Live Nation Entertainment Inc

LYV: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$115.00	Dgqfgc	Rwzltnncd

Live Nation Earnings: Continued Global Demand for Live Events Drives Strong Growth

Neil Macker

Jul 28, 2023

Live Nation benefited once again from the ongoing demand growth for live events as second-quarter revenue jumped by 27% year over year. Management touted the strength of 2023 demand, with over 117 million tickets sold to date for shows, tracking 20% ahead of 2022 at the same point. Despite the relatively weak global ad market, over 90% of the planned sponsorship for 2023 is already booked with double-digit growth. We are maintaining our fair value estimate of $105.

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