| Results of Operations Related to Reportable Segments of the Entity |
The following table presents the results of operations for our reportable segments for the three months ended March 31, 2019 and 2018:
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Concerts |
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Ticketing |
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Sponsorship
& Advertising |
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Other |
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Corporate |
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Eliminations |
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Consolidated |
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(in thousands) |
Three Months Ended March 31, 2019 |
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Revenue |
$ |
1,318,117 |
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|
$ |
337,642 |
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|
$ |
75,078 |
|
|
$ |
791 |
|
|
$ |
— |
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|
$ |
(3,800 |
) |
|
$ |
1,727,828 |
|
Direct operating expenses |
1,030,269 |
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|
111,749 |
|
|
13,386 |
|
|
— |
|
|
— |
|
|
(3,800 |
) |
|
1,151,604 |
|
Selling, general and administrative expenses |
295,765 |
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|
145,890 |
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|
22,437 |
|
|
774 |
|
|
— |
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|
— |
|
|
464,866 |
|
Depreciation and amortization |
51,361 |
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|
37,390 |
|
|
7,074 |
|
|
121 |
|
|
2,966 |
|
|
— |
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|
98,912 |
|
Gain on disposal of operating assets |
(145 |
) |
|
(2 |
) |
|
— |
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— |
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— |
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— |
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|
(147 |
) |
Corporate expenses |
— |
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|
— |
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|
— |
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|
— |
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|
36,456 |
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|
— |
|
|
36,456 |
|
Operating income (loss) |
$ |
(59,133 |
) |
|
$ |
42,615 |
|
|
$ |
32,181 |
|
|
$ |
(104 |
) |
|
$ |
(39,422 |
) |
|
$ |
— |
|
|
$ |
(23,863 |
) |
Intersegment revenue |
$ |
809 |
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|
$ |
2,991 |
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$ |
— |
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$ |
— |
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|
$ |
— |
|
|
$ |
(3,800 |
) |
|
$ |
— |
|
Capital expenditures |
$ |
33,593 |
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|
$ |
23,655 |
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|
$ |
1,185 |
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|
$ |
— |
|
|
$ |
4,333 |
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|
$ |
— |
|
|
$ |
62,766 |
|
Three Months Ended March 31, 2018 |
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Revenue |
$ |
1,038,921 |
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|
$ |
372,373 |
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|
$ |
74,558 |
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|
$ |
777 |
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|
$ |
— |
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|
$ |
(4,245 |
) |
|
$ |
1,482,384 |
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Direct operating expenses |
796,165 |
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|
124,284 |
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|
15,751 |
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|
129 |
|
|
— |
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|
(4,245 |
) |
|
932,084 |
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Selling, general and administrative expenses |
261,091 |
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|
149,583 |
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|
20,095 |
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|
3,842 |
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|
— |
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— |
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|
434,611 |
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Depreciation and amortization |
45,535 |
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|
33,633 |
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|
7,610 |
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|
209 |
|
|
884 |
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|
— |
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|
87,871 |
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Loss on disposal of operating assets |
21 |
|
|
17 |
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|
— |
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|
— |
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|
— |
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|
— |
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|
38 |
|
Corporate expenses |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
33,810 |
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|
— |
|
|
33,810 |
|
Operating income (loss) |
$ |
(63,891 |
) |
|
$ |
64,856 |
|
|
$ |
31,102 |
|
|
$ |
(3,403 |
) |
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$ |
(34,694 |
) |
|
$ |
— |
|
|
$ |
(6,030 |
) |
Intersegment revenue |
$ |
249 |
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|
$ |
3,996 |
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$ |
— |
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$ |
— |
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|
$ |
— |
|
|
$ |
(4,245 |
) |
|
$ |
— |
|
Capital expenditures |
$ |
19,613 |
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$ |
20,305 |
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|
$ |
382 |
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|
$ |
12 |
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$ |
854 |
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$ |
— |
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|
$ |
41,166 |
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