Live Nation Entertainment, Inc. (NYSE:LYV) Q4 2023 Earnings Call Transcript

Joe Berchtold: Yeah, David, this is Joe. I think absolutely there are increasing benefits to scale on the Sponsorship business. One of the things that the brands are telling us they’re looking for is they want to reach customers at a time when they are open to the brands, which we have, but they want to make sure that it’s at scale. That at-scale really matters. So, they’re not trying to do a lot of different little programs. And so, we’re seeing a lot more demand. We’re over $1 billion in revenue on the Sponsorship side. We’re 100 — closing in on 150 million fans. So, we — over 600 million tickets on Ticketmaster. So, we’ve now got a scale and that scale continues to beget more scale. So absolutely, we see a very strong continued growth in that business.

David Katz: So just to follow it up, and I’m not fishing for any kind of guidance or anything like that. But the growth rate in Sponsorship obviously could outgrow and grow more than potentially that of Concerts at some future day, right, if we’re sort of plotting those lines?

Joe Berchtold: Well, I think if you look historically, look back since 2010, Concerts has consistently grown faster than our Sponsorship business, and we think it continues to be a strong double-digit growth business.

David Katz: Got it. Okay. Thank you.

Operator: There are no further questions at this time. I would like to turn the floor back over to Michael Rapino for any closing comments.

Michael Rapino: Thank you. I appreciate all your support, and we’ll talk to you at the end of Q1.

Operator: This concludes today’s teleconference. You may disconnect your lines at this time. Thank you for your participation.