Live Nation Entertainment (LYV) 10-Q 2 Nov 23 2023 Q3 Quarterly report Financial data

DOCUMENT

DOCUMENT - shares	9 Months Ended
	Sep. 30, 2023	Oct. 26, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-32601
Entity Registrant Name	LIVE NATION ENTERTAINMENT, INC.
Entity Central Index Key	0001335258
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-3247759
Entity Address, Address Line One	9348 Civic Center Drive
Entity Address, City or Town	Beverly Hills
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90210
City Area Code	310
Local Phone Number	867-7000
Title of 12(b) Security	Common stock, $.01 Par Value Per Share
Trading Symbol	LYV
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		230,325,360

CONSOLIDATED BALANCE SHEETS (UN

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 5,948,511	$ 5,606,457
Accounts receivable, less allowance of $71,553 and $63,294, respectively	2,503,135	1,465,383
Prepaid expenses	1,424,561	949,826
Restricted cash	6,851	5,917
Other current assets	123,620	131,939
Total current assets	10,006,678	8,159,522
Property, plant and equipment, net	1,955,906	1,487,663
Operating lease assets	1,594,093	1,571,395
Intangible assets
Definite-lived intangible assets, net	1,123,151	1,050,622
Indefinite-lived intangible assets, net	376,964	368,712
Goodwill	2,653,526	2,529,380
Long-term advances	510,633	568,558
Other long-term assets	919,622	724,989
Total assets	19,140,573	16,460,841
Current liabilities
Accounts payable, client accounts	1,742,004	1,791,025
Accounts payable	276,982	180,076
Accrued expenses	3,315,483	2,368,434
Deferred revenue	3,083,668	3,134,800
Current portion of long-term debt, net	50,609	620,032
Current portion of operating lease liabilities	150,304	140,232
Other current liabilities	132,471	68,716
Total current liabilities	8,751,521	8,303,315
Long-term debt, net	6,546,061	5,283,467
Long-term operating lease liabilities	1,673,750	1,654,525
Other long-term liabilities	468,504	455,971
Commitments and contingent liabilities
Redeemable noncontrolling interests	835,768	669,766
Stockholders' equity
Common stock	2,293	2,285
Additional paid-in capital	2,411,302	2,698,316
Accumulated deficit	(2,197,221)	(2,971,229)
Cost of shares held in treasury	(6,865)	(6,865)
Accumulated other comprehensive income (loss)	12,242	(90,076)
Total Live Nation stockholders' equity	221,751	(367,569)
Noncontrolling interests	643,218	461,366
Total equity	864,969	93,797
Total liabilities and equity	$ 19,140,573	$ 16,460,841

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets
Allowance for doubtful accounts	$ 71,553	$ 63,294

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenue	$ 8,152,019	$ 6,153,535	$ 16,910,132	$ 12,390,517
Operating expenses:
Direct operating expenses	6,330,465	4,707,848	12,610,832	9,045,893
Selling, general and administrative expenses	974,150	805,910	2,533,066	2,048,305
Depreciation and amortization	130,653	102,093	382,352	318,489
Gain (Loss) on Disposition of Other Assets	1,583	35,285	8,092	32,555
Corporate expenses	99,802	66,720	244,295	158,377
Operating income	618,532	506,249	1,147,679	852,008
Interest expense	86,215	70,514	257,425	205,722
Loss on extinguishment of debt	0	0	18,366	0
Interest income	(78,107)	(25,809)	(174,872)	(46,565)
Equity in losses (earnings) of nonconsolidated affiliates	(5,382)	14,283	(15,047)	8,040
Other expense, net	19,251	7,960	24,235	22,398
Income before income taxes	596,555	439,301	1,037,572	662,413
Income tax expense	55,874	41,898	121,362	85,589
Net income	540,681	397,403	916,210	576,824
Net income attributable to noncontrolling interests	57,186	36,001	142,202	77,804
Net income attributable to common stockholders of Live Nation	$ 483,495	$ 361,402	$ 774,008	$ 499,020
Basic net income per common share available to common stockholders of Live Nation	$ 1.85	$ 1.47	$ 2.63	$ 1.79
Diluted net income per common share available to common stockholders of Live Nation	$ 1.78	$ 1.39	$ 2.59	$ 1.73
Weighted average common shares outstanding:
Basic	228,787,263	225,761,777	228,497,712	224,123,130
Diluted	244,163,678	243,686,803	235,146,395	239,617,920
Reconciliation to net income (loss) available to common stockholders of Live Nation:
Net income attributable to common stockholders of Live Nation	$ 483,495	$ 361,402	$ 774,008	$ 499,020
Accretion of redeemable noncontrolling interests	(60,882)	(29,915)	(172,436)	(97,723)
Net income available to common stockholders of Live Nation—basic	422,613	331,487	601,572	401,297
Convertible debt interest, net of tax	10,877	6,365	7,835	12,124
Net income available to common stockholders of Live Nation—diluted	$ 433,490	$ 337,852	$ 609,407	$ 413,421

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 540,681	$ 397,403	$ 916,210	$ 576,824
Other comprehensive income, net of tax:
Unrealized gain (loss) on cash flow hedge	6,293	18,522	14,002	50,178
Realized loss (gain) on cash flow hedge	(4,632)	(515)	(12,436)	2,634
Foreign currency translation adjustments	(48,672)	(42,319)	100,752	(58,731)
Comprehensive income	493,670	373,091	1,018,528	570,905
Comprehensive income attributable to noncontrolling interests	57,186	36,001	142,202	77,804
Comprehensive income attributable to common stockholders of Live Nation	$ 436,484	$ 337,090	$ 876,326	$ 493,101

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member] Cumulative Effect, Period of Adoption, Adjustment	Accumulated Deficit [Member]	Accumulated Deficit [Member] Cumulative Effect, Period of Adoption, Adjustment	Treasury Stock, Common	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interest [Member]	Redeemable Noncontrolling Interests [Member]
Equity [Roll Forward]
Cumulative effect of change in accounting principle		$ (35,464)			$ (95,986)		$ 60,522
Balances (in shares) at Dec. 31, 2021			221,964,734
Balances at Dec. 31, 2021	$ (188,454)		$ 2,220	$ 2,897,695		$ (3,327,737)		$ (6,865)	$ (147,964)	$ 394,197
Equity [Roll Forward]
Non-cash and stock-based compensation	198,740			198,740
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)			1,616,274
Common stock issued under stock plans, net of shares withheld for employee taxes	(46,953)		$ 16	(46,969)
Exercise of stock options, net of shares withheld for option cost and employee taxes (in shares)			3,556,573
Exercise of stock options	35,698		$ 35	35,663
Capped call transactions for 3.125% convertible senior notes due 2029	0
Acquisitions	5,181									5,181
Purchases of noncontrolling interests	(46,145)			(38,492)						(7,653)
Sales of noncontrolling interests	(336)			0						(336)
Redeemable noncontrolling interests fair value adjustments	(98,574)			(98,574)
Contributions received	16,719									16,719
Cash distributions	(64,682)									(64,682)
Other	49,042			35						49,007
Comprehensive income (loss):
Net income (loss)	579,703					499,020				80,683
Unrealized gain (loss) on cash flow hedge	50,178
Realized loss (gain) on cash flow hedge	2,634
Foreign currency translation adjustments	(58,731)										$ (151)
Balances at Sep. 30, 2022	398,556		$ 2,271	2,852,112		(2,768,195)		(6,865)	(153,883)	473,116
Balances (in shares) at Sep. 30, 2022			227,137,581
Balances at Dec. 31, 2021											551,921
Redeemable Noncontrolling Interests [Roll Forward]
Acquisitions											18,406
Purchases of noncontrolling interests											(1,457)
Redeemable noncontrolling interests fair value adjustments											98,414
Contribution received											25
Cash distributions											(17,170)
Other											(48,128)
Comprehensive income (loss):
Net income (loss)											(2,879)
Balances at Sep. 30, 2022											598,981
Balances (in shares) at Jun. 30, 2022			225,581,279
Balances at Jun. 30, 2022	34,998		$ 2,256	2,853,613		(3,129,597)		(6,865)	(129,571)	445,162
Equity [Roll Forward]
Non-cash and stock-based compensation	23,929			23,929
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)			519,012
Common stock issued under stock plans, net of shares withheld for employee taxes	(5,222)		$ 5	(5,227)
Exercise of stock options, net of shares withheld for option cost and employee taxes (in shares)			1,037,290
Exercise of stock options	9,647		$ 10	9,637
Acquisitions	0									0
Purchases of noncontrolling interests	(2,386)			(2,405)						19
Redeemable noncontrolling interests fair value adjustments	(29,840)			(29,840)
Contributions received	1,317									1,317
Cash distributions	(14,712)									(14,712)
Other	3,180			2,405						775
Comprehensive income (loss):
Net income (loss)	401,957					361,402				40,555
Unrealized gain (loss) on cash flow hedge	18,522
Realized loss (gain) on cash flow hedge	(515)
Foreign currency translation adjustments	(42,319)										(151)
Balances at Sep. 30, 2022	398,556		$ 2,271	2,852,112		(2,768,195)		(6,865)	(153,883)	473,116
Balances (in shares) at Sep. 30, 2022			227,137,581
Balances at Jun. 30, 2022											565,024
Redeemable Noncontrolling Interests [Roll Forward]
Acquisitions											9,729
Purchases of noncontrolling interests											0
Redeemable noncontrolling interests fair value adjustments											30,140
Contribution received											0
Cash distributions											(1,026)
Other											(181)
Comprehensive income (loss):
Net income (loss)											(4,554)
Balances at Sep. 30, 2022											598,981
Balances (in shares) at Dec. 31, 2022			228,498,102
Balances at Dec. 31, 2022	93,797		$ 2,285	2,698,316		(2,971,229)		(6,865)	(90,076)	461,366
Equity [Roll Forward]
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period			58
Non-cash and stock-based compensation	81,871			81,871
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)			229,406
Common stock issued under stock plans, net of shares withheld for employee taxes	(9,001)		$ 2	(9,003)
Exercise of stock options, net of shares withheld for option cost and employee taxes (in shares)			373,066
Exercise of stock options	8,343		$ 4	8,339
Conversion of convertible debt (in shares)			156,750
Conversion of convertible debt	2
Repurchase of 2.5% convertible senior notes due 2023	(27,325)			(27,327)
Capped call transactions for 3.125% convertible senior notes due 2029	75,500			75,500
Acquisitions	116,630									116,630
Purchases of noncontrolling interests	(120,811)			(93,721)						(27,090)
Redeemable noncontrolling interests fair value adjustments	(171,673)			(171,673)
Contributions received	15,403									15,403
Cash distributions	(88,182)									(88,182)
Other	56,484			0						56,484
Comprehensive income (loss):
Net income (loss)	882,615					774,008				108,607
Unrealized gain (loss) on cash flow hedge	14,002								14,002
Realized loss (gain) on cash flow hedge	(12,436)								(12,436)
Foreign currency translation adjustments	100,752								100,752	0	0
Balances at Sep. 30, 2023	864,969		$ 2,293	2,411,302		(2,197,221)		(6,865)	12,242	643,218
Balances (in shares) at Sep. 30, 2023			229,257,382
Balances at Dec. 31, 2022	669,766										669,766
Redeemable Noncontrolling Interests [Roll Forward]
Acquisitions											46,707
Purchases of noncontrolling interests											(4,839)
Redeemable noncontrolling interests fair value adjustments											171,673
Contribution received											85
Cash distributions											(65,607)
Other											(15,612)
Comprehensive income (loss):
Net income (loss)											33,595
Balances at Sep. 30, 2023	835,768										835,768
Balances (in shares) at Jun. 30, 2023			229,084,194
Balances at Jun. 30, 2023	371,429		$ 2,291	2,438,660		(2,680,716)		(6,865)	59,253	558,806
Equity [Roll Forward]
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period			58
Non-cash and stock-based compensation	26,537			26,537
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)			11,905
Common stock issued under stock plans, net of shares withheld for employee taxes	(537)		$ 0	(537)
Exercise of stock options, net of shares withheld for option cost and employee taxes (in shares)			161,225
Exercise of stock options	3,344		$ 2	3,342
Acquisitions	49,387									49,387
Purchases of noncontrolling interests	3,927			3,927						0
Redeemable noncontrolling interests fair value adjustments	(60,627)			(60,627)
Contributions received	772									772
Cash distributions	(13,489)									(13,489)
Other	2,164			0						2,164
Comprehensive income (loss):
Net income (loss)	529,073					483,495				45,578
Unrealized gain (loss) on cash flow hedge	6,293								6,293
Realized loss (gain) on cash flow hedge	(4,632)								(4,632)
Foreign currency translation adjustments	(48,672)								(48,672)		0
Balances at Sep. 30, 2023	864,969		$ 2,293	$ 2,411,302		$ (2,197,221)		$ (6,865)	$ 12,242	$ 643,218
Balances (in shares) at Sep. 30, 2023			229,257,382
Balances at Jun. 30, 2023											753,519
Redeemable Noncontrolling Interests [Roll Forward]
Acquisitions											20,411
Purchases of noncontrolling interests											(5,498)
Redeemable noncontrolling interests fair value adjustments											60,627
Contribution received											0
Cash distributions											(2,691)
Other											(2,208)
Comprehensive income (loss):
Net income (loss)											11,608
Balances at Sep. 30, 2023	$ 835,768										$ 835,768

