Live Nation Entertainment (LYV) 10-Q 30 Jul 24 2024 Q2 Quarterly report Financial data

DOCUMENT

DOCUMENT - shares	6 Months Ended
	Jun. 30, 2024	Jul. 23, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 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	Q2
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		232,113,741

CONSOLIDATED BALANCE SHEETS (UN

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 6,398,722	$ 6,231,866
Accounts receivable, less allowance of $81,039 and $82,350, respectively	2,464,042	2,069,054
Prepaid expenses	1,671,514	1,147,581
Restricted cash	10,818	7,090
Other current assets	139,037	122,163
Total current assets	10,684,133	9,577,754
Property, plant and equipment, net	2,235,526	2,101,463
Operating lease assets	1,587,875	1,606,389
Intangible assets
Definite-lived intangible assets, net	1,094,666	1,161,621
Indefinite-lived intangible assets, net	380,847	377,349
Goodwill	2,664,149	2,691,466
Long-term advances	646,603	623,154
Other long-term assets	1,160,185	934,849
Total assets	20,453,984	19,074,045
Current liabilities
Accounts payable, client accounts	1,856,443	1,866,864
Accounts payable	250,917	267,493
Accrued expenses	3,358,819	3,006,281
Deferred revenue	4,798,752	3,398,028
Current portion of long-term debt, net	1,137,272	1,134,386
Current portion of operating lease liabilities	171,907	158,421
Other current liabilities	53,039	128,430
Total current liabilities	11,627,149	9,959,903
Long-term debt, net	5,080,802	5,459,026
Long-term operating lease liabilities	1,641,325	1,686,091
Other long-term liabilities	546,636	488,159
Commitments and contingent liabilities (see Note 6)
Redeemable noncontrolling interests	1,007,099	893,709
Stockholders' equity
Common stock	2,307	2,298
Additional paid-in capital	2,240,759	2,367,918
Accumulated deficit	(2,156,712)	(2,407,949)
Cost of shares held in treasury	(6,865)	(6,865)
Accumulated other comprehensive income (loss)	(122,756)	27,450
Total Live Nation stockholders' equity	(43,267)	(17,148)
Noncontrolling interests	594,240	604,305
Total equity	550,973	587,157
Total liabilities and equity	$ 20,453,984	$ 19,074,045

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets
Allowance for doubtful accounts	$ 81,039	$ 82,350

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenue	$ 6,023,416	$ 5,630,723	$ 9,822,945	$ 8,758,113
Operating expenses:
Direct operating expenses	4,408,209	4,164,778	7,054,666	6,280,367
Selling, general and administrative expenses	926,222	868,595	1,907,781	1,558,916
Depreciation and amortization	137,729	136,514	270,323	251,699
Gain (Loss) on Disposition of Other Assets	779	7,013	1,430	6,509
Corporate expenses	86,216	81,478	162,293	144,493
Operating income	465,819	386,371	429,312	529,147
Interest expense	79,970	81,995	160,661	171,210
Loss on extinguishment of debt	0	0	0	18,366
Interest income	(44,425)	(56,452)	(87,682)	(96,765)
Equity in earnings of nonconsolidated affiliates	(5,376)	(5,558)	(5,460)	(9,665)
Other expense (income), net	(20,742)	(6,599)	(97,796)	4,984
Income before income taxes	456,392	372,985	459,589	441,017
Income tax expense	80,164	41,648	115,578	65,488
Net income	376,228	331,337	344,011	375,529
Net income attributable to noncontrolling interests	78,258	37,655	92,774	85,016
Net income attributable to common stockholders of Live Nation	$ 297,970	$ 293,682	$ 251,237	$ 290,513
Basic net income per common share available to common stockholders of Live Nation	$ 1.05	$ 1.04	$ 0.52	$ 0.78
Diluted net income per common share available to common stockholders of Live Nation	$ 1.03	$ 1.02	$ 0.51	$ 0.78
Weighted average common shares outstanding:
Basic	229,921,527	228,536,179	229,696,356	228,350,537
Diluted	245,002,995	243,660,186	232,024,314	230,490,937
Reconciliation to net income (loss) available to common stockholders of Live Nation:
Net income attributable to common stockholders of Live Nation	$ 297,970	$ 293,682	$ 251,237	$ 290,513
Accretion of redeemable noncontrolling interests	(57,325)	(56,621)	(132,435)	(111,554)
Net income available to common stockholders of Live Nation—basic	240,645	237,061	118,802	178,959
Convertible debt interest, net of tax	10,790	10,804	0	0
Net income available to common stockholders of Live Nation—diluted	$ 251,435	$ 247,865	$ 118,802	$ 178,959

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 376,228	$ 331,337	$ 344,011	$ 375,529
Other comprehensive income, net of tax:
Unrealized gain (loss) on cash flow hedge	3,013	11,658	11,382	7,709
Realized gain on cash flow hedge	(4,762)	(4,256)	(9,492)	(7,804)
Foreign currency translation adjustments	(156,825)	69,276	(152,096)	149,424
Comprehensive income	217,654	408,015	193,805	524,858
Comprehensive income attributable to noncontrolling interests	78,258	37,655	92,774	85,016
Comprehensive income attributable to common stockholders of Live Nation	$ 139,396	$ 370,360	$ 101,031	$ 439,842

