8 Best Music Stocks to Buy According to Hedge Funds

2. Live Nation Entertainment, Inc. (NYSE:LYV)

Number of Hedge Fund Holders: 50

Live Nation Entertainment, Inc. (NYSE:LYV) is a leading live entertainment company comprised of global market leaders including Ticketmaster, Live Nation Concerts, and Live Nation Media & Sponsorship. The firm operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in the firm’s owned or operated venues, and in rented third-party venues. The ticketing segment sells tickets for its events and third-party clients across multiple live event categories. The Sponsorship & Advertising segment delivers highly effective music marketing programs for advertisers.

As a global leader in live, the company’s teams produce more concerts, sell more tickets, and connect more brands to music than others. Live Nation Entertainment, Inc. (NYSE:LYV)  is the world’s largest producer of live entertainment with 121 million annual fans and 44,000 annual concerts across over 45 countries. The ticketing segment remains robust as the firm boasts the world’s leading ticketing platform with 550 million tickets sold annually.

For the second quarter, the firm saw its revenue up 7% year-over-year to over $6 billion and record Q2 concerts adjusted operating income margin of 5.4%. Demand was strong globally with fans continuing to prioritize concert going and spending onsite. 39 million fans attended approximately 15,000 Live Nation concerts globally, up 5% and 20% respectively. Simultaneously, Ticketmaster performed well with Q2 among the top five quarters for both transacted and reported ticket sales despite reduced stadium activity. Venue Nation’s investments in hospitality and infrastructure are also supporting strong returns as more attendees maximize their onsite experiences.

Live Nation Entertainment, Inc. (NYSE:LYV) is a world leader in music with an unmatched scale and access. As of Q2, the stock is held by 50 hedge funds.