th></th>
<th colspan="2" class="uploaded-count">Uploaded</th>
<th colspan="2" class="matched-count">Matched</th>
<th class="folder-only">Folder</th>
</tr>
</thead>
<tbody></tbody>
</table>
<input type="hidden" name="uploadData" id="upload-data" value="">
<div class="mt-5 p-3 bg-blue-lightest">
<h6>Important:</h6>
<div class="form-check">
<input class="form-check-input" type="radio" name="actionExisting" id="actionExistingAdd" value="add" checked="">
<label class="form-check-label" for="actionExistingAdd">Add to existing favorites</label>
</div>
<div class="form-check">
<input class="form-check-input" type="radio" name="actionExisting" id="actionExistingReplace" value="replace">
<label class="form-check-label" for="actionExistingReplace">Remove existing favorites that are not in this list</label>
</div>
</div>
</div>
<div class="d-flex mt-6 justify-content-between">
<label class="btn btn-primary not-uploaded" for="upload-faves" id="upload-fave-button">
Upload favorites list…
<input type="file" id="upload-faves" class="d-none" name="files">
</label>
<button type="submit" class="btn btn-primary uploaded-only">Add selected favorites</button>
<button type="button" class="btn btn-link d-none d-md-inline-block" data-dismiss="modal">Cancel</button>
</div>
</form>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<div class="modal fade" id="modalRenameFolder" tabindex="-1" role="dialog" aria-hidden="true">
<div class="modal-dialog" role="document">
<div class="modal-content">
<div class="modal-header">
<h3 class="modal-title">Rename folder</h3>
<button type="button" class="close" data-dismiss="modal" aria-label="Close"></button>
</div>
<form method="post" action="/user/rename-fave" spellcheck="false" autocomplete="off">
<div class="modal-body">
<input type="text" class="form-control" placeholder="Type new folder name…" name="documentSpecifier" autocomplete="off" autocorrect="off" autocapitalize="off" autofocus="on" pattern="[^<>]+">
<input type="hidden" name="documentId" value="">
</div>
<div class="modal-footer">
<button type="button" class="btn btn-link" data-dismiss="modal">Cancel</button>
<button type="submit" class="btn btn-primary">Rename</button>
</div>
</form>
</div>
</div>
</div>
<div class="modal fade" id="modalAlertSettings" tabindex="-1" role="dialog" aria-hidden="true">
<div class="modal-dialog" role="document">
<div class="modal-content">
<div class="modal-header">
<h3 class="modal-title">Alert feed settings</h3>
<button type="button" class="close" data-dismiss="modal" aria-label="Close"></button>
</div>
<form method="post" action="/user/settings" autocomplete="off" id="alert-settings-form" class="no-reset-on-close">
<div class="modal-body">
<p>Choose the information that appears in your CapEdge alert feed. You'll see alerts for information that matches your favorite companies.</p>
<div class="custom-controls-stacked mt-3">
<div class="form-group">
<label class="custom-switch pl-0">
<input type="checkbox" name="settings[alertTypes][]" value="ldb" class="custom-switch-input" checked="checked">
<span class="custom-switch-indicator"></span>
<span class="custom-switch-description">Filings</span>
</label>
<div class="pl-7 text-muted">New filings from SEC.</div>
</div>
<div class="form-group">
<label class="custom-switch pl-0">
<input type="checkbox" name="settings[alertTypes][]" value="news" class="custom-switch-input" checked="checked">
<span class="custom-switch-indicator"></span>
<span class="custom-switch-description">News</span>
</label>
<div class="pl-7 text-muted">Full news stories, breaking headlines, and press releases.</div>
</div>
<div class="form-group">
<label class="custom-switch pl-0">
<input type="checkbox" name="settings[alertTypes][]" value="social" class="custom-switch-input" checked="checked">
<span class="custom-switch-indicator"></span>
<span class="custom-switch-description">Social</span>
</label>
<div class="pl-7 text-muted">Message threads from Reddit.</div>
</div>
<div class="form-group">
<label class="custom-switch pl-0">
<input type="checkbox" name="settings[alertTypes][]" value="user" class="custom-switch-input" checked="checked">