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	55,334		55,334
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)		217,501
Common stock issued under stock plans, net of shares withheld for employee taxes	(8,464)	$ 2	(8,466)
Exercise of stock options, net of shares withheld for option cost and employee taxes (in shares)		211,841
Exercise of stock options	4,999	$ 2	4,997
Conversion of convertible debt (in shares)		156,750
Conversion of convertible debt	2
Capped call transactions for 3.125% convertible senior notes due 2029	(75,500)	$ 0	75,500
Repurchase of 2.5% convertible senior notes due 2023	(27,325)		(27,327)
Acquisitions	67,243						67,243
Purchases of noncontrolling interests	(124,738)		(97,648)				(27,090)
Redeemable noncontrolling interests fair value adjustments	(111,046)		(111,046)
Contributions received	14,631						14,631
Cash distributions	(74,693)						(74,693)
Other	54,320		0				54,320
Comprehensive income (loss):
Net income (loss)	353,542			290,513			63,029
Unrealized gain (loss) on cash flow hedge	7,709
Realized gain on cash flow hedge	(7,804)
Foreign currency translation adjustments	149,424							$ 0
Balances at Jun. 30, 2023	371,429	$ 2,291	2,438,660	(2,680,716)	(6,865)	59,253	558,806
Balances (in shares) at Jun. 30, 2023		229,084,194
Balances at Dec. 31, 2022								669,766
Redeemable Noncontrolling Interests [Roll Forward]
Acquisitions								26,296
Purchases of noncontrolling interests								659
Redeemable noncontrolling interests fair value adjustments								111,046
Contribution received								85
Cash distributions								(62,916)
Other								(13,404)
Comprehensive income (loss):
Net income (loss)								21,987
Balances at Jun. 30, 2023								753,519
Balances (in shares) at Mar. 31, 2023		228,859,789
Balances at Mar. 31, 2023	79,146	$ 2,289	2,535,553	(2,974,398)	(6,865)	(17,425)	539,992
Equity [Roll Forward]
Non-cash and stock-based compensation	27,763		27,763
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)		32,526
Common stock issued under stock plans, net of shares withheld for employee taxes	(515)	$ 1	(516)
Exercise of stock options, net of shares withheld for option cost and employee taxes (in shares)		191,879
Exercise of stock options	4,005	$ 1	4,004
Acquisitions	8,777						8,777
Purchases of noncontrolling interests	(87,460)		(71,776)				(15,684)
Redeemable noncontrolling interests fair value adjustments	(56,368)		(56,368)
Contributions received	8,772						8,772
Cash distributions	(30,484)						(30,484)
Other	26,295						26,295
Comprehensive income (loss):
Net income (loss)	314,820			293,682			21,138
Unrealized gain (loss) on cash flow hedge	11,658
Realized gain on cash flow hedge	(4,256)
Foreign currency translation adjustments	69,276							0
Balances at Jun. 30, 2023	371,429	$ 2,291	2,438,660	(2,680,716)	(6,865)	59,253	558,806
Balances (in shares) at Jun. 30, 2023		229,084,194
Balances at Mar. 31, 2023								710,350
Redeemable Noncontrolling Interests [Roll Forward]
Acquisitions								13,988
Purchases of noncontrolling interests								659
Redeemable noncontrolling interests fair value adjustments								56,368
Contribution received								0
Cash distributions								(52,210)
Other								7,847
Comprehensive income (loss):
Net income (loss)								16,517
Balances at Jun. 30, 2023								753,519
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]
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period		0
Non-cash and stock-based compensation	63,140		63,140
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)		499,337
Common stock issued under stock plans, net of shares withheld for employee taxes	(38,551)	$ 5	(38,556)
Exercise of stock options, net of shares withheld for option cost and employee taxes (in shares)		427,365
Exercise of stock options	12,819	$ 4	12,815
Capped call transactions for 3.125% convertible senior notes due 2029	0
Acquisitions	37,378						37,378
Purchases of noncontrolling interests	(44,593)		(29,329)				(15,264)
Redeemable noncontrolling interests fair value adjustments	(135,229)		(135,229)
Contributions received	0						0
Cash distributions	(104,227)						(104,227)
Other	762		0				762
Comprehensive income (loss):
Net income (loss)	322,523			251,237			71,286
Unrealized gain (loss) on cash flow hedge	11,382					11,382
Realized gain on cash flow hedge	(9,492)					(9,492)
Foreign currency translation adjustments	(152,096)					(152,096)	0	0
Balances at Jun. 30, 2024	550,973	$ 2,307	2,240,759	(2,156,712)	(6,865)	(122,756)	594,240
Balances (in shares) at Jun. 30, 2024		230,711,943
Balances at Dec. 31, 2023	893,709							893,709
Redeemable Noncontrolling Interests [Roll Forward]
Acquisitions								35,772
Purchases of noncontrolling interests								(11,013)
Redeemable noncontrolling interests fair value adjustments								135,817
Contribution received								28
Cash distributions								(67,681)
Other								(1,021)
Comprehensive income (loss):
Net income (loss)								21,488
Balances at Jun. 30, 2024	1,007,099							1,007,099
Balances (in shares) at Mar. 31, 2024		230,197,707
Balances at Mar. 31, 2024	469,187	$ 2,302	2,308,595	(2,454,682)	(6,865)	35,818	584,019
Equity [Roll Forward]
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period		0
Non-cash and stock-based compensation	26,475		26,475
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)		151,235
Common stock issued under stock plans, net of shares withheld for employee taxes	(13,068)	$ 2	(13,070)
Exercise of stock options, net of shares withheld for option cost and employee taxes (in shares)		363,001
Exercise of stock options	11,032	$ 3	11,029
Acquisitions	20,691						20,691
Purchases of noncontrolling interests	(46,844)		(31,589)				(15,255)
Redeemable noncontrolling interests fair value adjustments	(60,681)		(60,681)
Cash distributions	(55,395)						(55,395)
Other	(1,344)		0				(1,344)
Comprehensive income (loss):
Net income (loss)	359,494			297,970			61,524
Unrealized gain (loss) on cash flow hedge	3,013					3,013
Realized gain on cash flow hedge	(4,762)					(4,762)
Foreign currency translation adjustments	(156,825)					(156,825)		0
Balances at Jun. 30, 2024	550,973	$ 2,307	$ 2,240,759	$ (2,156,712)	$ (6,865)	$ (122,756)	$ 594,240
Balances (in shares) at Jun. 30, 2024		230,711,943
Balances at Mar. 31, 2024								983,550
Redeemable Noncontrolling Interests [Roll Forward]
Acquisitions								5,091
Purchases of noncontrolling interests								1,203
Redeemable noncontrolling interests fair value adjustments								60,851
Cash distributions								(60,351)
Other								21
Comprehensive income (loss):
Net income (loss)								16,734
Balances at Jun. 30, 2024	$ 1,007,099							$ 1,007,099

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 344,011	$ 375,529
Reconciling items:
Depreciation	146,168	127,670
Amortization	124,155	124,029
Amortization of non-recoupable ticketing contract advances	45,241	41,597
Deferred income tax expense (benefit)	(6,078)	5,430
Amortization of debt issuance costs and discounts	7,881	8,949
Loss on extinguishment of debt	0	18,366
Stock-based compensation expense	59,738	55,333
Unrealized changes in fair value of contingent consideration	(28,573)	20,100
Gain on mark-to-market of investments in nonconsolidated affiliates	(100,153)	(26,408)
Equity in losses of nonconsolidated affiliates, net of distributions	5,671	9,019
Provision for uncollectible accounts receivable	(9,806)	20,120
Other, net	(11,972)	(512)
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:
Increase in accounts receivable	(436,458)	(395,516)
Increase in prepaid expenses and other assets	(646,147)	(836,672)
Increase in accounts payable, accrued expenses and other liabilities	391,059	298,718
Increase in deferred revenue	1,516,217	1,801,097
Net cash provided by operating activities	1,400,954	1,646,849
CASH FLOWS FROM INVESTING ACTIVITIES
Advances of notes receivable	(75,973)	(118,973)
Collections of notes receivable	21,290	8,286
Investments made in nonconsolidated affiliates	(30,593)	(26,336)
Purchases of property, plant and equipment	(333,689)	(202,531)
Cash acquired from (paid for) acquisitions, net of cash paid (acquired)	(17,579)	69,359
Purchases of intangible assets	(5,390)	(35,088)
Other, net	7,529	6,077
Net cash used in investing activities	(434,405)	(299,206)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from long-term debt, net of debt issuance costs	886	986,766
Payments on long-term debt	(377,132)	(614,030)
Contributions from noncontrolling interests	28	14,716
Distributions to noncontrolling interests	(171,908)	(137,609)
Purchases of noncontrolling interests, net	(47,980)	(88,239)
Proceeds from sale of common stock, net of issuance costs	0	(75,500)
Proceeds from exercise of stock options	12,819	4,999
Taxes paid for net share settlement of equity awards	(38,551)	(8,464)
Payments for deferred and contingent consideration	(20,390)	(9,440)
Other, net	(748)	315
Net cash provided by (used in) financing activities	(642,976)	73,514
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(152,989)	103,111
Net increase in cash, cash equivalents, and restricted cash	170,584	1,524,268
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	$ 6,409,540	$ 7,136,642

