Quarterly report pursuant to Section 13 or 15(d)

SEGMENT DATA

v3.20.2
SEGMENT DATA
 6 Months Ended
Jun. 30, 2020
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 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 our 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 six months ended June 30, 2020 and 2019:
Concerts Ticketing Sponsorship
& Advertising		 Other Corporate Eliminations Consolidated
(in thousands)
Three Months Ended June 30, 2020
Revenue $ 141,823    $ (87,019)   $ 18,372    $ 805    $ —    $ 103    $ 74,084   
Direct operating expenses 182,217    8,051    4,186    —    —    103    194,557   
Selling, general and administrative expenses 174,554    127,811    17,783    3,204    —    —    323,352   
Depreciation and amortization 64,342    44,313    7,620    4,385    2,107    —    122,767   
Loss (gain) on disposal of operating assets 561    (1)   —    (1)   —    —    559   
Corporate expenses —    —    —    —    20,916    —    20,916   
Operating income (loss) $ (279,851)   $ (267,193)   $ (11,217)   $ (6,783)   $ (23,023)   $ —    $ (588,067)  
Intersegment revenue $ (136)   $ 33    $ —    $ —    $ —    $ 103    $ —   
Concerts Ticketing Sponsorship
& Advertising		 Other Corporate Eliminations Consolidated
(in thousands)
Three Months Ended June 30, 2019
Revenue $ 2,639,531    $ 370,765    $ 151,537    $ 790    $ —    $ (5,614)   $ 3,157,009   
Direct operating expenses 2,186,767    120,630    25,631    —    —    (5,614)   2,327,414   
Selling, general and administrative expenses 338,054    146,382    28,169    892    —    —    513,497   
Depreciation and amortization 54,219    39,513    6,374    138    3,582    —    103,826   
Loss (gain) on disposal of operating assets (210)   109    —    —    —    —    (101)  
Corporate expenses —    —    —    —    40,787    —    40,787   
Operating income (loss) $ 60,701    $ 64,131    $ 91,363    $ (240)   $ (44,369)   $ —    $ 171,586   
Intersegment revenue $ 2,131    $ 3,483    $ —    $ —    $ —    $ (5,614)   $ —   
Six Months Ended June 30, 2020
Revenue $ 1,135,216    $ 197,258    $ 108,633    $ 1,601    $ —    $ (2,931)   $ 1,439,777   
Direct operating expenses 933,122    112,464    25,722    —    —    (2,931)   1,068,377   
Selling, general and administrative expenses 505,830    285,357    40,770    5,416    —    —    837,373   
Depreciation and amortization 136,558    82,489    15,132    4,438    6,230    —    244,847   
Loss on disposal of operating assets 688    1    —    —    —    —    689   
Corporate expenses —    —    —    —    49,228    —    49,228   
Operating income (loss) $ (440,982)   $ (283,053)   $ 27,009    $ (8,253)   $ (55,458)   $ —    $ (760,737)  
Intersegment revenue $ 1,097    $ 1,834    $ —    $ —    $ —    $ (2,931)   $ —   
Capital expenditures $ 83,485    $ 39,237    $ 2,679    $ —    $ 5,542    $ —    $ 130,943   
Six Months Ended June 30, 2019
Revenue $ 3,957,648    $ 708,407    $ 226,615    $ 1,581    $ —    $ (9,414)   $ 4,884,837   
Direct operating expenses 3,217,036    232,379    39,017    —    —    (9,414)   3,479,018   
Selling, general and administrative expenses 633,819    292,272    50,606    1,666    —    —    978,363   
Depreciation and amortization 105,580    76,903    13,448    259    6,548    —    202,738   
Loss (gain) on disposal of operating assets (355)   107    —    —    —    —    (248)  
Corporate expenses —    —    —    —    77,243    —    77,243   
Operating income (loss) $ 1,568    $ 106,746    $ 123,544    $ (344)   $ (83,791)   $ —    $ 147,723   
Intersegment revenue $ 2,940    $ 6,474    $ —    $ —    $ —    $ (9,414)   $ —   
Capital expenditures $ 78,873    $ 48,745    $ 3,301    $ —    $ 9,231    $ —    $ 140,150