Intrinsic value of Live Nation Entertainment - LYV

Previous Close

$54.50

  Intrinsic Value

$48.42

stock screener

  Rating & Target

hold

-11%

Previous close

$54.50

 
Intrinsic value

$48.42

 
Up/down potential

-11%

 
Rating

hold

We calculate the intrinsic value of LYV stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 11.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  6.90
  6.71
  6.54
  6.39
  6.25
  6.12
  6.01
  5.91
  5.82
  5.74
  5.66
  5.60
  5.54
  5.48
  5.43
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
  5.11
  5.10
  5.09
Revenue, $m
  11,051
  11,792
  12,563
  13,366
  14,200
  15,070
  15,975
  16,919
  17,904
  18,931
  20,003
  21,122
  22,291
  23,514
  24,792
  26,128
  27,527
  28,990
  30,522
  32,127
  33,807
  35,568
  37,413
  39,346
  41,373
  43,499
  45,727
  48,064
  50,515
  53,086
Variable operating expenses, $m
  10,788
  11,493
  12,226
  12,988
  13,781
  14,608
  15,468
  16,365
  17,301
  18,277
  19,011
  20,074
  21,186
  22,347
  23,562
  24,832
  26,161
  27,552
  29,008
  30,533
  32,130
  33,804
  35,557
  37,395
  39,321
  41,341
  43,459
  45,680
  48,009
  50,453
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  10,788
  11,493
  12,226
  12,988
  13,781
  14,608
  15,468
  16,365
  17,301
  18,277
  19,011
  20,074
  21,186
  22,347
  23,562
  24,832
  26,161
  27,552
  29,008
  30,533
  32,130
  33,804
  35,557
  37,395
  39,321
  41,341
  43,459
  45,680
  48,009
  50,453
Operating income, $m
  263
  300
  338
  378
  419
  462
  507
  554
  603
  654
  992
  1,048
  1,106
  1,166
  1,230
  1,296
  1,365
  1,438
  1,514
  1,593
  1,677
  1,764
  1,856
  1,951
  2,052
  2,157
  2,268
  2,384
  2,505
  2,633
EBITDA, $m
  847
  904
  963
  1,024
  1,088
  1,155
  1,224
  1,297
  1,372
  1,451
  1,533
  1,619
  1,708
  1,802
  1,900
  2,002
  2,109
  2,222
  2,339
  2,462
  2,591
  2,726
  2,867
  3,015
  3,171
  3,333
  3,504
  3,683
  3,871
  4,068
Interest expense (income), $m
  97
  124
  148
  173
  198
  225
  252
  281
  311
  342
  375
  409
  444
  481
  520
  560
  602
  647
  693
  741
  792
  845
  900
  959
  1,020
  1,084
  1,151
  1,221
  1,294
  1,372
  1,453
Earnings before tax, $m
  139
  152
  165
  180
  194
  210
  226
  243
  261
  279
  584
  604
  625
  647
  670
  694
  719
  745
  773
  802
  832
  864
  897
  932
  969
  1,007
  1,047
  1,089
  1,134
  1,180
Tax expense, $m
  37
  41
  45
  48
  52
  57
  61
  66
  70
  75
  158
  163
  169
  175
  181
  187
  194
  201
  209
  216
  225
  233
  242
  252
  261
  272
  283
  294
  306
  319
Net income, $m
  101
  111
  121
  131
  142
  153
  165
  177
  190
  204
  426
  441
  456
  472
  489
  506
  525
  544
  564
  585
  607
  630
  655
  680
  707
  735
  764
  795
  828
  862