BASIS OF PRESENTATION AND OTHER

BASIS OF PRESENTATION AND OTHER INFORMATION	6 Months Ended
	Jun. 30, 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 June 30, 2024 and December 31, 2023, excluding intercompany balances and allocated goodwill and intangible assets, there were approximately $842 million and $940 million of assets and $560 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 June 30, 2024 and December 31, 2023 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 June 30, 2024, we continued to maintain a full valuation allowance against our net deferred tax assets in certain jurisdictions, including the United States, due to cumulative pre-tax losses. As a result of the valuation allowances, no tax benefits have been recognized for any losses incurred in those tax jurisdictions for the first six 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	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Property, Plant, and Equipment and Intangible 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: June 30, 2024 December 31, 2023 (in thousands) Land, buildings and improvements $ 2,161,329 $ 2,043,595 Computer equipment and capitalized software 913,253 888,065 Furniture and other equipment 664,678 646,966 Construction in progress 373,500 317,028 Property, plant and equipment, gross 4,112,760 3,895,654 Less: accumulated depreciation 1,877,234 1,794,191 Property, plant and equipment, net $ 2,235,526 $ 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 six months ended June 30, 2024: Revenue- Client / Venue management 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 68,024 27,318 1,256 — 264 96,862 Acquisitions and additions—prior year 826 4,066 3 (2) — 4,893 Foreign exchange (41,116) (14,820) (2,936) (6,126) (104) (65,102) Other (2) (4,959) (10,132) (11,973) (383) (147) (27,594) Net change 22,775 6,432 (13,650) (6,511) 13 9,059 Accumulated amortization: Amortization (55,242) (41,580) (13,775) (9,282) (3,860) (123,739) Foreign exchange 11,990 5,273 941 2,101 7 20,312 Other (2) 4,694 10,132 11,973 324 290 27,413 Net change (38,558) (26,175) (861) (6,857) (3,563) (76,014) Balance as of June 30, 2024: Gross carrying amount 948,032 589,868 213,138 176,982 20,233 1,948,253 Accumulated amortization (375,183) (277,824) (80,079) (110,893) (9,608) (853,587) Net $ 572,849 $ 312,044 $ 133,059 $ 66,089 $ 10,625 $ 1,094,666 (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 acquisitions of a festival promotion business and an artist management business both located in the United States. The 2024 acquisitions and additions to definite-lived intangible assets had weighted-average lives as follows: Weighted- Revenue-generating contracts 9 Client/vendor relationships 5 Venue management 3 Technology 3 All categories 8 Amortization of definite-lived intangible assets for the three months ended June 30, 2024 and 2023 was $61.7 million and $55.2 million, respectively, and for the six months ended June 30, 2024 and 2023 was $123.7 million and $112.7 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 six months ended June 30, 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 18,732 — — 18,732 Acquisitions—prior year 4,201 — — 4,201 Foreign exchange (11,556) (20,445) (18,249) (50,250) Balance as of June 30, 2024: Goodwill 1,450,956 992,085 656,471 3,099,512 Accumulated impairment losses (435,363) — — (435,363) Net $ 1,015,593 $ 992,085 $ 656,471 $ 2,664,149 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 June 30, 2024 and December 31, 2023, we had investments in nonconsolidated affiliates of $548.4 million and $447.5 million, respectively, included in other long-term assets on our consolidated balance sheets.

LEASES

LEASES	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
LEASES	The significant components of operating lease expense are as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 (in thousands) Operating lease expense $ 66,772 $ 76,999 $ 132,508 $ 142,328 Variable and short-term lease expense 48,717 40,963 73,912 72,305 Sublease income (1,704) (2,424) (3,113) (4,612) Net lease expense $ 113,785 $ 115,538 $ 203,307 $ 210,021 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: Six Months Ended 2024 2023 (in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 149,049 $ 137,924 Lease assets obtained in exchange for lease obligations, net of terminations $ 54,947 $ 87,505 As of June 30, 2024, we have additional operating leases that have not yet commenced, with total lease payments of $137.1 million. These operating leases, which are not included on our consolidated balance sheets, have commencement dates ranging from July 2024 to June 2030 with lease terms ranging from 2 to 28 years.

LONG-TERM DEBT

LONG-TERM DEBT	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
LONG-TERM DEBT	Long-term debt, which includes finance leases, consisted of the following: June 30, 2024 December 31, 2023 (in thousands) Senior Secured Credit Facility: Term loan B $ 832,533 $ 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 debt 503,293 511,210 Total principal amount 6,260,826 6,643,113 Less: unamortized discounts and debt issuance costs (42,752) (49,701) Total debt, net of unamortized discounts and debt issuance costs 6,218,074 6,593,412 Less: current portion 1,137,272 1,134,386 Total long-term debt, net $ 5,080,802 $ 5,459,026 Future maturities of long-term debt at June 30, 2024 are as follows: (in thousands) Remainder of 2024 $ 1,124,827 2025 26,146 2026 1,398,114 2027 2,153,784 2028 1,515,675 Thereafter 42,280 Total $ 6,260,826 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 Debt As of June 30, 2024, other debt includes $275.0 million for a note due in 2026 related to an acquisition of a venue management business in the United States during the first quarter of 2023 and $123.3 million for a Euro-denominated note due in 2024 related to a venue management business located in Europe.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2024
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 June 30, 2024 December 31, 2023 Level 1 Level 2 Total Level 1 Level 2 Total (in thousands) Assets: Cash equivalents $ 963,670 $ — $ 963,670 $ 580,126 $ — $ 580,126 Interest rate swaps $ — $ 42,983 $ 42,983 $ — $ 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 June 30, 2024 December 31, 2023 Level 2 (in thousands) 6.5% Senior Secured Notes due 2027 $ 1,211,256 $ 1,222,608 3.75% Senior Secured Notes due 2028 $ 466,535 $ 469,515 4.875% Senior Notes due 2024 $ 573,223 $ 570,412 5.625% Senior Notes due 2026 $ 296,802 $ 297,606 4.75% Senior Notes due 2027 $ 911,155 $ 913,653 2.0% Convertible Senior Notes due 2025 $ 413,808 $ 423,668 3.125% Convertible Senior Notes due 2029 $ 1,113,350 $ 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 six months ended June 30, 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 six months ended June 30, 2024, we also recorded a gain related to an investment in a nonconsolidated affiliate of $24.4 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 $35.9 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. For the six months ended June 30, 2023, there were no significant non-recurring fair value measurements.

