Live Nation Entertainment (LYV) 10-Q 2 May 24 2024 Q1 Quarterly report Financial data

DOCUMENT

DOCUMENT - shares	3 Months Ended
	Mar. 31, 2024	Apr. 25, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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	2024
Document Fiscal Period Focus	Q1
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		231,442,568

CONSOLIDATED BALANCE SHEETS (UN

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 6,501,709	$ 6,231,866
Accounts receivable, less allowance of $73,157 and $82,350, respectively	2,279,906	2,069,054
Prepaid expenses	1,474,295	1,147,581
Restricted cash	7,640	7,090
Other current assets	164,230	122,163
Total current assets	10,427,780	9,577,754
Property, plant and equipment, net	2,116,632	2,101,463
Operating lease assets	1,577,490	1,606,389
Intangible assets
Definite-lived intangible assets, net	1,162,783	1,161,621
Indefinite-lived intangible assets, net	377,894	377,349
Goodwill	2,699,480	2,691,466
Long-term advances	608,506	623,154
Other long-term assets	1,059,624	934,849
Total assets	20,030,189	19,074,045
Current liabilities
Accounts payable, client accounts	1,878,540	1,866,864
Accounts payable	248,196	267,493
Accrued expenses	2,766,166	3,006,281
Deferred revenue	5,025,357	3,398,028
Current portion of long-term debt, net	1,137,262	1,134,386
Current portion of operating lease liabilities	159,372	158,421
Other current liabilities	113,517	128,430
Total current liabilities	11,328,410	9,959,903
Long-term debt, net	5,082,211	5,459,026
Long-term operating lease liabilities	1,642,377	1,686,091
Other long-term liabilities	524,454	488,159
Commitments and contingent liabilities (see Note 6)
Redeemable noncontrolling interests	983,550	893,709
Stockholders' equity
Common stock	2,302	2,298
Additional paid-in capital	2,308,595	2,367,918
Accumulated deficit	(2,454,682)	(2,407,949)
Cost of shares held in treasury	(6,865)	(6,865)
Accumulated other comprehensive income	35,818	27,450
Total Live Nation stockholders' equity	(114,832)	(17,148)
Noncontrolling interests	584,019	604,305
Total equity	469,187	587,157
Total liabilities and equity	$ 20,030,189	$ 19,074,045

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets
Allowance for doubtful accounts	$ 73,157	$ 82,350

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Revenue	$ 3,799,529	$ 3,127,390
Operating expenses:
Direct operating expenses	2,646,457	2,115,589
Selling, general and administrative expenses	981,559	690,321
Depreciation and amortization	132,594	115,185
Loss (gain) on disposal of operating assets	651	(504)
Corporate expenses	76,077	63,015
Operating income (loss)	(36,507)	142,776
Interest expense	80,691	89,215
Loss on extinguishment of debt	0	18,366
Interest income	(43,257)	(40,313)
Equity in earnings of nonconsolidated affiliates	(84)	(4,107)
Other expense (income), net	(77,054)	11,583
Income before income taxes	3,197	68,032
Income tax expense	35,414	23,840
Net income (loss)	(32,217)	44,192
Net income attributable to noncontrolling interests	14,516	47,361
Net loss attributable to common stockholders of Live Nation	$ (46,733)	$ (3,169)
Earnings Per Share, Basic	$ (0.53)	$ (0.25)
Earnings Per Share, Diluted	$ (0.53)	$ (0.25)
Weighted average common shares outstanding:
Weighted Average Number of Shares Outstanding, Basic	229,471,184	228,162,831
Weighted Average Number of Shares Outstanding, Diluted	229,471,184	228,162,831
Reconciliation to net income (loss) available to common stockholders of Live Nation:
Net loss attributable to common stockholders of Live Nation	$ (46,733)	$ (3,169)
Accretion of redeemable noncontrolling interests	(75,109)	(54,933)
Net Income (Loss) Available to Common Stockholders, Basic, Total	(121,842)	(58,102)
Net Income (Loss) Available to Common Stockholders, Diluted, Total	$ (121,842)	$ (58,102)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (32,217)	$ 44,192
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) on cash flow hedge	8,369	(3,949)
Realized gain on cash flow hedge	(4,730)	(3,548)
Foreign currency translation adjustments	4,729	80,148
Comprehensive income (loss)	(23,849)	116,843
Comprehensive income attributable to noncontrolling interests	14,516	47,361
Comprehensive income (loss) attributable to common stockholders of Live Nation	$ (38,365)	$ 69,482

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Treasury Stock, Common	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interest [Member]	Redeemable Noncontrolling Interests [Member]
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]
Non-cash and stock-based compensation	27,571		27,571
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)		184,975
Common stock issued under stock plans, net of shares withheld for employee taxes	(7,949)	$ 1	(7,950)
Exercise of stock options, net of shares withheld for option cost and employee taxes (in shares)		19,962
Exercise of stock options	994	$ 1	993
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	58,466						58,466
Purchases of noncontrolling interests	(37,278)		(25,872)				(11,406)
Redeemable noncontrolling interests fair value adjustments	(54,678)		(54,678)
Contributions received	5,859						5,859
Cash distributions	(44,209)						(44,209)
Other	28,025		0				28,025
Comprehensive income (loss):
Net income (loss)	38,722			(3,169)			41,891
Unrealized gain (loss) on cash flow hedge	(3,949)
Realized gain on cash flow hedge	(3,548)
Foreign currency translation adjustments	80,148
Balances at Mar. 31, 2023	79,146	$ 2,289	2,535,553	(2,974,398)	(6,865)	(17,425)	539,992
Balances (in shares) at Mar. 31, 2023		228,859,789
Balances at Dec. 31, 2022								$ 669,766
Redeemable Noncontrolling Interests [Roll Forward]
Acquisitions								12,308
Purchases of noncontrolling interests								0
Redeemable noncontrolling interests fair value adjustments								54,678
Contribution received								85
Cash distributions								(10,706)
Other								(21,251)
Comprehensive income (loss):
Net income (loss)								5,470
Balances at Mar. 31, 2023								710,350
Balances (in shares) at Dec. 31, 2023		229,785,241
Balances at Dec. 31, 2023	587,157	$ 2,298	2,367,918	(2,407,949)	(6,865)	27,450	604,305
Equity [Roll Forward]
Non-cash and stock-based compensation	36,665		36,665
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)		348,102
Common stock issued under stock plans, net of shares withheld for employee taxes	(25,483)	$ 3	(25,486)
Exercise of stock options, net of shares withheld for option cost and employee taxes (in shares)		64,364
Exercise of stock options	1,787	$ 1	1,786
Capped call transactions for 3.125% convertible senior notes due 2029	0
Acquisitions	16,687						16,687
Purchases of noncontrolling interests	2,251		2,260				(9)
Redeemable noncontrolling interests fair value adjustments	(74,548)		(74,548)
Contributions received	0						0
Cash distributions	(48,832)						(48,832)
Other	2,106		0				2,106
Comprehensive income (loss):
Net income (loss)	(36,971)			(46,733)			9,762
Unrealized gain (loss) on cash flow hedge	8,369					8,369
Realized gain on cash flow hedge	(4,730)					(4,730)
Foreign currency translation adjustments	4,729					4,729	0	0
Balances at Mar. 31, 2024	469,187	$ 2,302	$ 2,308,595	$ (2,454,682)	$ (6,865)	$ 35,818	$ 584,019
Balances (in shares) at Mar. 31, 2024		230,197,707
Balances at Dec. 31, 2023	893,709							893,709
Redeemable Noncontrolling Interests [Roll Forward]
Acquisitions								30,681
Purchases of noncontrolling interests								(12,216)
Redeemable noncontrolling interests fair value adjustments								74,966
Contribution received								28
Cash distributions								(7,330)
Other								(1,042)
Comprehensive income (loss):
Net income (loss)								4,754
Balances at Mar. 31, 2024	$ 983,550							$ 983,550

