Quarterly report pursuant to Section 13 or 15(d)

SEGMENT DATA

v3.21.1
SEGMENT DATA
 3 Months Ended
Mar. 31, 2021
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 and noncontrolling interest partners 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 months ended March 31, 2021 and 2020:
Concerts Ticketing Sponsorship
& Advertising		 Other Corporate Eliminations Consolidated
(in thousands)
Three Months Ended March 31, 2021
Revenue $ 239,416  $ 28,322  $ 22,647  $ 815  $ —  $ (591) $ 290,609 
Direct operating expenses 113,904  17,832  2,821  —  —  (591) 133,966 
Selling, general and administrative expenses 207,847  94,668  19,103  1,235  —  —  322,853 
Depreciation and amortization 62,886  36,478  7,164  11  2,337  —  108,876 
Loss on disposal of operating assets 138  —  —  —  —  —  138 
Corporate expenses —  —  —  —  27,948  —  27,948 
Operating loss $ (145,359) $ (120,656) $ (6,441) $ (431) $ (30,285) $ —  $ (303,172)
Intersegment revenue $ 591  $ —  $ —  $ —  $ —  $ (591) $ — 
Capital expenditures $ 6,653  $ 9,675  $ 1,160  $ —  $ 1,449  $ —  $ 18,937 
Three Months Ended March 31, 2020
Revenue $ 993,393  $ 284,277  $ 90,261  $ 796  $ —  $ (3,034) $ 1,365,693 
Direct operating expenses 750,905  104,413  21,536  —  —  (3,034) 873,820 
Selling, general and administrative expenses 331,276  157,546  22,987  2,212  —  —  514,021 
Depreciation and amortization 72,216  38,176  7,512  53  4,123  —  122,080 
Loss on disposal of operating assets 127  2  —  1  —  —  130 
Corporate expenses —  —  —  —  28,312  —  28,312 
Operating income (loss) $ (161,131) $ (15,860) $ 38,226  $ (1,470) $ (32,435) $ —  $ (172,670)
Intersegment revenue $ 1,233  $ 1,801  $ —  $ —  $ —  $ (3,034) $ — 
Capital expenditures $ 48,871  $ 22,167  $ 1,292  $ —  $ 3,442  $ —  $ 75,772