Liberty Live Holdings (LLYVK) Investor day 2024 presentation summary

Key strategic and operational highlights

• F1 achieved 28% LTM revenue growth and 30% adjusted OIBDA growth, with expanded commercial partnerships and a record 24-race calendar in 2024, plus a 75th anniversary calendar for 2025.

• Live Nation is on track for double-digit AOI growth in 2024, with an even larger venue pipeline for 2025.

• Completed the Quint acquisition, announced the MotoGP acquisition (expected to close by year-end), and completed the Liberty SiriusXM and SiriusXM combination.

• Announced the split-off of Liberty Live Group into a separate public company, aiming to simplify equity structure and increase liquidity.

• MotoGP extended its commercial rights agreement with FIM until 2060, and all transaction financing for the acquisition is secured.

Portfolio and business model evolution

• The portfolio includes premium IP assets with global fanbases, attractive financial profiles, and capital-light business models.

• Liberty leverages expertise in media, live entertainment, and capital structure to empower management and drive long-term value.

• Quint delivers curated, seamless hospitality experiences, expanding into new partnerships and deepening relationships with marquee sports properties.

• The business model emphasizes expanding commercial inventory, licensing, hospitality, and digital engagement.

F1 and MotoGP performance and growth

• F1 has transformed into a world-leading sports organization, with a 12% CAGR in revenue and adjusted OIBDA since 2019, and a 43% increase in spectators since 2018.

• F1's sponsorship revenue and number of partners have grown significantly, with new global partners like LVMH and American Express.

• F1 TV subscribers grew 10% YoY through Q3-24, led by 14% growth in the US market.

• MotoGP boasts high adjusted EBITDA margins (37% in 2023), minimal capital intensity, and a passionate, growing global fanbase.

• MotoGP's 2024 attendance is up 9% YoY, with 2.9 million attendees and 140 million digital audience.