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  8,025
  8,564
  9,124
  9,706
  10,313
  10,944
  11,602
  12,287
  13,002
  13,748
  14,526
  15,339
  16,188
  17,076
  18,004
  18,975
  19,990
  21,053
  22,166
  23,331
  24,551
  25,830
  27,170
  28,574
  30,046
  31,589
  33,208
  34,905
  36,685
  38,552
Adjusted assets (=assets-cash), $m
  8,025
  8,564
  9,124
  9,706
  10,313
  10,944
  11,602
  12,287
  13,002
  13,748
  14,526
  15,339
  16,188
  17,076
  18,004
  18,975
  19,990
  21,053
  22,166
  23,331
  24,551
  25,830
  27,170
  28,574
  30,046
  31,589
  33,208
  34,905
  36,685
  38,552
Revenue / Adjusted assets
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
  1.377
Average production assets, $m
  2,420
  2,582
  2,751
  2,927
  3,110
  3,300
  3,499
  3,705
  3,921
  4,146
  4,381
  4,626
  4,882
  5,149
  5,429
  5,722
  6,028
  6,349
  6,684
  7,036
  7,404
  7,789
  8,193
  8,617
  9,061
  9,526
  10,014
  10,526
  11,063
  11,626
Working capital, $m
  -2,033
  -2,170
  -2,312
  -2,459
  -2,613
  -2,773
  -2,939
  -3,113
  -3,294
  -3,483
  -3,680
  -3,886
  -4,102
  -4,327
  -4,562
  -4,808
  -5,065
  -5,334
  -5,616
  -5,911
  -6,221
  -6,544
  -6,884
  -7,240
  -7,613
  -8,004
  -8,414
  -8,844
  -9,295
  -9,768
Total debt, $m
  2,742
  3,196
  3,668
  4,159
  4,670
  5,203
  5,757
  6,335
  6,938
  7,566
  8,222
  8,908
  9,624
  10,372
  11,154
  11,973
  12,829
  13,725
  14,663
  15,645
  16,674
  17,752
  18,881
  20,065
  21,306
  22,607
  23,971
  25,402
  26,902
  28,476
Total liabilities, $m
  6,765
  7,219
  7,691
  8,182
  8,693
  9,226
  9,780
  10,358
  10,961
  11,589
  12,246
  12,931
  13,647
  14,395
  15,177
  15,996
  16,852
  17,748
  18,686
  19,668
  20,697
  21,775
  22,904
  24,088
  25,329
  26,630
  27,994
  29,425
  30,925
  32,499
Total equity, $m
  1,260
  1,345
  1,432
  1,524
  1,619
  1,718
  1,821
  1,929
  2,041
  2,158
  2,281
  2,408
  2,542
  2,681
  2,827
  2,979
  3,138
  3,305
  3,480
  3,663
  3,855
  4,055
  4,266
  4,486
  4,717
  4,960
  5,214
  5,480
  5,759
  6,053
Total liabilities and equity, $m
  8,025
  8,564
  9,123
  9,706
  10,312
  10,944
  11,601
  12,287
  13,002
  13,747
  14,527
  15,339
  16,189
  17,076
  18,004
  18,975
  19,990
  21,053
  22,166
  23,331
  24,552
  25,830
  27,170
  28,574
  30,046
  31,590
  33,208
  34,905
  36,684
  38,552
Debt-to-equity ratio
  2.180
  2.380
  2.560
  2.730
  2.880
  3.030
  3.160
  3.280
  3.400
  3.510
  3.610
  3.700
  3.790
  3.870
  3.950
  4.020
  4.090
  4.150
  4.210
  4.270
  4.330
  4.380
  4.430
  4.470
  4.520
  4.560
  4.600
  4.640
  4.670
  4.700
Adjusted equity ratio
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157
  0.157

