Key Partners
- Artists and managers on ~55,000 shows (FACT).
- Nearly $15B invested in artists and shows in 2025 (FACT).
- Venue and sports clients on Ticketmaster (FACT).
- 27M net new enterprise tickets added in 2025 (FACT).
- Brand sponsors — onsite and online (FACT).
- JV partners help fund venue expansion (FACT).
Key Activities
- Promote ~55,000 shows a year (FACT).
- Operate Venue Nation — 65M fans in 2025 (FACT).
- Run Ticketmaster primary and secondary sales (FACT).
- Sell sponsorship across venues and festivals (FACT).
- Build and renovate large venues (FACT).
- Win enterprise ticketing clients globally (FACT).
Key Resources
- Ticketmaster platform and venue contracts (FACT).
- Venue Nation operated venues and festivals (FACT).
- 346M fee-bearing tickets in 2025 (FACT).
- Event-related deferred revenue $4.0B, Dec 2025 (FACT).
- PPE net $3.4B; goodwill $2.9B (FACT).
- Pipeline of 25+ large venues through 2027 (FACT, 2026 update).
Value Propositions
- Global stadium and amphitheater reach for artists (FACT).
- Nearly $15B invested in artists in 2025 (FACT).
- 75% of US tickets under $100 in 2025 (FACT).
- Ticketmaster distribution for venues and sports (FACT).
- Measured live audiences for brand sponsors (FACT).
- Premium and hospitality upgrades at new venues (FACT).
Customer Relationships
- Ticketmaster accounts, apps and mobile entry (FACT).
- Pre-sales and verified fan tools (FACT).
- Multi-year artist and festival deals (INFERENCE from business model).
- Exclusive or preferred venue ticketing deals (FACT).
- Strategic sponsors >$1M revenue, +20% count by mid-2026 (FACT).
- Anti-bot / anti-scalper initiatives (FACT).
Channels
- Ticketmaster apps, websites and outlets (FACT).
- Live Nation concert and festival sites (FACT).
- Major-tour on-sales as marketing events (FACT).
- Regional promotion and touring teams (FACT).
- Enterprise ticketing sales, esp. international (FACT).
- Sponsorship sales vs Venue Nation inventory (FACT).
Customer Segments
- Artists and managers (FACT).
- Concert and festival fans — 159M in 2025 (FACT).
- Venue and sports ticketing clients (FACT).
- Brand sponsors across major categories (FACT).
- International markets now leading fan growth (FACT).
- Premium / hospitality guests at new venues (FACT).
Cost Structure
- Direct operating expenses $18,763M (FACT).
- SG&A $4,092M (FACT).
- D&A $639M; corporate expenses $475M (FACT).
- Artist and show investment ~$15B (FACT).
- PPE purchases $1.06B; 2026 capex ~$1.1B (FACT).
- H1 2026 — $450M litigation accrual (FACT).
Revenue Streams
- Concerts $20,861M, +10%; AOI $687M (FACT).
- Ticketing $3,081M, +3%; AOI $1,134M (FACT).
- Sponsorship $1,329M, +11%; AOI $845M (FACT).
- Ticketing excludes ticket face value (FACT).
- FY2025 revenue $25.20B (+9%) (FACT).
- FY2025 net income $691M (FACT).