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 916,210	$ 576,824
Reconciling items:
Depreciation	193,654	162,943
Amortization	188,698	155,546
Amortization of non-recoupable ticketing contract advances	58,518	56,121
Amortization of debt issuance costs and discounts	13,707	12,333
Loss on extinguishment of debt	18,366	0
Deferred income tax benefit	(10,419)	(155)
Stock-based compensation expense	85,905	86,178
Unrealized changes in fair value of contingent consideration	42,092	23,601
Equity in losses of nonconsolidated affiliates, net of distributions	7,013	31,420
Provision for uncollectible accounts receivable	35,707	40,736
Gain on mark-to-market of equity investments	(46,720)	(6,757)
Other, net	(12,249)	(4,077)
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:
Increase in accounts receivable	(1,014,739)	(1,009,472)
Increase in prepaid expenses and other assets	(479,434)	(297,379)
Increase in accounts payable, accrued expenses and other liabilities	916,619	1,536,196
Decrease in deferred revenue	(150,487)	(435,701)
Net cash provided by operating activities	762,441	928,357
CASH FLOWS FROM INVESTING ACTIVITIES
Advances of notes receivable	(129,532)	(58,307)
Collections of notes receivable	9,550	16,473
Investments made in nonconsolidated affiliates	(45,439)	(73,335)
Purchases of property, plant and equipment	(304,882)	(205,987)
Cash acquired from (paid for) acquisitions, net of cash paid (acquired)	29,151	(38,770)
Purchases of intangible assets	(36,653)	(6,764)
Other, net	13,841	6,962
Net cash used in investing activities	(463,964)	(359,728)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from long-term debt, net of debt issuance costs	988,310	5,750
Payments on long-term debt	(625,659)	(29,462)
Contributions from noncontrolling interests	15,488	14,340
Distributions to noncontrolling interests	(153,789)	(81,852)
Purchases and sales of noncontrolling interests, net	(89,819)	(27,104)
Payments for capped call transactions	(75,500)	0
Proceeds from exercise of stock options	8,343	35,698
Taxes paid for net share settlement of equity awards	(9,001)	(46,953)
Payments for deferred and contingent consideration	(13,690)	(45,164)
Other, net	249	(472)
Net cash provided by (used in) financing activities	44,932	(175,219)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(421)	(325,011)
Net increase in cash, cash equivalents, and restricted cash	342,988	68,399
Cash, cash equivalents and restricted cash at beginning of period	5,612,374	4,887,792
Cash, cash equivalents and restricted cash at end of period	$ 5,955,362	$ 4,956,191

BASIS OF PRESENTATION AND OTHER

BASIS OF PRESENTATION AND OTHER INFORMATION	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND OTHER INFORMATION	BASIS OF PRESENTATION AND OTHER INFORMATION Preparation of Interim Financial Statements The accompanying unaudited consolidated financial statements have been prepared in accordance with GAAP for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X issued by the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, they include all normal and recurring accruals and adjustments necessary to present fairly the results of the interim periods shown. The financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our 2022 Annual Report on Form 10-K filed with the SEC on February 23, 2023. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes including, but not limited to, legal, tax and insurance accruals, acquisition accounting and impairments. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from those estimates. Seasonality Our Concerts and Sponsorship & Advertising segments typically experience higher revenue and operating income in the second and third quarters as our outdoor venue concerts and festivals primarily occur from May through October in most major markets. Our Ticketing segment revenue is impacted by fluctuations in the availability and timing of events for sale to the public, which vary depending upon scheduling by our clients. Cash flows from our Concerts segment typically have a slightly different seasonality as partial payments are often made for artist performance fees and production costs for tours in advance of the date the related event tickets go on sale. These artist fees and production costs are expensed when the event occurs. Once tickets for an event go on sale, we generally begin to receive payments from ticket sales in advance of when the event occurs. In the United States, this cash is largely associated with events in our operated venues, notably amphitheaters, festivals, theaters and clubs. Internationally, this cash is from a combination of both events in our operated venues, as well as events in third-party venues associated with our promoter’s share of tickets in allocation markets. We record these ticket sales as revenue when the event occurs. Our seasonality also results in higher balances in cash and cash equivalents, accounts receivable, prepaid expenses, accrued expenses and deferred revenue at different times in the year. We expect our seasonality trends to evolve as we continue to expand our global operations. Variable Interest Entities In the normal course of business, we enter into joint ventures or make investments in companies that will allow us to expand our core business and enter new markets. In certain instances, such ventures or investments may be considered a VIE because the equity owners or the equity holders, as a group, lack the characteristics of a controlling financial interest. In determining whether we are the primary beneficiary of a VIE, we assess whether we have the power to direct activities that most significantly impact the economic performance of the entity and have the obligation to absorb losses or the right to receive benefits from the entity that could potentially be significant to the VIE. The activities we believe most significantly impact the economic performance of our VIEs include the unilateral ability to approve the annual budget, to terminate key management and to approve entering into agreements with artists, among others. We have certain rights and obligations related to our involvement in the VIEs, including the requirement to provide operational cash flow funding. As of September 30, 2023 and December 31, 2022, excluding intercompany balances and allocated goodwill and intangible assets, there were approximately $920 million and $514 million of assets and $570 million and $427 million of liabilities, respectively, related to VIEs included in our balance sheets. None of our VIEs are significant on an individual basis. Cash and Cash Equivalents Included in the September 30, 2023 and December 31, 2022 cash and cash equivalents balance is $1.3 billion and $1.5 billion, respectively, of cash received that includes the face value of tickets sold on behalf of our ticketing clients and their share of service charges (“client cash”), which amounts are to be remitted to these clients. We generally do not utilize client cash for our own financing or investing activities as the amounts are payable to our clients on a regular basis. These amounts due to our clients are included in accounts payable, client accounts. Income Taxes Each reporting period, we evaluate the realizability of our deferred tax assets in each tax jurisdiction. As of September 30, 2023, we continued to maintain a full valuation allowance against our net deferred tax assets in certain jurisdictions due to cumulative pre-tax losses. As a result of the valuation allowances, no tax benefits have been recognized for losses incurred, if any, in those tax jurisdictions for the first nine months of 2023. In August 2022, the Inflation Reduction Act (IRA) was enacted in the United States, which includes health care, clean energy, and income tax provisions. The income tax provisions amend the Internal Revenue Code to include among other things a corporate alternative minimum tax starting in the 2023 tax year. The Company is still assessing the impact due to a lack of United States Treasury regulations on this matter; however, the IRA is not expected to have a material impact on the Company's financial statements due to net operating losses and full valuation allowances for the United States, which is our most significant jurisdiction. We will continue to monitor to ensure our financial results and related tax disclosures are in compliance with the IRA tax legislation. Accounting Pronouncements - Adopted In October 2021, the FASB issued Accounting Standards Update (ASU) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers. This ASU should be applied prospectively to acquisitions occurring on or after the effective date of December 15, 2022, and early adoption is permitted. We adopted this guidance on January 1, 2023. The adoption is not expected to have a material impact on our consolidated financial statements.