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (32,217)	$ 44,192
Reconciling items:
Depreciation	70,589	57,710
Amortization	62,005	57,475
Amortization of non-recoupable ticketing contract advances	24,080	20,363
Deferred income tax benefit	(5,729)	(2,550)
Amortization of debt issuance costs and discounts	3,943	4,630
Loss on extinguishment of debt	0	(18,366)
Stock-based compensation expense	31,402	27,571
Unrealized changes in fair value of contingent consideration	12,807	9,702
Equity in losses of nonconsolidated affiliates, net of distributions	3,571	7,793
Provision for uncollectible accounts receivable	1,248	6,054
Gain on mark-to-market of investments in nonconsolidated affiliates	(89,840)	(668)
Other, net	(10,386)	2,911
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:
Increase in accounts receivable	(217,998)	(163,603)
Increase in prepaid expenses and other assets	(360,997)	(369,494)
Decrease in accounts payable, accrued expenses and other liabilities	(185,039)	(460,749)
Increase in deferred revenue	1,681,431	1,896,145
Net cash provided by operating activities	988,870	1,155,848
CASH FLOWS FROM INVESTING ACTIVITIES
Advances of notes receivable	(31,495)	(33,579)
Collections of notes receivable	2,639	2,825
Investments made in nonconsolidated affiliates	(12,392)	(6,455)
Purchases of property, plant and equipment	(134,053)	(116,886)
Cash acquired from acquisitions, net of cash paid	10,010	96,382
Purchases of intangible assets	(11,673)	0
Other, net	6,265	(2,076)
Net cash used in investing activities	(170,699)	(59,789)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from long-term debt, net of debt issuance costs	562	987,793
Payments on long-term debt	(373,253)	(604,584)
Contributions from noncontrolling interests	28	5,944
Distributions to noncontrolling interests	(56,162)	(54,915)
Purchases of noncontrolling interests, net	(8,795)	(21,606)
Payments for capped call transactions	0	(75,500)
Proceeds from exercise of stock options	1,787	994
Taxes paid for net share settlement of equity awards	(25,483)	(7,949)
Payments for deferred and contingent consideration	(16,421)	(2,606)
Other, net	(619)	(1,870)
Net cash provided by (used in) financing activities	(478,356)	225,701
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(69,422)	63,318
Net increase in cash, cash equivalents, and restricted cash	270,393	1,385,078
Cash, cash equivalents, and restricted cash at beginning of period	6,238,956	5,612,374
Cash, cash equivalents, and restricted cash at end of period	$ 6,509,349	$ 6,997,452

BASIS OF PRESENTATION AND OTHER

BASIS OF PRESENTATION AND OTHER INFORMATION	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
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 2023 Annual Report on Form 10-K filed with the SEC on February 22, 2024. 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 owned or 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 at risk is insufficient to permit it to carry on its activities without additional financial support from its equity owners. 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 March 31, 2024 and December 31, 2023, excluding intercompany balances and allocated goodwill and intangible assets, there were approximately $928 million and $940 million of assets and $590 million and $592 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 March 31, 2024 and December 31, 2023 cash and cash equivalents balance is $1.4 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 March 31, 2024, 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 three months of 2024. Accounting Pronouncements In June 2022, the FASB issued Accounting Standards Update 2022-03, which clarifies guidance for fair value measurement of an equity security subject to a contractual sale restriction and establishes new disclosure requirements for such equity securities. We adopted this guidance on January 1, 2024. The adoption did not and is not expected to have a material impact on our consolidated financial statements. In November 2023, the FASB issued Accounting Standards Update 2023-07, which expands segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. This guidance is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting this guidance.

LONG-LIVED ASSETS

LONG-LIVED ASSETS	3 Months Ended
	Mar. 31, 2024
LONG-LIVED ASSETS [Abstract]
LONG-LIVED ASSETS	Property, Plant and Equipment, Net Property, plant and equipment includes expenditures for the construction of new venues, major renovations to existing buildings or buildings that are being added to our venue network, the development of new ticketing tools and technology enhancements along with the renewal and improvement of existing venues and technology systems, web development and administrative offices. Property, plant and equipment, net, consisted of the following: March 31, 2024 December 31, 2023 (in thousands) Land, buildings and improvements $ 2,085,796 $ 2,043,595 Computer equipment and capitalized software 903,837 888,065 Furniture and other equipment 651,519 646,966 Construction in progress 318,633 317,028 Property, plant and equipment, gross 3,959,785 3,895,654 Less: accumulated depreciation 1,843,153 1,794,191 Property, plant and equipment, net $ 2,116,632 $ 2,101,463 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 three months ended March 31, 2024: Revenue- Client / Venue management and leaseholds Trademarks Technology and Other (1) Total (in thousands) Balance as of December 31, 2023: Gross carrying amount $ 925,257 $ 583,436 $ 226,788 $ 183,493 $ 20,220 $ 1,939,194 Accumulated amortization (336,625) (251,649) (79,218) (104,036) (6,045) (777,573) Net 588,632 331,787 147,570 79,457 14,175 1,161,621 Gross carrying amount: Acquisitions and additions—current year 57,447 — — — 129 57,576 Acquisitions and additions—prior year (2,479) 3,894 (237) (63) — 1,115 Foreign exchange 4,938 (2,807) (946) 842 (41) 1,986 Other (2) (596) (1,145) (4,202) (869) 47 (6,765) Net change 59,310 (58) (5,385) (90) 135 53,912 Accumulated amortization: Amortization (27,378) (21,851) (6,450) (4,520) (1,806) (62,005) Foreign exchange 311 2,113 569 279 (346) 2,926 Other (2) 596 1,145 4,222 47 319 6,329 Net change (26,471) (18,593) (1,659) (4,194) (1,833) (52,750) Balance as of March 31, 2024: Gross carrying amount 984,567 583,378 221,403 183,403 20,355 1,993,106 Accumulated amortization (363,096) (270,242) (80,877) (108,230) (7,878) (830,323) Net $ 621,471 $ 313,136 $ 140,526 $ 75,173 $ 12,477 $ 1,162,783 (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 amounts above are definite-lived intangible assets primarily associated with the acquisition of a festival promotion business in the United States. The 2024 acquisitions and additions to definite-lived intangible assets had weighted-average lives as follows: Weighted- Revenue-generating contracts 10 Technology 3 All categories 10 Amortization of definite-lived intangible assets for the three months ended March 31, 2024 and 2023 was $62.0 million and $57.5 million, respectively. As acquisitions and dispositions occur in the future and the valuations of intangible assets for recent acquisitions are completed, amortization expense may vary. Goodwill The following table presents the changes in the carrying amount of goodwill in each of our reportable segments for the three months ended March 31, 2024: Concerts Ticketing Sponsorship Total (in thousands) Balance as of December 31, 2023: Goodwill $ 1,439,579 $ 1,012,530 $ 674,720 $ 3,126,829 Accumulated impairment losses (435,363) — — (435,363) Net 1,004,216 1,012,530 674,720 2,691,466 Acquisitions—current year 2,334 — — 2,334 Acquisitions—prior year 8,772 — — 8,772 Dispositions 88 — — 88 Foreign exchange (10,091) 3,082 3,829 (3,180) Balance as of March 31, 2024: Goodwill 1,440,682 1,015,612 678,549 3,134,843 Accumulated impairment losses (435,363) — — (435,363) Net $ 1,005,319 $ 1,015,612 $ 678,549 $ 2,699,480 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 March 31, 2024 and December 31, 2023, we had investments in nonconsolidated affiliates of $513.1 million and $447.5 million, respectively, included in other long-term assets on our consolidated balance sheets.

