Live Nation generated revenues of $10.1 billion in Q3 (the three months ending September 30, 2026), up 19% YoY from $8.5 billion in Q3 2025.

That’s according to Live Nation‘s latest quarterly results, published on Thursday (November 5).

According to Live Nation, international markets have overtaken the US in 2026 so far, in both concert attendance and sponsorship revenue.

In Q3, Live Nation‘s international fan attendance grew 29% YoY, while attendance in North America rose 13% YoY.

“Through October, we’ve sold 170 million tickets, up 13% and already ahead of all of last year. We now expect to welcome nearly 180 million fans in 2026.”

Michael Rapino, Live Nation

International markets accounted for 60% of Live Nation‘s global fan growth in the quarter, and 75% of its growth in fee-bearing tickets.

International sponsorship also surpassed North America in operating income and AOI (adjusted operating income) in Q3, according to Live Nation.

Across the company, Live Nation‘s global fan attendance grew 19% YoY to 61 million in Q3.

Operating income rose 13% YoY to $892.0 million, while AOI increased 14% YoY to $1.18 billion.

Commenting on the results, Live Nation‘s President and CEO, Michael Rapino, said: “In a world of endless screens and AI-generated everything, the one thing that can’t be replicated is being there.

“Artists are taking their music to more fans in more places than ever, and fans are showing up in record numbers. Through October, we’ve sold 170 million tickets, up 13% and already ahead of all of last year. We now expect to welcome nearly 180 million fans in 2026.

“This quarter attendance grew 19%, and year-to-date, international markets surpassed the U.S. in both concert attendance and sponsorship revenue – a powerful sign of how global live music has become. We’re investing in more venues around the world, giving artists more stages to build their careers and fans more opportunities to experience the magic of live music.

“With double-digit adjusted operating income (AOI) growth across all three segments this quarter, we’re on track to deliver another record year and sustain double-digit growth for years to come.”

INTERNATIONAL

International fan attendance grew in every region in Q3, with each one up at least 15% YoY, Live Nation said.

International fee-bearing ticket volume at Ticketmaster rose 20% YoY, while international markets contributed 65% of sponsorship revenue growth in the quarter.

Live Nation expects arenas outside the US to deliver 75% of the fan growth at the large venues it owns or operates in 2026.

Attendance at those international arenas has now surpassed attendance at Live Nation‘s US amphitheaters, according to the company.

The company’s international venue expansion this year has included the acquisition of ForumNet Group, owner of Milan’s Unipol Forum arena.

CONCERTS

Live Nation‘s Concerts revenue for the third quarter of 2026 was $8.75 billion, up 20% YoY.

Concerts AOI grew 17% YoY to $602.9 million (up 19% YoY at constant currency).

The 61 million fans who attended Live Nation shows in Q3 compares with the 49 million it reported in Q2.

In North America, stadiums and amphitheaters drove 90% of Live Nation‘s fan growth in Q3.

Fan attendance at third-party stadiums rose over 40% YoY, accounting for more than half of Live Nation‘s global fan growth.

Live Nation said that ticket sales for its 2026 shows reached approximately 170 million through late October, up 13% YoY, and “already exceeding full-year 2025.”

The company now expects fan attendance to “approach 180 million” for the full year, with Concerts “on track to deliver double-digit AOI growth,” according to Live Nation.

Live Nation‘s event-related deferred revenue reached $3.8 billion at the end of Q3, up 8% YoY, which the company called a “record” for a third quarter.

TICKETING

Live Nation‘s Ticketing revenue grew 9% YoY to $870.3 million in Q3 (up 8% YoY at constant currency).

Ticketing AOI increased 10% YoY to $315.7 million.

Ticketmaster‘s fee-bearing ticket volume rose 10% YoY to 98 million, which Live Nation called a “record.”

Fee-bearing gross transaction value (GTV) grew 13% YoY to $11.2 billion, with Concerts accounting for 95% of the growth in fee-bearing tickets.

Secondary ticket GTV was flat YoY, with growth in sports offsetting lower concert resale activity, “consistent with efforts to constrain scalper sales,” according to Live Nation.

Net new ticketing agreements added 23 million tickets, with over 70% coming from international markets, Live Nation said.

Live Nation now expects full-year Ticketing AOI to grow by high single digits, up from the mid-single-digit growth it forecast in July.

SPONSORSHIP AND ADVERTISING

Live Nation‘s Sponsorship and Advertising revenue grew 14% YoY to $505.7 million in Q3 (up 13% YoY at constant currency).

Sponsorship AOI increased 12% YoY to $350.2 million (up 11% YoY at constant currency).

International markets, “led by ticket access, venues, and festivals,” contributed 65% of sponsorship revenue growth in the quarter, according to Live Nation.

VENUE NATION

Live Nation‘s Venue Nation division hosted 26 million fans in Q3, up 17% YoY.

The company now expects Venue Nation to host over 75 million fans in 2026, up more than 15% YoY.

Live Nation said it is on track to open or acquire 10 large venues (over 3,000 capacity) by the end of 2026.

Those venues are expected to deliver over 5 million fans this year, with a run-rate of nearly 8 million, according to Live Nation.

Live Nation‘s capital expenditures totaled $722 million in the first nine months of 2026, and are on track to reach nearly $1.1 billion for the full year, of which $800 million is “directed toward expanding and improving venues.”

PROFIT AND CASH FLOW

Live Nation‘s Q3 AOI of $1.18 billion equates to an AOI margin of 11.7%, compared to 12.2% in Q3 2025, by MBW’s calculations.

Net income attributable to Live Nation‘s common stockholders was $447.8 million in Q3, compared to $431.5 million a year earlier.

For the first nine months of 2026, Live Nation‘s operating income fell 25% YoY to $1.04 billion.

That decline reflects a $450.0 million charge for what Live Nation calls “Governmental Investigations and Litigation,” which the company excludes from AOI.

In April, a federal jury in Manhattan found that Live Nation and Ticketmaster had illegally monopolized markets including primary concert ticketing at major venues.

Year-to-date operating cash flow grew 45% YoY to $2.1 billion, while free cash flow (adjusted) rose 25% YoY to $1.6 billion.

Live Nation ended Q3 with free cash of $2.31 billion, and said an October refinancing “extended maturities to 2031.”

Live Nation will host its 2026 Investor Presentation on Tuesday (November 10).Music Business Worldwide