LONG-LIVED ASSETS

LONG-LIVED ASSETS	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Property, Plant, and Equipment and Intangible Assets	LONG-LIVED ASSETS, INTANGIBLES, AND GOODWILL Property, Plant and Equipment, Net Property, plant and equipment, net, consisted of the following: September 30, 2023 December 31, 2022 (in thousands) Land, buildings and improvements $ 1,987,508 $ 1,648,488 Computer equipment and capitalized software 870,881 910,793 Furniture and other equipment 573,239 535,719 Construction in progress 281,862 244,618 Property, plant and equipment, gross 3,713,490 3,339,618 Less: accumulated depreciation 1,757,584 1,851,955 Property, plant and equipment, net $ 1,955,906 $ 1,487,663 Definite-lived Intangible Assets The following table presents the changes in the gross carrying amount and accumulated amortization of definite-lived intangible assets for the nine months ended September 30, 2023: Client / Revenue- Venue management and leaseholds Trademarks Technology and Other (1) Total (in thousands) Balance as of December 31, 2022: Gross carrying amount $ 563,210 $ 824,785 $ 148,022 $ 188,596 $ 35,736 $ 1,760,349 Accumulated amortization (209,518) (316,581) (58,588) (97,931) (27,109) (709,727) Net 353,692 508,204 89,434 90,665 8,627 1,050,622 Gross carrying amount: Acquisitions and additions—current year 47,478 51,369 77,074 — 21,789 197,710 Acquisitions and additions—prior year 619 (1,830) (11) — — (1,222) Foreign exchange 8,582 38,841 1,166 5,560 (429) 53,720 Other (2) (16,527) (53,926) (583) (13,625) (37,015) (121,676) Net change 40,152 34,454 77,646 (8,065) (15,655) 128,532 Accumulated amortization: Amortization (59,064) (73,939) (15,540) (13,912) (13,680) (176,135) Foreign exchange 223 (1,079) 107 (446) (368) (1,563) Other (2) 16,301 53,926 650 13,781 37,037 121,695 Net change (42,540) (21,092) (14,783) (577) 22,989 (56,003) Balance as of September 30, 2023: Gross carrying amount 603,362 859,239 225,668 180,531 20,081 1,888,881 Accumulated amortization (252,058) (337,673) (73,371) (98,508) (4,120) (765,730) Net $ 351,304 $ 521,566 $ 152,297 $ 82,023 $ 15,961 $ 1,123,151 (1) Other primarily includes intangible assets for non-compete agreements. (2) Other primarily includes netdowns of fully amortized or impaired assets. Included in the current year acquisitions and additions amounts above are definite-lived intangible assets primarily associated with the acquisitions of certain venue and artist management businesses located in the United States, a promoter business in South America, as well as additions for music publishing rights. The 2023 acquisitions and additions to definite-lived intangible assets had weighted-average lives as follows: Weighted- Revenue-generating contracts 6 Client/vendor relationships 5 Venue management and leaseholds 13 Technology (1) 3 All categories 8 _____________________ (1) The weighted average life of technology intangibles does not include purchased software licenses that are typically amortized over 1 to 3 years. Amortization of definite-lived intangible assets for the three months ended September 30, 2023 and 2022 was $63.4 million and $48.1 million, respectively, and for the nine months ended September 30, 2023 and 2022 was $176.1 million and $150.4 million, respectively. As acquisitions and dispositions occur in the future and the valuations of intangible assets for recent acquisitions are completed, amortization will vary. Goodwill The following table presents the changes in the carrying amount of goodwill in each of our reportable segments for the nine months ended September 30, 2023: Concerts Ticketing Sponsorship Total (in thousands) Balance as of December 31, 2022: Goodwill $ 1,349,426 $ 979,742 $ 635,575 $ 2,964,743 Accumulated impairment losses (435,363) — — (435,363) Net 914,063 979,742 635,575 2,529,380 Acquisitions—current year 90,765 — — 90,765 Acquisitions—prior year 233 143 — 376 Dispositions (6,183) — — (6,183) Foreign exchange (1,444) 22,127 18,505 39,188 Balance as of September 30, 2023: Goodwill 1,432,797 1,002,012 654,080 3,088,889 Accumulated impairment losses (435,363) — — (435,363) Net $ 997,434 $ 1,002,012 $ 654,080 $ 2,653,526 Included in the current year acquisitions amounts above is goodwill primarily associated with the acquisitions of certain venue and artist management businesses located in the United States and Europe as well as a promoter business in South America. We are in various stages of finalizing our acquisition accounting for recent acquisitions, which may include the use of external valuation consultants, and the completion of this accounting could result in a change to the associated purchase price allocations, including goodwill and our allocation between segments. Investments in Nonconsolidated Affiliates At September 30, 2023 and December 31, 2022, we had investments in nonconsolidated affiliates of $427.9 million and $408.8 million, respectively, included in other long-term assets on our consolidated balance sheets.

LEASES

LEASES	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
LEASES	LEASES The significant components of operating lease expense are as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 (in thousands) Operating lease expense $ 63,954 $ 60,003 $ 206,282 $ 195,514 Variable and short-term lease expense 85,148 64,548 157,453 117,441 Sublease income (1,865) (1,627) (6,477) (3,901) Net lease expense $ 147,237 $ 122,924 $ 357,258 $ 309,054 Many of our leases contain contingent rent obligations based on revenue, tickets sold or other variables. Contingent rent obligations, including those related to subsequent changes in the prevailing index or market rate after lease inception, are not included in the initial measurement of the lease asset or liability and are recorded as rent expense in the period that the contingency is resolved. Supplemental cash flow information for our operating leases is as follows: Nine Months Ended 2023 2022 (in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 195,945 $ 177,847 Lease assets obtained in exchange for lease obligations, net of terminations $ 148,960 $ 289,977 As of September 30, 2023, we have additional operating leases that have not yet commenced, with total lease payments of $122.9 million. These operating leases, which are not included on our consolidated balance sheets, have commencement dates ranging from October 2023 to June 2030 due to certain offices and venues under construction, with lease terms ranging from 2 to 30 years.

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Long-term debt, which includes finance leases, consisted of the following: September 30, 2023 December 31, 2022 (in thousands) Senior Secured Credit Facility: Term loan A $ 367,500 $ 382,500 Term loan B 839,089 845,644 6.5% Senior Secured Notes due 2027 1,200,000 1,200,000 3.75% Senior Secured Notes due 2028 500,000 500,000 4.875% Senior Notes due 2024 575,000 575,000 5.625% Senior Notes due 2026 300,000 300,000 4.75% Senior Notes due 2027 950,000 950,000 2.5% Convertible Senior Notes due 2023 — 550,000 2.0% Convertible Senior Notes due 2025 400,000 400,000 3.125% Convertible Senior Notes due 2029 1,000,000 — Other long-term debt 520,506 252,199 Total principal amount 6,652,095 5,955,343 Less: unamortized discounts and debt issuance costs (55,425) (51,844) Total long-term debt, net of unamortized discounts and debt issuance costs 6,596,670 5,903,499 Less: current portion 50,609 620,032 Total long-term debt, net $ 6,546,061 $ 5,283,467 Future maturities of long-term debt at September 30, 2023 are as follows: (in thousands) Remainder of 2023 $ 24,581 2024 1,473,511 2025 49,320 2026 1,394,829 2027 2,153,779 Thereafter 1,556,075 Total $ 6,652,095 All long-term debt without a stated maturity date is considered current and is reflected as maturing in the earliest period shown in the table above. See Note 5 – Fair Value Measurements for discussion of the fair value measurement of our long-term debt. 3.125% Convertible Senior Notes due 2029 In January 2023, we issued $1.0 billion principal amount of 3.125% convertible senior notes due 2029 (the “2029 Notes”). Interest on the 2029 Notes is payable semi-annually in arrears on January 15 and July 15, beginning July 15, 2023, at a rate of 3.125% per annum. The notes will mature on January 15, 2029. The notes will be convertible, under certain circumstances, until October 15, 2028, and on or after such date without condition, at an initial conversion rate of 9.2259 shares of our common stock per $1,000 principal amount of notes, subject to adjustment, which represents a 50% conversion premium based on the last reported sale price for our common stock of $72.26 on January 9, 2023 prior to issuing the debt. Upon conversion, the notes may be settled in, at our election, shares of common stock or cash or a combination of cash and shares of common stock. Assuming we fully settle the notes in shares, the maximum number of shares that could be issued to satisfy the conversion is 13.8 million as of September 30, 2023. We may redeem for cash all or any portion of the notes, at our option, on or after January 21, 2026 and before the 41st scheduled trading day before the maturity date, if the sales price of our common stock reaches specified targets as defined in the indenture. The redemption price will equal 100% of the principal amount of the notes plus accrued interest, if any. If we experience a fundamental change, as defined in the indenture governing the notes, the holders of the 2029 Notes may require us to purchase for cash all or a portion of their notes, subject to specified exceptions, at a price equal to 100% of the principal amount of the notes plus accrued and unpaid interest, if any. As of September 30, 2023, the remaining period for the unamortized debt issuance costs balance of $14.0 million was approximately five years and the value of the notes, if converted and fully settled in shares, did not exceed the principal amount of the notes. As of September 30, 2023, the effective interest rate on the notes was 3.4%. In connection with the issuance of the 2029 Notes, we entered into privately negotiated capped call transactions with several counterparties. The cap price of the capped call transactions is initially $144.52, which represents a premium of 100% over the last reported sale price of the Company’s common stock on January 9, 2023. The cost of the capped call transactions was $75.5 million and was charged to additional paid-in capital. Debt Extinguishment In conjunction with the issuance of the 2029 Notes, we used approximately $485.8 million of the net proceeds to repurchase $440.0 million aggregate principal amount of the 2.5% convertible senior notes due 2023 resulting in a loss on debt repurchase of $18.4 million and a charge to additional paid-in capital for the induced conversion of $27.3 million. On March 15, 2023, we redeemed the remaining $110.0 million aggregate principal amount of the 2.5% convertible senior notes and issued 156,750 common shares of stock. Senior Secured Facility Amendment In February 2023, we amended our senior secured credit facility. The amendments provide for, among other things: (i) replacement of the benchmark reference rate of the Eurodollar Rate (as defined in the Credit Agreement) with the Term SOFR Rate for borrowings denominated in United States Dollars and for each Alternative Currency (as defined in the Credit Agreement), a corresponding reference rate, as set forth in the Amended Credit Agreement, (ii) deletion of the provisions regarding Canadian bankers’ acceptances, and (iii) the addition of the Company’s ability to draw letters of credit in Canadian Dollars. Other Long-term Debt As of September 30, 2023, other long-term debt includes $271.0 million for debt due in 2026 acquired as part of an acquisition of a venue management business in the United States during the first quarter of 2023.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Recurring The following table shows the fair value of our significant financial assets that are required to be measured at fair value on a recurring basis, which are classified on the consolidated balance sheets as cash and cash equivalents. Estimated Fair Value September 30, 2023 December 31, 2022 Level 1 Level 2 Total Level 1 Level 2 Total (in thousands) Assets: Cash equivalents $ 573,696 $ — $ 573,696 $ 503,964 $ — $ 503,964 Interest rate swaps $ — $ 59,291 $ 59,291 $ — $ 41,515 $ 41,515 Cash equivalents consist of money market funds. Fair values for cash equivalents are based on quoted prices in an active market. The fair value for our interest rate swaps are based upon inputs corroborated by observable market data with similar tenors. Our outstanding debt held by third-party financial institutions is carried at cost, adjusted for any discounts or debt issuance costs. Our debt is not publicly traded and the carrying amounts typically approximate fair value for debt that accrues interest at a variable rate, which are considered to be Level 2 inputs as defined in the FASB guidance. The following table presents the estimated fair values of our senior secured notes, senior notes and convertible senior notes: Estimated Fair Value at September 30, 2023 December 31, 2022 Level 2 (in thousands) 6.5% Senior Secured Notes due 2027 $ 1,183,812 $ 1,175,460 3.75% Senior Secured Notes due 2028 $ 443,305 $ 429,035 4.875% Senior Notes due 2024 $ 565,294 $ 560,027 5.625% Senior Notes due 2026 $ 288,531 $ 285,315 4.75% Senior Notes due 2027 $ 870,856 $ 847,562 2.5% Convertible Senior Notes due 2023 $ — $ 588,473 2.0% Convertible Senior Notes due 2025 $ 409,280 $ 397,536 3.125% Convertible Senior Notes due 2029 $ 1,039,520 $ — The estimated fair value of our third-party fixed-rate debt is based on quoted market prices in active markets for the same or similar debt, which are considered to be Level 2 inputs.