LEASES

LEASES	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
LEASES	The significant components of operating lease expense are as follows: Three Months Ended 2024 2023 (in thousands) Operating lease expense $ 65,736 $ 65,329 Variable and short-term lease expense 25,195 31,342 Sublease income (1,409) (2,188) Net lease expense $ 89,522 $ 94,483 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: Three Months Ended 2024 2023 (in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 79,177 $ 73,489 Lease assets obtained in exchange for lease obligations, net of terminations $ 10,950 $ 43,636 As of March 31, 2024, we have additional operating leases that have not yet commenced with total lease payments of $113.8 million. These operating leases, which are not included on our consolidated balance sheets, have commencement dates ranging from April 2024 to June 2030 with lease terms ranging from 2 to 30 years.

LONG-TERM DEBT

LONG-TERM DEBT	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
LONG-TERM DEBT	Long-term debt, which includes finance leases, consisted of the following: March 31, 2024 December 31, 2023 (in thousands) Senior Secured Credit Facility: Term loan B 834,718 836,903 Revolving credit facility — 370,000 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 2.0% Convertible Senior Notes due 2025 400,000 400,000 3.125% Convertible Senior Notes due 2029 1,000,000 1,000,000 Other long-term debt 505,980 511,210 Total principal amount 6,265,698 6,643,113 Less: unamortized discounts and debt issuance costs (46,225) (49,701) Total long-term debt, net of unamortized discounts and debt issuance costs 6,219,473 6,593,412 Less: current portion 1,137,262 1,134,386 Total long-term debt, net $ 5,082,211 $ 5,459,026 Future maturities of long-term debt at March 31, 2024 are as follows: (in thousands) Remainder of 2024 $ 1,128,810 2025 25,700 2026 1,398,192 2027 2,153,870 2028 1,515,542 Thereafter 43,584 Total $ 6,265,698 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. Other Long-term Debt As of March 31, 2024, other long-term debt includes $275.0 million for a note due in 2026 related to an acquisition of a venue management business during the first quarter of 2023 in the United States and $124.4 million for a Euro denominated note due in 2024.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
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 March 31, 2024 December 31, 2023 Level 1 Level 2 Total Level 1 Level 2 Total (in thousands) Assets: Cash equivalents $ 608,161 $ — $ 608,161 $ 580,126 $ — $ 580,126 Interest rate swaps — 45,076 45,076 — 39,232 39,232 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 March 31, 2024 December 31, 2023 Level 2 (in thousands) 6.5% Senior Secured Notes due 2027 $ 1,214,040 $ 1,222,608 3.75% Senior Secured Notes due 2028 $ 464,685 $ 469,515 4.875% Senior Notes due 2024 $ 572,177 $ 570,412 5.625% Senior Notes due 2026 $ 297,102 $ 297,606 4.75% Senior Notes due 2027 $ 908,210 $ 913,653 2.0% Convertible Senior Notes due 2025 $ 445,020 $ 423,668 3.125% Convertible Senior Notes due 2029 $ 1,203,590 $ 1,136,160 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. Non-recurring For the three months ended March 31, 2024, we recorded a gain related to an investment in a nonconsolidated affiliate of $31.8 million as well as a gain related to a warrant on the same investment in a nonconsolidated affiliate of $32.6 million, as a component of other income, net. To calculate the gain on the investment, we remeasured the investment to fair value of $142.2 million using an observable price from orderly transactions for a similar investment of the same issuer. We remeasured the warrant to fair value of $52.6 million using an option pricing model. For the three months ended March 31, 2024, we also recorded a gain related to an investment in a nonconsolidated affiliate of $24.3 million, as a component of other income, net. The gain was related to the acquisition of a controlling interest in a concert business, which was previously accounted for as an equity-method investment. To calculate the gain, we remeasured the investment to fair value of $35.2 million using the income approach method. The key inputs in these fair value measurements include a future cash flow projection, including revenue, profit margins, and adjustment related to discount for lack of marketability. The key inputs used for these non-recurring fair value measurements are considered Level 3 inputs.
Fair Value Measurement and Measurement Inputs, Nonrecurring	For the three months ended March 31, 2024, we recorded a gain related to an investment in a nonconsolidated affiliate of $31.8 million as well as a gain related to a warrant on the same investment in a nonconsolidated affiliate of $32.6 million, as a component of other income, net. To calculate the gain on the investment, we remeasured the investment to fair value of $142.2 million using an observable price from orderly transactions for a similar investment of the same issuer. We remeasured the warrant to fair value of $52.6 million using an option pricing model. For the three months ended March 31, 2024, we also recorded a gain related to an investment in a nonconsolidated affiliate of $24.3 million, as a component of other income, net. The gain was related to the acquisition of a controlling interest in a concert business, which was previously accounted for as an equity-method investment. To calculate the gain, we remeasured the investment to fair value of $35.2 million using the income approach method. The key inputs in these fair value measurements include a future cash flow projection, including revenue, profit margins, and adjustment related to discount for lack of marketability. The key inputs used for these non-recurring fair value measurements are considered Level 3 inputs.

