At a glance
Live Nation Entertainment Inc is worth $41.74B. Revenue grew 8.8% to $25.20B in fiscal 2025, with 2.0% kept as profit; over 5 years it has grown 68.4% a year. It pays no dividend; it spent $23.5M buying back its shares over FY2021–FY2025. The stock returned +18.5% over the past year with dividends reinvested and +10.7% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 61.2% in the 2020 crash (S&P 500: 33.7%) and 41.5% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 10 months and 26 months after the lows.
The business in plain English
Live Nation Entertainment describes itself as the world's largest live entertainment company. It promotes concerts, runs venues and festivals, manages artists and sells tickets through Ticketmaster. In 2025 it connected 159 million fans to more than 11,000 artists at about 55,000 events, and it produced 131 festivals. It owns, operates, books or holds a stake in 460 venues, from House of Blues clubs to the Ziggo Dome in Amsterdam.
Concerts is the biggest segment. It brought in about $20.9 billion, or 83%, of $25.2 billion in 2025 revenue. A promoter is the company that organizes and markets a show. As promoter, Live Nation collects ticket money and pays the artist. That payment is often a fixed guarantee agreed months before the tour. Venues it runs also bring in food, drink, parking and merchandise sales. The company says it invests nearly $15 billion a year in artist performances, and artists receive the majority of ticket revenue.
Ticketing brought in about $3.1 billion (12%). Ticketmaster distributed 646 million tickets in 2025 for about 10,500 clients, including arenas, stadiums, sports teams and theaters. It earns a fixed fee per ticket or a share of service charges, but venues set those fees and keep most of them. Sponsorship and advertising brought in about $1.3 billion (5%). It sells naming rights, signage and online ads to more than 1,500 brands, such as Citibank and Mastercard.
Price history
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LYV +18.5% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Concerts | $20.86B | 82.8% |
| Ticketing | $3.08B | 12.2% |
| Sponsorship and Advertising | $1.33B | 5.3% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $7.67B, up 9.4% from a year earlier, and net income was $294.4M (+21.0%).
- For fiscal 2025, revenue was $25.20B (+8.8% year over year; +68.4% a year from FY2020 to FY2025) with a 2% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +68.4% good |
|---|---|
| Operating margin | 5% watch |
| Free cash flow margin | 1.3% watch |
| Return on equity (FY2025) | 183% (lifted by a small equity base, often the result of years of buybacks) good |
| Return on assets (FY2025) | 2.2% weak |
| Net cash (cash minus debt) | $-129.5M watch |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $1.86B | $-1.72B | $-1.30B |
| FY2021 | $6.27B | $-650.9M | $1.63B |
| FY2022 | $16.68B | $266.4M | $1.49B |
| FY2023 | $22.73B | $556.9M | $924.4M |
| FY2024 | $23.16B | $896.3M | $1.08B |
| FY2025 | $25.20B | $496.0M | $333.6M |
Valuation snapshot
| Market value | $41.74B |
|---|---|
| P/E ratio | — |
| Dividend yield | None |
Rank among 1514 US companies
Market value at each year end
Live Nation Entertainment’s market value went from $5.41B at the end of 2016 to $41.74B on Nov 2, 2026, about 7.7 times as much; since the end of 2025 it is up 25%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $41.74B | +24.8% |
| 2025 | $33.45B | +11.2% |
| 2024 | $30.09B | +39.6% |
| 2023 | $21.56B | +33.9% |
| 2022 | $16.10B | -40.1% |
| 2021 | $26.89B | +68.5% |
| 2020 | $15.95B | +4.4% |
| 2019 | $15.27B | +48.0% |
| 2018 | $10.32B | +17.2% |
| 2017 | $8.80B | +62.7% |
| 2016 | $5.41B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| LYV price data to Nov 2, 2026 | +24.3% | +18.5% | +29.0% | +10.7% | +20.8% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +24.3% |
| 2025 | +10.0% |
| 2024 | +38.4% |
| 2023 | +34.2% |
| 2022 | -41.7% |
| 2021 | +62.9% |
| 2020 | +2.8% |
| 2019 | +45.1% |
| 2018 | +15.7% |
| 2017 | +60.0% |
| 2016 | +8.3% |
| 2015 | -5.9% |
| 2014 | +32.1% |
| 2013 | +112.2% |
| 2012 | +12.0% |
| 2011 | -27.2% |
| 2010 | +34.2% |
| 2009 | +48.3% |
| 2008 | -60.5% |
| 2007 | -35.2% |
| 2006 | +71.0% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 88.4% over that stretch · deepest drop along the way 88.5%, back to its old high 59.8 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 50.9% over that stretch · deepest drop along the way 61.2%, back to its old high 10.1 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 36.2% over that stretch · deepest drop along the way 41.5%, back to its old high 25.6 months after the low |
Insider activity
Form 4 filings from 2025-10-27 to 2026-10-27 (25 read): 0 open-market purchases and 2 sales ($904K).