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  101
  111
  121
  131
  142
  153
  165
  177
  190
  204
  426
  441
  456
  472
  489
  506
  525
  544
  564
  585
  607
  630
  655
  680
  707
  735
  764
  795
  828
  862
Depreciation, amort., depletion, $m
  584
  604
  625
  647
  669
  693
  717
  743
  769
  797
  541
  571
  603
  636
  670
  706
  744
  784
  825
  869
  914
  962
  1,012
  1,064
  1,119
  1,176
  1,236
  1,300
  1,366
  1,435
Funds from operations, $m
  685
  715
  746
  778
  811
  846
  882
  920
  960
  1,001
  967
  1,012
  1,059
  1,108
  1,159
  1,213
  1,269
  1,328
  1,389
  1,454
  1,521
  1,592
  1,666
  1,744
  1,826
  1,911
  2,001
  2,095
  2,193
  2,297
Change in working capital, $m
  -131
  -136
  -142
  -148
  -154
  -160
  -167
  -174
  -181
  -189
  -197
  -206
  -215
  -225
  -235
  -246
  -257
  -269
  -282
  -295
  -309
  -324
  -339
  -356
  -373
  -391
  -410
  -430
  -451
  -473
Cash from operations, $m
  816
  851
  887
  925
  965
  1,006
  1,049
  1,094
  1,141
  1,190
  1,164
  1,218
  1,274
  1,333
  1,394
  1,459
  1,526
  1,597
  1,671
  1,749
  1,831
  1,916
  2,006
  2,100
  2,199
  2,302
  2,411
  2,525
  2,644
  2,770
Maintenance CAPEX, $m
  -279
  -299
  -319
  -340
  -361
  -384
  -407
  -432
  -457
  -484
  -512
  -541
  -571
  -603
  -636
  -670
  -706
  -744
  -784
  -825
  -869
  -914
  -962
  -1,012
  -1,064
  -1,119
  -1,176
  -1,236
  -1,300
  -1,366
New CAPEX, $m
  -156
  -162
  -169
  -176
  -183
  -190
  -198
  -207
  -216
  -225
  -235
  -245
  -256
  -268
  -280
  -293
  -306
  -321
  -336
  -351
  -368
  -386
  -404
  -423
  -444
  -465
  -488
  -512
  -537
  -563
Cash from investing activities, $m
  -435
  -461
  -488
  -516
  -544
  -574
  -605
  -639
  -673
  -709
  -747
  -786
  -827
  -871
  -916
  -963
  -1,012
  -1,065
  -1,120
  -1,176
  -1,237
  -1,300
  -1,366
  -1,435
  -1,508
  -1,584
  -1,664
  -1,748
  -1,837
  -1,929
Free cash flow, $m
  381
  390
  400
  410
  421
  432
  443
  455
  468
  481
  417
  432
  447
  462
  479
  496
  514
  532
  552
  572
  594
  616
  640
  665
  691
  718
  747
  777
  808
  841
Issuance/(repayment) of debt, $m
  442
  454
  472
  491
  511
  532
  554
  578
  603
  629
  656
  685
  716
  748
  782
  818
  856
  896
  938
  982
  1,029
  1,078
  1,129
  1,184
  1,241
  1,301
  1,364
  1,431
  1,500
  1,574
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  442
  454
  472
  491
  511
  532
  554
  578
  603
  629
  656
  685
  716
  748
  782
  818
  856
  896
  938
  982
  1,029
  1,078
  1,129
  1,184
  1,241
  1,301
  1,364
  1,431
  1,500
  1,574
Total cash flow (excl. dividends), $m
  823
  844
  872
  901
  932
  964
  998
  1,033
  1,070
  1,109
  1,074
  1,117
  1,163
  1,210
  1,261
  1,314
  1,370
  1,428
  1,490
  1,555
  1,623
  1,694
  1,770
  1,849
  1,932
  2,019
  2,111
  2,207
  2,309
  2,415
Retained Cash Flow (-), $m
  -79
  -85
  -88
  -91
  -95
  -99
  -103
  -108
  -112
  -117
  -122
  -128
  -133
  -139
  -146
  -152
  -159
  -167
  -175
  -183
  -192
  -201
  -210
  -220
  -231
  -242
  -254
  -266
  -279
  -293
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  744
  759
  784
  810
  836
  865
  894
  925
  958
  992
  951
  989
  1,029
  1,071
  1,115
  1,162
  1,210
  1,261
  1,315
  1,372
  1,431
  1,494
  1,559
  1,628
  1,701
  1,777
  1,857
  1,941
  2,029
  2,122
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  714
  695
  682
  667
  648
  628
  604
  578
  550
  520
  452
  422
  391
  360
  327
  295
  263
  232
  202
  174
  148
  124
  102
  83
  66
  52
  40
  30
  22
  16
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Live Nation Entertainment, Inc. is a live entertainment company. The Company's businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content. The Ticketing segment is an agency business that sells tickets for events on behalf of its clients. The Artist Nation segment provides management services to music artists in exchange for a commission on the earnings of artists. The Sponsorship & Advertising segment employs sales force that creates and maintains relationships with sponsors to allow businesses to reach customers through its concert, venue, artist relationship and ticketing assets, including advertising on its Websites.

FINANCIAL RATIOS  of  Live Nation Entertainment (LYV)

Valuation Ratios
P/E Ratio 3707.3
Price to Sales 1.3
Price to Book 9.9
Price to Tangible Book
Price to Cash Flow 18.6
Price to Free Cash Flow 26.7
Growth Rates
Sales Growth Rate 15.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 16.1%
Cap. Spend. - 3 Yr. Gr. Rate 5.9%
Financial Strength
Quick Ratio 29
Current Ratio 0
LT Debt to Equity 200.7%
Total Debt to Equity 205.4%
Interest Coverage 1
Management Effectiveness
Return On Assets 0.7%
Ret/ On Assets - 3 Yr. Avg. -1.3%
Return On Total Capital 0.1%
Ret/ On T. Cap. - 3 Yr. Avg. -1.2%
Return On Equity 0.3%
Return On Equity - 3 Yr. Avg. -3%
Asset Turnover 1.3
Profitability Ratios
Gross Margin 27.2%
Gross Margin - 3 Yr. Avg. 30.4%
EBITDA Margin 6.6%
EBITDA Margin - 3 Yr. Avg. 6.2%
Operating Margin 2.2%
Oper. Margin - 3 Yr. Avg. 1.4%
Pre-Tax Margin 0.6%
Pre-Tax Margin - 3 Yr. Avg. -0.3%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. -0.6%
Effective Tax Rate 58.3%
Eff/ Tax Rate - 3 Yr. Avg. 140.3%
Payout Ratio 0%

LYV stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the LYV stock intrinsic value calculation we used $10337.448 million for the last fiscal year's total revenue generated by Live Nation Entertainment. The default revenue input number comes from 0001 income statement of Live Nation Entertainment. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our LYV stock valuation model: a) initial revenue growth rate of 6.9% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for LYV is calculated based on our internal credit rating of Live Nation Entertainment, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Live Nation Entertainment.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of LYV stock the variable cost ratio is equal to 97.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for LYV stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Live Nation Entertainment.