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
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, certified plaintiff’s proposed common issue regarding restoration, and remitted the plaintiff’s proposed common issues regarding his Competition Act and Unjust Enrichment claims 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 declined to hear the appeal. The matter will now return to the trial court for reconsideration, where plaintiff must demonstrate a plausible methodology to determine damages on a class-wide basis and some basis in fact for the common issues related to the Competition Act and Unjust Enrichment claims. 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-motions with the Court of Appeal for Saskatchewan, seeking leave to appeal 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 of Appeal granted leave to appeal to both parties. The appeals are fully briefed. The class certification hearing in the Thompson-Marcial matter took place in March 2024. In April 2024, the court certified common issues in relation to the claims for breach of contract, breach of ticketing legislation, unlawful means conspiracy, negligence and unjust enrichment, but dismissed the claims under the Competition Act and consumer protection legislation. 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, at least 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. 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. During the three-month period ending, and subsequent to, March 31, 2024, we settled certain lawsuits and began settlement discussions in earnest with certain remaining parties. As a result, we have recognized $186 million in the first quarter within selling, general and administrative expenses for the estimated probable losses in excess of our expected probable insurance recoveries. Our assessment of loss, which resulted from a complex series of judgments about future events and uncertainties, are based on estimates and assumptions that have been deemed reasonable by management, but that may prove to be incomplete or inaccurate, and unanticipated events and circumstances may occur that might cause us to change those estimates and assumptions or recognize additional losses. The amount of additional liability, if any, that may result from these or related matters cannot be estimated at this time. 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 effectiveness of our strategies related to these proceedings.

EQUITY

EQUITY	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Equity	Accumulated Other Comprehensive Income (Loss) The following table presents changes in the components of AOCI, net of taxes, for the three months ended March 31, 2024: Cash Flow Hedge Foreign Currency Items Total (in thousands) Balance at December 31, 2023 $ 29,350 $ (1,900) $ 27,450 Other comprehensive income before reclassifications 8,369 4,729 13,098 Amount reclassified from AOCI (4,730) — (4,730) Net other comprehensive income 3,639 4,729 8,368 Balance at March 31, 2024 $ 32,989 $ 2,829 $ 35,818 Earnings Per Share Basic net income per common share is computed by dividing the net income available to common stockholders by the weighted average number of common shares outstanding during the period. The calculation of diluted net income 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. For the three months ended March 31, 2024 and 2023 there were no reconciling items to the weighted average common shares outstanding in the calculation of diluted net 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 2024 2023 Options to purchase shares of common stock 2,301,848 3,237,229 Restricted stock and deferred stock—unvested 4,159,664 3,593,402 Conversion shares related to the convertible senior notes 13,004,660 13,004,660 Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding 19,466,172 19,835,291

SEGMENTS AND REVENUE RECOGNITIO

SEGMENTS AND REVENUE RECOGNITION	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
SEGMENTS AND REVENUE RECOGNITION	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 acquisition expenses (including transaction costs, changes in the fair value of accrued acquisition-related contingent consideration obligations, and acquisition-related severance and compensation), amortization of non-recoupable ticketing contract advances, depreciation and amortization (including goodwill impairment), loss (gain) on disposal of operating assets, and stock-based compensation expense. We also exclude from AOI the impact of estimated or realized liabilities for settlements or damages arising out of the Astroworld matter that exceed our estimated insurance recovery, due to the significant and non-recurring nature of the matter, which involved multiple fatalities and injury claims. Ongoing legal costs associated with defense of these claims, such as attorney fees, are not excluded from AOI. 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. Our capital expenditures below include accruals for amounts incurred but not yet paid for, but are not reduced by reimbursements received from outside parties such as landlords and noncontrolling interest partners or replacements funded by insurance proceeds. 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 months ended March 31, 2024 and 2023: Concerts Ticketing Sponsorship Other & Eliminations Corporate Consolidated (in thousands) Three Months Ended March 31, 2024 Revenue $ 2,879,375 $ 723,178 $ 211,277 $ (14,301) $ — $ 3,799,529 % of Consolidated Revenue 75.8% 19.0% 5.6% (0.4)% Intersegment revenue $ 10,125 $ 4,133 $ 43 $ (14,301) $ — $ — AOI $ 3,072 $ 284,115 $ 129,975 $ (7,209) $ (42,563) $ 367,390 Three Months Ended March 31, 2023 Revenue $ 2,281,212 $ 677,741 $ 170,118 $ (1,681) $ — $ 3,127,390 % of Consolidated Revenue 72.9% 21.7% 5.4% —% Intersegment revenue $ 898 $ 783 $ — $ (1,681) $ — $ — AOI $ 832 $ 271,051 $ 95,531 $ (7,939) $ (39,765) $ 319,710 The following table sets forth the reconciliation of consolidated AOI to operating income for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 (in thousands) AOI $ 367,390 $ 319,710 Acquisition expenses 30,557 13,311 Amortization of non-recoupable ticketing contract advances 24,080 20,363 Depreciation and amortization 132,594 115,185 Loss (gain) on disposal of operating assets (651) 504 Astroworld estimated loss contingencies 185,915 — Stock-based compensation expense 31,402 27,571 Operating income (loss) $ (36,507) $ 142,776 Contract Advances At March 31, 2024 and December 31, 2023, we had ticketing contract advances of $115.1 million and $143.9 million, respectively, recorded in prepaid expenses and $127.6 million and $135.6 million, respectively, recorded in long-term advances on the consolidated balance sheets. Sponsorship Agreements At March 31, 2024, we had contracted sponsorship agreements with terms greater than one year that had approximately $1.6 billion of revenue related to future benefits to be provided by us. We expect to recognize, based on current projections, approximately 32%, 28%, 21% and 19% of this revenue in the remainder of 2024, 2025, 2026 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. The table below summarizes the amount of the preceding December 31 current deferred revenue recognized during the three months ended March 31, 2024 and 2023: Three Months Ended 2024 2023 (in thousands) Concerts $ 657,150 $ 681,380 Ticketing 54,809 34,600 Sponsorship & Advertising 46,487 50,680 $ 758,446 $ 766,660

BASIS OF PRESENTATION AND OTH_2

BASIS OF PRESENTATION AND OTHER INFORMATION (Basis of Presentation and Other Information) (Policies)	3 Months Ended
	Mar. 31, 2024
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 at risk is insufficient to permit it to carry on its activities without additional financial support from its equity owners. 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 March 31, 2024 and December 31, 2023, excluding intercompany balances and allocated goodwill and intangible assets, there were approximately $928 million and $940 million of assets and $590 million and $592 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 March 31, 2024 and December 31, 2023 cash and cash equivalents balance is $1.4 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 March 31, 2024, 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 three months of 2024.
Recent Accounting Pronouncements	Accounting Pronouncements In June 2022, the FASB issued Accounting Standards Update 2022-03, which clarifies guidance for fair value measurement of an equity security subject to a contractual sale restriction and establishes new disclosure requirements for such equity securities. We adopted this guidance on January 1, 2024. The adoption did not and is not expected to have a material impact on our consolidated financial statements. In November 2023, the FASB issued Accounting Standards Update 2023-07, which expands segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. This guidance is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of adopting this guidance.

