| Schedule of Segment Reporting Information, by Segment [Table Text Block] |
The following table presents the results of operations for our reportable segments for the years ending December 31, 2023, 2022 and 2021:
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Concerts |
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Ticketing |
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Sponsorship
& Advertising |
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Other & Eliminations |
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Corporate |
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Consolidated |
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(in thousands) |
| 2023 |
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| Revenue |
$ |
18,763,669 |
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$ |
2,959,477 |
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$ |
1,095,217 |
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$ |
(69,290) |
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$ |
— |
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$ |
22,749,073 |
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| % of Consolidated Revenue |
82.5% |
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13.0% |
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4.8% |
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(0.3)% |
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| Intersegment revenue |
$ |
17,773 |
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$ |
51,517 |
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$ |
— |
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$ |
(69,290) |
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$ |
— |
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$ |
— |
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| AOI |
$ |
325,497 |
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$ |
1,116,303 |
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$ |
675,137 |
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$ |
(39,574) |
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$ |
(214,974) |
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$ |
1,862,389 |
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| Capital expenditures |
$ |
346,392 |
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$ |
68,991 |
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$ |
18,250 |
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$ |
— |
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$ |
35,118 |
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$ |
468,751 |
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| 2022 |
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| Revenue |
$ |
13,494,100 |
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$ |
2,238,618 |
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$ |
968,146 |
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$ |
(19,610) |
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$ |
— |
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$ |
16,681,254 |
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| % of Consolidated Revenue |
80.9% |
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13.4% |
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5.8% |
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(0.1)% |
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| Intersegment revenue |
$ |
12,821 |
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$ |
8,643 |
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$ |
— |
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$ |
(21,464) |
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$ |
— |
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$ |
— |
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| AOI |
$ |
169,740 |
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$ |
827,901 |
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$ |
591,972 |
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$ |
(14,549) |
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$ |
(167,882) |
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$ |
1,407,182 |
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| Capital expenditures |
$ |
277,133 |
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$ |
70,739 |
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$ |
19,383 |
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$ |
(17) |
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$ |
9,680 |
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$ |
376,918 |
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| 2021 |
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| Revenue |
$ |
4,722,190 |
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$ |
1,134,268 |
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$ |
411,910 |
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$ |
79 |
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$ |
— |
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$ |
6,268,447 |
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| % of Consolidated Revenue |
75.3% |
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18.1% |
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6.6% |
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$ |
— |
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| Intersegment revenue |
$ |
2,505 |
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$ |
404 |
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$ |
— |
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$ |
(2,909) |
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$ |
— |
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$ |
— |
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| AOI |
$ |
(221,338) |
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$ |
420,545 |
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$ |
242,239 |
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$ |
(6,963) |
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$ |
(110,620) |
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$ |
323,863 |
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| Capital expenditures |
$ |
92,132 |
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$ |
49,004 |
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$ |
12,299 |
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$ |
— |
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$ |
23,036 |
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$ |
176,471 |
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| Reconciliation of AOI to Operating Income (Loss) [Table Text Block] |
The following table sets forth the reconciliation of consolidated AOI to operating income (loss) for the for the years ended December 31, 2023, 2022 and 2021:
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2023 |
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2022 |
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2021 |
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(in thousands) |
| AOI |
$ |
1,862,389 |
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$ |
1,407,182 |
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$ |
323,863 |
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| Acquisition expenses |
93,664 |
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68,078 |
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42,912 |
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| Amortization of non-recoupable ticketing contract advance |
83,693 |
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79,043 |
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74,406 |
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| Depreciation and amortization |
516,797 |
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449,976 |
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416,277 |
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| Gain on sale of operating assets |
(13,927) |
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(32,082) |
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(1,211) |
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| Stock-based compensation expense |
115,959 |
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110,049 |
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209,337 |
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| Operating income (loss) |
$ |
1,066,203 |
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$ |
732,118 |
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$ |
(417,858) |
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| Contract with Customer, Asset and Liability [Table Text Block] |
Deferred Revenue
The majority of our deferred revenue is typically classified as current and is shown as a separate line item on the consolidated balance sheets. Deferred revenue that is not expected to be recognized within the next twelve months is classified as long-term and reflected in other long-term liabilities on the consolidated balance sheets. At December 31, 2023, 2022 and 2021, we had current deferred revenue of $3.4 billion, $3.1 billion and $2.8 billion, respectively.
The table below summarizes the amount of prior year current deferred revenue recognized during the years ended December 31, 2023 and 2022:
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December 31, |
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2023 |
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2022 |
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(in thousands) |
| Concerts |
$ |
2,757,149 |
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$ |
2,327,040 |
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| Ticketing |
142,940 |
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134,966 |
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| Sponsorship & Advertising |
126,530 |
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133,318 |
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$ |
3,026,619 |
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$ |
2,595,324 |
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