Live Nation Entertainment (LYV) 10-Q4 May 232023 Q1 Quarterly reportFinancial data

Company Profile

DOCUMENT

DOCUMENT - shares	3 Months Ended
DOCUMENT - shares	Mar. 31, 2023	Apr. 27, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-32601
Entity Registrant Name	LIVE NATION ENTERTAINMENT, INC.
Entity Central Index Key	0001335258
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-3247759
Entity Address, Address Line One	9348 Civic Center Drive
Entity Address, City or Town	Beverly Hills
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90210
City Area Code	310
Local Phone Number	867-7000
Title of 12(b) Security	Common stock, $.01 Par Value Per Share
Trading Symbol	LYV
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		229,891,197

CONSOLIDATED BALANCE SHEETS (UN

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 6,991,987	$ 5,606,457
Accounts receivable, less allowance of $62,224 and $63,294, respectively	1,657,210	1,465,383
Prepaid expenses	1,323,199	949,826
Restricted cash	5,465	5,917
Other current assets	119,260	131,939
Total current assets	10,097,121	8,159,522
Property, plant and equipment, net	1,887,070	1,487,663
Operating lease assets	1,580,919	1,571,395
Intangible assets
Definite-lived intangible assets, net	1,054,538	1,050,622
Indefinite-lived intangible assets, net	368,771	368,712
Goodwill	2,577,317	2,529,380
Long-term advances	594,556	568,558
Other long-term assets	709,299	724,989
Total assets	18,869,591	16,460,841
Current liabilities
Accounts payable, client accounts	1,815,911	1,791,025
Accounts payable	172,649	180,076
Accrued expenses	2,002,429	2,368,434
Deferred revenue	5,103,432	3,134,800
Current portion of long-term debt, net	63,870	620,032
Current portion of operating lease liabilities	142,951	140,232
Other current liabilities	72,845	68,716
Total current liabilities	9,374,087	8,303,315
Long-term debt, net	6,547,911	5,283,467
Long-term operating lease liabilities	1,646,624	1,654,525
Other long-term liabilities	511,473	455,971
Commitments and contingent liabilities
Redeemable noncontrolling interests	710,350	669,766
Stockholders' equity
Common stock	2,289	2,285
Additional paid-in capital	2,535,553	2,698,316
Accumulated deficit	(2,974,398)	(2,971,229)
Cost of shares held in treasury	(6,865)	(6,865)
Accumulated other comprehensive loss	(17,425)	(90,076)
Total Live Nation stockholders' equity	(460,846)	(367,569)
Noncontrolling interests	539,992	461,366
Total equity	79,146	93,797
Total liabilities and equity	$ 18,869,591	$ 16,460,841

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets
Allowance for doubtful accounts	$ 62,224	$ 63,294

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenue	$ 3,127,390	$ 1,802,808
Operating expenses:
Direct operating expenses	2,115,589	1,071,022
Selling, general and administrative expenses	690,321	570,182
Depreciation and amortization	115,185	100,469
Loss on disposal of operating assets	(504)	(1,665)
Corporate expenses	63,015	32,410
Operating income	142,776	27,060
Interest expense	89,215	66,773
Loss on extinguishment of debt	18,366	0
Interest income	(40,313)	(7,564)
Equity in earnings of nonconsolidated affiliates	(4,107)	(4,288)
Other expense, net	11,583	9,399
Income (loss) before income taxes	68,032	(37,260)
Income tax expense	23,840	11,696
Net income (loss)	44,192	(48,956)
Net income attributable to noncontrolling interests	47,361	1,226
Net loss attributable to common stockholders of Live Nation	$ (3,169)	$ (50,182)
Basic net loss per common share available to common stockholders of Live Nation	$ (0.25)	$ (0.39)
Diluted net loss per common share available to common stockholders of Live Nation	$ (0.25)	$ (0.39)
Weighted average common shares outstanding:
Weighted Average Number of Shares Outstanding, Basic	228,162,831	221,890,625
Reconciliation to net income (loss) available to common stockholders of Live Nation:
Net loss attributable to common stockholders of Live Nation	$ (3,169)	$ (50,182)
Accretion of redeemable noncontrolling interests	(54,933)	(35,714)
Net loss available to common stockholders of Live Nation—basic and diluted	$ (58,102)	$ (85,896)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 44,192	$ (48,956)
Other comprehensive income, net of tax:
Unrealized gain (loss) on cash flow hedge	(3,949)	23,969
Realized loss (gain) on cash flow hedge	(3,548)	1,902
Foreign currency translation adjustments	80,148	37,752
Comprehensive income	116,843	14,667
Comprehensive income attributable to noncontrolling interests	47,361	1,226
Comprehensive income attributable to common stockholders of Live Nation	$ 69,482	$ 13,441

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member] Cumulative Effect, Period of Adoption, Adjustment	Accumulated Deficit [Member]	Accumulated Deficit [Member] Cumulative Effect, Period of Adoption, Adjustment	Treasury Stock, Common	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interest [Member]	Redeemable Noncontrolling Interests [Member]
Equity [Roll Forward]
Cumulative effect of change in accounting principle		$ (35,464)			$ (95,986)		$ 60,522
Balances (in shares) at Dec. 31, 2021			221,964,734
Balances at Dec. 31, 2021	$ (188,454)		$ 2,220	$ 2,897,695		$ (3,327,737)		$ (6,865)	$ (147,964)	$ 394,197
Equity [Roll Forward]
Non-cash and stock-based compensation	161,590			161,590
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)			552,669
Common stock issued under stock plans, net of shares withheld for employee taxes	(36,568)		$ 5	(36,573)
Exercise of stock options, net of shares withheld for option cost and employee taxes (in shares)			1,013,898
Exercise of stock options	12,749		$ 10	12,739
Capped call transactions for 3.125% convertible senior notes due 2029	0
Acquisitions	399									399
Purchases of noncontrolling interests	(18,139)			(15,241)						(2,898)
Sales of noncontrolling interests	(336)			0						(336)
Redeemable noncontrolling interests fair value adjustments	(35,714)			(35,714)
Contributions received	6,212									6,212
Cash distributions	(31,808)									(31,808)
Other	1,824			41						1,783
Comprehensive income (loss):
Net income (loss)	(45,531)					(50,182)				4,651
Unrealized gain (loss) on cash flow hedge	23,969
Realized loss (gain) on cash flow hedge	1,902
Foreign currency translation adjustments	37,752
Balances at Mar. 31, 2022	(145,617)		$ 2,235	2,888,551		(3,317,397)		(6,865)	(84,341)	372,200
Balances (in shares) at Mar. 31, 2022			223,531,301
Balances at Dec. 31, 2021											$ 551,921
Redeemable Noncontrolling Interests [Roll Forward]
Acquisitions											5,654
Purchases of noncontrolling interests											0
Redeemable noncontrolling interests fair value adjustments											35,714
Contribution received											25
Cash distributions											(7,158)
Other											(1,079)
Comprehensive income (loss):
Net income (loss)											(3,425)
Balances at Mar. 31, 2022											581,652
Balances (in shares) at Dec. 31, 2022			228,498,102
Balances at Dec. 31, 2022	93,797		$ 2,285	2,698,316		(2,971,229)		(6,865)	(90,076)	461,366
Equity [Roll Forward]
Non-cash and stock-based compensation	27,571			27,571
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)			184,975
Common stock issued under stock plans, net of shares withheld for employee taxes	(7,949)		$ 1	(7,950)
Exercise of stock options, net of shares withheld for option cost and employee taxes (in shares)			19,962
Exercise of stock options	994		$ 1	993
Conversion of convertible debt (in shares)			156,750
Conversion of convertible debt	2
Repurchase of 2.5% convertible senior notes due 2023	(27,325)			(27,327)
Capped call transactions for 3.125% convertible senior notes due 2029	75,500			75,500
Acquisitions	58,466									58,466
Purchases of noncontrolling interests	(37,278)			(25,872)						(11,406)
Redeemable noncontrolling interests fair value adjustments	(54,678)			(54,678)
Contributions received	5,859									5,859
Cash distributions	(44,209)									(44,209)
Other	28,025			0						28,025
Comprehensive income (loss):
Net income (loss)	38,722					(3,169)				41,891
Unrealized gain (loss) on cash flow hedge	(3,949)								(3,949)
Realized loss (gain) on cash flow hedge	(3,548)								(3,548)
Foreign currency translation adjustments	80,148								80,148	0	0
Balances at Mar. 31, 2023	79,146		$ 2,289	$ 2,535,553		$ (2,974,398)		$ (6,865)	$ (17,425)	$ 539,992
Balances (in shares) at Mar. 31, 2023			228,859,789
Balances at Dec. 31, 2022	669,766										669,766
Redeemable Noncontrolling Interests [Roll Forward]
Acquisitions											12,308
Purchases of noncontrolling interests											0
Redeemable noncontrolling interests fair value adjustments											54,678
Contribution received											85
Cash distributions											(10,706)
Other											(21,251)
Comprehensive income (loss):
Net income (loss)											5,470
Balances at Mar. 31, 2023	$ 710,350										$ 710,350