Fair Value Measures and Disclos

Fair Value Measures and Disclosures (Policies)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurement and Measurement Inputs, Nonrecurring	For the three months ended March 31, 2024, we recorded a gain related to an investment in a nonconsolidated affiliate of $31.8 million as well as a gain related to a warrant on the same investment in a nonconsolidated affiliate of $32.6 million, as a component of other income, net. To calculate the gain on the investment, we remeasured the investment to fair value of $142.2 million using an observable price from orderly transactions for a similar investment of the same issuer. We remeasured the warrant to fair value of $52.6 million using an option pricing model. For the three months ended March 31, 2024, we also recorded a gain related to an investment in a nonconsolidated affiliate of $24.3 million, as a component of other income, net. The gain was related to the acquisition of a controlling interest in a concert business, which was previously accounted for as an equity-method investment. To calculate the gain, we remeasured the investment to fair value of $35.2 million using the income approach method. The key inputs in these fair value measurements include a future cash flow projection, including revenue, profit margins, and adjustment related to discount for lack of marketability. The key inputs used for these non-recurring fair value measurements are considered Level 3 inputs.

LONG-LIVED ASSETS (Long-Lived A

LONG-LIVED ASSETS (Long-Lived Assets) (Tables)	3 Months Ended
	Mar. 31, 2024
LONG-LIVED ASSETS [Abstract]
Property, Plant and Equipment	Property, plant and equipment, net, consisted of the following: March 31, 2024 December 31, 2023 (in thousands) Land, buildings and improvements $ 2,085,796 $ 2,043,595 Computer equipment and capitalized software 903,837 888,065 Furniture and other equipment 651,519 646,966 Construction in progress 318,633 317,028 Property, plant and equipment, gross 3,959,785 3,895,654 Less: accumulated depreciation 1,843,153 1,794,191 Property, plant and equipment, net $ 2,116,632 $ 2,101,463
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 three months ended March 31, 2024: Revenue- Client / Venue management and leaseholds Trademarks Technology and Other (1) Total (in thousands) Balance as of December 31, 2023: Gross carrying amount $ 925,257 $ 583,436 $ 226,788 $ 183,493 $ 20,220 $ 1,939,194 Accumulated amortization (336,625) (251,649) (79,218) (104,036) (6,045) (777,573) Net 588,632 331,787 147,570 79,457 14,175 1,161,621 Gross carrying amount: Acquisitions and additions—current year 57,447 — — — 129 57,576 Acquisitions and additions—prior year (2,479) 3,894 (237) (63) — 1,115 Foreign exchange 4,938 (2,807) (946) 842 (41) 1,986 Other (2) (596) (1,145) (4,202) (869) 47 (6,765) Net change 59,310 (58) (5,385) (90) 135 53,912 Accumulated amortization: Amortization (27,378) (21,851) (6,450) (4,520) (1,806) (62,005) Foreign exchange 311 2,113 569 279 (346) 2,926 Other (2) 596 1,145 4,222 47 319 6,329 Net change (26,471) (18,593) (1,659) (4,194) (1,833) (52,750) Balance as of March 31, 2024: Gross carrying amount 984,567 583,378 221,403 183,403 20,355 1,993,106 Accumulated amortization (363,096) (270,242) (80,877) (108,230) (7,878) (830,323) Net $ 621,471 $ 313,136 $ 140,526 $ 75,173 $ 12,477 $ 1,162,783 (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 2024 acquisitions and additions to definite-lived intangible assets had weighted-average lives as follows: Weighted- Revenue-generating contracts 10 Technology 3 All categories 10
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 three months ended March 31, 2024: Concerts Ticketing Sponsorship Total (in thousands) Balance as of December 31, 2023: Goodwill $ 1,439,579 $ 1,012,530 $ 674,720 $ 3,126,829 Accumulated impairment losses (435,363) — — (435,363) Net 1,004,216 1,012,530 674,720 2,691,466 Acquisitions—current year 2,334 — — 2,334 Acquisitions—prior year 8,772 — — 8,772 Dispositions 88 — — 88 Foreign exchange (10,091) 3,082 3,829 (3,180) Balance as of March 31, 2024: Goodwill 1,440,682 1,015,612 678,549 3,134,843 Accumulated impairment losses (435,363) — — (435,363) Net $ 1,005,319 $ 1,015,612 $ 678,549 $ 2,699,480
[1] Other primarily includes intangible assets for non-compete agreements. Other primarily includes netdowns of fully amortized or impaired assets.

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Significant Components of Operating Lease Expense	The significant components of operating lease expense are as follows: Three Months Ended 2024 2023 (in thousands) Operating lease expense $ 65,736 $ 65,329 Variable and short-term lease expense 25,195 31,342 Sublease income (1,409) (2,188) Net lease expense $ 89,522 $ 94,483
Supplemental Cash Flow Information for Operating Leases	Supplemental cash flow information for our operating leases is as follows: Three Months Ended 2024 2023 (in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 79,177 $ 73,489 Lease assets obtained in exchange for lease obligations, net of terminations $ 10,950 $ 43,636 As of March 31, 2024, we have additional operating leases that have not yet commenced with total lease payments of $113.8 million. These operating leases, which are not included on our consolidated balance sheets, have commencement dates ranging from April 2024 to June 2030 with lease terms ranging from 2 to 30 years.

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments [Table Text Block]	Long-term debt, which includes finance leases, consisted of the following: March 31, 2024 December 31, 2023 (in thousands) Senior Secured Credit Facility: Term loan B 834,718 836,903 Revolving credit facility — 370,000 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 2.0% Convertible Senior Notes due 2025 400,000 400,000 3.125% Convertible Senior Notes due 2029 1,000,000 1,000,000 Other long-term debt 505,980 511,210 Total principal amount 6,265,698 6,643,113 Less: unamortized discounts and debt issuance costs (46,225) (49,701) Total long-term debt, net of unamortized discounts and debt issuance costs 6,219,473 6,593,412 Less: current portion 1,137,262 1,134,386 Total long-term debt, net $ 5,082,211 $ 5,459,026
Schedule of Maturities of Long-term Debt [Table Text Block]	Future maturities of long-term debt at March 31, 2024 are as follows: (in thousands) Remainder of 2024 $ 1,128,810 2025 25,700 2026 1,398,192 2027 2,153,870 2028 1,515,542 Thereafter 43,584 Total $ 6,265,698

FAIR VALUE MEASUREMENTS Fair Va

FAIR VALUE MEASUREMENTS Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
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 March 31, 2024 December 31, 2023 Level 1 Level 2 Total Level 1 Level 2 Total (in thousands) Assets: Cash equivalents $ 608,161 $ — $ 608,161 $ 580,126 $ — $ 580,126 Interest rate swaps — 45,076 45,076 — 39,232 39,232
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 March 31, 2024 December 31, 2023 Level 2 (in thousands) 6.5% Senior Secured Notes due 2027 $ 1,214,040 $ 1,222,608 3.75% Senior Secured Notes due 2028 $ 464,685 $ 469,515 4.875% Senior Notes due 2024 $ 572,177 $ 570,412 5.625% Senior Notes due 2026 $ 297,102 $ 297,606 4.75% Senior Notes due 2027 $ 908,210 $ 913,653 2.0% Convertible Senior Notes due 2025 $ 445,020 $ 423,668 3.125% Convertible Senior Notes due 2029 $ 1,203,590 $ 1,136,160

EQUITY Equity (Tables)