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES Litigation Consumer Class Actions The putative class action lawsuits filed against Live Nation and Ticketmaster in Canada in 2018 making certain allegations regarding Ticketmaster conduct that allegedly encourages the resale of tickets on secondary ticket exchanges have progressed materially. We no longer believe these matters pose a risk of material loss to our financial position, cash flows, or results of operations. 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. During the three and six months ended June 30, 2024, all remaining wrongful death lawsuits were settled, and we began settlement discussions in earnest with certain remaining parties with injury claims. As a result, we have recognized $94 million and $280 million for the three and six months ended June 30, 2024, respectively, within selling, general and administrative expenses for the estimated probable losses in excess of our expected insurance recoveries. The amounts recorded as of June 30, 2024 represent our best estimate of the ultimate loss associated with all remaining lawsuits and claims. Our assessment of loss, which resulted from a complex series of judgments about future events and uncertainties, is 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. Department of Justice Complaint In May 2024, the United States Department of Justice, Antitrust Division, together with the attorneys general of twenty-nine states plus the District of Columbia, filed a civil antitrust complaint (the “Complaint”) against Live Nation Entertainment, Inc. and Ticketmaster in the United States District Court for the Southern District of New York alleging violations of various federal and state laws pertaining to antitrust, competition, unlawful or unfair business practices, restraint of trade, and other causes of action. The Complaint requests various forms of relief for the alleged violations, including without limitation the divestiture of Ticketmaster by the Company, cancellation of certain ticketing contracts, enjoining the Company from engaging in anticompetitive practices, and other forms of relief. Certain states also seek unspecified damages for their citizens. The Company believes it has substantial defenses to the lawsuit and will vigorously defend itself. 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	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Equity	EQUITY Accumulated Other Comprehensive Income (Loss) The following table presents changes in the components of AOCI, net of taxes, for the six months ended June 30, 2024: Cash Flow Hedge Foreign Currency Items Total (in thousands) Balance at December 31, 2023 $ 29,350 $ (1,900) $ 27,450 Other comprehensive income (loss) before reclassifications 11,382 (152,096) (140,714) Amount reclassified from AOCI (9,492) — (9,492) Net other comprehensive income (loss) 1,890 (152,096) (150,206) Balance at June 30, 2024 $ 31,240 $ (153,996) $ (122,756) 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 Six Months Ended 2024 2023 2024 2023 Weighted average common shares—basic 229,921,527 228,536,179 229,696,356 228,350,537 Effect of dilutive securities: Stock options and restricted stock 2,076,808 2,119,347 2,327,958 2,140,400 Convertible senior notes 13,004,660 13,004,660 — — Weighted average common shares—diluted 245,002,995 243,660,186 232,024,314 230,490,937 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 Six Months Ended 2024 2023 2024 2023 Options to purchase shares of common stock 3,750 3,750 3,750 3,750 Restricted stock and deferred stock—unvested 2,464,785 2,739,954 2,743,310 2,736,173 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 2,468,535 2,743,704 15,751,720 15,744,583

SEGMENTS AND REVENUE RECOGNITIO

SEGMENTS AND REVENUE RECOGNITION	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
SEGMENTS AND REVENUE RECOGNITION	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 ongoing legal costs stemming from the Ticketmaster merger, 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. 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 and six months ended June 30, 2024 and 2023: Concerts Ticketing Sponsorship Other & Eliminations Corporate Consolidated (in thousands) Three Months Ended June 30, 2024 Revenue $ 4,987,039 $ 730,677 $ 312,234 $ (6,534) $ — $ 6,023,416 % of Consolidated Revenue 82.8% 12.1% 5.2% (0.1)% Intersegment revenue $ 2,278 $ 4,124 $ 132 $ (6,534) $ — $ — AOI $ 270,694 $ 292,533 $ 222,622 $ (8,171) $ (61,447) $ 716,231 Three Months Ended June 30, 2023 Revenue $ 4,633,291 $ 709,342 $ 302,859 $ (14,769) $ — $ 5,630,723 % of Consolidated Revenue 82.3% 12.6% 5.4% (0.3)% Intersegment revenue $ 3,300 $ 2,397 $ — $ (5,697) $ — $ — AOI $ 168,058 $ 292,685 $ 203,139 $ (18,142) $ (56,043) $ 589,697 Six Months Ended June 30, 2024 Revenue $ 7,866,414 $ 1,453,855 $ 523,511 $ (20,835) $ — $ 9,822,945 % of Consolidated Revenue 80.1% 14.8% 5.3% (0.2)% Intersegment revenue $ 12,403 $ 8,257 $ 175 $ (20,835) $ — $ — AOI $ 273,766 $ 576,648 $ 352,597 $ (15,380) $ (104,010) $ 1,083,621 Six Months Ended June 30, 2023 Revenue $ 6,914,503 $ 1,387,083 $ 472,977 $ (16,450) $ — $ 8,758,113 % of Consolidated Revenue 78.9% 15.8% 5.4% (0.1)% Intersegment revenue $ 4,198 $ 3,180 $ — $ (7,378) $ — $ — AOI $ 168,890 $ 563,736 $ 298,670 $ (26,081) $ (95,808) $ 909,407 The following table sets forth the reconciliation of consolidated AOI to operating income for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in thousands) AOI $ 716,231 $ 589,697 $ 1,083,621 $ 909,407 Acquisition expenses (30,035) 24,829 522 38,140 Amortization of non-recoupable ticketing contract advances 21,161 21,234 45,241 41,597 Depreciation and amortization 137,729 136,514 270,323 251,699 Gain on sale of operating assets (779) (7,013) (1,430) (6,509) Astroworld estimated loss contingencies 94,000 — 279,915 — Stock-based compensation expense 28,336 27,762 59,738 55,333 Operating income $ 465,819 $ 386,371 $ 429,312 $ 529,147 Contract Advances At June 30, 2024 and December 31, 2023, we had ticketing contract advances of $122.0 million and $143.9 million, respectively, recorded in prepaid expenses and $122.0 million and $135.6 million, respectively, recorded in long-term advances on the consolidated balance sheets. Sponsorship Agreements At June 30, 2024, we had contracted sponsorship agreements with terms greater than one year that had approximately $1.7 billion of revenue related to future benefits to be provided by us. We expect to recognize, based on current projections, approximately 24%, 30%, 23% and 23% 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 and six months ended June 30, 2024 and 2023: Three Months Ended Six Months Ended 2024 2023 2024 2023 (in thousands) Concerts $ 1,195,678 $ 1,133,662 $ 1,852,828 $ 1,815,042 Ticketing 60,513 61,641 115,323 96,241 Sponsorship & Advertising 40,188 57,247 86,674 107,927 $ 1,296,379 $ 1,252,550 $ 2,054,825 $ 2,019,210

BASIS OF PRESENTATION AND OTH_2

BASIS OF PRESENTATION AND OTHER INFORMATION (Basis of Presentation and Other Information) (Policies)	6 Months Ended
	Jun. 30, 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 June 30, 2024 and December 31, 2023, excluding intercompany balances and allocated goodwill and intangible assets, there were approximately $842 million and $940 million of assets and $560 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 June 30, 2024 and December 31, 2023 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 June 30, 2024, we continued to maintain a full valuation allowance against our net deferred tax assets in certain jurisdictions, including the United States, due to cumulative pre-tax losses. As a result of the valuation allowances, no tax benefits have been recognized for any losses incurred in those tax jurisdictions for the first six 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.

