Skip to Content

Live Nation Entertainment Inc LYV

Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
Is it the right time to buy or sell?
Find out with Morningstar Premium
Is it the right time to buy or sell?
Find out with Morningstar Premium

1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Live Nation’s 2020 Eviscerated by Lockdowns; Flywheel Should Restart by Mid-2021

Neil Macker, CFA Senior Equity Analyst

Analyst Note

| Neil Macker, CFA |

Fourth quarter results at Live Nation were once again predictably down severely as revenue collapsed 92% due to the ongoing lockdown restrictions in almost all the firm’s major markets. With the beginning of widespread vaccinations, management remains focused on summer 2021 as the timeline for a “return to scale” for concerts and festivals. The company is not interested in holding concerts with severe capacity constraints such as the current 10% limit in New York City. Rather, Live Nation is waiting for limits that allow at 50% capacity or more. We maintain our narrow moat and plan to raise of $50 FVE when we update our model.

Read Full Analysis

Company Profile

Business Description

Live Nation is the largest live entertainment firm in the world with over 570 million fans served in 44 countries in 2018 by the company's concert and ticketing platforms. Via either owning, operating, or holding exclusive booking rights, Live Nation controls over 235 venues including the House of Blues, the Hollywood Palladium, and Spark Arena in New Zealand. Live Nation also owns one of the largest ticketing services, Ticketmaster, which sold over 480 million tickets for over 12,000 clients in 2018. The firm's artist management agencies have over 400 clients. This large live entertainment footprint helped Live Nation become one of the largest advertising and sponsorship platforms aimed at music fans. Liberty Media owns 33% of Live Nation, held under its SiriusXM tracking stock.

Contact
9348 Civic Center Drive
Beverly Hills, CA, 90210
T +1 310 867-7000
Sector Communication Services
Industry Entertainment
Most Recent Earnings Dec 31, 2020
Fiscal Year End Dec 31, 2020
Stock Type Aggressive Growth
Employees 8,200