EQUITY Equity (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table presents changes in the components of AOCI, net of taxes, for the three months ended March 31, 2024: Cash Flow Hedge Foreign Currency Items Total (in thousands) Balance at December 31, 2023 $ 29,350 $ (1,900) $ 27,450 Other comprehensive income before reclassifications 8,369 4,729 13,098 Amount reclassified from AOCI (4,730) — (4,730) Net other comprehensive income 3,639 4,729 8,368 Balance at March 31, 2024 $ 32,989 $ 2,829 $ 35,818
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 2024 2023 Options to purchase shares of common stock 2,301,848 3,237,229 Restricted stock and deferred stock—unvested 4,159,664 3,593,402 Conversion shares related to the convertible senior notes 13,004,660 13,004,660 Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding 19,466,172 19,835,291

SEGMENTS AND REVENUE RECOGNIT_2

SEGMENTS AND REVENUE RECOGNITION (Tables)	3 Months Ended
	Mar. 31, 2024
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 months ended March 31, 2024 and 2023: Concerts Ticketing Sponsorship Other & Eliminations Corporate Consolidated (in thousands) Three Months Ended March 31, 2024 Revenue $ 2,879,375 $ 723,178 $ 211,277 $ (14,301) $ — $ 3,799,529 % of Consolidated Revenue 75.8% 19.0% 5.6% (0.4)% Intersegment revenue $ 10,125 $ 4,133 $ 43 $ (14,301) $ — $ — AOI $ 3,072 $ 284,115 $ 129,975 $ (7,209) $ (42,563) $ 367,390 Three Months Ended March 31, 2023 Revenue $ 2,281,212 $ 677,741 $ 170,118 $ (1,681) $ — $ 3,127,390 % of Consolidated Revenue 72.9% 21.7% 5.4% —% Intersegment revenue $ 898 $ 783 $ — $ (1,681) $ — $ — AOI $ 832 $ 271,051 $ 95,531 $ (7,939) $ (39,765) $ 319,710
Reconciliation of AOI to Operating Income (Loss)	The following table sets forth the reconciliation of consolidated AOI to operating income for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 (in thousands) AOI $ 367,390 $ 319,710 Acquisition expenses 30,557 13,311 Amortization of non-recoupable ticketing contract advances 24,080 20,363 Depreciation and amortization 132,594 115,185 Loss (gain) on disposal of operating assets (651) 504 Astroworld estimated loss contingencies 185,915 — Stock-based compensation expense 31,402 27,571 Operating income (loss) $ (36,507) $ 142,776
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. The table below summarizes the amount of the preceding December 31 current deferred revenue recognized during the three months ended March 31, 2024 and 2023: Three Months Ended 2024 2023 (in thousands) Concerts $ 657,150 $ 681,380 Ticketing 54,809 34,600 Sponsorship & Advertising 46,487 50,680 $ 758,446 $ 766,660

BASIS OF PRESENTATION AND OTH_3

BASIS OF PRESENTATION AND OTHER INFORMATION (Basis of Presentation and Other Information) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Total assets	$ 20,030,189,000	$ 19,074,045,000
Cash received that includes the face value of tickets sold on behalf of ticketing clients and their share of service charges.	1,400,000,000	1,500,000,000
Tax benefit recognized for losses incurred	0
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Total assets	928,000,000	940,000,000
Liabilities	$ 590,000,000	$ 592,000,000

LONG-LIVED ASSETS (Property, Pl

LONG-LIVED ASSETS (Property, Plant and Equipment) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
LONG-LIVED ASSETS [Abstract]
Land, buildings and improvements	$ 2,085,796	$ 2,043,595
Computer equipment and capitalized software	903,837	888,065
Furniture and other equipment	651,519	646,966
Construction in progress	318,633	317,028
Property, plant and equipment, gross	3,959,785	3,895,654
Less: accumulated depreciation	1,843,153	1,794,191
Property, plant and equipment, net	$ 2,116,632	$ 2,101,463

LONG-LIVED ASSETS (Definite-liv

LONG-LIVED ASSETS (Definite-lived Intangibles) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Finite-lived Intangible Assets [Roll Forward]
Weighted-average lives of definite-lived intangible assets		10 years
Finite-Lived Intangible Assets, Gross		$ 1,993,106		$ 1,939,194
Finite-Lived Intangible Assets, Accumulated Amortization		(830,323)		(777,573)
Definite-lived intangible assets, net		1,162,783		1,161,621
Finite-Lived Intangible Assets Acquired		57,576
Acquisitions and additions—prior year		1,115
Foreign exchange		1,986
Other (2)	[1]	(6,765)
Net change		53,912
Amortization		(62,005)	$ (57,475)
Foreign exchange		2,926
Other (2)	[1]	6,329
Definite Lived Intangible Assets Total accumulated amortization		$ (52,750)
Revenue-generating contracts [Member]
Finite-lived Intangible Assets [Roll Forward]
Weighted-average lives of definite-lived intangible assets		10 years
Finite-Lived Intangible Assets, Gross		$ 984,567		925,257
Finite-Lived Intangible Assets, Accumulated Amortization		(363,096)		(336,625)
Definite-lived intangible assets, net		621,471		588,632
Finite-Lived Intangible Assets Acquired		57,447
Acquisitions and additions—prior year		(2,479)
Foreign exchange		4,938
Other (2)	[1]	(596)
Net change		59,310
Amortization		(27,378)
Foreign exchange		311
Other (2)	[1]	596
Definite Lived Intangible Assets Total accumulated amortization		(26,471)
Client/vendor relationships [Member]
Finite-lived Intangible Assets [Roll Forward]
Finite-Lived Intangible Assets, Gross		583,378		583,436
Finite-Lived Intangible Assets, Accumulated Amortization		(270,242)		(251,649)
Definite-lived intangible assets, net		313,136		331,787
Finite-Lived Intangible Assets Acquired		0
Acquisitions and additions—prior year		3,894
Foreign exchange		(2,807)
Other (2)	[1]	(1,145)
Net change		(58)
Amortization		(21,851)
Foreign exchange		2,113
Other (2)	[1]	1,145
Definite Lived Intangible Assets Total accumulated amortization		(18,593)
Venue Management & Leaseholds
Finite-lived Intangible Assets [Roll Forward]
Finite-Lived Intangible Assets, Gross		221,403		226,788
Finite-Lived Intangible Assets, Accumulated Amortization		(80,877)		(79,218)
Definite-lived intangible assets, net		140,526		147,570
Finite-Lived Intangible Assets Acquired		0
Acquisitions and additions—prior year		(237)
Foreign exchange		(946)
Other (2)	[1]	(4,202)
Net change		(5,385)
Amortization		(6,450)
Foreign exchange		569
Other (2)	[1]	4,222
Definite Lived Intangible Assets Total accumulated amortization		(1,659)
Trademarks and naming rights [Member]
Finite-lived Intangible Assets [Roll Forward]
Finite-Lived Intangible Assets, Gross		183,403		183,493
Finite-Lived Intangible Assets, Accumulated Amortization		(108,230)		(104,036)
Definite-lived intangible assets, net		75,173		79,457
Finite-Lived Intangible Assets Acquired		0
Acquisitions and additions—prior year		(63)
Foreign exchange		842
Other (2)	[1]	(869)
Net change		(90)
Amortization		(4,520)
Foreign exchange		279
Other (2)	[1]	47
Definite Lived Intangible Assets Total accumulated amortization		$ (4,194)
Technology and Other intangible assets [Member]
Finite-lived Intangible Assets [Roll Forward]
Weighted-average lives of definite-lived intangible assets		3 years
Finite-Lived Intangible Assets, Gross		$ 20,355		20,220
Finite-Lived Intangible Assets, Accumulated Amortization		(7,878)		(6,045)
Definite-lived intangible assets, net		12,477		14,175
Finite-Lived Intangible Assets Acquired		129
Acquisitions and additions—prior year		0
Foreign exchange		(41)
Other (2)		47
Net change		135
Amortization		(1,806)
Foreign exchange		(346)
Other (2)		319
Definite Lived Intangible Assets Total accumulated amortization		(1,833)
Technology and Other intangible assets [Member]
Finite-lived Intangible Assets [Roll Forward]
Finite-Lived Intangible Assets, Gross	[2]	20,355		20,220
Finite-Lived Intangible Assets, Accumulated Amortization	[2]	(7,878)		(6,045)
Definite-lived intangible assets, net	[2]	12,477		$ 14,175
Finite-Lived Intangible Assets Acquired	[2]	129
Acquisitions and additions—prior year	[2]	0
Foreign exchange	[2]	(41)
Other (2)	[1],[2]	47
Net change	[2]	135
Amortization	[2]	(1,806)
Foreign exchange	[2]	(346)
Other (2)	[1],[2]	319
Definite Lived Intangible Assets Total accumulated amortization	[2]	$ (1,833)
[1] Other primarily includes netdowns of fully amortized or impaired assets. 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
	Mar. 31, 2024	Mar. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Amortization of definite-lived intangible assets	$ 62,005	$ 57,475

