WWE SummerSlam 2025: How to watch the two-night event live on Peacock this weekend
While you've probably noticed that Netflix is the streaming home of WWE Raw in the U.S., this weekend's SummerSlam is not a part of that deal which is why you'll be able to catch this event on Peacock. Here's everything you need to know about how to watch this summer's biggest event yet.
How to watch WWE SummerSlam:
Date: August 2-3
Time: 6 p.m. ET
Location: MetLife Stadium, New Jersey
Streaming: Peacock
Where to watch WWE SummerSlam:
The WWE SummerSlam two-night event will air live on Saturday, August 2 and Sunday, August 3, 2025 on Peacock, with fights starting at 6 p.m. ET.
Who will be at WWE SummerSlam 2025?
SummerSlam's big headliner is the Street Fight between Undisputed WWE Champion John Cena and Cody Rhodes on Sunday. The other fights at the event include Jade Cargill vs. WWE Women's Champion Tiffany Stratton, a Triple Threat Match between Rhea Ripley, IYO SKY and Naomi, and a four-way battle between Randy Orton & Jelly Roll vs. Drew McIntyre & Logan Paul.
How to watch the WWE SummerSlam:
WWE SummerSlam Full Match Card, Night 1:
Women's Tag Team Champions Raquel Rodriguez & Roxanne Perez vs. Charlotte Flair & Alexa Bliss
World Heavyweight Champion Gunther vs. CM Punk
Randy Orton & Jelly Roll vs. Drew McIntyre & Logan Paul
Roman Reigns & Jey Uso vs. Bron Breakker & Bronson Reed
WWE Women's Champion Tiffany Stratton vs. Jade Cargill
Sami Zayn vs. Karrion Kross
WWE SummerSlam Full Match Card, Night 2:
Intercontinental Champion Dominik Mysterio vs. AJ Styles
Street fight: Undisputed WWE Champion John Cena vs. Cody Rhodes
Steel cage match: United States Champion Solo Sikoa vs. Jacob Fatu
No DQ match: Women's Intercontinental Champion Becky Lynch vs. Lyra Valkyria
Women's World Champion Naomi defends against IYO SKY and Rhea Ripley in a triple threat match
Six-pack TLC match: WWE Tag Team Champions The Wyatt Sicks vs. Motor City Machine Guns, The Street Profits, DIY, Fraxiom, and Andrade & Rey Fenix
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LIVE NATION ENTERTAINMENT REPORTS SECOND QUARTER 2025 RESULTS
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We're continuing to deliver record revenue and concert ticket sales, and with investments focused on high‑growth markets and fan experiences, we're positioned to grow operating income and adjusted operating income by double-digits this year and for years to come." – Michael Rapino, President and CEO GLOBAL FAN DEMAND DRIVES RECORD Q2 RESULTS (vs same period last year) Revenue of $7 billion, up 16% Operating income of $487 million, up 4% Adjusted operating income (AOI) of $798 million, up 11% Record concerts profitability with AOI of $359 million, up 33% Global attendance up 14% to 44 million fans, with stadium attendance tripling Ticketmaster Gross Transaction Value (GTV) increased 7% to $9 billion Strong international growth: Concert fans, Ticketmaster GTV, and Sponsorship sales all up double-digits RECORD CONCERT TICKET SALES AND ONSITE SPENDING (through July vs same period last year) Over 130 million tickets sold for Live Nation concerts, up 6%, led by the strength of our international markets with double-digit attendance increases across stadiums, arenas, and theaters and clubs Strong ticket sales at every price point from premium to budget-friendly seats: Over 40% of global stadium shows sold out 95% of tickets in the first week, up double-digits Over 10% of seats across stadiums, arenas, and amphitheaters in the U.S. priced closer to market value Ticket to Summer promotion sold 1.5 million $30 lawn seats, consistent with historical levels Continued growth in onsite spending across all venue types, including concession spending at large amphitheaters up double-digits KEY METRICS POINT TO ANOTHER RECORD YEAR (vs same period last year) Q2 deferred revenue highlights accelerating momentum Concerts event-related deferred revenue $5.1 billion, up 25% All-time high Ticketmaster deferred revenue $317 million, up 22% Venue Nation expected to host approximately 70 million fans this year, up double-digits 95% of expected 2025 sponsorship committed, up double-digits CONCERTS DELIVERS Q2 RECORD FINANCIAL RESULTS AND ATTENDANCE (vs 2Q24) Highest-ever Q2 revenue of $6 billion, up 19% Record Q2 AOI of $359 million, up 33% Margin of 6%, up 60 basis points Global attendance grew 14% to 44 million fans Global stadiums tripled in fan count from last year International arena fan count up 20% Overall fan count at international markets up over 30%, driven by strength across Europe, Asia-Pacific and Latin America GLOBAL GROWTH POWERS MOMENTUM THROUGH THE REMAINDER OF THE YEAR Nearly all large venue shows booked for the rest of 2025 Double-digit international fan growth expected in 2H Full-year AOI margins on track to be consistent with last year Investing $15 billion in artist events globally in 2025, making Live Nation the largest financial supporter of the artist community VENUE NATION HOSTING MORE SHOWS AND FANS GLOBALLY Further expanded our venue portfolio, opening four amphitheaters across the U.S. and adding one stadium in Canada year-to-date. We expect to bring additional venues online in 2H, with key projects underway in Mexico, Colombia, and Canada Our venue development pipeline continues to grow, expecting ten new large venues to open next year – each with fan capacity of 3,000 and above – across the U.S. and international markets Collectively, these venues create incremental capacity for six million fans on a run-rate basis Venue capital investments for new builds and refurbishments