Live Nation Entertainment, Inc. (LYV) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

seeing that those on sales and continued strength, particularly, as you noted, for April being up 22% globally through the first part. And we expect probably two-thirds of the Live Nation concert fan growth to be in the second half this year in terms of when the events actually take place and that fan growth happens. So you're seeing a bit of a just a little later Timing of those on sales and you've seen some huge on sales for Chris Brown Lady Gaga and others this month and then finally The one area that is also hitting Ticketmaster is FX this year All FX is rebounded for a lot of markets for Mexico and Latin America. It's still a headwind and Ticketmaster took about 60% of that headwind in q1 in terms of its portion of the overall company's headwind and And we project it to be kind of two-thirds of the headwinds in Q2. So it's going to have a little bit of a reported impact in the short term. As you said, all of this is in the context of massive growth in deferred revenue for concerts and good double-digit growth in deferred revenue for Ticketmaster. So we're still confident we'll get some good growth out of Ticketmaster for the year, but we didn't see it play through in Q1 as much as we expected. It sounds from that answer that you're not seeing much headwinds from tariffs or other economic issues in the consumer yet. You could correct me if I'm wrong, but wanted to get a sense of what the potential disruption is if there is a slowdown in the consumer. And I guess two legs to that. One is how much of the year, especially concerts, is already in the bag through You're on sales and then for the parts and sponsorship, and then for the parts that are more real time, like amphitheaters, what can you do if you do see the consumer weakened to protect AOI? I'll start on de...