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES Litigation Consumer Class Actions The following putative class action lawsuits were filed against Live Nation and/or Ticketmaster in Canada: Thompson-Marcial and Smith v. Ticketmaster Canada Holdings ULC (Ontario Superior Court of Justice, filed September 2018); McPhee v. Live Nation Entertainment, Inc., et al. (Superior Court of Quebec, District of Montreal, filed September 2018); Crystal Watch v. Live Nation Entertainment, Inc., et al. (Court of Queen’s Bench for Saskatchewan, by amendments filed September 2018); and Gomel v. Live Nation Entertainment, Inc., et al. (Supreme Court of British Columbia, Vancouver Registry, filed October 2018). Similar putative class actions were filed in the United States during the same time period, but as of November 2020, each of the lawsuits filed in the United States has been dismissed with prejudice. The Canadian lawsuits make similar factual allegations that Live Nation and/or Ticketmaster engage in conduct that is intended to encourage the resale of tickets on secondary ticket exchanges at elevated prices. Based on these allegations, each plaintiff asserts violations of different provincial and federal laws. Each plaintiff also seeks to represent a class of individuals who purchased tickets on a secondary ticket exchange, as defined in each plaintiff’s complaint. The Watch complaint also makes claims related to Ticketmaster’s fee display practices on the primary market. The complaints seek a variety of remedies, including unspecified compensatory damages, punitive damages, restitution, injunctive relief and attorneys’ fees and costs. In April 2021, the court in the Gomel lawsuit declined to certify all claims other than those pled under British Columbia’s Business Practices and Consumer Protection Act and claims for punitive damages. The court did certify a class of British Columbia residents who purchased tickets to an event in Canada on any secondary market exchange from June 2015 through April 2021 that were initially purchased on Ticketmaster.ca. In May 2021, Ticketmaster and Live Nation filed a notice of appeal of the class certification ruling, and the plaintiff filed a cross-appeal shortly thereafter. The appeals were heard in early February 2023. In July 2023, the Court of Appeal for British Columbia issued its ruling, finding that the trial court erred by certifying common issues related to damages in the absence of any evidence supporting a plausible methodology to determine damages on a class-wide basis and remitted the matter back to the motion judge to reconsider his ruling. The Court of Appeal also allowed plaintiff’s cross-appeal in part and returned the issue of whether the plaintiff’s Competition Act and Unjust Enrichment claims should be certified to the motion judge for reconsideration. In September 2023, Ticketmaster and Live Nation filed an application for leave to appeal the Court of Appeal decision to the Supreme Court of Canada. The court in the Watch matter issued its class certification ruling in November 2022. The court declined to certify and dismissed all claims other than those pled under provincial consumer protection statutes relating to drip pricing and certified a class of consumers who purchased tickets between September 2015 and June 2018 from Ticketmaster.ca on the primary market. In December 2022, the parties filed cross-notices of appeal of the court’s ruling. A hearing on the parties’ motions for leave to appeal took place in March 2023, and in July 2023, the court granted leave to appeal to both parties. Ticketmaster and Live Nation filed a notice of appeal to the Court of Appeal of Saskatchewan in August 2023. The class certification hearing in the Thompson-Marcial matter has been scheduled for December 2023. The McPhee matter is stayed pending the outcome of the Watch matter. Based on information presently known to management, we do not believe that a loss is probable of occurring at this time, and we believe that the potential liability, if any, will not have a material adverse effect on our financial position, cash flows or results of operations. Further, we do not currently believe that the claims asserted in these lawsuits have merit, and considerable uncertainty exists regarding any monetary damages that will be asserted against us. We continue to vigorously defend these actions. Astroworld Litigation On November 5, 2021, the Astroworld music festival was held in Houston, Texas. During the course of the festival, ten members of the audience sustained fatal injuries and others suffered non-fatal injuries. Following these events, approximately 450 civil lawsuits have been filed against Live Nation Entertainment, Inc. and related entities, asserting insufficient crowd control and other theories, seeking compensatory and punitive damages. Pursuant to a February 2022 order of the state Multidistrict Litigation Panel, matter 21-1033, the civil cases have been assigned to Judge Kristen Hawkins of the 11th District Court of Harris County, Texas, for oversight of pretrial matters under Texas’s rules governing multidistrict litigation. Confidential settlements were reached with the families of three of the deceased plaintiffs in August through December 2022. Discovery is underway in the remaining cases, and the first trial is scheduled to begin in May 2024. In June 2023, the Houston Police Department concluded its investigation, and a Grand Jury was empaneled to determine whether criminal charges should be brought against any persons or entities involved in the festival. The Grand Jury returned no indictments, and the criminal matter is now complete. We are currently unable to reliably predict the developments in, outcome of, and economic costs and other consequences of pending or future litigation related to these matters. We will continue to investigate the factual and legal defenses, and evaluate these matters based on subsequent events, new information and future circumstances. We currently expect that liability insurance can provide sufficient coverage, but at this time there are no assurances of such coverage. Given that these cases are in the early stages and in light of the uncertainties surrounding them, we do not currently possess sufficient information to determine a range of reasonably possible liability. Notwithstanding the foregoing, and without admitting liability or wrongdoing, we may incur material liabilities from the 2021 Astroworld event, which could have a material impact on our business, financial condition, results of operations and/or cash flows. Other Litigation From time to time, we are involved in other legal proceedings arising in the ordinary course of our business, including proceedings and claims based upon purported violations of antitrust laws, intellectual property rights and tortious interference, which could cause us to incur significant expenses. We have also been the subject of personal injury and wrongful death claims relating to accidents at our venues in connection with our operations. As required, we have accrued our estimate of the probable settlement or other losses for the resolution of any outstanding claims. These estimates have been developed in consultation with counsel and are based upon an analysis of potential results, including, in some cases, estimated redemption rates for the settlement offered, assuming a combination of litigation and settlement strategies. It is possible, however, that future results of operations for any particular period could be materially affected by changes in our assumptions or the outcomes of proceedings.

Equity

Equity	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Equity	EQUITY Accumulated Other Comprehensive Income (Loss) The following table presents changes in the components of AOCI, net of taxes, for the nine months ended September 30, 2023: Cash Flow Hedge Foreign Currency Items Total (in thousands) Balance at December 31, 2022 $ 41,283 $ (131,359) $ (90,076) Other comprehensive income before reclassifications 14,002 100,752 114,754 Amount reclassified from AOCI (12,436) — (12,436) Net other comprehensive income 1,566 100,752 102,318 Balance at September 30, 2023 $ 42,849 $ (30,607) $ 12,242 Earnings Per Share Basic net income (loss) per common share is computed by dividing the net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. The calculation of diluted net income (loss) per common share includes the effects of the assumed exercise of any outstanding stock options, the assumed vesting of shares of restricted and deferred stock awards and the assumed conversion of our convertible senior notes, where dilutive. The following table sets forth the computation of weighted average common shares outstanding: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Weighted average common shares—basic 228,787,263 225,761,777 228,497,712 224,123,130 Effect of dilutive securities: Stock options and restricted stock 2,371,755 6,060,991 2,252,391 7,409,515 Convertible senior notes 13,004,660 11,864,035 4,396,292 8,085,275 Weighted average common shares—diluted 244,163,678 243,686,803 235,146,395 239,617,920 The following table shows securities excluded from the calculation of diluted net income per common share because such securities are anti-dilutive: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Options to purchase shares of common stock 3,750 3,750 3,750 3,750 Restricted stock and deferred stock—unvested 2,361,832 1,340,319 2,430,242 1,260,701 Conversion shares related to the convertible senior notes — — 8,921,749 3,778,760 Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding 2,365,582 1,344,069 11,355,741 5,043,211

