Quarterly report pursuant to Section 13 or 15(d)

SEGMENT DATA

v3.4.0.3
SEGMENT DATA
 3 Months Ended
Mar. 31, 2016
Segment Reporting [Abstract]  
SEGMENT DATA
SEGMENT DATA
The Company’s reportable segments are Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment involves the promotion of live music events globally in the Company’s owned or operated venues and in rented third-party venues, the production of music festivals, the operation and management of music venues and the creation of associated content. The 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 including signage, promotional programs, rich media offerings, including advertising associated with live streaming and music-related original content, and ads across the Company’s distribution network of venues, events and websites. The Ticketing segment involves the management of the Company’s global ticketing operations, including providing ticketing software and services to clients, ticket resale services and online access for customers relating to ticket and event information, and is responsible for the Company’s primary websites, www.livenation.com and www.ticketmaster.com. The Artist Nation segment provides management services to artists and other services including merchandise sales.
Revenue and expenses earned and charged between segments are eliminated in consolidation. The Company’s capital expenditures below include accruals and expenditures funded by outside parties such as landlords or replacements funded by insurance companies.
The Company manages its working capital on a consolidated basis. Accordingly, segment assets are not reported to, or used by, the Company’s management to allocate resources to or assess performance of the segments, and therefore, total segment assets have not been presented.
The following table presents the results of operations for the Company’s reportable segments for the three months ended March 31, 2016 and 2015:
 
Concerts
 
Sponsorship
& Advertising
 
Ticketing
 
Artist
Nation
 
Other
 
Corporate
 
Eliminations
 
Consolidated
 
(in thousands)
Three Months Ended March 31, 2016
 
 
 
 
 
 
 
 
 
 
Revenue
$
681,078

 
$
57,636

 
$
405,786

 
$
75,065

 
$
841

 
$
—

 
$
(12,690
)
 
$
1,207,716

Direct operating expenses
537,134

 
13,514

 
206,465

 
39,211

 
—

 
—

 
(12,121
)
 
784,203

Selling, general and administrative expenses
160,698

 
13,869

 
118,233

 
40,778

 
2,603

 
—

 
—

 
336,181

Depreciation and amortization
31,447

 
4,906

 
45,749

 
12,480

 
20

 
922

 
(569
)
 
94,955

Loss (gain) on disposal of operating assets
(34
)
 
—

 
—

 
—

 
—

 
59

 
—

 
25

Corporate expenses
—

 
—

 
—

 
—

 
—

 
24,506

 
—

 
24,506

Acquisition transaction expenses
942

 
—

 
29

 
62

 
—

 
103

 
—

 
1,136

Operating income (loss)
$
(49,109
)
 
$
25,347

 
$
35,310

 
$
(17,466
)
 
$
(1,782
)
 
$
(25,590
)
 
$
—

 
$
(33,290
)
Intersegment revenue
$
11,447

 
$
1,003

 
$
—

 
$
240

 
$
—

 
$
—

 
$
(12,690
)
 
$
—

Capital expenditures
$
5,843

 
$
318

 
$
16,259

 
$
329

 
$
20

 
$
1,757

 
$
—

 
$
24,526

Three Months Ended March 31, 2015
 
 
 
 
 
 
 
 
 
 
Revenue
$
623,234

 
$
52,097

 
$
375,630

 
$
77,945

 
$
793

 
$
—

 
$
(9,387
)
 
$
1,120,312

Direct operating expenses
485,972

 
10,628

 
185,692

 
46,830

 
1,068

 
—

 
(8,901
)
 
721,289

Selling, general and administrative expenses
150,990

 
13,094

 
112,413

 
37,214

 
834

 
—

 
—

 
314,545

Depreciation and amortization
29,181

 
1,988

 
43,296

 
10,035

 
11

 
516

 
(486
)
 
84,541

Loss (gain) on disposal of operating assets
226

 
—

 
(149
)
 
—

 
—

 
(38
)
 
—

 
39

Corporate expenses
—

 
—

 
—

 
—

 
—

 
24,360

 
—

 
24,360

Acquisition transaction expenses
(566
)
 
—

 
147

 
6

 
—

 
(114
)
 
—

 
(527
)
Operating income (loss)
$
(42,569
)
 
$
26,387

 
$
34,231

 
$
(16,140
)
 
$
(1,120
)
 
$
(24,724
)
 
$
—

 
$
(23,935
)
Intersegment revenue
$
8,739

 
$
—

 
$
—

 
$
648

 
$
—

 
$
—

 
$
(9,387
)
 
$
—

Capital expenditures
$
4,927

 
$
5

 
$
19,874

 
$
762

 
$
—

 
$
229

 
$
—

 
$
25,797