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 44,192	$ (48,956)
Reconciling items:
Depreciation	57,710	50,760
Amortization	57,475	49,709
Amortization of non-recoupable ticketing contract advances	20,363	18,527
Amortization of debt issuance costs and discounts	4,630	4,114
Loss on extinguishment of debt	(18,366)	0
Stock-based compensation expense	27,571	49,241
Unrealized changes in fair value of contingent consideration	9,702	10,904
Equity in losses of nonconsolidated affiliates, net of distributions	7,793	2,090
Provision for uncollectible accounts receivable	6,054	(536)
Other, net	(307)	6,078
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:
Increase in accounts receivable	(163,603)	(152,725)
Increase in prepaid expenses and other assets	(369,494)	(338,017)
Increase (decrease) in accounts payable, accrued expenses and other liabilities	(460,749)	236,584
Increase in deferred revenue	1,896,145	1,310,527
Net cash provided by operating activities	1,155,848	1,198,300
CASH FLOWS FROM INVESTING ACTIVITIES
Advances of notes receivable	(33,579)	(18,399)
Collections of notes receivable	2,825	6,709
Investments made in nonconsolidated affiliates	(6,455)	(26,243)
Purchases of property, plant and equipment	(116,886)	(62,525)
Cash acquired from (paid for) acquisitions, net of cash paid (acquired)	96,382	(13,962)
Other, net	(2,076)	(533)
Net cash used in investing activities	(59,789)	(114,953)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from long-term debt, net of debt issuance costs	987,793	700
Payments on long-term debt	(604,584)	(12,784)
Contributions from noncontrolling interests	5,944	5,712
Distributions to noncontrolling interests	(54,915)	(38,966)
Purchases and sales of noncontrolling interests, net	(21,606)	(105)
Payments for capped call transactions	(75,500)	0
Proceeds from exercise of stock options	994	10,907
Taxes paid for net share settlement of equity awards	(7,949)	(36,568)
Payments for deferred and contingent consideration	(2,606)	(3,610)
Other, net	(1,870)	(327)
Net cash provided by (used in) financing activities	225,701	(75,041)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	63,318	(21,079)
Net increase in cash, cash equivalents, and restricted cash	1,385,078	987,227
Cash, cash equivalents, and restricted cash at beginning of period	5,612,374	4,887,792
Cash, cash equivalents, and restricted cash at end of period	$ 6,997,452	$ 5,875,019

BASIS OF PRESENTATION AND OTHER

BASIS OF PRESENTATION AND OTHER INFORMATION	3 Months Ended
BASIS OF PRESENTATION AND OTHER INFORMATION	Mar. 31, 2023
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND OTHER INFORMATION	Preparation of Interim Financial Statements The accompanying unaudited consolidated financial statements have been prepared in accordance with GAAP for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X issued by the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, they include all normal and recurring accruals and adjustments necessary to present fairly the results of the interim periods shown. The financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our 2022 Annual Report on Form 10-K filed with the SEC on February 23, 2023. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes including, but not limited to, legal, tax and insurance accruals, acquisition accounting and impairments. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from those estimates. Seasonality Our Concerts and Sponsorship & Advertising segments typically experience higher revenue and operating income in the second and third quarters as our outdoor venue concerts and festivals primarily occur from May through October in most major markets. Our Ticketing segment revenue is impacted by fluctuations in the availability and timing of events for sale to the public, which vary depending upon scheduling by our clients. Cash flows from our Concerts segment typically have a slightly different seasonality as partial payments are often made for artist performance fees and production costs for tours in advance of the date the related event tickets go on sale. These artist fees and production costs are expensed when the event occurs. Once tickets for an event go on sale, we generally begin to receive payments from ticket sales in advance of when the event occurs. In the United States, this cash is largely associated with events in our operated venues, notably amphitheaters, festivals, theaters and clubs. Internationally, this cash is from a combination of both events in our operated venues, as well as events in third-party venues associated with our promoter’s share of tickets in allocation markets. We record these ticket sales as revenue when the event occurs. Our seasonality also results in higher balances in cash and cash equivalents, accounts receivable, prepaid expenses, accrued expenses and deferred revenue at different times in the year. We expect our seasonality trends to evolve as we continue to expand our global operations. Variable Interest Entities In the normal course of business, we enter into joint ventures or make investments in companies that will allow us to expand our core business and enter new markets. In certain instances, such ventures or investments may be considered a VIE because the equity owners or the equity holders, as a group, lack the characteristics of a controlling financial interest. In determining whether we are the primary beneficiary of a VIE, we assess whether we have the power to direct activities that most significantly impact the economic performance of the entity and have the obligation to absorb losses or the right to receive benefits from the entity that could potentially be significant to the VIE. The activities we believe most significantly impact the economic performance of our VIEs include the unilateral ability to approve the annual budget, to terminate key management and to approve entering into agreements with artists, among others. We have certain rights and obligations related to our involvement in the VIEs, including the requirement to provide operational cash flow funding. As of March 31, 2023 and December 31, 2022, excluding intercompany balances and allocated goodwill and intangible assets, there were approximately $938 million and $514 million of assets and $791 million and $427 million of liabilities, respectively, related to VIEs included in our balance sheets. None of our VIEs are significant on an individual basis. Cash and Cash Equivalents Included in the March 31, 2023 and December 31, 2022 cash and cash equivalents balance is $1.4 billion and $1.5 billion, respectively, of cash received that includes the face value of tickets sold on behalf of our ticketing clients and their share of service charges (“client cash”), which amounts are to be remitted to these clients. We generally do not utilize client cash for our own financing or investing activities as the amounts are payable to our clients on a regular basis. These amounts due to our clients are included in accounts payable, client accounts. Income Taxes Each reporting period, we evaluate the realizability of our deferred tax assets in each tax jurisdiction. As of March 31, 2023, we continued to maintain a full valuation allowance against our net deferred tax assets in certain jurisdictions due to cumulative pre-tax losses. As a result of the valuation allowances, no tax benefits have been recognized for losses incurred, if any, in those tax jurisdictions for the first three months of 2023. In August 2022, the Inflation Reduction Act (IRA) was enacted in the United States, which includes health care, clean energy, and income tax provisions. The income tax provisions amend the Internal Revenue Code to include amongst other things a corporate alternative minimum tax starting in the 2023 tax year. The Company is still assessing the impact due to lack of United States Treasury regulations; however, the IRA is not expected to have a material impact on the Company's financial statements due to net operating losses and full valuation allowances for the United States, which is our most significant jurisdiction. We will continue to monitor to ensure our financial results and related tax disclosures are in compliance with the IRA tax legislation. Accounting Pronouncements - Adopted In October 2021, the FASB issued Accounting Standards Update (ASU) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers. This ASU should be applied prospectively to acquisitions occurring on or after the effective date of December 15, 2022, and early adoption is permitted. We adopted this guidance on January 1, 2023. The adoption did not have a material impact on our consolidated financial statements.

LONG-LIVED ASSETS

LONG-LIVED ASSETS	3 Months Ended
LONG-LIVED ASSETS	Mar. 31, 2023
LONG-LIVED ASSETS [Abstract]
LONG-LIVED ASSETS	Property, Plant and Equipment, Net Property, plant and equipment, net, consisted of the following: March 31, 2023 December 31, 2022 (in thousands) Land, buildings and improvements $ 1,971,186 $ 1,648,488 Computer equipment and capitalized software 861,009 910,793 Furniture and other equipment 558,433 535,719 Construction in progress 223,775 244,618 3,614,403 3,339,618 Less: accumulated depreciation 1,727,333 1,851,955 $ 1,887,070 $ 1,487,663 Definite-lived Intangible Assets The following table presents the changes in the gross carrying amount and accumulated amortization of definite-lived intangible assets for the three months ended March 31, 2023: Client / Revenue- Venue management and leaseholds Trademarks Technology and Other (1) Total (in thousands) Balance as of December 31, 2022: Gross carrying amount 563,210 $ 824,785 $ 148,022 $ 188,596 $ 35,736 $ 1,760,349 Accumulated amortization (209,518) (316,581) (58,588) (97,931) (27,109) (709,727) Net 353,692 508,204 89,434 90,665 8,627 1,050,622 Gross carrying amount: Acquisitions—current year 2,649 — 20,929 — — 23,578 Acquisitions—prior year 119 (2,232) (11) — — (2,124) Foreign exchange 8,597 28,868 1,621 4,003 86 43,175 Other (2) (5,326) (22,462) — (13,583) (16,580) (57,951) Net change 6,039 4,174 22,539 (9,580) (16,494) 6,678 Accumulated amortization: Amortization (18,910) (26,175) (4,029) (4,765) (3,596) (57,475) Dispositions — — — — 464 464 Foreign exchange (1,396) (1,861) (372) (479) (219) (4,327) Other (2) 5,327 22,462 58 13,587 17,142 58,576 Net change (14,979) (5,574) (4,343) 8,343 13,791 (2,762) Balance as of March 31, 2023: Gross carrying amount 569,249 828,959 170,561 179,016 19,242 1,767,027 Accumulated amortization (224,497) (322,155) (62,931) (89,588) (13,318) (712,489) Net $ 344,752 $ 506,804 $ 107,630 $ 89,428 $ 5,924 $ 1,054,538 (1) Other primarily includes intangible assets for non-compete agreements. (2) Other primarily includes netdowns of fully amortized or impaired assets. Included in the current year acquisitions amounts above are definite-lived intangible assets primarily associated with the acquisitions of certain venue management businesses located in the United States. The 2023 additions to definite-lived intangible assets from acquisitions have weighted-average lives as follows: Weighted- Client/vendor relationships 3 Venue management and leaseholds 9 All categories 8 Amortization of definite-lived intangible assets for the three months ended March 31, 2023 and 2022 was $57.5 million and $49.7 million, respectively. As acquisitions and dispositions occur in the future and the valuations of intangible assets for recent acquisitions are completed, amortization will vary. The following table presents our estimate of amortization expense for the remainder of the current year and the four succeeding fiscal years for definite-lived intangible assets that exist at March 31, 2023: (in thousands) Remainder of 2023 $ 155,399 2024 $ 190,765 2025 $ 159,011 2026 $ 132,081 2027 $ 106,473 Goodwill The following table presents the changes in the carrying amount of goodwill in each of our reportable segments for the three months ended March 31, 2023: Concerts Ticketing Sponsorship Total (in thousands) Balance as of December 31, 2022: Goodwill $ 1,349,426 $ 979,742 $ 635,575 $ 2,964,743 Accumulated impairment losses (435,363) — — (435,363) Net 914,063 979,742 635,575 2,529,380 Acquisitions—current year 11,204 — — 11,204 Acquisitions—prior year 114 (106) — 8 Foreign exchange 6,263 16,716 13,746 36,725 Balance as of March 31, 2023: Goodwill 1,367,007 996,352 649,321 3,012,680 Accumulated impairment losses (435,363) — — (435,363) Net $ 931,644 $ 996,352 $ 649,321 $ 2,577,317 We are in various stages of finalizing our acquisition accounting for recent acquisitions, which may include the use of external valuation consultants, and the completion of this accounting could result in a change to the associated purchase price allocations, including goodwill and our allocation between segments. Investments in Nonconsolidated Affiliates At March 31, 2023 and December 31, 2022, we had investments in nonconsolidated affiliates of $361.5 million and $408.8 million, respectively, included in other long-term assets on our consolidated balance sheets.

