Annual report pursuant to Section 13 and 15(d)

SEGMENT DATA

v3.20.4
SEGMENT DATA
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
SEGMENT DATA SEGMENT DATA
Our reportable segments are Concerts, Ticketing and Sponsorship & Advertising. Our Concerts segment involves the promotion of live music events globally in our owned or operated venues and in rented third-party venues, the production of music festivals, the operation and management of music venues, the creation of associated content and the provision of management and other services to artists. Our Ticketing segment involves the management of our global ticketing operations, including providing ticketing software and services to clients, and consumers with a marketplace, both online and mobile, for tickets and event information, and is responsible for our primary ticketing website, www.ticketmaster.com. Our Sponsorship & Advertising segment manages the development of strategic sponsorship programs in addition to the sale of international, national and local sponsorships and placement of advertising such as signage, promotional programs, rich media offerings, including advertising associated with live streaming and music-related content, and ads across our distribution network of venues, events and websites.
Revenue and expenses earned and charged between segments are eliminated in consolidation. Our capital expenditures below include accruals for amounts incurred but not yet paid for, but are not reduced by reimbursements received from outside parties such as landlords and noncontrolling interest partners or replacements funded by insurance proceeds.
We manage our working capital on a consolidated basis. Accordingly, segment assets are not reported to, or used by, our management to allocate resources to or assess performance of our segments, and therefore, total segment assets have not been presented.
There were no customers that individually accounted for more than 10% of our consolidated revenue in any year.
The following table presents the results of operations for our reportable segments for the years ending December 31, 2020, 2019 and 2018:
Concerts Ticketing Sponsorship
& Advertising		 Other Corporate Eliminations Consolidated
  (in thousands)
2020
Revenue $ 1,468,433  $ 188,383  $ 203,676  $ 3,233  $ —  $ (2,547) $ 1,861,178 
Direct operating expenses 1,222,997  129,433  52,517  —  —  (2,547) 1,402,400 
Selling, general and administrative expenses 937,651  501,032  75,669  9,990  —  —  1,524,342 
Depreciation and amortization 266,255  169,921  30,617  6,684  11,548  —  485,025 
Loss (gain) on disposal of operating assets 505  (1) —  (1) —  —  503 
Corporate expenses —  —  —  —  102,100  —  102,100 
Operating income (loss) $ (958,975) $ (612,002) $ 44,873  $ (13,440) $ (113,648) $ —  $ (1,653,192)
Intersegment revenue $ 712  $ 1,835  $ —  $ —  $ —  $ (2,547) $ — 
Capital expenditures $ 119,730  $ 77,018  $ 5,781  $ —  $ 6,886  $ —  $ 209,415 
2019
Revenue $ 9,428,094  $ 1,545,189  $ 590,274  $ 3,162  $ —  $ (18,750) $ 11,547,969 
Direct operating expenses 7,857,437  514,169  114,326  —  —  (18,750) 8,467,182 
Selling, general and administrative expenses 1,386,928  642,052  112,594  3,912  —  —  2,145,486 
Depreciation and amortization 239,682  156,894  33,084  364  13,967  —  443,991 
Loss (gain) on disposal of operating assets (2,490) 116  —  —  1  —  (2,373)
Corporate expenses —  —  —  —  168,839  —  168,839 
Operating income (loss) $ (53,463) $ 231,958  $ 330,270  $ (1,114) $ (182,807) $ —  $ 324,844 
Intersegment revenue $ 6,672  $ 12,078  $ —  $ —  $ —  $ (18,750) $ — 
Capital expenditures $ 186,819  $ 105,246  $ 10,261  $ —  $ 35,252  $ —  $ 337,578 
2018
Revenue $ 8,770,031  $ 1,529,566  $ 503,968  $ 3,724  $ —  $ (19,489) $ 10,787,800 
Direct operating expenses 7,340,757  549,265  92,494  4,905  —  (19,489) 7,967,932 
Selling, general and administrative expenses 1,248,346  634,829  97,540  16,313  —  —  1,997,028 
Depreciation and amortization 206,772  143,551  30,779  817  4,610  —  386,529 
Loss (gain) on disposal of operating assets 10,361  7  2  —  (1) —  10,369 
Corporate expenses —  —  —  —  153,406  —  153,406 
Operating income (loss) $ (36,205) $ 201,914  $ 283,153  $ (18,311) $ (158,015) $ —  $ 272,536 
Intersegment revenue $ 5,193  $ 14,296  $ —  $ —  $ —  $ (19,489) $ — 
Capital expenditures $ 129,129  $ 110,202  $ 7,541  $ 169  $ 15,273  $ —  $ 262,314 
The following table provides revenue and long-lived assets for our foreign operations included in the consolidated financial statements:
United Kingdom Operations Other Foreign Operations Total Foreign Operations Total Domestic Operations Consolidated Total
(in thousands)
2020
Revenue $ 194,177  $ 472,364  $ 666,541  $ 1,194,637  $ 1,861,178 
Long-lived assets $ 91,192  $ 184,679  $ 275,871  $ 825,543  $ 1,101,414 
2019
Revenue $ 838,940  $ 3,076,486  $ 3,915,426  $ 7,632,543  $ 11,547,969 
Long-lived assets $ 77,084  $ 186,265  $ 263,349  $ 854,583  $ 1,117,932 
2018
Revenue $ 793,596  $ 2,867,626  $ 3,661,222  $ 7,126,578  $ 10,787,800 
Long-lived assets $ 71,298  $ 128,001  $ 199,299  $ 747,294  $ 946,593