SEGMENTS AND REVENUE RECOGNITIO

SEGMENTS AND REVENUE RECOGNITION	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
SEGMENTS AND REVENUE RECOGNITION	SEGMENTS AND REVENUE RECOGNITION For the nine months ended September 30, 2023 and 2022, our reportable segments are Concerts, Ticketing and Sponsorship & Advertising. We use AOI to evaluate the performance of our operating segments and define AOI as operating income (loss) before certain stock-based compensation expense, loss (gain) on disposal of operating assets, depreciation and amortization (including goodwill impairment), amortization of non-recoupable ticketing contract advances and acquisition expenses (including transaction costs, changes in the fair value of accrued acquisition-related contingent consideration obligations, and acquisition-related severance and compensation) . AOI assists investors by allowing them to evaluate changes in the operating results of our portfolio of businesses separate from non-operational factors that affect net income (loss), thus providing insights into both operations and the other factors that affect reported results. Revenue and expenses earned and charged between segments are eliminated in consolidation. We manage our working capital on a consolidated basis. Accordingly, segment assets are not reported to, or used by, our management to allocate resources to or assess performance of our segments, and therefore, total segment assets and related depreciation and amortization have not been presented. The following table presents the results of operations for our reportable segments for the three and nine months ended September 30, 2023 and 2022: Concerts Ticketing Sponsorship Other & Eliminations Corporate Consolidated (in thousands) Three Months Ended September 30, 2023 Revenue $ 6,974,326 $ 832,584 $ 366,822 $ (21,713) $ — $ 8,152,019 % of Consolidated Revenue 85.6% 10.2% 4.5% (0.3)% Intersegment revenue $ 5,698 $ 9,501 $ — $ (15,199) $ — $ — AOI $ 340,904 $ 316,448 $ 250,265 $ (6,818) $ (64,736) $ 836,063 Three Months Ended September 30, 2022 Revenue $ 5,292,594 $ 531,570 $ 343,029 $ (13,658) $ — $ 6,153,535 % of Consolidated Revenue 86.0% 8.6% 5.6% (0.2)% Intersegment revenue $ 4,408 $ 9,748 $ — $ (14,156) $ — $ — AOI $ 280,809 $ 163,176 $ 226,234 $ (3,420) $ (46,081) $ 620,718 Nine Months Ended September 30, 2023 Revenue $ 13,888,829 $ 2,219,667 $ 839,799 $ (38,163) $ — $ 16,910,132 % of Consolidated Revenue 82.1% 13.1% 5.0% (0.2)% Intersegment revenue $ 9,896 $ 12,681 $ — $ (22,577) $ — $ — AOI $ 509,794 $ 880,184 $ 548,935 $ (32,899) $ (160,544) $ 1,745,470 Nine Months Ended September 30, 2022 Revenue $ 10,098,180 $ 1,587,274 $ 722,504 $ (17,441) $ — $ 12,390,517 % of Consolidated Revenue 81.5% 12.8% 5.8% (0.1)% Intersegment revenue $ 6,635 $ 12,660 $ — $ (19,295) $ — $ — AOI $ 354,587 $ 600,155 $ 474,238 $ (9,827) $ (109,797) $ 1,309,356 The following table sets forth the reconciliation of consolidated AOI to operating income for the three and nine months ended September 30, 2023 and 2022: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in thousands) AOI $ 836,063 $ 620,718 $ 1,745,470 $ 1,309,356 Acquisition expenses 40,968 7,495 79,108 29,115 Amortization of non-recoupable ticketing contract advances 16,921 15,729 58,518 56,121 Depreciation and amortization 130,653 102,093 382,352 318,489 Gain on disposal of operating assets (1,583) (35,285) (8,092) (32,555) Stock-based compensation expense 30,572 24,437 85,905 86,178 Operating income $ 618,532 $ 506,249 $ 1,147,679 $ 852,008 Contract Advances At September 30, 2023 and December 31, 2022, we had ticketing contract advances of $152.1 million and $106.5 million, respectively, recorded in prepaid expenses and $126.4 million and $105.0 million, respectively, recorded in long-term advances on the consolidated balance sheets. We amortized $16.9 million and $15.7 million for the three months ended September 30, 2023 and 2022, respectively, and $58.5 million and $56.1 million for the nine months ended September 30, 2023 and 2022, respectively, related to non-recoupable ticketing contract advances. Sponsorship Agreements At September 30, 2023, we had contracted sponsorship agreements with terms greater than one year that had approximately $1.4 billion of revenue related to future benefits to be provided by us. We expect to recognize, based on current projections, approximately 9%, 35%, 25% and 31% of this revenue in the remainder of 2023, 2024, 2025 and thereafter, respectively. Deferred Revenue The majority of our deferred revenue is typically classified as current and is shown as a separate line item on the consolidated balance sheets. Deferred revenue that is not expected to be recognized within the next twelve months is classified as long-term and reflected in other long-term liabilities on the consolidated balance sheets. We had current deferred revenue of $3.1 billion and $2.8 billion at December 31, 2022 and 2021, respectively. The table below summarizes the amount of the preceding December 31 current deferred revenue recognized during the three and nine months ended September 30, 2023 and 2022: Three Months Ended Nine Months Ended 2023 2022 2023 2022 (in thousands) Concerts $ 814,504 $ 825,573 $ 2,629,546 $ 2,135,814 Ticketing 37,124 40,803 133,365 120,543 Sponsorship & Advertising 17,432 36,703 125,359 128,035 $ 869,060 $ 903,079 $ 2,888,270 $ 2,384,392

BASIS OF PRESENTATION AND OTH_2

BASIS OF PRESENTATION AND OTHER INFORMATION (Basis of Presentation and Other Information) (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Consolidation, Variable Interest Entity, Policy	Variable Interest Entities In the normal course of business, we enter into joint ventures or make investments in companies that will allow us to expand our core business and enter new markets. In certain instances, such ventures or investments may be considered a VIE because the equity owners or the equity holders, as a group, lack the characteristics of a controlling financial interest. In determining whether we are the primary beneficiary of a VIE, we assess whether we have the power to direct activities that most significantly impact the economic performance of the entity and have the obligation to absorb losses or the right to receive benefits from the entity that could potentially be significant to the VIE. The activities we believe most significantly impact the economic performance of our VIEs include the unilateral ability to approve the annual budget, to terminate key management and to approve entering into agreements with artists, among others. We have certain rights and obligations related to our involvement in the VIEs, including the requirement to provide operational cash flow funding. As of September 30, 2023 and December 31, 2022, excluding intercompany balances and allocated goodwill and intangible assets, there were approximately $920 million and $514 million of assets and $570 million and $427 million of liabilities, respectively, related to VIEs included in our balance sheets. None of our VIEs are significant on an individual basis.
Cash and Cash Equivalents	Cash and Cash Equivalents Included in the September 30, 2023 and December 31, 2022 cash and cash equivalents balance is $1.3 billion and $1.5 billion, respectively, of cash received that includes the face value of tickets sold on behalf of our ticketing clients and their share of service charges (“client cash”), which amounts are to be remitted to these clients. We generally do not utilize client cash for our own financing or investing activities as the amounts are payable to our clients on a regular basis. These amounts due to our clients are included in accounts payable, client accounts.
Income Taxes	Income Taxes Each reporting period, we evaluate the realizability of our deferred tax assets in each tax jurisdiction. As of September 30, 2023, we continued to maintain a full valuation allowance against our net deferred tax assets in certain jurisdictions due to cumulative pre-tax losses. As a result of the valuation allowances, no tax benefits have been recognized for losses incurred, if any, in those tax jurisdictions for the first nine months of 2023. In August 2022, the Inflation Reduction Act (IRA) was enacted in the United States, which includes health care, clean energy, and income tax provisions. The income tax provisions amend the Internal Revenue Code to include among other things a corporate alternative minimum tax starting in the 2023 tax year. The Company is still assessing the impact due to a lack of United States Treasury regulations on this matter; however, the IRA is not expected to have a material impact on the Company's financial statements due to net operating losses and full valuation allowances for the United States, which is our most significant jurisdiction. We will continue to monitor to ensure our financial results and related tax disclosures are in compliance with the IRA tax legislation.
Recent Accounting Pronouncements	Accounting Pronouncements - Adopted In October 2021, the FASB issued Accounting Standards Update (ASU) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers. This ASU should be applied prospectively to acquisitions occurring on or after the effective date of December 15, 2022, and early adoption is permitted. We adopted this guidance on January 1, 2023. The adoption is not expected to have a material impact on our consolidated financial statements.

LONG-LIVED ASSETS (Long-Lived A

LONG-LIVED ASSETS (Long-Lived Assets) (Tables)	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment	Property, plant and equipment, net, consisted of the following: September 30, 2023 December 31, 2022 (in thousands) Land, buildings and improvements $ 1,987,508 $ 1,648,488 Computer equipment and capitalized software 870,881 910,793 Furniture and other equipment 573,239 535,719 Construction in progress 281,862 244,618 Property, plant and equipment, gross 3,713,490 3,339,618 Less: accumulated depreciation 1,757,584 1,851,955 Property, plant and equipment, net $ 1,955,906 $ 1,487,663
Gross Carrying Amount and Accumulated Amortization of Definite-Lived Intangible Assets	The following table presents the changes in the gross carrying amount and accumulated amortization of definite-lived intangible assets for the nine months ended September 30, 2023: Client / Revenue- Venue management and leaseholds Trademarks Technology and Other (1) Total (in thousands) Balance as of December 31, 2022: Gross carrying amount $ 563,210 $ 824,785 $ 148,022 $ 188,596 $ 35,736 $ 1,760,349 Accumulated amortization (209,518) (316,581) (58,588) (97,931) (27,109) (709,727) Net 353,692 508,204 89,434 90,665 8,627 1,050,622 Gross carrying amount: Acquisitions and additions—current year 47,478 51,369 77,074 — 21,789 197,710 Acquisitions and additions—prior year 619 (1,830) (11) — — (1,222) Foreign exchange 8,582 38,841 1,166 5,560 (429) 53,720 Other (2) (16,527) (53,926) (583) (13,625) (37,015) (121,676) Net change 40,152 34,454 77,646 (8,065) (15,655) 128,532 Accumulated amortization: Amortization (59,064) (73,939) (15,540) (13,912) (13,680) (176,135) Foreign exchange 223 (1,079) 107 (446) (368) (1,563) Other (2) 16,301 53,926 650 13,781 37,037 121,695 Net change (42,540) (21,092) (14,783) (577) 22,989 (56,003) Balance as of September 30, 2023: Gross carrying amount 603,362 859,239 225,668 180,531 20,081 1,888,881 Accumulated amortization (252,058) (337,673) (73,371) (98,508) (4,120) (765,730) Net $ 351,304 $ 521,566 $ 152,297 $ 82,023 $ 15,961 $ 1,123,151 (1) Other primarily includes intangible assets for non-compete agreements. (2) Other primarily includes netdowns of fully amortized or impaired assets.	[1],[2]
Weighted Average Lives of Additions to Definite-Lived Intangible Assets	The 2023 acquisitions and additions to definite-lived intangible assets had weighted-average lives as follows: Weighted- Revenue-generating contracts 6 Client/vendor relationships 5 Venue management and leaseholds 13 Technology (1) 3 All categories 8 _____________________	[3]
Changes in Goodwill by Segment	The following table presents the changes in the carrying amount of goodwill in each of our reportable segments for the nine months ended September 30, 2023: Concerts Ticketing Sponsorship Total (in thousands) Balance as of December 31, 2022: Goodwill $ 1,349,426 $ 979,742 $ 635,575 $ 2,964,743 Accumulated impairment losses (435,363) — — (435,363) Net 914,063 979,742 635,575 2,529,380 Acquisitions—current year 90,765 — — 90,765 Acquisitions—prior year 233 143 — 376 Dispositions (6,183) — — (6,183) Foreign exchange (1,444) 22,127 18,505 39,188 Balance as of September 30, 2023: Goodwill 1,432,797 1,002,012 654,080 3,088,889 Accumulated impairment losses (435,363) — — (435,363) Net $ 997,434 $ 1,002,012 $ 654,080 $ 2,653,526
[1]Other primarily includes intangible assets for non-compete agreements.[2]Other primarily includes netdowns of fully amortized or impaired assets.[3]The weighted average life of technology intangibles does not include purchased software licenses that are typically amortized over 1 to 3 years.