LEASES

LEASES	3 Months Ended
LEASES	Mar. 31, 2023
Leases [Abstract]
LEASES	The significant components of operating lease expense are as follows: Three Months Ended 2023 2022 (in thousands) Operating lease expense $ 65,329 $ 63,761 Variable and short-term lease expense 31,342 18,032 Sublease income (2,188) (970) Net lease expense $ 94,483 $ 80,823 Many of our leases contain contingent rent obligations based on revenue, tickets sold or other variables, while others include periodic adjustments to rent obligations based on the prevailing inflationary index or market rental rates. Contingent rent obligations are not included in the initial measurement of the lease asset or liability and are recorded as rent expense in the period that the contingency is resolved. Supplemental cash flow information for our operating leases is as follows: Three Months Ended 2023 2022 (in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 73,489 $ 66,232 Lease assets obtained in exchange for lease obligations, net of terminations $ 43,636 $ 157,244 As of March 31, 2023, we have additional operating leases that have not yet commenced, with total lease payments of $174.5 million. These operating leases, which are not included on our consolidated balance sheets, have commencement dates ranging from April 2023 to June 2030 due to certain offices and venues under construction with lease terms ranging from 2 to 30 years.

LONG-TERM DEBT

LONG-TERM DEBT	3 Months Ended
LONG-TERM DEBT	Mar. 31, 2023
Debt Disclosure [Abstract]
LONG-TERM DEBT	Long-term debt, which includes finance leases, consisted of the following: March 31, 2023 December 31, 2022 (in thousands) Senior Secured Credit Facility: Term loan A $ 377,500 $ 382,500 Term loan B 843,459 845,644 6.5% Senior Secured Notes due 2027 1,200,000 1,200,000 3.75% Senior Secured Notes due 2028 500,000 500,000 4.875% Senior Notes due 2024 575,000 575,000 5.625% Senior Notes due 2026 300,000 300,000 4.75% Senior Notes due 2027 950,000 950,000 2.5% Convertible Senior Notes due 2023 — 550,000 2.0% Convertible Senior Notes due 2025 400,000 400,000 3.125% Convertible Senior Notes due 2029 1,000,000 — Other long-term debt 528,932 252,199 Total principal amount 6,674,891 5,955,343 Less: unamortized discounts and debt issuance costs (63,110) (51,844) Total long-term debt, net of unamortized discounts and debt issuance costs 6,611,781 5,903,499 Less: current portion 63,870 620,032 Total long-term debt, net $ 6,547,911 $ 5,283,467 Future maturities of long-term debt at March 31, 2023 are as follows: (in thousands) Remainder of 2023 $ 55,837 2024 1,476,446 2025 51,803 2026 1,394,267 2027 2,155,327 Thereafter 1,541,211 Total $ 6,674,891 All long-term debt without a stated maturity date is considered current and is reflected as maturing in the earliest period shown in the table above. See Note 5 – Fair Value Measurements for discussion of the fair value measurement of our long-term debt. 3.125% Convertible Senior Notes due 2029 In January 2023, we issued $1.0 billion principal amount of 3.125% convertible senior notes due 2029. Interest on the 3.125% convertible senior notes due 2029 is payable semi-annually in arrears on January 15 and July 15, beginning July 15, 2023, at a rate of 3.125% per annum. The notes will mature on January 15, 2029. The notes will be convertible, under certain circumstances, until October 15, 2028, and on or after such date without condition, at an initial conversion rate of 9.2259 shares of our common stock per $1,000 principal amount of notes, subject to adjustment, which represents a 50% conversion premium based on the last reported sale price for our common stock of $72.26 on January 9, 2023 prior to issuing the debt. Upon conversion, the notes may be settled in, at our election, shares of common stock or cash or a combination of cash and shares of common stock. Assuming we fully settle the notes in shares, the maximum number of shares that could be issued to satisfy the conversion is 13.8 million as of March 31, 2023. We may redeem for cash all or any portion of the notes, at our option, on or after January 21, 2026 and before the 41st scheduled trading day before the maturity date, if the sales price of our common stock reaches specified targets as defined in the indenture. The redemption price will equal 100% of the principal amount of the notes plus accrued interest, if any. If we experience a fundamental change, as defined in the indenture governing the notes, the holders of the 3.125% convertible senior notes due 2029 may require us to purchase for cash all or a portion of their notes, subject to specified exceptions, at a price equal to 100% of the principal amount of the notes plus accrued and unpaid interest, if any. As of March 31, 2023, the remaining period for the unamortized debt issuance costs balance of $15.0 million was approximately six In connection with the issuance of the 3.125% convertible senior notes due 2029, we entered into privately negotiated capped call transactions with several counterparties. The cap price of the capped call transactions is initially $144.52, which represents a premium of 100% over the last reported sale price of the Company’s common stock on January 9, 2023. The cost of the capped call transactions was a $75.5 million impact to additional paid-in capital. Debt Extinguishment In conjunction with the issuance of the 3.125% convertible senior notes due 2029, we used approximately $485.8 million of the net proceeds to repurchase $440.0 million aggregate principal amount of the 2.5% convertible senior notes due 2023 resulting in a loss on debt repurchase of $18.4 million and a charge to additional paid-in capital for the induced conversion of $27.3 million. On March 15, 2023, we redeemed the remaining $110.0 million aggregate principal amount of the 2.5% convertible senior notes and issued 156,750 common shares of stock. Senior Secured Facility Amendment In February 2023, we amended our senior secured credit facility. The amendments provides for, among other things: (i) replacement of the benchmark reference rate of the Eurodollar Rate (as defined in the Credit Agreement) with the Term SOFR Rate for borrowings denominated in Dollars and for each Alternative Currency (as defined in the Credit Agreement), a corresponding reference rate, as set forth in the Amended Credit Agreement, (ii) deletion of the provisions regarding Canadian bankers’ acceptances, and (iii) the addition of the Company’s ability to draw letters of credit in Canadian Dollars. Other Long-term Debt As of March 31, 2023, other long-term debt includes $270.7 million for a note due in 2026 related to an acquisition of a venue management business during the first quarter of 2023 in the United States.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
FAIR VALUE MEASUREMENTS	Mar. 31, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	Recurring The following table shows the fair value of our significant financial assets that are required to be measured at fair value on a recurring basis, which are classified on the consolidated balance sheets as cash and cash equivalents. Estimated Fair Value March 31, 2023 December 31, 2022 Level 1 Level 2 Total Level 1 Level 2 Total (in thousands) Assets: Cash equivalents $ 794,275 $ — $ 794,275 $ 503,964 $ — $ 503,964 Interest rate swaps — 43,400 43,400 — 41,515 41,515 Cash equivalents consist of money market funds. Fair values for cash equivalents are based on quoted prices in an active market. The fair value for our interest rate swaps are based upon inputs corroborated by observable market data with similar tenors. Our outstanding debt held by third-party financial institutions is carried at cost, adjusted for any discounts or debt issuance costs. Our debt is not publicly traded and the carrying amounts typically approximate fair value for debt that accrues interest at a variable rate, which are considered to be Level 2 inputs as defined in the FASB guidance. The following table presents the estimated fair values of our senior secured notes, senior notes and convertible senior notes: Estimated Fair Value at March 31, 2023 December 31, 2022 Level 2 (in thousands) 6.5% Senior Secured Notes due 2027 $ 1,213,140 $ 1,175,460 3.75% Senior Secured Notes due 2028 $ 448,095 $ 429,035 4.875% Senior Notes due 2024 $ 563,903 $ 560,027 5.625% Senior Notes due 2026 $ 291,978 $ 285,315 4.75% Senior Notes due 2027 $ 880,698 $ 847,562 2.5% Convertible Senior Notes due 2023 $ — $ 588,473 2.0% Convertible Senior Notes due 2025 $ 391,052 $ 397,536 3.125% Convertible Senior Notes due 2029 $ 985,040 $ — The estimated fair value of our third-party fixed-rate debt is based on quoted market prices in active markets for the same or similar debt, which are considered to be Level 2 inputs.