Corporate tax rate of 27% is the nominal tax rate for Live Nation Entertainment. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the LYV stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for LYV are equal to 21.9%.

Life of production assets of 8.1 years is the average useful life of capital assets used in Live Nation Entertainment operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for LYV is equal to -18.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1181.196 million for Live Nation Entertainment - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 209.06 million for Live Nation Entertainment is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Live Nation Entertainment at the current share price and the inputted number of shares is $11.4 billion.

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COMPANY NEWS

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▶ Millennials Help Live Nation Hit Record High   [Nov-02-18 05:31PM  Bloomberg]
▶ Live Nation: 3Q Earnings Snapshot   [04:48PM  Associated Press]
▶ [$$] With A Star Is Born, Live Nation Gains Hollywood Clout   [Oct-30-18 08:13PM  The Wall Street Journal]
▶ Kiss: End Of The Road World Tour   [Oct-29-18 09:06AM  PR Newswire]
▶ The LeBron James Effect On Ticket Prices   [Oct-22-18 04:40PM  Benzinga]
▶ Ticketmaster upgrades with blockchain ticketing solution   [Oct-18-18 04:30PM  American City Business Journals]
▶ [$$] Silicon Valleys new ethical dilemma   [12:18AM  Financial Times]
▶ Irving Azoff takes over MSG stake in joint venture   [Oct-08-18 01:34PM  American City Business Journals]
▶ Ticketmaster Statement on FTC Ticketing Workshop   [Oct-04-18 03:34PM  PR Newswire]
▶ IBIS Capital Partners Returns, AUM, and Holdings   [Oct-01-18 09:29AM  Insider Monkey]
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▶ Eventbrite Stock Jumped 70% on Day One   [11:04AM  Motley Fool]
▶ [$$] Further reading   [Sep-24-18 01:43AM  Financial Times]
▶ Sen. Moran concerned about possible scalpers in Ticketmaster system   [Sep-23-18 06:00AM  American City Business Journals]
▶ [$$] FirstFT: Todays top stories   [Sep-21-18 07:53AM  Financial Times]
▶ Eventbrite Skyrockets in Market Debut   [02:16PM  Investopedia]
▶ Ticketmaster draws scrutiny amid scalper-collusion allegations   [12:45PM  American City Business Journals]
▶ Stocks Relieved as Tariffs Could've Been Worse   [Sep-19-18 09:15AM  Zacks]
▶ [$$] Music industry warns on decline in state school teaching   [Sep-14-18 11:00PM  Financial Times]
▶ Breaking Down the Risks Facing Live Nation   [Sep-13-18 11:31AM  Motley Fool]
▶ How Live Nation Dominates Big Concerts   [11:11AM  Motley Fool]
▶ Cher - The HERE WE GO AGAIN Tour Dates Announced   [Sep-07-18 09:00AM  PR Newswire]
▶ Fox bets $100 million on upstart Twitch rival   [Sep-05-18 05:37PM  American City Business Journals]
▶ Startup SocialLadder's new deal with Ticketmaster division is a 'big win'   [Sep-04-18 11:52AM  American City Business Journals]
▶ Austin company to help Houston rapper stage Astroworld Festival   [Aug-20-18 01:38PM  American City Business Journals]
▶ What Is Vertical Integration and What Are The Benefits?   [Aug-17-18 10:52AM  TheStreet.com]
▶ [$$] T-Mobile Forges Deals With Pandora, Live Nation   [Aug-15-18 08:44PM  The Wall Street Journal]
▶ [$$] T-Mobile Forges Deals With Pandora, Live Nation   [02:17PM  The Wall Street Journal]
▶ The Weeknd Announces First Ever Tour In Asia   [Aug-13-18 08:00PM  PR Newswire]
▶ Houston native hip-hop artist bringing Astroworld Festival to Houston   [Aug-10-18 01:43PM  American City Business Journals]
▶ GRPN Stock Whiffs on Q2 Earnings and Revenue Expectations   [Aug-03-18 12:27PM  InvestorPlace]
▶ In Q2, Live Nation Entertainment Posted 7% Sales Growth   [Jul-27-18 10:19AM  Motley Fool]
▶ Live Nation: 2Q Earnings Snapshot   [Jul-26-18 05:17PM  Associated Press]
▶ Live Nation cancels Demi Lovato concert in New Jersey   [10:57AM  American City Business Journals]
▶ TickPick Acquires Leading Ticket Search Aggregator   [Jul-24-18 09:00AM  Benzinga]
▶ Live Nation introducing Impossible Burger at venues nationwide   [Jul-17-18 02:55PM  American City Business Journals]

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