Quarterly report pursuant to Section 13 or 15(d)

SEGMENT DATA

v3.19.3
SEGMENT DATA
 9 Months Ended
Sep. 30, 2019
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 original 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 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 the segments, and therefore, total segment assets have not been presented.
The following table presents the results of operations for our reportable segments for the three and nine months ended September 30, 2019 and 2018:
Concerts Ticketing Sponsorship
& Advertising		 Other Corporate Eliminations Consolidated
(in thousands)
Three Months Ended September 30, 2019
Revenue $ 3,173,843    $ 388,458    $ 215,247    $ 791    $ —    $ (4,655)   $ 3,773,684   
Direct operating expenses 2,636,344    127,123    41,617    —    —    (4,655)   2,800,429   
Selling, general and administrative expenses 355,198    157,590    29,055    704    —    —    542,547   
Depreciation and amortization 71,247    39,562    11,332    145    4,020    —    126,306   
Loss (gain) on disposal of operating assets (320)   15    —    —    —    —    (305)  
Corporate expenses —    —    —    —    44,666    —    44,666   
Operating income (loss) $ 111,374    $ 64,168    $ 133,243    $ (58)   $ (48,686)   $ —    $ 260,041   
Intersegment revenue $ 2,092    $ 2,563    $ —    $ —    $ —    $ (4,655)   $ —   
Three Months Ended September 30, 2018
Revenue $ 3,297,257    $ 368,312    $ 171,178    $ 932    $ —    $ (2,433)   $ 3,835,246   
Direct operating expenses 2,767,949    133,050    23,191    2,599    —    (2,433)   2,924,356   
Selling, general and administrative expenses 343,250    151,064    25,325    5,015    —    —    524,654   
Depreciation and amortization 54,404    34,677    8,871    212    1,442    —    99,606   
Loss (gain) on disposal of operating assets 10,317    2    —    —    (1)   —    10,318   
Corporate expenses —    —    —    —    42,093    —    42,093   
Operating income (loss) $ 121,337    $ 49,519    $ 113,791    $ (6,894)   $ (43,534)   $ —    $ 234,219   
Intersegment revenue $ 268    $ 2,165    $ —    $ —    $ —    $ (2,433)   $ —   
Nine Months Ended September 30, 2019
Revenue $ 7,131,491    $ 1,096,865    $ 441,862    $ 2,372    $ —    $ (14,069)   $ 8,658,521   
Direct operating expenses 5,853,380    359,502    80,634    —    —    (14,069)   6,279,447   
Selling, general and administrative expenses 989,017    449,862    79,661    2,370    —    —    1,520,910   
Depreciation and amortization 176,827    116,465    24,780    404    10,568    —    329,044   
Loss (gain) on disposal of operating assets (675)   122    —    —    —    —    (553)  
Corporate expenses —    —    —    —    121,909    —    121,909   
Operating income (loss) $ 112,942    $ 170,914    $ 256,787    $ (402)   $ (132,477)   $ —    $ 407,764   
Intersegment revenue $ 5,032    $ 9,037    $ —    $ —    $ —    $ (14,069)   $ —   
Capital expenditures $ 127,818    $ 78,414    $ 5,529    $ —    $ 17,374    $ —    $ 229,135   
Concerts Ticketing Sponsorship
& Advertising		 Other Corporate Eliminations Consolidated
(in thousands)
Nine Months Ended September 30, 2018
Revenue $ 6,716,914    $ 1,091,880    $ 385,674    $ 2,886    $ —    $ (11,409)   $ 8,185,945   
Direct operating expenses 5,554,368    377,121    68,142    3,325    —    (11,409)   5,991,547   
Selling, general and administrative expenses 906,360    447,997    68,534    12,812    —    —    1,435,703   
Depreciation and amortization 146,458    103,299    23,613    599    3,293    —    277,262   
Loss (gain) on disposal of operating assets 10,452    13    —    —    (1)   —    10,464   
Corporate expenses —    —    —    —    108,055    —    108,055   
Operating income (loss) $ 99,276    $ 163,450    $ 225,385    $ (13,850)   $ (111,347)   $ —    $ 362,914   
Intersegment revenue $ 268    $ 11,141    $ —    $ —    $ —    $ (11,409)   $ —   
Capital expenditures $ 88,338    $ 71,336    $ 4,241    $ 149    $ 8,839    $ —    $ 172,903