LONG-LIVED ASSETS (Long-Lived A

LONG-LIVED ASSETS (Long-Lived Assets) (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment	Property, plant and equipment, net, consisted of the following: June 30, 2024 December 31, 2023 (in thousands) Land, buildings and improvements $ 2,161,329 $ 2,043,595 Computer equipment and capitalized software 913,253 888,065 Furniture and other equipment 664,678 646,966 Construction in progress 373,500 317,028 Property, plant and equipment, gross 4,112,760 3,895,654 Less: accumulated depreciation 1,877,234 1,794,191 Property, plant and equipment, net $ 2,235,526 $ 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 six months ended June 30, 2024: Revenue- Client / Venue management 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 68,024 27,318 1,256 — 264 96,862 Acquisitions and additions—prior year 826 4,066 3 (2) — 4,893 Foreign exchange (41,116) (14,820) (2,936) (6,126) (104) (65,102) Other (2) (4,959) (10,132) (11,973) (383) (147) (27,594) Net change 22,775 6,432 (13,650) (6,511) 13 9,059 Accumulated amortization: Amortization (55,242) (41,580) (13,775) (9,282) (3,860) (123,739) Foreign exchange 11,990 5,273 941 2,101 7 20,312 Other (2) 4,694 10,132 11,973 324 290 27,413 Net change (38,558) (26,175) (861) (6,857) (3,563) (76,014) Balance as of June 30, 2024: Gross carrying amount 948,032 589,868 213,138 176,982 20,233 1,948,253 Accumulated amortization (375,183) (277,824) (80,079) (110,893) (9,608) (853,587) Net $ 572,849 $ 312,044 $ 133,059 $ 66,089 $ 10,625 $ 1,094,666 (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 9 Client/vendor relationships 5 Venue management 3 Technology 3 All categories 8
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 six months ended June 30, 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 18,732 — — 18,732 Acquisitions—prior year 4,201 — — 4,201 Foreign exchange (11,556) (20,445) (18,249) (50,250) Balance as of June 30, 2024: Goodwill 1,450,956 992,085 656,471 3,099,512 Accumulated impairment losses (435,363) — — (435,363) Net $ 1,015,593 $ 992,085 $ 656,471 $ 2,664,149
[1] Other primarily includes intangible assets for non-compete agreements. Other primarily includes netdowns of fully amortized or impaired assets.

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Significant Components of Operating Lease Expense	The significant components of operating lease expense are as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 (in thousands) Operating lease expense $ 66,772 $ 76,999 $ 132,508 $ 142,328 Variable and short-term lease expense 48,717 40,963 73,912 72,305 Sublease income (1,704) (2,424) (3,113) (4,612) Net lease expense $ 113,785 $ 115,538 $ 203,307 $ 210,021
Supplemental Cash Flow Information for Operating Leases	Supplemental cash flow information for our operating leases is as follows: Six Months Ended 2024 2023 (in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 149,049 $ 137,924 Lease assets obtained in exchange for lease obligations, net of terminations $ 54,947 $ 87,505 As of June 30, 2024, we have additional operating leases that have not yet commenced, with total lease payments of $137.1 million. These operating leases, which are not included on our consolidated balance sheets, have commencement dates ranging from July 2024 to June 2030 with lease terms ranging from 2 to 28 years.

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments [Table Text Block]	Long-term debt, which includes finance leases, consisted of the following: June 30, 2024 December 31, 2023 (in thousands) Senior Secured Credit Facility: Term loan B $ 832,533 $ 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 debt 503,293 511,210 Total principal amount 6,260,826 6,643,113 Less: unamortized discounts and debt issuance costs (42,752) (49,701) Total debt, net of unamortized discounts and debt issuance costs 6,218,074 6,593,412 Less: current portion 1,137,272 1,134,386 Total long-term debt, net $ 5,080,802 $ 5,459,026
Schedule of Maturities of Long-term Debt [Table Text Block]	Future maturities of long-term debt at June 30, 2024 are as follows: (in thousands) Remainder of 2024 $ 1,124,827 2025 26,146 2026 1,398,114 2027 2,153,784 2028 1,515,675 Thereafter 42,280 Total $ 6,260,826

FAIR VALUE MEASUREMENTS Fair Va

FAIR VALUE MEASUREMENTS Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2024 December 31, 2023 Level 1 Level 2 Total Level 1 Level 2 Total (in thousands) Assets: Cash equivalents $ 963,670 $ — $ 963,670 $ 580,126 $ — $ 580,126 Interest rate swaps $ — $ 42,983 $ 42,983 $ — $ 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 June 30, 2024 December 31, 2023 Level 2 (in thousands) 6.5% Senior Secured Notes due 2027 $ 1,211,256 $ 1,222,608 3.75% Senior Secured Notes due 2028 $ 466,535 $ 469,515 4.875% Senior Notes due 2024 $ 573,223 $ 570,412 5.625% Senior Notes due 2026 $ 296,802 $ 297,606 4.75% Senior Notes due 2027 $ 911,155 $ 913,653 2.0% Convertible Senior Notes due 2025 $ 413,808 $ 423,668 3.125% Convertible Senior Notes due 2029 $ 1,113,350 $ 1,136,160

EQUITY Equity (Tables)

EQUITY Equity (Tables)	6 Months Ended
	Jun. 30, 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 six months ended June 30, 2024: Cash Flow Hedge Foreign Currency Items Total (in thousands) Balance at December 31, 2023 $ 29,350 $ (1,900) $ 27,450 Other comprehensive income (loss) before reclassifications 11,382 (152,096) (140,714) Amount reclassified from AOCI (9,492) — (9,492) Net other comprehensive income (loss) 1,890 (152,096) (150,206) Balance at June 30, 2024 $ 31,240 $ (153,996) $ (122,756)
Schedule of Weighted Average Number of Shares	The following table sets forth the computation of weighted average common shares outstanding: Three Months Ended Six Months Ended 2024 2023 2024 2023 Weighted average common shares—basic 229,921,527 228,536,179 229,696,356 228,350,537 Effect of dilutive securities: Stock options and restricted stock 2,076,808 2,119,347 2,327,958 2,140,400 Convertible senior notes 13,004,660 13,004,660 — — Weighted average common shares—diluted 245,002,995 243,660,186 232,024,314 230,490,937
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 Six Months Ended 2024 2023 2024 2023 Options to purchase shares of common stock 3,750 3,750 3,750 3,750 Restricted stock and deferred stock—unvested 2,464,785 2,739,954 2,743,310 2,736,173 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 2,468,535 2,743,704 15,751,720 15,744,583