LONG-LIVED ASSETS (Goodwill) (D

LONG-LIVED ASSETS (Goodwill) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Changes in carrying amount of goodwill [Roll Forward]
Gross goodwill, beginning of period	$ 3,126,829
Accumulated impairment losses	(435,363)
Net goodwill, beginning of period	2,691,466
Acquisition—current year	2,334
Acquisitions—prior year	8,772
Dispositions	88
Foreign exchange	(3,180)
Gross goodwill, end of period	3,134,843
Accumulated impairment losses	(435,363)
Net goodwill, end of period	2,699,480
Concerts [Member]
Changes in carrying amount of goodwill [Roll Forward]
Gross goodwill, beginning of period	1,439,579
Accumulated impairment losses	(435,363)
Net goodwill, beginning of period	1,004,216
Acquisition—current year	2,334
Acquisitions—prior year	8,772
Dispositions	88
Foreign exchange	(10,091)
Gross goodwill, end of period	1,440,682
Accumulated impairment losses	(435,363)
Net goodwill, end of period	1,005,319
Ticketing [Member]
Changes in carrying amount of goodwill [Roll Forward]
Gross goodwill, beginning of period	1,012,530
Accumulated impairment losses	0
Net goodwill, beginning of period	1,012,530
Acquisition—current year	0
Acquisitions—prior year	0
Dispositions	0
Foreign exchange	3,082
Gross goodwill, end of period	1,015,612
Accumulated impairment losses	0
Net goodwill, end of period	1,015,612
Sponsorship and Advertising [Member]
Changes in carrying amount of goodwill [Roll Forward]
Gross goodwill, beginning of period	674,720
Accumulated impairment losses	0
Net goodwill, beginning of period	674,720
Acquisition—current year	0
Acquisitions—prior year	0
Dispositions	0
Foreign exchange	3,829
Gross goodwill, end of period	678,549
Accumulated impairment losses	0
Net goodwill, end of period	$ 678,549

LONG-LIVED ASSETS (Investments

LONG-LIVED ASSETS (Investments in Nonconsolidated Affiliates) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Investments [Abstract]
Investments in nonconsolidated affiliates	$ 513.1	$ 447.5

LEASES (Significant Components

LEASES (Significant Components Of Operating Lease Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Operating lease expense	$ 65,736	$ 65,329
Variable and short-term lease expense	25,195	31,342
Sublease income	(1,409)	(2,188)
Net lease expense	$ 89,522	$ 94,483

LEASES (Supplemental Cash Flow

LEASES (Supplemental Cash Flow Information For Operating Leases) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 79,177	$ 73,489
Lease assets obtained in exchange for lease obligations, net of terminations	$ 10,950	$ 43,636

LEASES (Weighted Average Remain

LEASES (Weighted Average Remaining Lease Term and Discount Rate for Operating Leases) (Details) $ in Millions	Mar. 31, 2024 USD ($)
Lessee, Lease, Description [Line Items]
Total lease payments due under operating leases that have not yet commenced	$ 113.8
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	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total principal amount	$ 6,265,698	$ 6,643,113
Less: unamortized discounts and debt issuance costs	(46,225)	(49,701)
Total long-term debt, net of unamortized discounts and debt issuance costs	6,219,473	6,593,412
Current portion of long-term debt, net	1,137,262	1,134,386
Long-term debt, net	5,082,211	5,459,026
Senior Secured Credit Facility Term loan B [Member]
Debt Instrument [Line Items]
Total principal amount	834,718	836,903
Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Total principal amount	0	370,000
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
2.0% 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	1,000,000
Other Long Term Debt [Member]
Debt Instrument [Line Items]
Total principal amount	$ 505,980	$ 511,210

LONG-TERM DEBT (Future of Matur

LONG-TERM DEBT (Future of Maturities of Long-Term Debt) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Maturities of Long-term Debt [Abstract]
Remainder of 2024	$ 1,128,810
2025	25,700
2026	1,398,192
2027	2,153,870
2028	1,515,542
Thereafter	43,584
Total	$ 6,265,698	$ 6,643,113

LONG-TERM DEBT (Other Long Term

LONG-TERM DEBT (Other Long Term Debt) (Details) - Other Long Term Debt [Member] $ in Thousands	Mar. 31, 2024 USD ($)
United States Venue Management Acquisition
Debt Instrument [Line Items]
Other Long-Term Debt	$ 275,000
Europe Asset Acquisition [Member]
Debt Instrument [Line Items]
Other Long-Term Debt	$ 124,400

FAIR VALUE MEASUREMENTS (Assets

FAIR VALUE MEASUREMENTS (Assets and Liabilities Measured On A Recurring Basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Cash equivalents	$ 608,161	$ 580,126
Recurring [Member]
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Interest Rate Derivative Assets, at Fair Value	45,076	39,232
Level 1 [Member] | Recurring [Member]
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Cash equivalents	608,161	580,126
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	$ 45,076	$ 39,232