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	3 Months Ended
COMMITMENTS AND CONTINGENT LIABILITIES	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES Litigation Consumer Class Actions The following putative class action lawsuits were filed against Live Nation and/or Ticketmaster in Canada: Thompson-Marcial and Smith v. Ticketmaster Canada Holdings ULC (Ontario Superior Court of Justice, filed September 2018); McPhee v. Live Nation Entertainment, Inc., et al. (Superior Court of Quebec, District of Montreal, filed September 2018); Crystal Watch v. Live Nation Entertainment, Inc., et al. (Court of Queen’s Bench for Saskatchewan, by amendments filed September 2018); and Gomel v. Live Nation Entertainment, Inc., et al. (Supreme Court of British Columbia, Vancouver Registry, filed October 2018). Similar putative class actions were filed in the United States during the same time period, but as of November 2020, each of the lawsuits filed in the United States has been dismissed with prejudice. The Canadian lawsuits make similar factual allegations that Live Nation and/or Ticketmaster engage in conduct that is intended to encourage the resale of tickets on secondary ticket exchanges at elevated prices. Based on these allegations, each plaintiff asserts violations of different provincial and federal laws. Each plaintiff also seeks to represent a class of individuals who purchased tickets on a secondary ticket exchange, as defined in each plaintiff’s complaint. The Watch complaint also makes claims related to Ticketmaster’s fee display practices on the primary market. The complaints seek a variety of remedies, including unspecified compensatory damages, punitive damages, restitution, injunctive relief and attorneys’ fees and costs. In April 2021, the court in the Gomel lawsuit declined to certify all claims other than those pled under British Columbia’s Business Practices and Consumer Protection Act and claims for punitive damages. The court did certify a class of British Columbia residents who purchased tickets to an event in Canada on any secondary market exchange from June 2015 through April 2021 that were initially purchased on Ticketmaster.ca. In May 2021, Ticketmaster and Live Nation filed a notice of appeal of the class certification ruling, and the plaintiff filed a cross-appeal shortly thereafter. The appeals were heard in early February 2023. The court in the Watch matter issued its class certification ruling in November 2022. The court declined to certify and dismissed all claims other than those pled under provincial consumer protection statutes relating to drip pricing and certified a class of consumers who purchased tickets between September 2015 and June 2018 from Ticketmaster.ca on the primary market. In December 2022, the parties filed cross-notices of appeal of the court’s ruling. A hearing on the parties’ motions for leave to appeal took place in March 2023. The class certification hearing in the Thompson-Marcial matter has not yet been scheduled. The McPhee matter is stayed pending the outcome of the Watch matter. Based on information presently known to management, we do not believe that a loss is probable of occurring at this time, and we believe that the potential liability, if any, will not have a material adverse effect on our financial position, cash flows or results of operations. Further, we do not currently believe that the claims asserted in these lawsuits have merit, and considerable uncertainty exists regarding any monetary damages that will be asserted against us. We continue to vigorously defend these actions. Astroworld Litigation On November 5, 2021, the Astroworld music festival was held in Houston, Texas. During the course of the festival, ten members of the audience sustained fatal injuries and others suffered non-fatal injuries. Following these events, approximately 450 civil lawsuits have been filed against Live Nation Entertainment, Inc. and related entities, asserting insufficient crowd control and other theories, seeking compensatory and punitive damages. Pursuant to a February 2022 order of the state Multidistrict Litigation Panel, matter 21-1033, the civil cases have been assigned to Judge Kristen Hawkins of the 11th District Court of Harris County, Texas, for oversight of pretrial matters under Texas’s rules governing multidistrict litigation. Discovery is underway. Confidential settlements were reached with the families of three of the deceased plaintiffs in August through December 2022. We are currently unable to reliably predict the developments in, outcome of, and economic costs and other consequences of pending or future litigation related to these matters. We will continue to investigate the factual and legal defenses, and evaluate these matters based on subsequent events, new information and future circumstances. We currently expect that liability insurance can provide sufficient coverage, but at this time there are no assurances of such coverage. Given that these cases are in the early stages and in light of the uncertainties surrounding them, we do not currently possess sufficient information to determine a range of reasonably possible liability. Notwithstanding the foregoing, and without admitting liability or wrongdoing, we may incur material liabilities from the 2021 Astroworld event, which could have a material impact on our business, financial condition, results of operations and/or cash flows. Other Litigation From time to time, we are involved in other legal proceedings arising in the ordinary course of our business, including proceedings and claims based upon purported violations of antitrust laws, intellectual property rights and tortious interference, which could cause us to incur significant expenses. We have also been the subject of personal injury and wrongful death claims relating to accidents at our venues in connection with our operations. As required, we have accrued our estimate of the probable settlement or other losses for the resolution of any outstanding claims. These estimates have been developed in consultation with counsel and are based upon an analysis of potential results, including, in some cases, estimated redemption rates for the settlement offered, assuming a combination of litigation and settlement strategies. It is possible, however, that future results of operations for any particular period could be materially affected by changes in our assumptions or the effectiveness of our strategies related to these proceedings.

EQUITY

EQUITY	3 Months Ended
EQUITY	Mar. 31, 2023
Equity [Abstract]
Equity	Accumulated Other Comprehensive Income (Loss) The following table presents changes in the components of AOCI, net of taxes, for the three months ended March 31, 2023: Cash Flow Hedge Foreign Currency Items Total (in thousands) Balance at December 31, 2022 $ 41,283 $ (131,359) $ (90,076) Other comprehensive income before reclassifications (3,949) 80,148 76,199 Amount reclassified from AOCI (3,548) — (3,548) Net other comprehensive income (7,497) 80,148 72,651 Balance at March 31, 2023 $ 33,786 $ (51,211) $ (17,425) Earnings Per Share Basic net income (loss) per common share is computed by dividing the net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. The calculation of diluted net income (loss) per common share includes the effects of the assumed exercise of any outstanding stock options, the assumed vesting of shares of restricted and deferred stock awards and the assumed conversion of our convertible senior notes, where dilutive. For the three months ended March 31, 2023 and 2022, there were no reconciling items to the weighted average common shares outstanding in the calculation of diluted net loss per common share. The following table shows securities excluded from the calculation of diluted net income (loss) per common share because such securities are anti-dilutive: Three Months Ended 2023 2022 Options to purchase shares of common stock 3,237,229 6,705,816 Restricted stock and deferred stock—unvested 3,593,402 3,805,686 Conversion shares related to the convertible senior notes 13,004,660 11,864,035 Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding 19,835,291 22,375,537

SEGMENTS AND REVENUE RECOGNITIO

SEGMENTS AND REVENUE RECOGNITION	3 Months Ended
SEGMENTS AND REVENUE RECOGNITION	Mar. 31, 2023
Segment Reporting [Abstract]
SEGMENTS AND REVENUE RECOGNITION	For the three months ended March 31, 2023 and 2022, our reportable segments are Concerts, Ticketing and Sponsorship & Advertising. We use AOI to evaluate the performance of our operating segments and define AOI as operating income (loss) before certain stock-based compensation expense, loss (gain) on disposal of operating assets, depreciation and amortization (including goodwill impairment), amortization of non-recoupable ticketing contract advances and acquisition expenses (including transaction costs, changes in the fair value of accrued acquisition-related contingent consideration obligations, and acquisition-related severance and compensation) . 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. 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 and related depreciation and amortization have not been presented. The following table presents the results of operations for our reportable segments for the three months ended March 31, 2023 and 2022: Concerts Ticketing Sponsorship Other & Eliminations Corporate Consolidated (in thousands) Three Months Ended March 31, 2023 Revenue $ 2,281,212 $ 677,741 $ 170,118 $ (1,681) $ — $ 3,127,390 % of Consolidated Revenue 72.9% 21.7% 5.4% —% Intersegment revenue $ 898 $ 783 $ — $ (1,681) $ — $ — AOI $ 832 $ 271,051 $ 95,531 $ (7,939) $ (39,765) $ 319,710 Three Months Ended March 31, 2022 Revenue $ 1,207,825 $ 480,399 $ 115,689 $ (1,105) $ — $ 1,802,808 % of Consolidated Revenue 67.0% 26.6% 6.4% —% Intersegment revenue $ 652 $ 1,266 $ — $ (1,918) $ — $ — AOI $ (49,166) $ 206,220 $ 69,700 $ (4,380) $ (13,335) $ 209,039 . The following table sets forth the reconciliation of consolidated AOI to operating income for the three months ended March 31, 2023 and 2022: Three Months Ended March 31, 2023 2022 (in thousands) AOI $ 319,710 $ 209,039 Acquisition expenses 13,311 12,077 Amortization of non-recoupable ticketing contract advances 20,363 18,527 Depreciation and amortization 115,185 100,469 Loss on disposal of operating assets 504 1,665 Stock-based compensation expense 27,571 49,241 Operating income $ 142,776 $ 27,060 Contract Advances At March 31, 2023 and December 31, 2022, we had ticketing contract advances of $87.8 million and $106.5 million, respectively, recorded in prepaid expenses and $106.2 million and $105.0 million, respectively, recorded in long-term advances on the consolidated balance sheets. We amortized $20.4 million and $18.5 million for the three months ended March 31, 2023 and 2022, respectively, related to non-recoupable ticketing contract advances. Sponsorship Agreements At March 31, 2023, we had contracted sponsorship agreements with terms greater than one year that had approximately $1.5 billion of revenue related to future benefits to be provided by us. We expect to recognize, based on current projections, approximately 30%, 26%, 19% and 25% of this revenue in the remainder of 2023, 2024, 2025 and thereafter, respectively. Deferred Revenue The majority of our deferred revenue is typically classified as current and is shown as a separate line item on the consolidated balance sheets. Deferred revenue that is not expected to be recognized within the next twelve months is classified as long-term and reflected in other long-term liabilities on the consolidated balance sheets. We had current deferred revenue of $3.1 billion and $2.8 billion at December 31, 2022 and 2021, respectively. The table below summarizes the amount of the preceding December 31 current deferred revenue recognized during the three months ended March 31, 2023 and 2022: Three Months Ended 2023 2022 (in thousands) Concerts $ 681,380 $ 278,546 Ticketing 34,600 23,043 Sponsorship & Advertising 50,680 34,239 $ 766,660 $ 335,828