SEGMENTS AND REVENUE RECOGNIT_2

SEGMENTS AND REVENUE RECOGNITION (Tables)	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 2024 and 2023: Concerts Ticketing Sponsorship Other & Eliminations Corporate Consolidated (in thousands) Three Months Ended June 30, 2024 Revenue $ 4,987,039 $ 730,677 $ 312,234 $ (6,534) $ — $ 6,023,416 % of Consolidated Revenue 82.8% 12.1% 5.2% (0.1)% Intersegment revenue $ 2,278 $ 4,124 $ 132 $ (6,534) $ — $ — AOI $ 270,694 $ 292,533 $ 222,622 $ (8,171) $ (61,447) $ 716,231 Three Months Ended June 30, 2023 Revenue $ 4,633,291 $ 709,342 $ 302,859 $ (14,769) $ — $ 5,630,723 % of Consolidated Revenue 82.3% 12.6% 5.4% (0.3)% Intersegment revenue $ 3,300 $ 2,397 $ — $ (5,697) $ — $ — AOI $ 168,058 $ 292,685 $ 203,139 $ (18,142) $ (56,043) $ 589,697 Six Months Ended June 30, 2024 Revenue $ 7,866,414 $ 1,453,855 $ 523,511 $ (20,835) $ — $ 9,822,945 % of Consolidated Revenue 80.1% 14.8% 5.3% (0.2)% Intersegment revenue $ 12,403 $ 8,257 $ 175 $ (20,835) $ — $ — AOI $ 273,766 $ 576,648 $ 352,597 $ (15,380) $ (104,010) $ 1,083,621 Six Months Ended June 30, 2023 Revenue $ 6,914,503 $ 1,387,083 $ 472,977 $ (16,450) $ — $ 8,758,113 % of Consolidated Revenue 78.9% 15.8% 5.4% (0.1)% Intersegment revenue $ 4,198 $ 3,180 $ — $ (7,378) $ — $ — AOI $ 168,890 $ 563,736 $ 298,670 $ (26,081) $ (95,808) $ 909,407
Reconciliation of AOI to Operating Income (Loss)	The following table sets forth the reconciliation of consolidated AOI to operating income for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in thousands) AOI $ 716,231 $ 589,697 $ 1,083,621 $ 909,407 Acquisition expenses (30,035) 24,829 522 38,140 Amortization of non-recoupable ticketing contract advances 21,161 21,234 45,241 41,597 Depreciation and amortization 137,729 136,514 270,323 251,699 Gain on sale of operating assets (779) (7,013) (1,430) (6,509) Astroworld estimated loss contingencies 94,000 — 279,915 — Stock-based compensation expense 28,336 27,762 59,738 55,333 Operating income $ 465,819 $ 386,371 $ 429,312 $ 529,147
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 and six months ended June 30, 2024 and 2023: Three Months Ended Six Months Ended 2024 2023 2024 2023 (in thousands) Concerts $ 1,195,678 $ 1,133,662 $ 1,852,828 $ 1,815,042 Ticketing 60,513 61,641 115,323 96,241 Sponsorship & Advertising 40,188 57,247 86,674 107,927 $ 1,296,379 $ 1,252,550 $ 2,054,825 $ 2,019,210

BASIS OF PRESENTATION AND OTH_3

BASIS OF PRESENTATION AND OTHER INFORMATION (Basis of Presentation and Other Information) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Total assets	$ 20,453,984,000	$ 19,074,045,000
Restricted Cash and Cash Equivalents Items [Line Items]
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	842,000,000	940,000,000
Liabilities	$ 560,000,000	$ 592,000,000

LONG-LIVED ASSETS (Property, Pl

LONG-LIVED ASSETS (Property, Plant and Equipment) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Land, buildings and improvements	$ 2,161,329	$ 2,043,595
Computer equipment and capitalized software	913,253	888,065
Furniture and other equipment	664,678	646,966
Construction in progress	373,500	317,028
Property, plant and equipment, gross	4,112,760	3,895,654
Less: accumulated depreciation	1,877,234	1,794,191
Property, plant and equipment, net	$ 2,235,526	$ 2,101,463

LONG-LIVED ASSETS (Definite-liv

LONG-LIVED ASSETS (Definite-lived Intangibles) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount				$ 1,939,194
Accumulated amortization				(777,573)
Net				1,161,621
Acquisitions and additions—current year				96,862
Acquisitions and additions—prior year				4,893
Foreign exchange				(65,102)
Other (2)	[1]			(27,594)
Net change				9,059
Amortization		$ (61,700)	$ (55,200)	(123,739)	$ (112,700)
Foreign exchange				20,312
Other (2)	[1]			27,413
Net change				(76,014)
Gross carrying amount		1,948,253		1,948,253
Accumulated amortization		(853,587)		(853,587)
Net		1,094,666		$ 1,094,666
Weighted-average lives of definite-lived intangible assets				8 years
Revenue-generating contracts [Member]
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount				$ 925,257
Accumulated amortization				(336,625)
Net				588,632
Acquisitions and additions—current year				68,024
Acquisitions and additions—prior year				826
Foreign exchange				(41,116)
Other (2)	[1]			(4,959)
Net change				22,775
Amortization				(55,242)
Foreign exchange				11,990
Other (2)	[1]			4,694
Net change				(38,558)
Gross carrying amount		948,032		948,032
Accumulated amortization		(375,183)		(375,183)
Net		572,849		$ 572,849
Weighted-average lives of definite-lived intangible assets				9 years
Client/vendor relationships [Member]
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount				$ 583,436
Accumulated amortization				(251,649)
Net				331,787
Acquisitions and additions—current year				27,318
Acquisitions and additions—prior year				4,066
Foreign exchange				(14,820)
Other (2)	[1]			(10,132)
Net change				6,432
Amortization				(41,580)
Foreign exchange				5,273
Other (2)	[1]			10,132
Net change				(26,175)
Gross carrying amount		589,868		589,868
Accumulated amortization		(277,824)		(277,824)
Net		312,044		$ 312,044
Weighted-average lives of definite-lived intangible assets				5 years
Venue Management
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount				$ 226,788
Accumulated amortization				(79,218)
Net				147,570
Acquisitions and additions—current year				1,256
Acquisitions and additions—prior year				3
Foreign exchange				(2,936)
Other (2)	[1]			(11,973)
Net change				(13,650)
Amortization				(13,775)
Foreign exchange				941
Other (2)	[1]			11,973
Net change				(861)
Gross carrying amount		213,138		213,138
Accumulated amortization		(80,079)		(80,079)
Net		133,059		$ 133,059
Weighted-average lives of definite-lived intangible assets				3 years
Trademarks and naming rights [Member]
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount				$ 183,493
Accumulated amortization				(104,036)
Net				79,457
Acquisitions and additions—current year				0
Acquisitions and additions—prior year				(2)
Foreign exchange				(6,126)
Other (2)	[1]			(383)
Net change				(6,511)
Amortization				(9,282)
Foreign exchange				2,101
Other (2)	[1]			324
Net change				(6,857)
Gross carrying amount		176,982		176,982
Accumulated amortization		(110,893)		(110,893)
Net		66,089		66,089
Technology and Other intangible assets [Member]
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount	[2]			20,220
Accumulated amortization	[2]			(6,045)
Net	[2]			14,175
Acquisitions and additions—current year	[2]			264
Acquisitions and additions—prior year	[2]			0
Foreign exchange	[2]			(104)
Other (2)	[1],[2]			(147)
Net change	[2]			13
Amortization	[2]			(3,860)
Foreign exchange	[2]			7
Other (2)	[1],[2]			290
Net change	[2]			(3,563)
Gross carrying amount	[2]	20,233		20,233
Accumulated amortization	[2]	(9,608)		(9,608)
Net	[2]	$ 10,625		$ 10,625
Technology [Member]
Finite-lived Intangible Assets [Roll Forward]
Weighted-average lives of definite-lived intangible assets				3 years
[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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Amortization of definite-lived intangible assets	$ 61,700	$ 55,200	$ 123,739	$ 112,700

