LIVE NATION ENTERTAINMENT REPORTS THIRD QUARTER 2026 RESULTS

“In a world of endless screens and AI-generated everything, the one thing that can't be replicated is being there. Artists are taking their music to more fans in more places than ever, and fans are showing up in record numbers. Through October, we've sold 170 million tickets, up 13% and already ahead of all of last year. We now expect to welcome nearly 180 million fans in 2026.

This quarter attendance grew 19%, and year-to-date, international markets surpassed the U.S. in both concert attendance and sponsorship revenue — a powerful sign of how global live music has become. We're investing in more venues around the world, giving artists more stages to build their careers and fans more opportunities to experience the magic of live music. With double-digit adjusted operating income (AOI) growth across all three segments this quarter, we're on track to deliver another record year and sustain double-digit growth for years to come.” –Michael Rapino, President and CEO

ARTISTS REACH MORE FANS WORLDWIDE DRIVING A RECORD QUARTER (3Q26 vs. 3Q25 unless otherwise noted)

• Revenue of $10.1 billion, up 19%
• Operating income of $892 million, up 13%
• AOI of $1.18 billion, up 14%
• Global key operating metrics achieved new levels:
• Fan attendance of 61 million, up 19%
• Fee-bearing tickets of 98 million, up 10% and fee-bearing Gross Transaction Value (GTV) of $11.2 billion, up 13%
• International markets drove global strength, including:
• Fan attendance up 29%, accounting for 60% of total fan growth
• Fee-bearing tickets up 20%, contributing 75% of total fee-bearing ticket growth
• Sponsorship AOI up 12% as international sponsorship surpassed North America in operating income and AOI for the quarter
• Ticket sales for 2026 shows up 13% to approximately 170 million through late October, already exceeding full-year 2025, with stadium, arena, and amphitheater fan count each up mid-teens or higher
• Venue Nation attendance for the year now expected to exceed 75 million, up more than 15% year-over-year
• Through Q3, ticketing GTV for primary tickets sold for 2027 shows up double-digits compared to same point last year, driven by double-digit growth in North America primary ticket volume

ARTISTS DRAW RECORD ATTENDANCE WORLDWIDE (3Q26 vs. 3Q25 unless otherwise noted)

• Revenue of $8.7 billion, up 20%
• AOI of $603 million, up 17%
• Global fan attendance of 61 million, up 19%, reflecting broad-based demand across all regions and large venue types:
• North America up 13% with stadiums and amphitheaters driving 90% of the growth
• International up 29%, with all regions up at least 15%
• Fan attendance at third-party stadiums up over 40%, accounting for more than half of global fan growth
• Concerts remain a high consumer priority:
• Ticket sales exceeded prior-year levels every month of 2026 through October
• Ticket sales for the month of October up over 20%, reflecting strong show closings
• September marked an all-time monthly high for amphitheater attendance and number of shows
• Sell-through rates are ahead of last year while cancellation rates pace below year-to-date
• Record Q3 event-related deferred revenue of $3.8 billion, up 8%
• Prepaid advertising expense for 2027 shows up double-digits at the end of Q3
• Fan attendance now expected to approach 180 million for the full year, delivering double-digit growth
• Concerts on track to deliver double-digit AOI growth for the full year

VENUE NATION EXPANDS STAGES FOR ARTISTS WORLDWIDE AND ENHANCES FAN EXPERIENCES

• Venue Nation hosted 26 million fans in Q3, up 17% and now expected to host over 75 million fans in 2026
• Arenas outside the U.S. expected to deliver 75% of owned or operated fan growth at our large venues for the full year, with attendance now surpassing U.S. amphitheaters
• Fans are choosing a range of experiences at our large U.S. amphitheaters, with upgrade purchases and VIP revenue per ticket up double-digits while value menu unit sales more than doubled
• Similar strength internationally, with onsite spending at our European arenas up double-digits
• On track to open or acquire 10 large (over 3,000 capacity) venues through the end of the year, which are expected to deliver over 5 million fans this year with a run-rate of nearly 8 million

