Exhibit 12.1
 
    Live Nation, Inc.
    Computation of Ratio of Earnings to Fixed Charges
    (In thousands, except ratio)
                                         
                    Year Ended        
     
    2005   2004   2003   2002   2001
     
Income (loss) before income taxes, equity in earnings of nonconsolidated affiliates, and cumulative effect of a change in accounting principle
  $ (68,855 )   $ 11,819     $ 67,010     $ 32,642     $ (261,959 )
Dividends and other received from nonconsolidated affiliates
                             
     
Total earnings
    (68,855 )     11,819       67,010       32,642       (261,959 )
Fixed charges:
                                       
Interest expense
    52,496       45,474       44,203       62,606       74,977  
Amortization of loan fees
    *                          
Interest portion of rentals
    63,292       61,481       56,105       49,630       46,235  
     
Total fixed charges
    115,788       106,955       100,308       112,236       121,212  
Preferred stock dividends
                             
     
Total fixed charges and preferred stock dividends
    115,788       106,955       100,308       112,236       121,212  
Total earnings available for payment of fixed charges
  $ 46,933     $ 118,774     $ 167,318     $ 144,878     $ (140,747 )
     
Ratio of earnings to fixed charges
    0.41       1.11       1.67       1.29       **  
     
Rental fees and charges
  $ 180,835     $ 175,659     $ 160,300     $ 141,800     $ 132,101  
Interest rate
    35 %     35 %     35 %     35 %     35 %
 
*   Amortization of loan fees is included in Interest expense.
 
**   For the year ended December 31, 2001, fixed charges exceeded earnings before income taxes and fixed charges by $262.0 million.