| 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, 2024, 2023 and 2022:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Concerts |
|
Ticketing |
|
Sponsorship
& Advertising |
|
|
|
Other & Eliminations |
|
Corporate |
|
Consolidated |
| |
(in thousands) |
| 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
$ |
19,024,302 |
|
$ |
2,988,685 |
|
$ |
1,195,019 |
|
|
|
$ |
(52,381) |
|
$ |
— |
|
|
$ |
23,155,625 |
|
| % of Consolidated Revenue |
82.2% |
|
12.9% |
|
5.2% |
|
|
|
(0.3)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other Segment Items |
18,494,554 |
|
1,865,097 |
|
431,242 |
|
|
|
(24,121) |
|
242,955 |
|
|
21,009,727 |
|
| AOI |
$ |
529,748 |
|
$ |
1,123,588 |
|
$ |
763,777 |
|
|
|
$ |
(28,260) |
|
$ |
(242,955) |
|
|
$ |
2,145,898 |
|
| Intersegment revenue |
$ |
29,633 |
|
$ |
22,220 |
|
$ |
528 |
|
|
|
$ |
(52,381) |
|
$ |
— |
|
|
$ |
— |
|
| Capital expenditures |
$ |
491,691 |
|
$ |
87,925 |
|
$ |
24,507 |
|
|
|
$ |
— |
|
$ |
33,508 |
|
|
$ |
637,631 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue (1)
|
$ |
18,740,913 |
|
$ |
2,959,477 |
|
$ |
1,095,217 |
|
|
|
$ |
(69,290) |
|
$ |
— |
|
|
$ |
22,726,317 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| % of Consolidated Revenue |
82.5% |
|
13.0% |
|
4.8% |
|
|
|
(0.3)% |
|
|
|
|
| Other Segment Items |
18,420,516 |
|
1,819,344 |
|
420,080 |
|
|
|
(29,716) |
|
214,974 |
|
|
20,845,198 |
|
AOI (2)
|
$ |
320,397 |
|
$ |
1,140,133 |
|
$ |
675,137 |
|
|
|
$ |
(39,574) |
|
$ |
(214,974) |
|
|
$ |
1,881,119 |
|
| Intersegment revenue |
$ |
17,773 |
|
$ |
51,517 |
|
$ |
— |
|
|
|
$ |
(69,290) |
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Capital expenditures |
$ |
346,392 |
|
$ |
68,991 |
|
$ |
18,250 |
|
|
|
$ |
— |
|
$ |
35,118 |
|
|
$ |
468,751 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue |
$ |
13,494,100 |
|
$ |
2,238,618 |
|
$ |
968,146 |
|
|
|
$ |
(19,610) |
|
$ |
— |
|
|
$ |
16,681,254 |
|
| % of Consolidated Revenue |
80.9% |
|
13.4% |
|
5.8% |
|
|
|
(0.1)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other Segment Items |
13,319,260 |
|
1,425,904 |
|
376,174 |
|
|
|
(5,061) |
|
167,882 |
|
|
15,284,159 |
|
AOI (2)
|
$ |
174,840 |
|
$ |
812,714 |
|
$ |
591,972 |
|
|
|
$ |
(14,549) |
|
$ |
(167,882) |
|
|
$ |
1,397,095 |
|
| Intersegment revenue |
$ |
12,821 |
|
$ |
8,643 |
|
$ |
— |
|
|
|
$ |
(21,464) |
|
$ |
— |
|
|
$ |
— |
|
| Capital expenditures |
$ |
277,133 |
|
$ |
70,739 |
|
$ |
19,383 |
|
|
|
$ |
(17) |
|
$ |
9,680 |
|
|
$ |
376,918 |
|
___________________
|
|
|
|
|
|
(1) |
Prior period revenue was revised as further discussed in Note 2 – Correction of Errors in Previously Reported Consolidated Financial Statements. For the year ended December 31, 2023, the revision decreased our Concerts segment revenue by $22.8 million. |
(2) |
Prior period AOI was revised as further discussed in Note 2 – Correction of Errors in Previously Reported Consolidated Financial Statements. For the years ended December 31, 2023 and December 31, 2022, the revision decreased our Concerts segment AOI by $5.1 million and increased AOI by $5.1 million, respectively. For the years ended December 31, 2023 and December 31, 2022, the revision increased our Ticketing segment AOI by $23.8 million and decreased AOI by $15.2 million, respectively. |
|
| Reconciliation of AOI to Operating Income (Loss) [Table Text Block] |
The following table sets forth the reconciliation of consolidated AOI to operating income for the for the years ended December 31, 2024, 2023 and 2022:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
2023 |
|
2022 |
|
(in thousands) |
AOI (1)
|
$ |
2,145,898 |
|
|
$ |
1,881,119 |
|
|
$ |
1,397,095 |
|
|
|
|
|
|
|
| Acquisition expenses |
128,513 |
|
|
93,664 |
|
|
68,078 |
|
| Amortization of non-recoupable ticketing contract advance |
88,717 |
|
|
83,693 |
|
|
79,043 |
|
| Depreciation and amortization |
549,923 |
|
|
516,797 |
|
|
449,976 |
|
| Gain on sale of operating assets |
(11,015) |
|
|
(13,927) |
|
|
(32,082) |
|
| Astroworld estimated loss contingencies |
454,902 |
|
|
— |
|
|
— |
|
| Stock-based compensation expense |
110,348 |
|
|
115,959 |
|
|
110,049 |
|
Operating income (1)
|
$ |
824,510 |
|
|
$ |
1,084,933 |
|
|
$ |
722,031 |
|
___________________
(1) For the years ended December 31, 2023 and December 31, 2022, the revision increased our AOI and operating income by $18.7 million for 2023 and decreased our AOI and operating income by $10.1 million for 2022, respectively. See further discussion in Note 2 – Correction of Errors in Previously Reported Consolidated Financial Statements.
|