LONG-LIVED ASSETS (Goodwill) (D

LONG-LIVED ASSETS (Goodwill) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 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	18,732
Acquisitions—prior year	4,201
Foreign exchange	(50,250)
Gross goodwill, end of period	3,099,512
Accumulated impairment losses	(435,363)
Net goodwill, end of period	2,664,149
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	18,732
Acquisitions—prior year	4,201
Foreign exchange	(11,556)
Gross goodwill, end of period	1,450,956
Accumulated impairment losses	(435,363)
Net goodwill, end of period	1,015,593
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
Foreign exchange	(20,445)
Gross goodwill, end of period	992,085
Accumulated impairment losses	0
Net goodwill, end of period	992,085
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
Foreign exchange	(18,249)
Gross goodwill, end of period	656,471
Accumulated impairment losses	0
Net goodwill, end of period	$ 656,471

LONG-LIVED ASSETS (Investments

LONG-LIVED ASSETS (Investments in Nonconsolidated Affiliates) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Investments [Abstract]
Investments in nonconsolidated affiliates	$ 548.4	$ 447.5

LEASES (Significant Components

LEASES (Significant Components Of Operating Lease Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Operating lease expense	$ 66,772	$ 76,999	$ 132,508	$ 142,328
Variable and short-term lease expense	48,717	40,963	73,912	72,305
Sublease income	(1,704)	(2,424)	(3,113)	(4,612)
Net lease expense	$ 113,785	$ 115,538	$ 203,307	$ 210,021

LEASES (Supplemental Cash Flow

LEASES (Supplemental Cash Flow Information For Operating Leases) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 149,049	$ 137,924
Lease assets obtained in exchange for lease obligations, net of terminations	$ 54,947	$ 87,505

LEASES (Leases Not Yet Commence

LEASES (Leases Not Yet Commenced) (Details) $ in Millions	Jun. 30, 2024 USD ($)
Lessee, Lease, Description [Line Items]
Total lease payments due under operating leases that have not yet commenced	$ 137.1
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	28 years

LONG-TERM DEBT (Schedule of Lon

LONG-TERM DEBT (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total principal amount	$ 6,260,826	$ 6,643,113
Less: unamortized discounts and debt issuance costs	(42,752)	(49,701)
Total debt, net of unamortized discounts and debt issuance costs	6,218,074	6,593,412
Current portion of long-term debt, net	1,137,272	1,134,386
Long-term debt, net	5,080,802	5,459,026
Senior Secured Credit Facility Term loan B [Member]
Debt Instrument [Line Items]
Total principal amount	832,533	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 Debt [Member]
Debt Instrument [Line Items]
Total principal amount	$ 503,293	$ 511,210

LONG-TERM DEBT (Future of Matur

LONG-TERM DEBT (Future of Maturities of Long-Term Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Maturities of Long-term Debt [Abstract]
Remainder of 2024	$ 1,124,827
2026	26,146
2027	1,398,114
2028	2,153,784
2028	1,515,675
Thereafter	42,280
Total	$ 6,260,826	$ 6,643,113

LONG-TERM DEBT (Other Debt) (De

LONG-TERM DEBT (Other Debt) (Details) - Other Debt [Member] $ in Thousands	Jun. 30, 2024 USD ($)
United States Venue Management Acquisition
Debt Instrument [Line Items]
Other Long-Term Debt	$ 275,000
Europe Asset Acquisition
Debt Instrument [Line Items]
Other Long-Term Debt	$ 123,300

FAIR VALUE MEASUREMENTS (Assets

FAIR VALUE MEASUREMENTS (Assets and Liabilities Measured On A Recurring Basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Cash equivalents	$ 963,670	$ 580,126
Recurring [Member]
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Interest Rate Derivative Assets, at Fair Value	42,983	39,232
Level 1 [Member] | Recurring [Member]
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Cash equivalents	963,670	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	$ 42,983	$ 39,232

FAIR VALUE MEASUREMENTS (Fair V

FAIR VALUE MEASUREMENTS (Fair Value of Debt) (Details) - Level 2 [Member] - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
6.5% Senior Secured Notes Due 2027 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	$ 1,211,256	$ 1,222,608
3.75% Senior Secured Notes Due 2028 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	466,535	469,515
4.875% Senior Notes Due 2024 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	573,223	570,412
5.625% Senior Notes Due 2026 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	296,802	297,606
4.75% Senior Notes due 2027 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	911,155	913,653
2.0% Convertible Senior Notes Due 2025 [Member]
Debt Fair Value [Line Items]
Estimated fair values of convertible senior notes	413,808	423,668
3.125% Convertible Senior Notes Due 2029
Debt Fair Value [Line Items]
Estimated fair values of convertible senior notes	$ 1,113,350	$ 1,136,160

FAIR VALUE MEASUREMENTS (Fair_2

FAIR VALUE MEASUREMENTS (Fair Value Measured On A Non-Recurring Basis) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Sponsorship and Advertising [Member] | Cost Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Nonrecurring Gain	$ (31,800)
Sponsorship and Advertising [Member] | Cost Investments [Member] | 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 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Nonrecurring Gain	(24,400)
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Sponsorship and Advertising [Member] | Cost Investments [Member]
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 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in Affiliates, Subsidiaries, Associates, and Joint Ventures, Fair Value Disclosure	$ 35,900

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) numberOfClaims	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) numberOfClaims	Jun. 30, 2023 USD ($)	Nov. 05, 2021
Loss Contingencies [Line Items]
Astroworld estimated loss contingencies	$ 94,000	$ 0	$ 279,915	$ 0
Astroworld Festival
Loss Contingencies [Line Items]
Astroworld Fatal Injuries					10
Loss Contingency, Pending Claims, Number | numberOfClaims	450		450
Astroworld estimated loss contingencies	$ 94,000		$ 280,000