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Significant Components of Operating Lease Expense	The significant components of operating lease expense are as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 (in thousands) Operating lease expense $ 63,954 $ 60,003 $ 206,282 $ 195,514 Variable and short-term lease expense 85,148 64,548 157,453 117,441 Sublease income (1,865) (1,627) (6,477) (3,901) Net lease expense $ 147,237 $ 122,924 $ 357,258 $ 309,054
Supplemental Cash Flow Information for Operating Leases	Supplemental cash flow information for our operating leases is as follows: Nine Months Ended 2023 2022 (in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 195,945 $ 177,847 Lease assets obtained in exchange for lease obligations, net of terminations $ 148,960 $ 289,977 As of September 30, 2023, we have additional operating leases that have not yet commenced, with total lease payments of $122.9 million. These operating leases, which are not included on our consolidated balance sheets, have commencement dates ranging from October 2023 to June 2030 due to certain offices and venues under construction, with lease terms ranging from 2 to 30 years.

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments [Table Text Block]	Long-term debt, which includes finance leases, consisted of the following: September 30, 2023 December 31, 2022 (in thousands) Senior Secured Credit Facility: Term loan A $ 367,500 $ 382,500 Term loan B 839,089 845,644 6.5% Senior Secured Notes due 2027 1,200,000 1,200,000 3.75% Senior Secured Notes due 2028 500,000 500,000 4.875% Senior Notes due 2024 575,000 575,000 5.625% Senior Notes due 2026 300,000 300,000 4.75% Senior Notes due 2027 950,000 950,000 2.5% Convertible Senior Notes due 2023 — 550,000 2.0% Convertible Senior Notes due 2025 400,000 400,000 3.125% Convertible Senior Notes due 2029 1,000,000 — Other long-term debt 520,506 252,199 Total principal amount 6,652,095 5,955,343 Less: unamortized discounts and debt issuance costs (55,425) (51,844) Total long-term debt, net of unamortized discounts and debt issuance costs 6,596,670 5,903,499 Less: current portion 50,609 620,032 Total long-term debt, net $ 6,546,061 $ 5,283,467
Schedule of Maturities of Long-term Debt [Table Text Block]	Future maturities of long-term debt at September 30, 2023 are as follows: (in thousands) Remainder of 2023 $ 24,581 2024 1,473,511 2025 49,320 2026 1,394,829 2027 2,153,779 Thereafter 1,556,075 Total $ 6,652,095

FAIR VALUE MEASUREMENTS Fair Va

FAIR VALUE MEASUREMENTS Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities Measured on a Recurring Basis	The following table shows the fair value of our significant financial assets that are required to be measured at fair value on a recurring basis, which are classified on the consolidated balance sheets as cash and cash equivalents. Estimated Fair Value September 30, 2023 December 31, 2022 Level 1 Level 2 Total Level 1 Level 2 Total (in thousands) Assets: Cash equivalents $ 573,696 $ — $ 573,696 $ 503,964 $ — $ 503,964 Interest rate swaps $ — $ 59,291 $ 59,291 $ — $ 41,515 $ 41,515
Estimated Fair Values of Debt	The following table presents the estimated fair values of our senior secured notes, senior notes and convertible senior notes: Estimated Fair Value at September 30, 2023 December 31, 2022 Level 2 (in thousands) 6.5% Senior Secured Notes due 2027 $ 1,183,812 $ 1,175,460 3.75% Senior Secured Notes due 2028 $ 443,305 $ 429,035 4.875% Senior Notes due 2024 $ 565,294 $ 560,027 5.625% Senior Notes due 2026 $ 288,531 $ 285,315 4.75% Senior Notes due 2027 $ 870,856 $ 847,562 2.5% Convertible Senior Notes due 2023 $ — $ 588,473 2.0% Convertible Senior Notes due 2025 $ 409,280 $ 397,536 3.125% Convertible Senior Notes due 2029 $ 1,039,520 $ —

EQUITY Equity (Tables)

EQUITY Equity (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table presents changes in the components of AOCI, net of taxes, for the nine months ended September 30, 2023: Cash Flow Hedge Foreign Currency Items Total (in thousands) Balance at December 31, 2022 $ 41,283 $ (131,359) $ (90,076) Other comprehensive income before reclassifications 14,002 100,752 114,754 Amount reclassified from AOCI (12,436) — (12,436) Net other comprehensive income 1,566 100,752 102,318 Balance at September 30, 2023 $ 42,849 $ (30,607) $ 12,242
Schedule of Weighted Average Number of Shares	The following table sets forth the computation of weighted average common shares outstanding: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Weighted average common shares—basic 228,787,263 225,761,777 228,497,712 224,123,130 Effect of dilutive securities: Stock options and restricted stock 2,371,755 6,060,991 2,252,391 7,409,515 Convertible senior notes 13,004,660 11,864,035 4,396,292 8,085,275 Weighted average common shares—diluted 244,163,678 243,686,803 235,146,395 239,617,920
Potentially Dilutive Securities Excluded From Diluted Net Income (Loss) Per Common Share	The following table shows securities excluded from the calculation of diluted net income per common share because such securities are anti-dilutive: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Options to purchase shares of common stock 3,750 3,750 3,750 3,750 Restricted stock and deferred stock—unvested 2,361,832 1,340,319 2,430,242 1,260,701 Conversion shares related to the convertible senior notes — — 8,921,749 3,778,760 Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding 2,365,582 1,344,069 11,355,741 5,043,211

SEGMENTS AND REVENUE RECOGNIT_2

SEGMENTS AND REVENUE RECOGNITION (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table presents the results of operations for our reportable segments for the three and nine months ended September 30, 2023 and 2022: Concerts Ticketing Sponsorship Other & Eliminations Corporate Consolidated (in thousands) Three Months Ended September 30, 2023 Revenue $ 6,974,326 $ 832,584 $ 366,822 $ (21,713) $ — $ 8,152,019 % of Consolidated Revenue 85.6% 10.2% 4.5% (0.3)% Intersegment revenue $ 5,698 $ 9,501 $ — $ (15,199) $ — $ — AOI $ 340,904 $ 316,448 $ 250,265 $ (6,818) $ (64,736) $ 836,063 Three Months Ended September 30, 2022 Revenue $ 5,292,594 $ 531,570 $ 343,029 $ (13,658) $ — $ 6,153,535 % of Consolidated Revenue 86.0% 8.6% 5.6% (0.2)% Intersegment revenue $ 4,408 $ 9,748 $ — $ (14,156) $ — $ — AOI $ 280,809 $ 163,176 $ 226,234 $ (3,420) $ (46,081) $ 620,718 Nine Months Ended September 30, 2023 Revenue $ 13,888,829 $ 2,219,667 $ 839,799 $ (38,163) $ — $ 16,910,132 % of Consolidated Revenue 82.1% 13.1% 5.0% (0.2)% Intersegment revenue $ 9,896 $ 12,681 $ — $ (22,577) $ — $ — AOI $ 509,794 $ 880,184 $ 548,935 $ (32,899) $ (160,544) $ 1,745,470 Nine Months Ended September 30, 2022 Revenue $ 10,098,180 $ 1,587,274 $ 722,504 $ (17,441) $ — $ 12,390,517 % of Consolidated Revenue 81.5% 12.8% 5.8% (0.1)% Intersegment revenue $ 6,635 $ 12,660 $ — $ (19,295) $ — $ — AOI $ 354,587 $ 600,155 $ 474,238 $ (9,827) $ (109,797) $ 1,309,356
Reconciliation of AOI to Operating Income (Loss)	The following table sets forth the reconciliation of consolidated AOI to operating income for the three and nine months ended September 30, 2023 and 2022: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (in thousands) AOI $ 836,063 $ 620,718 $ 1,745,470 $ 1,309,356 Acquisition expenses 40,968 7,495 79,108 29,115 Amortization of non-recoupable ticketing contract advances 16,921 15,729 58,518 56,121 Depreciation and amortization 130,653 102,093 382,352 318,489 Gain on disposal of operating assets (1,583) (35,285) (8,092) (32,555) Stock-based compensation expense 30,572 24,437 85,905 86,178 Operating income $ 618,532 $ 506,249 $ 1,147,679 $ 852,008
Contract with Customer, Asset and Liability	Deferred Revenue The majority of our deferred revenue is typically classified as current and is shown as a separate line item on the consolidated balance sheets. Deferred revenue that is not expected to be recognized within the next twelve months is classified as long-term and reflected in other long-term liabilities on the consolidated balance sheets. We had current deferred revenue of $3.1 billion and $2.8 billion at December 31, 2022 and 2021, respectively. The table below summarizes the amount of the preceding December 31 current deferred revenue recognized during the three and nine months ended September 30, 2023 and 2022: Three Months Ended Nine Months Ended 2023 2022 2023 2022 (in thousands) Concerts $ 814,504 $ 825,573 $ 2,629,546 $ 2,135,814 Ticketing 37,124 40,803 133,365 120,543 Sponsorship & Advertising 17,432 36,703 125,359 128,035 $ 869,060 $ 903,079 $ 2,888,270 $ 2,384,392

BASIS OF PRESENTATION AND OTH_3

BASIS OF PRESENTATION AND OTHER INFORMATION (Basis of Presentation and Other Information) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Total assets	$ 19,140,573,000	$ 16,460,841,000
Cash received that includes the face value of tickets sold on behalf of ticketing clients and their share of service charges.	1,300,000,000	1,500,000,000
Tax benefit recognized for losses incurred	0
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Total assets	920,000,000	514,000,000
Liabilities	$ 570,000,000	$ 427,000,000

LONG-LIVED ASSETS (Property, Pl

LONG-LIVED ASSETS (Property, Plant and Equipment) (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Land, buildings and improvements	$ 1,987,508	$ 1,648,488
Computer equipment and capitalized software	870,881	910,793
Furniture and other equipment	573,239	535,719
Construction in progress	281,862	244,618
Property, plant and equipment, gross	3,713,490	3,339,618
Less: accumulated depreciation	1,757,584	1,851,955
Property, plant and equipment, net	$ 1,955,906	$ 1,487,663