FAIR VALUE MEASUREMENTS (Fair V

FAIR VALUE MEASUREMENTS (Fair Value of Debt) (Details) - Level 2 [Member] - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
6.5% Senior Secured Notes Due 2027 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	$ 1,214,040	$ 1,222,608
3.75% Senior Secured Notes Due 2028 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	464,685	469,515
4.875% Senior Notes Due 2024 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	572,177	570,412
5.625% Senior Notes Due 2026 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	297,102	297,606
4.75% Senior Notes due 2027 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	908,210	913,653
2.0% Convertible Senior Notes Due 2025 [Member]
Debt Fair Value [Line Items]
Estimated fair values of convertible senior notes	445,020	423,668
3.125% Convertible Senior Notes Due 2029
Debt Fair Value [Line Items]
Estimated fair values of convertible senior notes	$ 1,203,590	$ 1,136,160

FAIR VALUE MEASUREMENTS (Fair_2

FAIR VALUE MEASUREMENTS (Fair Value Measured On A Non-Recurring Basis) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Sponsorship and Advertising [Member] | Cost Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Nonrecurring Gain	$ (31,800)
Sponsorship and Advertising [Member] | Cost Investments | Warrant [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Nonrecurring Gain	(32,600)
Concerts [Member] | Equity Method Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Nonrecurring Gain	(24,300)
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Sponsorship and Advertising [Member] | Cost Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in Affiliates, Subsidiaries, Associates, and Joint Ventures, Fair Value Disclosure	142,200
Investments in Nonconsolidated Affiliates, Warrant Fair Value	52,600
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Concerts [Member] | Equity Method Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in Affiliates, Subsidiaries, Associates, and Joint Ventures, Fair Value Disclosure	$ 35,200

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES (Details) - Astroworld Festival $ in Thousands	Mar. 31, 2024 USD ($) numberOfClaims	Mar. 31, 2023 USD ($)	Nov. 05, 2021
Loss Contingencies [Line Items]
Astroworld Fatal Injuries			10
Loss Contingency, Pending Claims, Number | numberOfClaims	450
Astroworld estimated loss contingencies | $	$ 185,915	$ 0

EQUITY (Accumulated Other Compr

EQUITY (Accumulated Other Comprehensive Loss) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2023	$ 27,450
Other comprehensive income before reclassifications	13,098
Amount reclassified from AOCI	(4,730)
Net other comprehensive income	8,368
Balance at March 31, 2024	35,818
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2023	29,350
Other comprehensive income before reclassifications	8,369
Amount reclassified from AOCI	(4,730)
Net other comprehensive income	3,639
Balance at March 31, 2024	32,989
Foreign Currency Items [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2023	(1,900)
Other comprehensive income before reclassifications	4,729
Amount reclassified from AOCI	0
Net other comprehensive income	4,729
Balance at March 31, 2024	$ 2,829

EQUITY (Antidilutive Securities

EQUITY (Antidilutive Securities Excluded from Computation of Earnings per Share) (Details) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding	19,466,172	19,835,291
Options to purchase shares of common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding	2,301,848	3,237,229
Restricted and deferred stock awards—unvested [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding	4,159,664	3,593,402
Conversion shares related to the convertible senior notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding	13,004,660	13,004,660

SEGMENTS AND REVENUE RECOGNIT_3

SEGMENTS AND REVENUE RECOGNITION Segment Results of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Revenue	$ 3,799,529	$ 3,127,390
AOI	367,390	319,710
Operating Segments [Member] | Concerts [Member]
Segment Reporting Information [Line Items]
Revenue	$ 2,879,375	$ 2,281,212
Percentage of Concert revenue to consolidated revenue	75.80%	72.90%
AOI	$ 3,072	$ 832
Operating Segments [Member] | Ticketing [Member]
Segment Reporting Information [Line Items]
Revenue	$ 723,178	$ 677,741
Percentage of Ticketing revenue to consolidated revenue	19%	21.70%
AOI	$ 284,115	$ 271,051
Operating Segments [Member] | Sponsorship and Advertising [Member]
Segment Reporting Information [Line Items]
Revenue	$ 211,277	$ 170,118
Percentage of Sponsorship & Advertising revenue to consolidated revenue	5.60%	5.40%
AOI	$ 129,975	$ 95,531
Operating Segments [Member] | Other and Eliminations [Member]
Segment Reporting Information [Line Items]
AOI		(7,939)
Operating Segments [Member] | Corporate Segment
Segment Reporting Information [Line Items]
Revenue	0	0
AOI	(42,563)	(39,765)
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	(14,301)	(1,681)
Intersegment Eliminations [Member] | Concerts [Member]
Segment Reporting Information [Line Items]
Revenue	10,125	898
Intersegment Eliminations [Member] | Ticketing [Member]
Segment Reporting Information [Line Items]
Revenue	4,133	783
Intersegment Eliminations [Member] | Sponsorship and Advertising [Member]
Segment Reporting Information [Line Items]
Revenue	43	0
Intersegment Eliminations [Member] | Other and Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	$ (14,301)	$ (1,681)
Percentage of Other and Eliminations to Total Revenue	(0.4)	—
AOI	$ (7,209)
Intersegment Eliminations [Member] | Corporate Segment
Segment Reporting Information [Line Items]
Revenue	$ 0	$ 0

SEGMENTS AND REVENUE RECOGNIT_4

SEGMENTS AND REVENUE RECOGNITION Reconciliation of AOI (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Reconciliation of AOI [Line Items]
AOI	$ 367,390	$ 319,710
Acquisition expenses	30,557	13,311
Amortization of non-recoupable ticketing contract advances	24,080	20,363
Depreciation and amortization	132,594	115,185
Loss (gain) on disposal of operating assets	(651)	504
Stock-based compensation expense	31,402	27,571
Operating income (loss)	(36,507)	142,776
Astroworld Festival
Reconciliation of AOI [Line Items]
Astroworld estimated loss contingencies	$ 185,915	$ 0

SEGMENTS AND REVENUE RECOGNIT_5

SEGMENTS AND REVENUE RECOGNITION Ticketing Contract Advances (Details) - Ticketing [Member] - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Prepaid Expenses [Member]
Capitalized Contract Cost [Line Items]
Ticketing contract advances	$ 115.1	$ 143.9
Other Noncurrent Assets [Member]
Capitalized Contract Cost [Line Items]
Ticketing contract advances	$ 127.6	$ 135.6

SEGMENTS AND REVENUE RECOGNIT_6

SEGMENTS AND REVENUE RECOGNITION Performance Obligation (Details) - Sponsorship and Advertising [Member] $ in Billions	Mar. 31, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue related to future benefits to be provided by the Company	$ 1.6
Percentage of revenue on contracts to be recognized during the remainder of current year	32%
Percentage of revenue on contracts to be recognized next year	28%
Percentage of revenue on contracts to be recognized in two years	21%
Percentage of revenue to be recognized on contracts thereafter	19%

SEGMENTS AND REVENUE RECOGNIT_7

SEGMENTS AND REVENUE RECOGNITION Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, current	$ 5,025,357		$ 3,398,028
Recognition of deferred revenue	758,446	$ 766,660
Concerts [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognition of deferred revenue	657,150	681,380
Ticketing [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognition of deferred revenue	54,809	34,600
Sponsorship and Advertising [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognition of deferred revenue	$ 46,487	$ 50,680