EQUITY (Accumulated Other Compr

EQUITY (Accumulated Other Comprehensive Loss) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2023	$ 27,450
Other comprehensive income (loss) before reclassifications	(140,714)
Amount reclassified from AOCI	(9,492)
Net other comprehensive income (loss)	(150,206)
Balance at June 30, 2024	(122,756)
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 (loss) before reclassifications	11,382
Amount reclassified from AOCI	(9,492)
Net other comprehensive income (loss)	1,890
Balance at June 30, 2024	31,240
Foreign Currency Items [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2023	(1,900)
Other comprehensive income (loss) before reclassifications	(152,096)
Amount reclassified from AOCI	0
Net other comprehensive income (loss)	(152,096)
Balance at June 30, 2024	$ (153,996)

EQUITY (Weighted Average Common

EQUITY (Weighted Average Common Shares Outstanding) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Weighted Average Common Shares Basic and Diluted [Line Items]
Basic	229,921,527	228,536,179	229,696,356	228,350,537
Incremental Common Shares Attributable to Dilutive Effect of Share-Based Payment Arrangements	2,076,808	2,119,347	2,327,958	2,140,400
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities	13,004,660	13,004,660	0	0
Weighted Average Number of Shares Outstanding, Diluted	245,002,995	243,660,186	232,024,314	230,490,937

EQUITY (Antidilutive Securities

EQUITY (Antidilutive Securities Excluded from Computation of Earnings per Share) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,468,535	2,743,704	15,751,720	15,744,583
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	2,464,785	2,739,954	2,743,310	2,736,173
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	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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Revenue	$ 6,023,416	$ 5,630,723	$ 9,822,945	$ 8,758,113
AOI	716,231	589,697	1,083,621	909,407
Operating Segments [Member] | Concerts [Member]
Segment Reporting Information [Line Items]
Revenue	$ 4,987,039	$ 4,633,291	$ 7,866,414	$ 6,914,503
Percentage of Concert revenue to consolidated revenue	82.80%	82.30%	80.10%	78.90%
AOI	$ 270,694	$ 168,058	$ 273,766	$ 168,890
Operating Segments [Member] | Ticketing [Member]
Segment Reporting Information [Line Items]
Revenue	$ 730,677	$ 709,342	$ 1,453,855	$ 1,387,083
Percentage of Ticketing revenue to consolidated revenue	12.10%	12.60%	14.80%	15.80%
AOI	$ 292,533	$ 292,685	$ 576,648	$ 563,736
Operating Segments [Member] | Sponsorship and Advertising [Member]
Segment Reporting Information [Line Items]
Revenue	$ 312,234	$ 302,859	$ 523,511	$ 472,977
Percentage of Sponsorship & Advertising revenue to consolidated revenue	5.20%	5.40%	5.30%	5.40%
AOI	$ 222,622	$ 203,139	$ 352,597	$ 298,670
Operating Segments [Member] | Corporate Segment
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
AOI	(61,447)	(56,043)	(104,010)	(95,808)
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	(6,534)	(5,697)	(20,835)	(7,378)
Intersegment Eliminations [Member] | Concerts [Member]
Segment Reporting Information [Line Items]
Revenue	2,278	3,300	12,403	4,198
Intersegment Eliminations [Member] | Ticketing [Member]
Segment Reporting Information [Line Items]
Revenue	4,124	2,397	8,257	3,180
Intersegment Eliminations [Member] | Sponsorship and Advertising [Member]
Segment Reporting Information [Line Items]
Revenue	132	0	175	0
Intersegment Eliminations [Member] | Other and Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	$ (6,534)	$ (14,769)	$ (20,835)	$ (16,450)
Percentage of Other and Eliminations to Total Revenue	(0.1)	(0.3)	(0.2)	(0.1)
AOI	$ (8,171)	$ (18,142)	$ (15,380)	$ (26,081)
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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Reconciliation of AOI [Line Items]
AOI	$ 716,231	$ 589,697	$ 1,083,621	$ 909,407
Acquisition expenses	(30,035)	24,829	522	38,140
Amortization of non-recoupable ticketing contract advances	21,161	21,234	45,241	41,597
Depreciation and amortization	137,729	136,514	270,323	251,699
Gain on sale of operating assets	779	7,013	1,430	6,509
Astroworld estimated loss contingencies	94,000	0	279,915	0
Stock-based compensation expense	28,336	27,762	59,738	55,333
Operating income	465,819	386,371	429,312	529,147
Astroworld Festival
Reconciliation of AOI [Line Items]
Astroworld estimated loss contingencies	94,000		280,000
Operating Segments [Member] | Concerts [Member]
Reconciliation of AOI [Line Items]
AOI	270,694	168,058	273,766	168,890
Operating Segments [Member] | Ticketing [Member]
Reconciliation of AOI [Line Items]
AOI	292,533	292,685	576,648	563,736
Operating Segments [Member] | Sponsorship and Advertising [Member]
Reconciliation of AOI [Line Items]
AOI	222,622	203,139	352,597	298,670
Operating Segments [Member] | Corporate Segment
Reconciliation of AOI [Line Items]
AOI	$ (61,447)	$ (56,043)	$ (104,010)	$ (95,808)

SEGMENTS AND REVENUE RECOGNIT_5

SEGMENTS AND REVENUE RECOGNITION Ticketing Contract Advances (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Capitalized Contract Cost [Line Items]
Amortization of non-recoupable ticketing contract advances	$ 21,161	$ 21,234	$ 45,241	$ 41,597
Prepaid Expenses [Member] | Ticketing [Member]
Capitalized Contract Cost [Line Items]
Ticketing contract advances	122,000		122,000		$ 143,900
Other Noncurrent Assets [Member] | Ticketing [Member]
Capitalized Contract Cost [Line Items]
Ticketing contract advances	$ 122,000		$ 122,000		$ 135,600

SEGMENTS AND REVENUE RECOGNIT_6

SEGMENTS AND REVENUE RECOGNITION Performance Obligation (Details) - Sponsorship and Advertising [Member] $ in Billions	Jun. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue related to future benefits to be provided by the Company	$ 1.7
Percentage of revenue on contracts to be recognized during the remainder of current year	24%
Percentage of revenue on contracts to be recognized next year	30%
Percentage of revenue on contracts to be recognized in two years	23%
Percentage of revenue to be recognized on contracts thereafter	23%

SEGMENTS AND REVENUE RECOGNIT_7

SEGMENTS AND REVENUE RECOGNITION Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, current	$ 4,798,752		$ 4,798,752		$ 3,398,028
Recognition of deferred revenue	1,296,379	$ 1,252,550	2,054,825	$ 2,019,210
Concerts [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognition of deferred revenue	1,195,678	1,133,662	1,852,828	1,815,042
Ticketing [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognition of deferred revenue	60,513	61,641	115,323	96,241
Sponsorship and Advertising [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognition of deferred revenue	$ 40,188	$ 57,247	$ 86,674	$ 107,927