BASIS OF PRESENTATION AND OTH_2

BASIS OF PRESENTATION AND OTHER INFORMATION (Basis of Presentation and Other Information) (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Cash and Cash Equivalents	Cash and Cash Equivalents Included in the March 31, 2023 and December 31, 2022 cash and cash equivalents balance is $1.4 billion and $1.5 billion, respectively, of cash received that includes the face value of tickets sold on behalf of our ticketing clients and their share of service charges (“client cash”), which amounts are to be remitted to these clients. We generally do not utilize client cash for our own financing or investing activities as the amounts are payable to our clients on a regular basis. These amounts due to our clients are included in accounts payable, client accounts.
Income Taxes	Income Taxes Each reporting period, we evaluate the realizability of our deferred tax assets in each tax jurisdiction. As of March 31, 2023, we continued to maintain a full valuation allowance against our net deferred tax assets in certain jurisdictions due to cumulative pre-tax losses. As a result of the valuation allowances, no tax benefits have been recognized for losses incurred, if any, in those tax jurisdictions for the first three months of 2023. In August 2022, the Inflation Reduction Act (IRA) was enacted in the United States, which includes health care, clean energy, and income tax provisions. The income tax provisions amend the Internal Revenue Code to include amongst other things a corporate alternative minimum tax starting in the 2023 tax year. The Company is still assessing the impact due to lack of United States Treasury regulations; however, the IRA is not expected to have a material impact on the Company's financial statements due to net operating losses and full valuation allowances for the United States, which is our most significant jurisdiction. We will continue to monitor to ensure our financial results and related tax disclosures are in compliance with the IRA tax legislation.
Consolidation, Variable Interest Entity, Policy	Variable Interest Entities In the normal course of business, we enter into joint ventures or make investments in companies that will allow us to expand our core business and enter new markets. In certain instances, such ventures or investments may be considered a VIE because the equity owners or the equity holders, as a group, lack the characteristics of a controlling financial interest. In determining whether we are the primary beneficiary of a VIE, we assess whether we have the power to direct activities that most significantly impact the economic performance of the entity and have the obligation to absorb losses or the right to receive benefits from the entity that could potentially be significant to the VIE. The activities we believe most significantly impact the economic performance of our VIEs include the unilateral ability to approve the annual budget, to terminate key management and to approve entering into agreements with artists, among others. We have certain rights and obligations related to our involvement in the VIEs, including the requirement to provide operational cash flow funding. As of March 31, 2023 and December 31, 2022, excluding intercompany balances and allocated goodwill and intangible assets, there were approximately $938 million and $514 million of assets and $791 million and $427 million of liabilities, respectively, related to VIEs included in our balance sheets. None of our VIEs are significant on an individual basis.

LONG-LIVED ASSETS (Long-Lived A

LONG-LIVED ASSETS (Long-Lived Assets) (Tables)	3 Months Ended
LONG-LIVED ASSETS (Long-Lived Assets) (Tables)	Mar. 31, 2023
LONG-LIVED ASSETS [Abstract]
Property, Plant and Equipment	Property, plant and equipment, net, consisted of the following: March 31, 2023 December 31, 2022 (in thousands) Land, buildings and improvements $ 1,971,186 $ 1,648,488 Computer equipment and capitalized software 861,009 910,793 Furniture and other equipment 558,433 535,719 Construction in progress 223,775 244,618 3,614,403 3,339,618 Less: accumulated depreciation 1,727,333 1,851,955 $ 1,887,070 $ 1,487,663
Gross Carrying Amount and Accumulated Amortization of Definite-Lived Intangible Assets	The following table presents the changes in the gross carrying amount and accumulated amortization of definite-lived intangible assets for the three months ended March 31, 2023: Client / Revenue- Venue management and leaseholds Trademarks Technology and Other (1) Total (in thousands) Balance as of December 31, 2022: Gross carrying amount 563,210 $ 824,785 $ 148,022 $ 188,596 $ 35,736 $ 1,760,349 Accumulated amortization (209,518) (316,581) (58,588) (97,931) (27,109) (709,727) Net 353,692 508,204 89,434 90,665 8,627 1,050,622 Gross carrying amount: Acquisitions—current year 2,649 — 20,929 — — 23,578 Acquisitions—prior year 119 (2,232) (11) — — (2,124) Foreign exchange 8,597 28,868 1,621 4,003 86 43,175 Other (2) (5,326) (22,462) — (13,583) (16,580) (57,951) Net change 6,039 4,174 22,539 (9,580) (16,494) 6,678 Accumulated amortization: Amortization (18,910) (26,175) (4,029) (4,765) (3,596) (57,475) Dispositions — — — — 464 464 Foreign exchange (1,396) (1,861) (372) (479) (219) (4,327) Other (2) 5,327 22,462 58 13,587 17,142 58,576 Net change (14,979) (5,574) (4,343) 8,343 13,791 (2,762) Balance as of March 31, 2023: Gross carrying amount 569,249 828,959 170,561 179,016 19,242 1,767,027 Accumulated amortization (224,497) (322,155) (62,931) (89,588) (13,318) (712,489) Net $ 344,752 $ 506,804 $ 107,630 $ 89,428 $ 5,924 $ 1,054,538 (1) Other primarily includes intangible assets for non-compete agreements. (2) Other primarily includes netdowns of fully amortized or impaired assets.	[1],[2]
Weighted Average Lives of Additions to Definite-Lived Intangible Assets	The 2023 additions to definite-lived intangible assets from acquisitions have weighted-average lives as follows: Weighted- Client/vendor relationships 3 Venue management and leaseholds 9 All categories 8
Estimate of Amortization Expense for Each of the Five Succeeding Fiscal Years for Definite-Lived Intangible Assets	The following table presents our estimate of amortization expense for the remainder of the current year and the four succeeding fiscal years for definite-lived intangible assets that exist at March 31, 2023: (in thousands) Remainder of 2023 $ 155,399 2024 $ 190,765 2025 $ 159,011 2026 $ 132,081 2027 $ 106,473
Changes in Goodwill by Segment	The following table presents the changes in the carrying amount of goodwill in each of our reportable segments for the three months ended March 31, 2023: Concerts Ticketing Sponsorship Total (in thousands) Balance as of December 31, 2022: Goodwill $ 1,349,426 $ 979,742 $ 635,575 $ 2,964,743 Accumulated impairment losses (435,363) — — (435,363) Net 914,063 979,742 635,575 2,529,380 Acquisitions—current year 11,204 — — 11,204 Acquisitions—prior year 114 (106) — 8 Foreign exchange 6,263 16,716 13,746 36,725 Balance as of March 31, 2023: Goodwill 1,367,007 996,352 649,321 3,012,680 Accumulated impairment losses (435,363) — — (435,363) Net $ 931,644 $ 996,352 $ 649,321 $ 2,577,317

[1]Other primarily includes intangible assets for non-compete agreements.[2]Other primarily includes netdowns of fully amortized or impaired assets.

LEASES (Tables)

LEASES (Tables)	3 Months Ended
LEASES (Tables)	Mar. 31, 2023
Leases [Abstract]
Significant Components of Operating Lease Expense	The significant components of operating lease expense are as follows: Three Months Ended 2023 2022 (in thousands) Operating lease expense $ 65,329 $ 63,761 Variable and short-term lease expense 31,342 18,032 Sublease income (2,188) (970) Net lease expense $ 94,483 $ 80,823
Supplemental Cash Flow Information for Operating Leases	Supplemental cash flow information for our operating leases is as follows: Three Months Ended 2023 2022 (in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 73,489 $ 66,232 Lease assets obtained in exchange for lease obligations, net of terminations $ 43,636 $ 157,244 As of March 31, 2023, we have additional operating leases that have not yet commenced, with total lease payments of $174.5 million. These operating leases, which are not included on our consolidated balance sheets, have commencement dates ranging from April 2023 to June 2030 due to certain offices and venues under construction with lease terms ranging from 2 to 30 years.

