Live Nation Entertainment (LYV) Goldman Sachs Communacopia + Technology Conference summary

Industry growth and global expansion

• Live music industry has grown from $5B in 2000 to $35B in 2023, with 8%-9% annualized growth expected to continue over the next decade.

• Global demand for live music is rising due to digital platforms, unlocking new markets in Latin America, Asia, and Africa.

• Artists now have direct access to global audiences, bypassing traditional gatekeepers and accelerating international touring opportunities.

• Expansion into underserved markets is a key growth driver, with over 50 offices worldwide and plans to increase presence in emerging regions.

• Infrastructure development, including venues and promoters, is essential to capitalize on global demand.

Artist relationships and business model evolution

• Touring has become the primary revenue source for artists, shifting focus from record deals to live performances.

• Artists are increasingly data-driven, seeking partners with expertise in global strategy, pricing, and monetization.

• Promoters have professionalized, offering global planning and risk management, which attracts top talent.

• Large-scale, data-informed events, such as Adele’s Munich residency, exemplify the new approach to touring.

• Artists operate as brands and mini-corporations, requiring sophisticated support from promoters.

Concerts business performance and outlook

• The industry experienced exceptional growth post-COVID, with 80% growth over two years and continued flat-to-positive growth in 2024.

• 2025 is projected to be a strong year for stadiums and arenas, with normalization to 8%-9% annual growth.

• Shifts between venue types (stadiums, amphitheaters) are expected and considered part of normal business cycles.

• Demand remains robust, driven by event scarcity, affordability, and passionate fan engagement.

• Live events are seen as irreplaceable experiences, maintaining strong consumer demand despite economic headwinds.