INTERNATIONAL SPONSORSHIP SURPASSES NORTH AMERICA (3Q26 vs. 3Q25 unless otherwise noted)

• Revenue of $506 million, up 14%
• AOI of $350 million, up 12%
• International markets, led by ticket access, venues, and festivals, contributed 65% of sponsorship revenue growth for the quarter
• Sponsorship AOI on track to grow double-digits for the full year

DEMAND FOR ARTISTS’ SHOWS DRIVES RECORD Q3 TICKETING RESULTS (3Q26 vs. 3Q25 unless otherwise noted)

• Revenue of $870 million, up 9%
• AOI of $316 million, up 10%
• Record fee-bearing ticket volume of 98 million, up 10%
• Concerts accounted for 95% of fee-bearing ticket growth, benefitting from successful early 2027 on sales
• International markets contributed 75% of fee-bearing ticket growth
• Secondary ticket GTV flat, with growth in sports offsetting lower concert resale activity, consistent with efforts to constrain scalper sales
• Net new ticketing agreements added 23 million tickets, over 70% from international markets, expanding our ability to help artists and venues reach fans
• Full-year AOI growth is now expected to be up high single-digits

STRONG CASH GENERATION SUPPORTS INVESTMENT IN MORE STAGES FOR ARTISTS

• Year-to-date operating cash flow of $2.1 billion, up 45% and free cash flow—adjusted of $1.6 billion, up 25% with AOI to free cash flow—adjusted conversion of 69%, up from 60% last year
• Full-year AOI to free cash flow—adjusted conversion expected to exceed last year
• Year-to-date capital expenditures total $722 million, on track for full-year spend of nearly $1.1 billion:
• $800 million directed toward expanding and improving venues, giving artists more places to perform and fans better live experiences
• Approximately $200 million from funding by joint-venture partners, sponsorship agreements, and other sources reduce venue cash requirements
• Remainder to focus on ticketing and sponsorship growth initiatives, as well as ongoing maintenance requirements

BALANCE SHEET WELL-POSITIONED FOR CONTINUED VENUE INVESTMENT

• October refinancing extended maturities to 2031, providing additional financial flexibility to fund venue expansion at an attractive cost of capital, while euro-denominated debt aligns with our growing international business
• 80% of our debt is fixed-rate with a weighted average cost of debt of 4.3%

OTHER FINANCIAL STATEMENT DETAILS (vs. 2025)

• Depreciation and amortization expected to grow 12–15%
• Net interest expense is expected to be approximately $280 million
• Corporate / Other and Eliminations expense expected to increase in line with AOI growth
• Income tax expense is expected to be 15–20% of AOI
• Since mid-year, full-year foreign exchange benefit reduced by approximately $20 million
• Below-the-line items (full year):
• Noncontrolling interest expense is expected to be approximately $325 million. This projection may be further impacted by mark-to-market revaluations of investments and will have no impact to earnings per share, as any impact will be offset in other income and expenses
• Accretion expense is projected to be one-third of last year’s, with continued strong performance at OCESA and other partners
• 2026 share count not expected to change materially from 2025

Compare Our Operating Results to Past Quarters In The Trended Results Grid:

https://investors.livenationentertainment.com/financial-information/financial-results

The company will webcast a teleconference today, November 5, 2026, at 2:00 p.m. Pacific Time to discuss its financial performance, operational matters and potentially other material developments. Interested parties should visit the “News / Events” section of the company’s website at investors.livenationentertainment.com to listen to the webcast. Supplemental statistical and financial information to be provided on the call, if any, will be posted to the “Financial Info” section of the website. A replay of the webcast will also be available on the Live Nation website. The link to the 3Q26 Trended Results Grid is provided above for convenience and such grid is not a part of, or incorporated into, this press release or any SEC filings that include this press release.