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	3 Months Ended
LONG-TERM DEBT (Tables)	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments [Table Text Block]	Long-term debt, which includes finance leases, consisted of the following: March 31, 2023 December 31, 2022 (in thousands) Senior Secured Credit Facility: Term loan A $ 377,500 $ 382,500 Term loan B 843,459 845,644 6.5% Senior Secured Notes due 2027 1,200,000 1,200,000 3.75% Senior Secured Notes due 2028 500,000 500,000 4.875% Senior Notes due 2024 575,000 575,000 5.625% Senior Notes due 2026 300,000 300,000 4.75% Senior Notes due 2027 950,000 950,000 2.5% Convertible Senior Notes due 2023 — 550,000 2.0% Convertible Senior Notes due 2025 400,000 400,000 3.125% Convertible Senior Notes due 2029 1,000,000 — Other long-term debt 528,932 252,199 Total principal amount 6,674,891 5,955,343 Less: unamortized discounts and debt issuance costs (63,110) (51,844) Total long-term debt, net of unamortized discounts and debt issuance costs 6,611,781 5,903,499 Less: current portion 63,870 620,032 Total long-term debt, net $ 6,547,911 $ 5,283,467
Schedule of Maturities of Long-term Debt [Table Text Block]	Future maturities of long-term debt at March 31, 2023 are as follows: (in thousands) Remainder of 2023 $ 55,837 2024 1,476,446 2025 51,803 2026 1,394,267 2027 2,155,327 Thereafter 1,541,211 Total $ 6,674,891

FAIR VALUE MEASUREMENTS Fair Va

FAIR VALUE MEASUREMENTS Fair Value Measurements (Tables)	3 Months Ended
FAIR VALUE MEASUREMENTS Fair Value Measurements (Tables)	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities Measured on a Recurring Basis	The following table shows the fair value of our significant financial assets that are required to be measured at fair value on a recurring basis, which are classified on the consolidated balance sheets as cash and cash equivalents. Estimated Fair Value March 31, 2023 December 31, 2022 Level 1 Level 2 Total Level 1 Level 2 Total (in thousands) Assets: Cash equivalents $ 794,275 $ — $ 794,275 $ 503,964 $ — $ 503,964 Interest rate swaps — 43,400 43,400 — 41,515 41,515
Estimated Fair Values of Debt	The following table presents the estimated fair values of our senior secured notes, senior notes and convertible senior notes: Estimated Fair Value at March 31, 2023 December 31, 2022 Level 2 (in thousands) 6.5% Senior Secured Notes due 2027 $ 1,213,140 $ 1,175,460 3.75% Senior Secured Notes due 2028 $ 448,095 $ 429,035 4.875% Senior Notes due 2024 $ 563,903 $ 560,027 5.625% Senior Notes due 2026 $ 291,978 $ 285,315 4.75% Senior Notes due 2027 $ 880,698 $ 847,562 2.5% Convertible Senior Notes due 2023 $ — $ 588,473 2.0% Convertible Senior Notes due 2025 $ 391,052 $ 397,536 3.125% Convertible Senior Notes due 2029 $ 985,040 $ —

EQUITY Equity (Tables)

EQUITY Equity (Tables)	3 Months Ended
EQUITY Equity (Tables)	Mar. 31, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table presents changes in the components of AOCI, net of taxes, for the three months ended March 31, 2023: Cash Flow Hedge Foreign Currency Items Total (in thousands) Balance at December 31, 2022 $ 41,283 $ (131,359) $ (90,076) Other comprehensive income before reclassifications (3,949) 80,148 76,199 Amount reclassified from AOCI (3,548) — (3,548) Net other comprehensive income (7,497) 80,148 72,651 Balance at March 31, 2023 $ 33,786 $ (51,211) $ (17,425)
Potentially Dilutive Securities Excluded From Diluted Net Income (Loss) Per Common Share	The following table shows securities excluded from the calculation of diluted net income (loss) per common share because such securities are anti-dilutive: Three Months Ended 2023 2022 Options to purchase shares of common stock 3,237,229 6,705,816 Restricted stock and deferred stock—unvested 3,593,402 3,805,686 Conversion shares related to the convertible senior notes 13,004,660 11,864,035 Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding 19,835,291 22,375,537

SEGMENTS AND REVENUE RECOGNIT_2

SEGMENTS AND REVENUE RECOGNITION (Tables)	3 Months Ended
SEGMENTS AND REVENUE RECOGNITION (Tables)	Mar. 31, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table presents the results of operations for our reportable segments for the three months ended March 31, 2023 and 2022: Concerts Ticketing Sponsorship Other & Eliminations Corporate Consolidated (in thousands) Three Months Ended March 31, 2023 Revenue $ 2,281,212 $ 677,741 $ 170,118 $ (1,681) $ — $ 3,127,390 % of Consolidated Revenue 72.9% 21.7% 5.4% —% Intersegment revenue $ 898 $ 783 $ — $ (1,681) $ — $ — AOI $ 832 $ 271,051 $ 95,531 $ (7,939) $ (39,765) $ 319,710 Three Months Ended March 31, 2022 Revenue $ 1,207,825 $ 480,399 $ 115,689 $ (1,105) $ — $ 1,802,808 % of Consolidated Revenue 67.0% 26.6% 6.4% —% Intersegment revenue $ 652 $ 1,266 $ — $ (1,918) $ — $ — AOI $ (49,166) $ 206,220 $ 69,700 $ (4,380) $ (13,335) $ 209,039 .
Reconciliation of AOI to Operating Income (Loss)	The following table sets forth the reconciliation of consolidated AOI to operating income for the three months ended March 31, 2023 and 2022: Three Months Ended March 31, 2023 2022 (in thousands) AOI $ 319,710 $ 209,039 Acquisition expenses 13,311 12,077 Amortization of non-recoupable ticketing contract advances 20,363 18,527 Depreciation and amortization 115,185 100,469 Loss on disposal of operating assets 504 1,665 Stock-based compensation expense 27,571 49,241 Operating income $ 142,776 $ 27,060
Contract with Customer, Asset and Liability	Deferred Revenue The majority of our deferred revenue is typically classified as current and is shown as a separate line item on the consolidated balance sheets. Deferred revenue that is not expected to be recognized within the next twelve months is classified as long-term and reflected in other long-term liabilities on the consolidated balance sheets. We had current deferred revenue of $3.1 billion and $2.8 billion at December 31, 2022 and 2021, respectively. The table below summarizes the amount of the preceding December 31 current deferred revenue recognized during the three months ended March 31, 2023 and 2022: Three Months Ended 2023 2022 (in thousands) Concerts $ 681,380 $ 278,546 Ticketing 34,600 23,043 Sponsorship & Advertising 50,680 34,239 $ 766,660 $ 335,828

BASIS OF PRESENTATION AND OTH_3

BASIS OF PRESENTATION AND OTHER INFORMATION (Basis of Presentation and Other Information) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Cash received that includes the face value of tickets sold on behalf of ticketing clients and their share of service charges.	$ 1,400,000,000	$ 1,500,000,000
Tax benefit recognized for losses incurred	0
Variable Interest Entity [Line Items]
Total assets	18,869,591,000	16,460,841,000
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Total assets	938,000,000	514,000,000
Liabilities	$ 791,000,000	$ 427,000,000

LONG-LIVED ASSETS (Property, Pl

LONG-LIVED ASSETS (Property, Plant and Equipment) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
LONG-LIVED ASSETS [Abstract]
Land, buildings and improvements	$ 1,971,186	$ 1,648,488
Computer equipment and capitalized software	861,009	910,793
Furniture and other equipment	558,433	535,719
Construction in progress	223,775	244,618
Property, plant and equipment, gross	3,614,403	3,339,618
Less: accumulated depreciation	1,727,333	1,851,955
Property, plant and equipment, net	$ 1,887,070	$ 1,487,663