<span class="custom-switch-indicator"></span>
<span class="custom-switch-description">Community content</span>
</label>
<div class="pl-7 text-muted">New community notes and annotations.</div>
</div>
</div>
</div>
<div class="modal-footer">
<button type="button" class="btn btn-link" data-dismiss="modal">Cancel</button>
<button type="submit" class="btn btn-primary">Update alerts feed settings</button>
</div>
</form>
</div>
</div>
</div>
<div class="modal fade" id="modalSendToNote" tabindex="-1" role="dialog" aria-hidden="true">
<div class="modal-dialog" role="document">
<div class="modal-content">
<div class="modal-header">
<h3 class="modal-title">Add to note</h3>
<button type="button" class="close" data-dismiss="modal" aria-label="Close"></button>
</div>
<form method="post" action="#" class="no-disable" spellcheck="false" autocomplete="off">
<div class="modal-body">
<p>The following content will be added to your chosen note:</p>
<div id="fragment-preview" class="my-3 text-muted"></div>
<p>Search or choose a recent note below:</p>
<div class="tokenInput tokeninput-container fake-input fake-input-lg">
<input type="text" placeholder="Search your note titles…" name="noteSearch" autocomplete="off" autocorrect="off" autocapitalize="off" tabindex="1" autofocus="on" size="25">
<script class="tokeninput-data" type="application/json">
{
"resultDataProp":"results",
"resultTextProp":"title",
"resultValueProp":"id",
"url":"/note/notesearch?limit=3&query=$query",
"type":"lookup",
"completionGroups" : {
"bestmatch" : { "heading" : "Best Match" },
"notes" : { "heading" : "Notes", "newOption" : true, "singular" : "note" }
}
}
</script>
</div>
<div id="send-recent-list"></div>
</div>
<div class="modal-footer">
<button type="button" class="btn btn-link" data-dismiss="modal" tabindex="2">Cancel</button>
</div>
</form>
</div>
</div>
</div>
<div class="dropdown-menu dropdown-menu-sm" id="user-feed-context-menu">
<a class="dropdown-item context-open" href="#">Open</a>
<a class="dropdown-item context-open" href="#" target="_blank">Open in new tab</a>
<div class="dropdown-divider"></div>
<a class="dropdown-item context-delete" href="#">Delete</a>
</div>
<div style="display:none" id="google-id" data-id="G-REPSH58KSM,UA-113590965-4"></div>
<div style="display:none" id="google-tag-id" data-id="GTM-5KBPWNG"></div>
<noscript><iframe src="https://www.googletagmanager.com/ns.html?id=GTM-5KBPWNG" height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript>
<script src="https://www.google.com/recaptcha/api.js" async="" defer=""></script>
<script type="application/json" id="user-data">{"id":"665437da02f04742ce51dd52","loggedIn":true,"settings":{"emailNewFilings":false,"emailSearches":true,"emailCommunityContent":true,"emailProductUpdates":true,"enableAnnotations":true,"enableReadCheckbox":false,"subscribedEmailFilingGroups":["financial","news","registration","proxy","other","ownership"],"subscribedEmailFilingTypes":[],"subscribedCommunityNotifications":["repliesToMine","newOnAnnotated"],"periodicEmailSchedule":"never","stockChartComparison":true,"stockChartPeriod":"1m","toggleFavouritescol":false,"toggleNotescol":true,"toggleAlertscol":true,"collapsedFolders":[],"collapsedCards":[],"annotationsPublic":false,"disableEmailNotes":false,"hideNextSteps":false,"alertTypes":["ldb","news","social","user"],"emailSearchesSchedule":"realtime","folderSettings":[]},"plan":"free"}</script>
<script type="application/json" id="init-data">{"annotationDocumentRoot":".transcript-container","annotationDocumentType":"transcript","annotationDocumentId":"LYV_3407698","annotationCompanyId":1335258}</script>
<script src="/js/dist/initial.js?v=20241112T075812"></script>
<script src="/js/dist/build.js?v=20241112T075812" defer=""></script>
<script src="/js/dist/annotator.js?v=20241112T075812" defer=""></script>
<script async="" src="/js/dist/annotator-frame.js"></script><div class="annotator-adder" style="display: none;"><button type="button" class="sendTo">Add to note</button><button type="button" class="create">Annotate</button></div></body></html>