Live Nation Entertainment has reported an operating loss of $371 million in Q1, impacted by a $450m ‘legal accrual’.

The concert giant posted revenues of $3.79 billion during the quarter, 12% up on the same period last year and close to its Q1 record set in 2024. Despite the huge revenue result, Ticketmaster’s owner posted a $450m dent to its bottom line reflecting the estimated amount of damages awarded in the antitrust case that resolved Live Nation Entertainment (LNE) had run a harmful monopoly across the US.

LNE said that despite the impact of the $450 million legal accrual on its 2026 operating income, the company is on track to grow adjusted operating income (AOI) by double-digits this year

It reported overall AOI of $371m during Q1, up 9% on the same period last year. Concerts generated AOI of $3m with attendance of 24 million, up 7%. Ticketing AOI hit $256m, fuelled by the sale of 81 million fee-bearing tickets, while sponsorship AOI was up 21% to $165m.

Despite the impact of the legal accrual, LNE CEO & president Michael Rapino was bullish about the year ahead, stating that in an increasingly digital and AI-driven world, the global desire for authentic human connection has never been stronger.

“We are seeing a fundamental shift as fans prioritise the live experience; the chance to be physically present with their favourite artists and share that energy with friends and fellow fans in a way a screen simply cannot replicate,” he said.

“This cultural demand is driving record-breaking activity across our business. We have already booked over 85% of our large-venue shows for the year, with show counts up year-over-year across stadiums, arenas, and amphitheatres. Our momentum is clear: we have sold over 107 million tickets to date—an 11% increase—and Venue Nation is on track to grow fan attendance at our owned and operated venues by double-digits. As we continue to expand our global footprint to meet this growing demand for physical connection, we are well positioned for long-term compounding double-digit growth.”

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