Notice Regarding Financial Statements

The company has provided certain financial statements at the end of this press release for reference. These financial statements should be read in conjunction with the full financial statements, and the notes thereto, set forth in the company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2026 to be filed with the Securities and Exchange Commission today and available on the SEC’s website at sec.gov.

About Live Nation Entertainment:

Live Nation Entertainment (NYSE: LYV) helps artists grow their careers through live music, promoting shows that connect them with fans around the world. Since 2005, we've connected artists with more than 1.5 billion fans across 55 countries. A live concert is more than a show — it's a moment fans wait all year for, travel for, and remember for a lifetime. Live Nation exists to make more of those moments possible, helping artists grow their careers and bringing more live music to more fans, everywhere. For more information, visit investors.livenationentertainment.com.

FINANCIAL HIGHLIGHTS – THIRD QUARTER

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* Percentages are not meaningful

FINANCIAL HIGHLIGHTS – NINE MONTHS

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* Percentages are not meaningful

Reconciliation of Operating Income to Adjusted Operating Income

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Reconciliations of Certain Non-GAAP Measures to Their Most Directly Comparable GAAP Measures

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Reconciliation of Free Cash Flow — Adjusted to Net Cash Provided by Operating Activities

Reconciliation of Free Cash Flow — Adjusted to Net Cash Provided by Operating Activities

Reconciliation of Free Cash to Cash and Cash Equivalents

Forward-Looking Statements, Non-GAAP Financial Measures and Reconciliations:

Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to statements regarding anticipated Concerts fan attendance in 2026; the company’s being on track to deliver another record year in 2026 and sustain double-digit growth for years to come; expected adjusted operating income growth in the company’s Concerts business for 2026; expectations for Venue Nation’s fan count for 2026 and the anticipated contribution to this growth from arenas outside the U.S.; anticipated openings/acquisitions of large venues by the end of 2026, as well as the fan contribution and run-rates from these venues; anticipated adjusted operating income growth in the company’s Sponsorship business for 2026; expected adjusted operating income growth in the company’s Ticketmaster business for 2026; expectations for full-year adjusted operating income to free cash flow—adjusted conversion rates; the company’s anticipated capital expenditures in 2026, including the planned allocation and source of these funds; the positioning of the company’s balance sheet for continued venue investment; the company’s full-year 2026 expectations for depreciation and amortization, net interest expense, Corporate / Other and Eliminations expense, income tax expense, foreign exchange impacts, noncontrolling interest expense, accretion expense, and share count.

Live Nation wishes to caution you that there are some known and unknown factors that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements, including but not limited to operational challenges in achieving strategic objectives and executing on the company's plans, the risk that the company's markets do not evolve as anticipated, the potential impact of any economic slowdown and operational challenges associated with selling tickets and staging events.

Live Nation refers you to the documents it files from time to time with the U.S. Securities and Exchange Commission, or SEC, specifically the section titled “Item 1A. Risk Factors” of the company’s most recent Annual Report filed on Form 10-K, and Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K, which contain and identify other important factors that could cause actual results to differ materially from those contained in the company’s projections or forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date on which they are made. All subsequent written and oral forward-looking statements by or concerning Live Nation are expressly qualified in their entirety by the cautionary statements above. Live Nation does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise.

This press release contains certain non-GAAP financial measures as defined by SEC Regulation G. A reconciliation of each such measure to its most directly comparable GAAP financial measure, together with an explanation of why management believes that these non-GAAP financial measures provide useful information to investors, is provided herein.

