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Sankey diagram of Live Nation Entertainment, Inc.. A complete text table follows the diagram.
The show itself generated 73% of core-segment revenue, but Ticketing and Sponsorship supplied nearly all of the quarter's segment profit.
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This Sankey uses reported segment revenue and adjusted operating income to show Live Nation's audience-and-monetization model. Segment costs are arithmetic differences between reported revenue and adjusted operating income; the flow excludes the negative $6.106 million revenue elimination. Adjusted operating income is a non-GAAP measure defined and reconciled in the filing.
Labels and narrative explain the filing. A category marked “arithmetic bridge” or “residual” is calculated from reported totals, rather than a separately reported line.
| Category | Stage | Value | Notes |
|---|---|---|---|
| Concerts | 1 | $2.8B | 23.8M fans across 11,396 events |
| Ticketing | 1 | $765M | 157.5M tickets processed |
| Sponsorship & advertising | 1 | $259M | Brands pay to reach the audience |
| Concerts AOI | 2 | $2.9M | 0.1% segment margin |
| Artists, venues & show costs | 2 | $2.8B | The high-volume audience engine |
| Ticketing AOI | 2 | $256M | 33.4% segment margin |
| Ticketing operations | 2 | $509M | Platforms, fulfillment & support |
| Sponsorship AOI | 2 | $165M | 63.6% segment margin |
| Sponsorship delivery | 2 | $94M | Activation and selling costs |
| Core segment AOI | 3 | $423M | Ticketing + sponsors supplied 99% |
| Consolidated AOI | 4 | $371M | Reported non-GAAP measure |
| Corporate & eliminations | 4 | $52.1M | Corporate expense plus other items |
| From | To | Value |
|---|---|---|
| Concerts | Concerts AOI | $2.9M |
| Concerts | Artists, venues & show costs | $2.8B |
| Ticketing | Ticketing AOI | $256M |
| Ticketing | Ticketing operations | $509M |
| Sponsorship & advertising | Sponsorship AOI | $165M |
| Sponsorship & advertising | Sponsorship delivery | $94M |
| Concerts AOI | Core segment AOI | $2.9M |
| Ticketing AOI | Core segment AOI | $256M |
| Sponsorship AOI | Core segment AOI | $165M |
| Core segment AOI | Consolidated AOI | $371M |
| Core segment AOI | Corporate & eliminations | $52.1M |