| Date | Insider | Type | Value |
|---|---|---|---|
| Aug 24, 2026 | Brian Capo Chief Accounting Officer | sell | $534K |
| Jun 15, 2026 | Jeffrey T. Hinson Director | sell | $370K |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 5.13% | Mar 31, 2026 |
| BlackRock, Inc. | 5.1% | Jun 30, 2025 |
| STATE STREET CORPORATION | 4.8% | Jun 30, 2026 |
| Select Equity Group, L.P. | 3.6% | Dec 31, 2024 |
ETFs with the most weight in LYV
| MUSQ MUSQ Global Music Industry Index ETF | 9.46% |
| RSPC Invesco S&P 500 Equal Weight Communication Services ETF | 4.95% |
| XLC Communication Services Select Sector SPDR Fund | 4.72% |
| NUMG Nuveen ESG Mid-Cap Growth ETF | 2.66% |
| FTGS First Trust Growth Strength ETF | 2.14% |
| BMVP Invesco Bloomberg MVP Multi-factor ETF | 1.87% |
| RPG Invesco S&P 500® Pure Growth ETF | 1.83% |
| TMFX Motley Fool Next Index ETF | 1.81% |
What could go wrong
- A small pool of headline artists. Only a limited number of artists can headline a major global tour or sell out large venues. If they stop touring, or Live Nation fails to win their tours, concert revenue suffers.
- Guarantees paid before tickets sell. Tours are booked four to eight months ahead, often with a fixed payment promised to the artist. If fans don't buy or a tour is canceled, Live Nation can lose money. Insurance covers only part.
- Holding on to Ticketmaster's clients. Ticketing contracts typically run three to five years. In a fiercely competitive market, Live Nation must keep renewing deals with venues, teams and promoters on acceptable terms. Losing major clients would cut fee revenue.
- Heavy debt and very thin equity. As of June 30, 2026, total debt was $9.2 billion, against $9.1 billion of cash and investments. Shareholders' equity was only $82 million. Loan terms limit what management can do.
- Pandemics and other shocks can halt shows. Terrorist attacks or disease outbreaks can stop live events. In pandemic-hit 2020, revenue was $1.9 billion and the net loss was $1.7 billion. Revenue in 2025 was $25.2 billion.
- Lawsuits, regulation and antitrust rules. Live Nation faces extensive government rules and legal proceedings. Bad court outcomes could raise costs. So could antitrust and competition rules that affect deals it pursues, and they could limit how the business grows.
Recent events
- Major agreement signed; New debt or financial obligation
- Other company announcement
- Executive or board change
- Executive or board change; Other company announcement
- Quarterly results released
- Shareholder vote results
- Major agreement signed; New debt or financial obligation
- Quarterly results released
- Quarterly results released
- Quarterly results released
For income and retirement investors
Live Nation does not pay a dividend and paid none from fiscal 2021 through 2025, so holding the shares produces no income. Any return comes from the share price, and a retiree who needs cash would have to sell shares. Buybacks, where a company repurchases its own stock, have been small: about $24 million over fiscal 2021–2025, all of it in 2025. The share count still rose 7.6%, from about 219 million in July 2021 to about 236 million in July 2026.
The stock has fallen hard in downturns. It dropped 88.5% between October 2007 and March 2009 and did not regain its 2007 peak until February 2014. In the 2020 COVID crash it fell 61.2% in about a month, then regained its peak by January 2021. In 2022 it fell 41.5% and did not recover until November 2024. A single stock carries more risk than a diversified fund that spreads money across many companies.
Questions investors ask
How does Live Nation make money?
Mostly by promoting concerts. In 2025 the Concerts segment brought in about $20.9 billion, or 83% of $25.2 billion in total revenue. That money came from ticket sales and from food, drinks, parking and merchandise at venues it runs. Ticketing, mainly Ticketmaster's fees, added about $3.1 billion (12%). Sponsorship and advertising, such as venue naming rights and signage, added about $1.3 billion (5%). Artists receive the majority of ticket revenue. The operating margin, the share of revenue left after operating costs, was about 5%.
Does Live Nation own Ticketmaster?
Yes. Ticketmaster is Live Nation's ticketing business, and the Ticketing segment brought in about $3.1 billion of revenue in 2025. Ticketmaster distributed 646 million tickets that year for about 10,500 clients, including arenas, stadiums, festival promoters, sports teams, colleges, theaters and museums. It generally earns a fixed fee per ticket or a share of service charges. Venues set those fees and typically keep most of them. Ticketmaster collects buyers' money at the sale and later passes it on to venues and promoters, minus its fee.
Does Live Nation pay a dividend?
No. Live Nation paid no dividends from fiscal 2021 through 2025, so the stock provides no regular income. Any return comes from the share price. Buybacks, where a company repurchases its own shares, were small: about $24 million over those five years, all in 2025. The company's market value was about $40.6 billion as of October 28, 2026. The share count rose 7.6% between July 2021 and July 2026, so ownership is spread across more shares.
Is Live Nation profitable?
Yes, but margins are thin. In 2025 net income was about $496 million on $25.2 billion of revenue, a net margin of about 2%. That was down 44.7% from 2024. Diluted earnings per share was a loss of $0.24. Headline net income can include profit that belongs to partners in jointly owned businesses rather than to common shareholders. Free cash flow, the cash left after capital spending, was about $334 million. In the quarter ended June 30, 2026, net income rose 21% from a year earlier to about $294 million.
How has Live Nation stock performed over the long term?
It has risen over long periods, with deep drops along the way. As of October 28, 2026, the share price had gained 14.2% over one year. It gained an average of 11.4% a year over five years and 20.2% a year over ten years, a total of 529% for the decade. These are price returns only, because there is no dividend to add. The stock lost 41.7% in calendar 2022. Its worst fall from a peak in about 21 years of trading was 89.9%. Past returns don't predict future ones.