LONG-LIVED ASSETS (Definite-liv

LONG-LIVED ASSETS (Definite-lived Intangibles) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount		$ 1,760,349
Accumulated amortization		(709,727)
Net		1,050,622
Acquisitions—current year		23,578
Acquisitions—prior year		(2,124)
Foreign exchange		43,175
Other (2)	[1]	(57,951)
Net change		6,678
Amortization		(57,475)	$ (49,700)
Foreign exchange		(4,327)
Other (2)	[1]	58,576
Net change		(2,762)
Gross carrying amount		1,767,027
Accumulated amortization		(712,489)
Net		$ 1,054,538
Weighted-average lives of definite-lived intangible assets		8 years
Estimate of amortization expense for each of the five succeeding fiscal years
Remainder of 2023		$ 155,399
2024		190,765
2025		159,011
2026		132,081
2027		$ 106,473
Finite-lived Intangible Assets Disposed Of		464
Client/vendor relationships [Member]
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount		$ 563,210
Accumulated amortization		(209,518)
Net		353,692
Acquisitions—current year		2,649
Acquisitions—prior year		119
Foreign exchange		8,597
Other (2)	[1]	(5,326)
Net change		6,039
Amortization		(18,910)
Foreign exchange		(1,396)
Other (2)	[1]	5,327
Net change		(14,979)
Gross carrying amount		569,249
Accumulated amortization		(224,497)
Net		$ 344,752
Weighted-average lives of definite-lived intangible assets		3 years
Estimate of amortization expense for each of the five succeeding fiscal years
Finite-lived Intangible Assets Disposed Of		—
Revenue-generating contracts [Member]
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount		$ 824,785
Accumulated amortization		(316,581)
Net		508,204
Acquisitions—current year		0
Acquisitions—prior year		(2,232)
Foreign exchange		28,868
Other (2)	[1]	(22,462)
Net change		4,174
Amortization		(26,175)
Foreign exchange		(1,861)
Other (2)	[1]	22,462
Net change		(5,574)
Gross carrying amount		828,959
Accumulated amortization		(322,155)
Net		$ 506,804
Estimate of amortization expense for each of the five succeeding fiscal years
Finite-lived Intangible Assets Disposed Of		—
Venue Management & Leaseholds
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount		$ 148,022
Accumulated amortization		(58,588)
Net		89,434
Acquisitions—current year		20,929
Acquisitions—prior year		(11)
Foreign exchange		1,621
Other (2)	[1]	0
Net change		22,539
Amortization		(4,029)
Foreign exchange		(372)
Other (2)	[1]	58
Net change		(4,343)
Gross carrying amount		170,561
Accumulated amortization		(62,931)
Net		$ 107,630
Weighted-average lives of definite-lived intangible assets		9 years
Estimate of amortization expense for each of the five succeeding fiscal years
Finite-lived Intangible Assets Disposed Of		—
Trademarks and naming rights [Member]
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount		$ 188,596
Accumulated amortization		(97,931)
Net		90,665
Acquisitions—current year		0
Acquisitions—prior year		0
Foreign exchange		4,003
Other (2)	[1]	(13,583)
Net change		(9,580)
Amortization		(4,765)
Foreign exchange		(479)
Other (2)	[1]	13,587
Net change		8,343
Gross carrying amount		179,016
Accumulated amortization		(89,588)
Net		$ 89,428
Estimate of amortization expense for each of the five succeeding fiscal years
Finite-lived Intangible Assets Disposed Of		—
Technology and Other intangible assets [Member]
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount	[2]	$ 35,736
Accumulated amortization	[2]	(27,109)
Net	[2]	8,627
Acquisitions—current year	[2]	0
Acquisitions—prior year	[2]	0
Foreign exchange	[2]	86
Other (2)	[1],[2]	(16,580)
Net change	[2]	(16,494)
Amortization	[2]	(3,596)
Foreign exchange	[2]	(219)
Other (2)	[1],[2]	17,142
Net change	[2]	13,791
Gross carrying amount	[2]	19,242
Accumulated amortization	[2]	(13,318)
Net	[2]	$ 5,924
Estimate of amortization expense for each of the five succeeding fiscal years
Finite-lived Intangible Assets Disposed Of		464

[1]Other primarily includes netdowns of fully amortized or impaired assets.[2]Other primarily includes intangible assets for non-compete agreements.

LONG-LIVED ASSETS (Definite-l_2

LONG-LIVED ASSETS (Definite-lived Intangibles Amortization) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Amortization of definite-lived intangible assets	$ 57,475	$ 49,700
Remainder of 2023	155,399
2024	190,765
2025	159,011
2026	132,081
2027	$ 106,473

LONG-LIVED ASSETS (Goodwill) (D

LONG-LIVED ASSETS (Goodwill) (Details) $ in Thousands	3 Months Ended
LONG-LIVED ASSETS (Goodwill) (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Changes in carrying amount of goodwill [Roll Forward]
Gross goodwill, beginning of period	$ 2,964,743
Accumulated impairment losses	(435,363)
Net goodwill, beginning of period	2,529,380
Acquisition—current year	11,204
Acquisitions—prior year	8
Foreign exchange	36,725
Gross goodwill, end of period	3,012,680
Accumulated impairment losses	(435,363)
Net goodwill, end of period	2,577,317
Concerts [Member]
Changes in carrying amount of goodwill [Roll Forward]
Gross goodwill, beginning of period	1,349,426
Accumulated impairment losses	(435,363)
Net goodwill, beginning of period	914,063
Acquisition—current year	11,204
Acquisitions—prior year	114
Foreign exchange	6,263
Gross goodwill, end of period	1,367,007
Accumulated impairment losses	(435,363)
Net goodwill, end of period	931,644
Ticketing [Member]
Changes in carrying amount of goodwill [Roll Forward]
Gross goodwill, beginning of period	979,742
Accumulated impairment losses	0
Net goodwill, beginning of period	979,742
Acquisition—current year	0
Acquisitions—prior year	(106)
Foreign exchange	16,716
Gross goodwill, end of period	996,352
Accumulated impairment losses	0
Net goodwill, end of period	996,352
Sponsorship and Advertising [Member]
Changes in carrying amount of goodwill [Roll Forward]
Gross goodwill, beginning of period	635,575
Accumulated impairment losses	0
Net goodwill, beginning of period	635,575
Acquisition—current year	0
Acquisitions—prior year	0
Foreign exchange	13,746
Gross goodwill, end of period	649,321
Accumulated impairment losses	0
Net goodwill, end of period	$ 649,321

LONG-LIVED ASSETS (Investments

LONG-LIVED ASSETS (Investments in Nonconsolidated Affiliates) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Investments [Abstract]
Investments in nonconsolidated affiliates	$ 361.5	$ 408.8

LEASES (Significant Components

LEASES (Significant Components Of Operating Lease Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Operating lease expense	$ 65,329	$ 63,761
Variable and short-term lease expense	31,342	18,032
Sublease income	(2,188)	(970)
Net lease expense	$ 94,483	$ 80,823

LEASES (Supplemental Cash Flow

LEASES (Supplemental Cash Flow Information For Operating Leases) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 73,489	$ 66,232
Lease assets obtained in exchange for lease obligations, net of terminations	$ 43,636	$ 157,244

LEASES (Weighted Average Remain

LEASES (Weighted Average Remaining Lease Term and Discount Rate for Operating Leases) (Details) $ in Millions	Mar. 31, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Total lease payments due under operating leases that have not yet commenced	$ 174.5
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lease term for operating leases that have not yet commenced	2 years
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lease term for operating leases that have not yet commenced	30 years

LONG-TERM DEBT (Schedule of Lon

LONG-TERM DEBT (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total principal amount	$ 6,674,891	$ 5,955,343
Less: unamortized discounts and debt issuance costs	(63,110)	(51,844)
Total long-term debt, net of unamortized discounts and debt issuance costs	6,611,781	5,903,499
Current portion of long-term debt, net	63,870	620,032
Long-term debt, net	6,547,911	5,283,467
Senior Secured Credit Facility Term loan A [Member]
Debt Instrument [Line Items]
Total principal amount	377,500	382,500
Senior Secured Credit Facility Term loan B [Member]
Debt Instrument [Line Items]
Total principal amount	843,459	845,644
6.5% Senior Secured Notes Due 2027 [Member]
Debt Instrument [Line Items]
Total principal amount	1,200,000	1,200,000
3.75% Senior Secured Notes Due 2028 [Member]
Debt Instrument [Line Items]
Total principal amount	500,000	500,000
4.875% Senior Notes Due 2024 [Member]
Debt Instrument [Line Items]
Total principal amount	575,000	575,000
5.625% Senior Notes Due 2026 [Member]
Debt Instrument [Line Items]
Total principal amount	300,000	300,000
4.75% Senior Notes due 2027 [Member]
Debt Instrument [Line Items]
Total principal amount	950,000	950,000
2.5% Convertible Senior Notes Due 2023
Debt Instrument [Line Items]
Total principal amount	0	550,000
2.0% Convertible Senior Notes Due 2025 [Member]
Debt Instrument [Line Items]
Total principal amount	400,000	400,000
3.125% Convertible Senior Notes Due 2029
Debt Instrument [Line Items]
Total principal amount	1,000,000	0
Other Long Term Debt [Member]
Debt Instrument [Line Items]
Total principal amount	$ 528,932	$ 252,199

LONG-TERM DEBT (Future of Matur

LONG-TERM DEBT (Future of Maturities of Long-Term Debt) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Maturities of Long-term Debt [Abstract]
Remainder of 2023	$ 55,837
2024	1,476,446
2025	51,803
2026	1,394,267
2027	2,155,327
Thereafter	1,541,211
Total	$ 6,674,891	$ 5,955,343

LONG-TERM DEBT (3.125% Converti

LONG-TERM DEBT (3.125% Convertible Senior Notes due 2029) (Details)			3 Months Ended
	Jan. 12, 2023 USD ($)	Jan. 09, 2023	Mar. 31, 2023 USD ($) shares	Mar. 31, 2022 USD ($)	Mar. 15, 2023 USD ($)
Debt Instrument [Line Items]
Loss on extinguishment of debt			$ (18,366,000)	$ 0
Repurchase of 2.5% convertible senior notes due 2023			$ (27,325,000)
3.125% Convertible Senior Notes Due 2029
Debt Disclosure [Abstract]
Face amount	$ 1,000,000,000
Debt Instrument, Interest Rate, Stated Percentage	3.125%
Proceeds from Issuance of Debt	$ 485,800,000
Debt Instrument [Line Items]
Face amount	$ 1,000,000,000
Debt Instrument, Interest Rate, Stated Percentage	3.125%
Debt Instrument Convertible Conversion Premium	50
Last reported sale price used to calculate conversion premium	72.26
Maximum number of shares issuable upon conversion	13.8 million
Debt Issuance Costs, Net	$ 15,000,000
Debt Instrument, Convertible, Remaining Discount Amortization Period			6 years
Effective interest rate			3.40%
Proceeds from Issuance of Debt	$ 485,800,000
Conversion ratio	0.0092259
3.125% Convertible Senior Notes Due 2029 \| Debt Instrument Redemption Redeem for Cash
Debt Instrument [Line Items]
Redemption price, percentage	100%
3.125% Convertible Senior Notes Due 2029 \| Redemption, Defined Changes of Control [Member]
Debt Instrument [Line Items]
Redemption price, percentage	100%
2.5% Convertible Senior Notes Due 2023
Debt Disclosure [Abstract]
Debt Instrument, Interest Rate, Stated Percentage	2.50%				2.50%
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.50%				2.50%
Debt Instrument, Repurchased Face Amount	$ 440,000,000				$ 110,000,000
Conversion of convertible debt (in shares) \| shares			156,750
Repurchase of 2.5% convertible senior notes due 2023			$ 27,300,000
Capped Call Transaction
Debt Instrument [Line Items]
Derivative, Cap Price	144.52
Capped Call Premium		100
Payments for Derivative Instrument, Financing Activities	$ 75,500,000

