Cover and table of contents

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Cover and table of contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


Form 10-Q


☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2026

or

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number 001-32601


LIVE NATION ENTERTAINMENT, INC.

(Exact name of registrant as specified in its charter)


Delaware20-3247759
(State of Incorporation)(I.R.S. Employer Identification No.)

9348 Civic Center Drive

Beverly Hills, CA 90210

(Address of principal executive offices, including zip code)

(310) 867-7000

(Registrant’s telephone number, including area code)


Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common stock, $.01 Par Value Per ShareLYVNew York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes x No ¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes x No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large Accelerated FilerxAccelerated Filer¨Non-accelerated Filer¨Smaller Reporting Company¨Emerging Growth Company¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No x

On July 23, 2026, there were 235,633,860 outstanding shares of the registrant’s common stock, $0.01 par value per share, including 2,674,355 shares of unvested restricted stock awards and excluding 574,131 shares held in treasury.

LIVE NATION ENTERTAINMENT, INC.

INDEX TO FORM 10-Q

Page
PART I—FINANCIAL INFORMATION
Item 1.Financial Statements2
Consolidated Balance Sheets as of June 30, 2026 (Unaudited) and December 31, 20252
Consolidated Statements of Operations (Unaudited) for the three and six months ended June 30, 2026 and 20253
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) for the three and six months ended June 30, 2026 and 20254
Consolidated Statements of Changes in Equity (Unaudited) for the three and six months ended June 30, 2026 and 20255
Consolidated Statements of Cash Flows (Unaudited) for the six months ended June 30, 2026 and 20259
Notes to Consolidated Financial Statements (Unaudited)10
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations23
Item 3.Quantitative and Qualitative Disclosures About Market Risk40
Item 4.Controls and Procedures40
PART II—OTHER INFORMATION
Item 1.Legal Proceedings41
Item 1A.Risk Factors41
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds41
Item 3.Defaults Upon Senior Securities41
Item 5.Other Information41
Item 6.Exhibits42
GLOSSARY OF KEY TERMS
AOCIAccumulated other comprehensive income (loss)
AOIAdjusted operating income (loss)
ASCAccounting Standards Codification
CompanyLive Nation Entertainment, Inc. and subsidiaries
FASBFinancial Accounting Standards Board
GAAPUnited States Generally Accepted Accounting Principles
GTVGross transaction value
Live NationLive Nation Entertainment, Inc. and subsidiaries
SECUnited States Securities and Exchange Commission
SOFRSecured Overnight Financing Rate
TicketmasterThe ticketing business of the Company
VIEVariable interest entity (as defined under GAAP)

PART I—FINANCIAL INFORMATION

Next: Item 1. Financial Statements