LONG-LIVED ASSETS (Definite-liv

LONG-LIVED ASSETS (Definite-lived Intangibles) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount				$ 1,760,349
Accumulated amortization				(709,727)
Net				1,050,622
Acquisitions and additions—current year				197,710
Acquisitions and additions—prior year				(1,222)
Foreign exchange				53,720
Other (2)	[1]			(121,676)
Net change				128,532
Amortization		$ (63,400)	$ (48,100)	(176,135)	$ (150,400)
Foreign exchange				(1,563)
Other (2)	[1]			121,695
Net change				(56,003)
Gross carrying amount		1,888,881		1,888,881
Accumulated amortization		(765,730)		(765,730)
Net		1,123,151		$ 1,123,151
Weighted-average lives of definite-lived intangible assets				8 years
Client/vendor relationships [Member]
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount				$ 563,210
Accumulated amortization				(209,518)
Net				353,692
Acquisitions and additions—current year				47,478
Acquisitions and additions—prior year				619
Foreign exchange				8,582
Other (2)	[1]			(16,527)
Net change				40,152
Amortization				(59,064)
Foreign exchange				223
Other (2)	[1]			16,301
Net change				(42,540)
Gross carrying amount		603,362		603,362
Accumulated amortization		(252,058)		(252,058)
Net		351,304		$ 351,304
Weighted-average lives of definite-lived intangible assets				5 years
Revenue-generating contracts [Member]
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount				$ 824,785
Accumulated amortization				(316,581)
Net				508,204
Acquisitions and additions—current year				51,369
Acquisitions and additions—prior year				(1,830)
Foreign exchange				38,841
Other (2)	[1]			(53,926)
Net change				34,454
Amortization				(73,939)
Foreign exchange				(1,079)
Other (2)	[1]			53,926
Net change				(21,092)
Gross carrying amount		859,239		859,239
Accumulated amortization		(337,673)		(337,673)
Net		521,566		$ 521,566
Weighted-average lives of definite-lived intangible assets				6 years
Venue Management & Leaseholds
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount				$ 148,022
Accumulated amortization				(58,588)
Net				89,434
Acquisitions and additions—current year				77,074
Acquisitions and additions—prior year				(11)
Foreign exchange				1,166
Other (2)	[1]			(583)
Net change				77,646
Amortization				(15,540)
Foreign exchange				107
Other (2)	[1]			650
Net change				(14,783)
Gross carrying amount		225,668		225,668
Accumulated amortization		(73,371)		(73,371)
Net		152,297		$ 152,297
Weighted-average lives of definite-lived intangible assets				13 years
Trademarks and naming rights [Member]
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount				$ 188,596
Accumulated amortization				(97,931)
Net				90,665
Acquisitions and additions—current year				0
Acquisitions and additions—prior year				0
Foreign exchange				5,560
Other (2)	[1]			(13,625)
Net change				(8,065)
Amortization				(13,912)
Foreign exchange				(446)
Other (2)	[1]			13,781
Net change				(577)
Gross carrying amount		180,531		180,531
Accumulated amortization		(98,508)		(98,508)
Net		82,023		$ 82,023
Technology [Member]
Finite-lived Intangible Assets [Roll Forward]
Weighted-average lives of definite-lived intangible assets				3 years
Technology and Other intangible assets [Member]
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount	[2]			$ 35,736
Accumulated amortization	[2]			(27,109)
Net	[2]			8,627
Acquisitions and additions—current year	[2]			21,789
Acquisitions and additions—prior year	[2]			0
Foreign exchange	[2]			(429)
Other (2)	[1],[2]			(37,015)
Net change	[2]			(15,655)
Amortization	[2]			(13,680)
Foreign exchange	[2]			(368)
Other (2)	[1],[2]			37,037
Net change	[2]			22,989
Gross carrying amount	[2]	20,081		20,081
Accumulated amortization	[2]	(4,120)		(4,120)
Net	[2]	$ 15,961		$ 15,961
[1]Other primarily includes netdowns of fully amortized or impaired assets.[2]Other primarily includes intangible assets for non-compete agreements.

LONG-LIVED ASSETS (Definite-l_2

LONG-LIVED ASSETS (Definite-lived Intangibles Amortization) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Amortization of definite-lived intangible assets	$ 63,400	$ 48,100	$ 176,135	$ 150,400

LONG-LIVED ASSETS (Goodwill) (D

LONG-LIVED ASSETS (Goodwill) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Changes in carrying amount of goodwill [Roll Forward]
Gross goodwill, beginning of period	$ 2,964,743
Accumulated impairment losses	(435,363)
Net goodwill, beginning of period	2,529,380
Acquisition—current year	90,765
Acquisitions—prior year	376
Dispositions	(6,183)
Foreign exchange	39,188
Gross goodwill, end of period	3,088,889
Accumulated impairment losses	(435,363)
Net goodwill, end of period	2,653,526
Concerts [Member]
Changes in carrying amount of goodwill [Roll Forward]
Gross goodwill, beginning of period	1,349,426
Accumulated impairment losses	(435,363)
Net goodwill, beginning of period	914,063
Acquisition—current year	90,765
Acquisitions—prior year	233
Dispositions	(6,183)
Foreign exchange	(1,444)
Gross goodwill, end of period	1,432,797
Accumulated impairment losses	(435,363)
Net goodwill, end of period	997,434
Ticketing [Member]
Changes in carrying amount of goodwill [Roll Forward]
Gross goodwill, beginning of period	979,742
Accumulated impairment losses	0
Net goodwill, beginning of period	979,742
Acquisition—current year	0
Acquisitions—prior year	143
Dispositions	0
Foreign exchange	22,127
Gross goodwill, end of period	1,002,012
Accumulated impairment losses	0
Net goodwill, end of period	1,002,012
Sponsorship and Advertising [Member]
Changes in carrying amount of goodwill [Roll Forward]
Gross goodwill, beginning of period	635,575
Accumulated impairment losses	0
Net goodwill, beginning of period	635,575
Acquisition—current year	0
Acquisitions—prior year	0
Dispositions	0
Foreign exchange	18,505
Gross goodwill, end of period	654,080
Accumulated impairment losses	0
Net goodwill, end of period	$ 654,080

LONG-LIVED ASSETS (Investments

LONG-LIVED ASSETS (Investments in Nonconsolidated Affiliates) (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Investments [Abstract]
Investments in nonconsolidated affiliates	$ 427.9	$ 408.8

LEASES (Significant Components

LEASES (Significant Components Of Operating Lease Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Operating lease expense	$ 63,954	$ 60,003	$ 206,282	$ 195,514
Variable and short-term lease expense	85,148	64,548	157,453	117,441
Sublease income	(1,865)	(1,627)	(6,477)	(3,901)
Net lease expense	$ 147,237	$ 122,924	$ 357,258	$ 309,054

LEASES (Supplemental Cash Flow

LEASES (Supplemental Cash Flow Information For Operating Leases) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 195,945	$ 177,847
Lease assets obtained in exchange for lease obligations, net of terminations	$ 148,960	$ 289,977

LEASES (Leases Not Yet Commence

LEASES (Leases Not Yet Commenced) (Details) $ in Millions	Sep. 30, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Total lease payments due under operating leases that have not yet commenced	$ 122.9
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lease term for operating leases that have not yet commenced	2 years
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lease term for operating leases that have not yet commenced	30 years

LONG-TERM DEBT (Schedule of Lon

LONG-TERM DEBT (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total principal amount	$ 6,652,095	$ 5,955,343
Less: unamortized discounts and debt issuance costs	(55,425)	(51,844)
Total long-term debt, net of unamortized discounts and debt issuance costs	6,596,670	5,903,499
Current portion of long-term debt, net	50,609	620,032
Long-term debt, net	6,546,061	5,283,467
Senior Secured Credit Facility Term loan A [Member]
Debt Instrument [Line Items]
Total principal amount	367,500	382,500
Senior Secured Credit Facility Term loan B [Member]
Debt Instrument [Line Items]
Total principal amount	839,089	845,644
6.5% Senior Secured Notes Due 2027 [Member]
Debt Instrument [Line Items]
Total principal amount	1,200,000	1,200,000
3.75% Senior Secured Notes Due 2028 [Member]
Debt Instrument [Line Items]
Total principal amount	500,000	500,000
4.875% Senior Notes Due 2024 [Member]
Debt Instrument [Line Items]
Total principal amount	575,000	575,000
5.625% Senior Notes Due 2026 [Member]
Debt Instrument [Line Items]
Total principal amount	300,000	300,000
4.75% Senior Notes due 2027 [Member]
Debt Instrument [Line Items]
Total principal amount	950,000	950,000
2.5% Convertible Senior Notes Due 2023
Debt Instrument [Line Items]
Total principal amount	0	550,000
2.0% Convertible Senior Notes Due 2025 [Member]
Debt Instrument [Line Items]
Total principal amount	400,000	400,000
3.125% Convertible Senior Notes Due 2029
Debt Instrument [Line Items]
Total principal amount	1,000,000	0
Other Long Term Debt [Member]
Debt Instrument [Line Items]
Total principal amount	$ 520,506	$ 252,199

LONG-TERM DEBT (Future of Matur

LONG-TERM DEBT (Future of Maturities of Long-Term Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Maturities of Long-term Debt [Abstract]
Remainder of 2023	$ 24,581
2024	1,473,511
2025	49,320
2026	1,394,829
2027	2,153,779
Thereafter	1,556,075
Total	$ 6,652,095	$ 5,955,343

LONG-TERM DEBT (3.125% Converti

LONG-TERM DEBT (3.125% Convertible Senior Notes due 2029) (Details)			3 Months Ended		9 Months Ended
	Jan. 12, 2023 USD ($)	Jan. 09, 2023	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) shares	Sep. 30, 2022 USD ($)	Mar. 15, 2023 USD ($)
Debt Instrument [Line Items]
Loss on extinguishment of debt			$ 0	$ 0	$ (18,366,000)	$ 0
Repurchase of 2.5% convertible senior notes due 2023					$ (27,325,000)
3.125% Convertible Senior Notes Due 2029
Debt Disclosure [Abstract]
Face amount	$ 1,000,000,000
Debt Instrument, Interest Rate, Stated Percentage	3.125%
Proceeds from Issuance of Debt	$ 485,800,000
Debt Instrument [Line Items]
Face amount	$ 1,000,000,000
Debt Instrument, Interest Rate, Stated Percentage	3.125%
Debt Instrument Convertible Conversion Premium	50
Last reported sale price used to calculate conversion premium	72.26
Maximum number of shares issuable upon conversion	13.8 million
Debt Issuance Costs, Net	$ 14,000,000
Debt Instrument, Convertible, Remaining Discount Amortization Period			5 years		5 years
Effective interest rate			3.40%		3.40%
Proceeds from Issuance of Debt	$ 485,800,000
Conversion ratio	0.0092259
3.125% Convertible Senior Notes Due 2029 | Debt Instrument Redemption Redeem for Cash
Debt Instrument [Line Items]
Redemption price, percentage	100%
3.125% Convertible Senior Notes Due 2029 | Redemption, Defined Changes of Control [Member]
Debt Instrument [Line Items]
Redemption price, percentage	100%
2.5% Convertible Senior Notes Due 2023
Debt Disclosure [Abstract]
Debt Instrument, Interest Rate, Stated Percentage	2.50%						2.50%
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.50%						2.50%
Debt Instrument, Repurchased Face Amount	$ 440,000,000						$ 110,000,000
Conversion of convertible debt (in shares) | shares					156,750
Repurchase of 2.5% convertible senior notes due 2023					$ (27,300,000)
Capped Call Transaction
Debt Instrument [Line Items]
Derivative, Cap Price	144.52
Capped Call Premium		100
Payments for Derivative Instrument, Financing Activities	$ 75,500,000