Adjusted Operating Income (Loss), or AOI, is a non-GAAP financial measure that we define as operating income (loss) before certain acquisition expenses (including ongoing legal costs stemming from the Ticketmaster merger, changes in the fair value of accrued acquisition-related contingent consideration obligations, and acquisition-related severance and compensation), amortization of non-recoupable ticketing contract advances, depreciation and amortization (including goodwill impairment), loss (gain) on disposal of operating assets, and stock-based compensation expense. Due to the significant and non-recurring nature of the matters, we also exclude from AOI the impact of realized liabilities for settlements and expenses for regulatory compliance matters associated with the provision for losses arising from certain significant governmental investigations and litigations under ASC 450 - Contingencies, which are described under the heading “Governmental Investigations and Litigation” in Note 6 of the Notes to the Consolidated Financial Statements in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2026. Except as described above, ongoing legal costs associated with defense of these claims, such as attorney fees, are not excluded from AOI. We use AOI to evaluate the performance of our operating segments. We believe that information about AOI assists investors by allowing them to evaluate changes in the operating results of our portfolio of businesses separate from non-operational factors that affect net income (loss), thus providing insights into both operations and the other factors that affect reported results. AOI is not calculated or presented in accordance with GAAP. A limitation of the use of AOI as a performance measure is that it does not reflect the periodic costs of certain amortizing assets used in generating revenue in our business. Accordingly, AOI should be considered in addition to, and not as a substitute for, operating income (loss), net income (loss), and other measures of financial performance reported in accordance with GAAP. Furthermore, this measure may vary among other companies; thus, AOI as presented herein may not be comparable to similarly titled measures of other companies.

AOI margin is a non-GAAP financial measure that we calculate by dividing AOI by revenue. We use AOI margin to evaluate the performance of our operating segments. We believe that information about AOI margin assists investors by allowing them to evaluate changes in the operating results of our portfolio of businesses separate from non-operational factors that affect net income (loss), thus providing insights into both operations and the other factors that affect reported results. AOI margin is not calculated or presented in accordance with GAAP. A limitation of the use of AOI margin as a performance measure is that it does not reflect the periodic costs of certain amortizing assets used in generating revenue in our business. Accordingly, AOI margin should be considered in addition to, and not as a substitute for, operating income (loss) margin, and other measures of financial performance reported in accordance with GAAP. Furthermore, this measure may vary among other companies; thus, AOI margin as presented herein may not be comparable to similarly titled measures of other companies.

Constant Currency is a non-GAAP financial measure when applied to a GAAP financial measure. We calculate currency impacts as the difference between current period activity translated using the current period’s currency exchange rates and the comparable prior period’s currency exchange rates. We present constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations.

Free Cash Flow — Adjusted, or FCF, is a non-GAAP financial measure that we define as net cash provided by (used in) operating activities less changes in operating assets and liabilities, less maintenance capital expenditures, less distributions to noncontrolling interest partners. We use FCF among other measures, to evaluate the ability of operations to generate cash that is available for purposes other than maintenance capital expenditures. We believe that information about FCF provides investors with an important

perspective on the cash available to service debt, make acquisitions, and for revenue generating capital expenditures. FCF is not calculated or presented in accordance with GAAP. A limitation of the use of FCF as a performance measure is that it does not necessarily represent funds available for operations and is not necessarily a measure of our ability to fund our cash needs. Accordingly, FCF should be considered in addition to, and not as a substitute for, net cash provided by (used in) operating activities and other measures of financial performance reported in accordance with GAAP. Furthermore, this measure may vary among other companies; thus, FCF as presented herein may not be comparable to similarly titled measures of other companies.

Free Cash is a non-GAAP financial measure that we define as cash and cash equivalents less ticketing-related client funds, less event-related deferred revenue, less accrued expenses due to artists and cash collected on behalf of others, plus event-related prepaids. We use free cash as a proxy for how much cash we have available to, among other things, optionally repay debt balances, make acquisitions and fund revenue generating capital expenditures. Free cash is not calculated or presented in accordance with GAAP. A limitation of the use of free cash as a performance measure is that it does not necessarily represent funds available from operations and it is not necessarily a measure of our ability to fund our cash needs. Accordingly, free cash should be considered in addition to, and not as a substitute for, cash and cash equivalents and other measures of financial performance reported in accordance with GAAP. Furthermore, this measure may vary among other companies; thus, free cash as presented herein may not be comparable to similarly titled measures of other companies.

LIVE NATION ENTERTAINMENT, INC.

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF CASH FLOWS

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