LONG-TERM DEBT (Debt Extinguish

LONG-TERM DEBT (Debt Extinguishment) (Details) - USD ($) $ in Thousands		3 Months Ended
	Jan. 12, 2023	Mar. 31, 2023	Mar. 31, 2022	Mar. 15, 2023
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ (18,366)	$ 0
Repurchase of 2.5% convertible senior notes due 2023		(27,325)
3.125% Convertible Senior Notes Due 2029
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.125%
Proceeds from Issuance of Debt	$ 485,800
2.5% Convertible Senior Notes Due 2023
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.50%			2.50%
Debt Instrument, Repurchased Face Amount	$ 440,000			$ 110,000
Repurchase of 2.5% convertible senior notes due 2023		$ 27,300
Conversion of convertible debt (in shares)		156,750

LONG-TERM DEBT (Other Long Term

LONG-TERM DEBT (Other Long Term Debt) (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Other Long Term Debt [Member] \| United States Venue Management Acquisition
Debt Instrument [Line Items]
Other Long-Term Debt	$ 270,700

FAIR VALUE MEASUREMENTS (Assets

FAIR VALUE MEASUREMENTS (Assets and Liabilities Measured On A Recurring Basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Cash equivalents	$ 794,275	$ 503,964
Recurring [Member]
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Interest Rate Derivative Assets, at Fair Value	43,400	41,515
Level 1 [Member] \| Recurring [Member]
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Cash equivalents	794,275	503,964
Interest Rate Derivative Assets, at Fair Value	0	0
Level 2 [Member] \| Recurring [Member]
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Cash equivalents	0	0
Interest Rate Derivative Assets, at Fair Value	$ 43,400	$ 41,515

FAIR VALUE MEASUREMENTS (Fair V

FAIR VALUE MEASUREMENTS (Fair Value of Debt) (Details) - Level 2 [Member] - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
6.5% Senior Secured Notes Due 2027 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	$ 1,213,140	$ 1,175,460
3.75% Senior Secured Notes Due 2028 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	448,095	429,035
4.875% Senior Notes Due 2024 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	563,903	560,027
5.625% Senior Notes Due 2026 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	291,978	285,315
4.75% Senior Notes due 2027 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	880,698	847,562
2.5% Convertible Senior Notes Due 2023
Debt Fair Value [Line Items]
Estimated fair values of convertible senior notes	0	588,473
2.0% Convertible Senior Notes Due 2025 [Member]
Debt Fair Value [Line Items]
Estimated fair values of convertible senior notes	391,052	397,536
3.125% Convertible Senior Notes Due 2029
Debt Fair Value [Line Items]
Estimated fair values of convertible senior notes	$ 985,040	$ 0

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES (Details) - Astroworld Festival	3 Months Ended
	Mar. 31, 2023 numberOfClaims	Nov. 05, 2021
Loss Contingencies [Line Items]
Astroworld Fatal Injuries		10
Loss Contingency, New Claims Filed, Number	450
Loss Contingency, Claims Settled, Number	3

EQUITY (Accumulated Other Compr

EQUITY (Accumulated Other Comprehensive Loss) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2022	$ (90,076)
Other comprehensive income before reclassifications	76,199
Amount reclassified from AOCI	(3,548)
Net other comprehensive income	72,651
Balance at March 31, 2023	(17,425)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2022	41,283
Other comprehensive income before reclassifications	(3,949)
Amount reclassified from AOCI	(3,548)
Net other comprehensive income	(7,497)
Balance at March 31, 2023	33,786
Foreign Currency Items [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2022	(131,359)
Other comprehensive income before reclassifications	80,148
Amount reclassified from AOCI	0
Net other comprehensive income	80,148
Balance at March 31, 2023	$ (51,211)

EQUITY (Antidilutive Securities

EQUITY (Antidilutive Securities Excluded from Computation of Earnings per Share) (Details) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding	19,835,291	22,375,537
Options to purchase shares of common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding	3,237,229	6,705,816
Restricted and deferred stock awards—unvested [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding	3,593,402	3,805,686
Conversion shares related to the convertible senior notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding	13,004,660	11,864,035

SEGMENTS AND REVENUE RECOGNIT_3

SEGMENTS AND REVENUE RECOGNITION Segment Results of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Revenue	$ 3,127,390	$ 1,802,808
AOI	319,710	209,039
Operating Segments [Member] \| Concerts [Member]
Segment Reporting Information [Line Items]
Revenue	$ 2,281,212	$ 1,207,825
Percentage of Concert revenue to consolidated revenue	72.90%	67%
AOI	$ 832	$ (49,166)
Operating Segments [Member] \| Ticketing [Member]
Segment Reporting Information [Line Items]
Revenue	$ 677,741	$ 480,399
Percentage of Ticketing revenue to consolidated revenue	21.70%	26.60%
AOI	$ 271,051	$ 206,220
Operating Segments [Member] \| Sponsorship and Advertising [Member]
Segment Reporting Information [Line Items]
Revenue	$ 170,118	$ 115,689
Percentage of Sponsorship & Advertising revenue to consolidated revenue	5.40%	6.40%
AOI	$ 95,531	$ 69,700
Operating Segments [Member] \| Corporate Segment
Segment Reporting Information [Line Items]
Revenue	0	0
AOI	(39,765)	(13,335)
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	(1,681)	(1,918)
Intersegment Eliminations [Member] \| Concerts [Member]
Segment Reporting Information [Line Items]
Revenue	898	652
Intersegment Eliminations [Member] \| Ticketing [Member]
Segment Reporting Information [Line Items]
Revenue	783	1,266
Intersegment Eliminations [Member] \| Sponsorship and Advertising [Member]
Segment Reporting Information [Line Items]
Revenue	0	0
Intersegment Eliminations [Member] \| Other and Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	$ (1,681)	$ (1,105)
Percentage of Other and Eliminations to Total Revenue	—	—
AOI	$ (7,939)	$ (4,380)
Intersegment Eliminations [Member] \| Corporate Segment
Segment Reporting Information [Line Items]
Revenue	$ 0	$ 0

SEGMENTS AND REVENUE RECOGNIT_4

SEGMENTS AND REVENUE RECOGNITION Reconciliation of AOI (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Reconciliation of AOI [Line Items]
AOI	$ 319,710	$ 209,039
Acquisition expenses	13,311	12,077
Amortization of non-recoupable ticketing contract advances	20,363	18,527
Depreciation and amortization	115,185	100,469
Loss on disposal of operating assets	(504)	(1,665)
Stock-based compensation expense	27,571	49,241
Operating income	$ 142,776	$ 27,060

SEGMENTS AND REVENUE RECOGNIT_5

SEGMENTS AND REVENUE RECOGNITION Ticketing Contract Advances (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Capitalized Contract Cost [Line Items]
Amortization of non-recoupable ticketing contract advances	$ 20,363	$ 18,527
Ticketing [Member]
Capitalized Contract Cost [Line Items]
Amortization of non-recoupable ticketing contract advances	20,400	$ 18,500
Prepaid Expenses [Member] \| Ticketing [Member]
Capitalized Contract Cost [Line Items]
Ticketing contract advances	87,800		$ 106,500
Other Noncurrent Assets [Member] \| Ticketing [Member]
Capitalized Contract Cost [Line Items]
Ticketing contract advances	$ 106,200		$ 105,000

SEGMENTS AND REVENUE RECOGNIT_6

SEGMENTS AND REVENUE RECOGNITION Performance Obligation (Details) - Sponsorship and Advertising [Member] $ in Billions	Mar. 31, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue related to future benefits to be provided by the Company	$ 1.5
Percentage of revenue on contracts to be recognized during the remainder of current year	30%
Percentage of revenue on contracts to be recognized next year	26%
Percentage of revenue on contracts to be recognized in two years	19%
Percentage of revenue to be recognized on contracts thereafter	25%

SEGMENTS AND REVENUE RECOGNIT_7

SEGMENTS AND REVENUE RECOGNITION Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, current	$ 5,103,432		$ 3,134,800
Deferred Revenue, prior				$ 2,800,000
Recognition of deferred revenue	766,660	$ 335,828
Concerts [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognition of deferred revenue	681,380	278,546
Ticketing [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognition of deferred revenue	34,600	23,043
Sponsorship and Advertising [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognition of deferred revenue	$ 50,680	$ 34,239