LONG-TERM DEBT (Debt Extinguish

LONG-TERM DEBT (Debt Extinguishment) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Jan. 12, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Mar. 15, 2023
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 0	$ 0	$ (18,366)	$ 0
Repurchase of 2.5% convertible senior notes due 2023				(27,325)
3.125% Convertible Senior Notes Due 2029
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.125%
Proceeds from Issuance of Debt	$ 485,800
2.5% Convertible Senior Notes Due 2023
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.50%					2.50%
Debt Instrument, Repurchased Face Amount	$ 440,000					$ 110,000
Repurchase of 2.5% convertible senior notes due 2023				$ (27,300)
Conversion of convertible debt (in shares)				156,750

LONG-TERM DEBT (Other Long Term

LONG-TERM DEBT (Other Long Term Debt) (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Other Long Term Debt [Member] | United States Venue Management Acquisition
Debt Instrument [Line Items]
Other Long-Term Debt	$ 271,000

FAIR VALUE MEASUREMENTS (Assets

FAIR VALUE MEASUREMENTS (Assets and Liabilities Measured On A Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Cash equivalents	$ 573,696	$ 503,964
Recurring [Member]
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Interest Rate Derivative Assets, at Fair Value	59,291	41,515
Level 1 [Member] | Recurring [Member]
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Cash equivalents	573,696	503,964
Interest Rate Derivative Assets, at Fair Value	0	0
Level 2 [Member] | Recurring [Member]
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Cash equivalents	0	0
Interest Rate Derivative Assets, at Fair Value	$ 59,291	$ 41,515

FAIR VALUE MEASUREMENTS (Fair V

FAIR VALUE MEASUREMENTS (Fair Value of Debt) (Details) - Level 2 [Member] - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
6.5% Senior Secured Notes Due 2027 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	$ 1,183,812	$ 1,175,460
3.75% Senior Secured Notes Due 2028 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	443,305	429,035
4.875% Senior Notes Due 2024 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	565,294	560,027
5.625% Senior Notes Due 2026 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	288,531	285,315
4.75% Senior Notes due 2027 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	870,856	847,562
2.5% Convertible Senior Notes Due 2023
Debt Fair Value [Line Items]
Estimated fair values of convertible senior notes	0	588,473
2.0% Convertible Senior Notes Due 2025 [Member]
Debt Fair Value [Line Items]
Estimated fair values of convertible senior notes	409,280	397,536
3.125% Convertible Senior Notes Due 2029
Debt Fair Value [Line Items]
Estimated fair values of convertible senior notes	$ 1,039,520	$ 0

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES (Details) - Astroworld Festival	9 Months Ended
	Sep. 30, 2023 numberOfClaims	Nov. 05, 2021
Loss Contingencies [Line Items]
Astroworld Fatal Injuries		10
Loss Contingency, New Claims Filed, Number	450
Loss Contingency, Claims Settled, Number	3

EQUITY (Accumulated Other Compr

EQUITY (Accumulated Other Comprehensive Loss) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2022	$ (90,076)
Other comprehensive income before reclassifications	114,754
Amount reclassified from AOCI	(12,436)
Net other comprehensive income	102,318
Balance at September 30, 2023	12,242
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2022	41,283
Other comprehensive income before reclassifications	14,002
Amount reclassified from AOCI	(12,436)
Net other comprehensive income	1,566
Balance at September 30, 2023	42,849
Foreign Currency Items [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2022	(131,359)
Other comprehensive income before reclassifications	100,752
Amount reclassified from AOCI	0
Net other comprehensive income	100,752
Balance at September 30, 2023	$ (30,607)

EQUITY (Weighted Average Common

EQUITY (Weighted Average Common Shares Outstanding) (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Weighted Average Common Shares Basic and Diluted [Line Items]
Basic	228,787,263	225,761,777	228,497,712	224,123,130
Incremental Common Shares Attributable to Dilutive Effect of Share-Based Payment Arrangements	2,371,755	6,060,991	2,252,391	7,409,515
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities	13,004,660	11,864,035	4,396,292	8,085,275
Weighted Average Number of Shares Outstanding, Diluted	244,163,678	243,686,803	235,146,395	239,617,920

EQUITY (Antidilutive Securities

EQUITY (Antidilutive Securities Excluded from Computation of Earnings per Share) (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,365,582	1,344,069	11,355,741	5,043,211
Options to purchase shares of common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,750	3,750	3,750	3,750
Restricted and deferred stock awards—unvested [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,361,832	1,340,319	2,430,242	1,260,701
Conversion shares related to the convertible senior notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0	8,921,749	3,778,760

SEGMENTS AND REVENUE RECOGNIT_3

SEGMENTS AND REVENUE RECOGNITION Segment Results of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Revenue	$ 8,152,019	$ 6,153,535	$ 16,910,132	$ 12,390,517
AOI	836,063	620,718	1,745,470	1,309,356
Operating Segments [Member] | Concerts [Member]
Segment Reporting Information [Line Items]
Revenue	$ 6,974,326	$ 5,292,594	$ 13,888,829	$ 10,098,180
Percentage of Concert revenue to consolidated revenue	85.60%	86%	82.10%	81.50%
AOI	$ 340,904	$ 280,809	$ 509,794	$ 354,587
Operating Segments [Member] | Ticketing [Member]
Segment Reporting Information [Line Items]
Revenue	$ 832,584	$ 531,570	$ 2,219,667	$ 1,587,274
Percentage of Ticketing revenue to consolidated revenue	10.20%	8.60%	13.10%	12.80%
AOI	$ 316,448	$ 163,176	$ 880,184	$ 600,155
Operating Segments [Member] | Sponsorship and Advertising [Member]
Segment Reporting Information [Line Items]
Revenue	$ 366,822	$ 343,029	$ 839,799	$ 722,504
Percentage of Sponsorship & Advertising revenue to consolidated revenue	4.50%	5.60%	5%	5.80%
AOI	$ 250,265	$ 226,234	$ 548,935	$ 474,238
Operating Segments [Member] | Corporate Segment
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
AOI	(64,736)	(46,081)	(160,544)	(109,797)
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	(15,199)	(14,156)	(22,577)	(19,295)
Intersegment Eliminations [Member] | Concerts [Member]
Segment Reporting Information [Line Items]
Revenue	5,698	4,408	9,896	6,635
Intersegment Eliminations [Member] | Ticketing [Member]
Segment Reporting Information [Line Items]
Revenue	9,501	9,748	12,681	12,660
Intersegment Eliminations [Member] | Sponsorship and Advertising [Member]
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
Intersegment Eliminations [Member] | Other and Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	$ (21,713)	$ (13,658)	$ (38,163)	$ (17,441)
Percentage of Other and Eliminations to Total Revenue	(0.3)	(0.2)	(0.2)	(0.1)
AOI	$ (6,818)	$ (3,420)	$ (32,899)	$ (9,827)
Intersegment Eliminations [Member] | Corporate Segment
Segment Reporting Information [Line Items]
Revenue	$ 0	$ 0	$ 0	$ 0

SEGMENTS AND REVENUE RECOGNIT_4

SEGMENTS AND REVENUE RECOGNITION Reconciliation of AOI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Reconciliation of AOI [Line Items]
AOI	$ 836,063	$ 620,718	$ 1,745,470	$ 1,309,356
Acquisition expenses	40,968	7,495	79,108	29,115
Amortization of non-recoupable ticketing contract advances			58,518	56,121
Depreciation and amortization	130,653	102,093	382,352	318,489
Gain (Loss) on Disposition of Other Assets	1,583	35,285	8,092	32,555
Stock-based compensation expense	30,572	24,437	85,905	86,178
Operating income	618,532	506,249	1,147,679	852,008
Ticketing [Member]
Reconciliation of AOI [Line Items]
Amortization of non-recoupable ticketing contract advances	16,921	15,729	58,500	56,100
Operating Segments [Member] | Concerts [Member]
Reconciliation of AOI [Line Items]
AOI	340,904	280,809	509,794	354,587
Operating Segments [Member] | Ticketing [Member]
Reconciliation of AOI [Line Items]
AOI	316,448	163,176	880,184	600,155
Operating Segments [Member] | Sponsorship and Advertising [Member]
Reconciliation of AOI [Line Items]
AOI	250,265	226,234	548,935	474,238
Operating Segments [Member] | Corporate Segment
Reconciliation of AOI [Line Items]
AOI	$ (64,736)	$ (46,081)	$ (160,544)	$ (109,797)

SEGMENTS AND REVENUE RECOGNIT_5

SEGMENTS AND REVENUE RECOGNITION Ticketing Contract Advances (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Capitalized Contract Cost [Line Items]
Amortization of non-recoupable ticketing contract advances			$ 58,518	$ 56,121
Ticketing [Member]
Capitalized Contract Cost [Line Items]
Amortization of non-recoupable ticketing contract advances	$ 16,921	$ 15,729	58,500	$ 56,100
Prepaid Expenses [Member] | Ticketing [Member]
Capitalized Contract Cost [Line Items]
Ticketing contract advances	152,100		152,100		$ 106,500
Other Noncurrent Assets [Member] | Ticketing [Member]
Capitalized Contract Cost [Line Items]
Ticketing contract advances	$ 126,400		$ 126,400		$ 105,000

SEGMENTS AND REVENUE RECOGNIT_6

SEGMENTS AND REVENUE RECOGNITION Performance Obligation (Details) - Sponsorship and Advertising [Member] $ in Billions	Sep. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue related to future benefits to be provided by the Company	$ 1.4
Percentage of revenue on contracts to be recognized during the remainder of current year	9%
Percentage of revenue on contracts to be recognized next year	35%
Percentage of revenue on contracts to be recognized in two years	25%
Percentage of revenue to be recognized on contracts thereafter	31%

SEGMENTS AND REVENUE RECOGNIT_7

SEGMENTS AND REVENUE RECOGNITION Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, current	$ 3,083,668		$ 3,083,668		$ 3,134,800
Deferred Revenue, prior						$ 2,800,000
Recognition of deferred revenue	869,060	$ 903,079	2,888,270	$ 2,384,392
Concerts [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognition of deferred revenue	814,504	825,573	2,629,546	2,135,814
Ticketing [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognition of deferred revenue	37,124	40,803	133,365	120,543
Sponsorship and Advertising [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognition of deferred revenue	$ 17,432	$ 36,703	$ 125,359	$ 128,035