continue to deliver 20%+ returns New amphitheaters are delivering strong results, with food and beverage sales tracking double-digits higher compared to our historical portfolio, while also selling out premium seating Based on our current assessment, tariffs are expected to have minimal impact on venue investment costs, festival supply chain, and other costs CONCERTS AND INTERNATIONAL ACTIVITY DRIVES TICKETMASTER RESULTS (vs 2Q24) Revenue of $743 million, up 2% AOI of $290 million, consistent with last year Record Q2 total reported GTV of $9 billion, up 7% Secondary GTV down mid-single digits due to increased market-based pricing in concerts and sports along with several lower-performing sporting events Over 83 million fee-bearing tickets sold, up 4% International ticket volume up double-digits Concerts ticket volume up high-single digits while sports and other content continued to trail 2024 levels TICKETMASTER POSITIONED FOR GROWTH IN SECOND HALF OF 2025 (through July vs same period last year) Q2 record deferred revenue of $317 million, up 22%, driven by Live Nation concerts activity 17 million net new enterprise tickets signed, up 10%, with approximately 70% of the growth from international markets On track to grow AOI double-digits in 2H Full-year AOI margin expected to be consistent with prior years GLOBAL REACH AND SCALE CONTINUES TO ATTRACT BRAND PARTNERS Revenue of $341 million, up 9% AOI of $228 million, up 2% Expanding our portfolio of brand partners through new agreements with major consumer brands including Kraft Heinz, Airbnb, and Samsung; as well as a ticket access agreement with United Airlines Global venue portfolio expanding its name-in-title sponsorships, including TD Coliseum at Hamilton and Veikkaus Arena at Helsinki BRANDS CONTINUE TO SEE STRATEGIC VALUE FROM ENGAGING WITH CONCERT FANS (through July vs same period last year) 95% of revenue committed for 2025, up double-digits On track to deliver double-digit increase in AOI for the full year, with notable strength in Q4 Full-year AOI margin expected to be consistent with prior years STRONG BALANCE SHEET TO SUPPORT STRATEGIC VENUE EXPANSION Year-to-date net cash provided by operating activities of $1.5 billion and free cash flow—adjusted of $654 million, up 5%, and on track to grow both of these metrics by double-digits for the full year relative to last year Year-to-date capital expenditures of $420 million; 2025 full year capital expenditures estimated to be $900 million to $1 billion $700 to $800 million of total capex is related to venue expansion and enhancement plans, for which the cash outlay will be reduced by approximately $200 million from funding by joint-venture partners, sponsorship agreements, and other sources Maintenance capex spend remains consistent with historical levels Over 90% of our debt is at fixed rates with a weighted average cost of debt of approximately 4.4%, with no remaining debt maturities this year FINANCIAL DETAILS FROM THE ADDITIONAL 24% PURCHASE OF OCESA The transaction will increase our ownership to 75% and is expected to close in August Largely as a result of OCESA's continued growth and the amended purchase agreement, total accretion for Q3 is expected to be $250 million and then fall to $35 million in Q4 Full-year non-controlling interest expense is expected to increase in line with our AOI growth These estimates are based on current projections for OCESA performance, current FX rates, and assume all other joint-ventures performance in line with current forecasts OTHER FINANCIAL INFORMATION The cumulative effect on Q2 net income of accretion, higher taxes, and foreign exchange was $185 million higher cost compared to last year, impacting EPS Based on current projected rates, foreign exchange is not expected to materially impact 2H financials Full year depreciation and amortization expected to increase by approximately $75 million compared to last year Our full-year P&L tax expense is expected to be 15-20% of our AOI. Carryforward operating losses will continue to reduce our U.S. cash taxes, resulting in global cash tax payments that are projected to be 20-25% lower than our P&L expense 2025 share count not expected to change materially from 2024 Compare Our Operating Results To Past Quarters In The Trended Results Grid: The company will webcast a teleconference today, August 7, 2025, at 2:00 p.m. Pacific Time to discuss its financial performance, operational matters and potentially other material developments. Interested parties should visit the "News / Events" section of the company's website at to listen to the webcast. Supplemental statistical and financial information to be provided on the call, if any, will be posted to the "Financial Info" section of the website. A replay of the webcast will also be available on the Live Nation website. The link to the 2Q25 Trended Results Grid is provided above for convenience and such grid is not a part of, or incorporated into, this press release or any SEC filings that include this press release. Notice Regarding Financial Statements The company has provided certain financial statements at the end of this press release for reference. These financial statements should be read in conjunction with the full financial statements, and the notes thereto, set forth in the company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 to be filed with the Securities and Exchange Commission today and available on the SEC's website at About Live Nation Entertainment: Live Nation Entertainment, Inc. (NYSE: LYV) is the world's leading live entertainment company comprised of global market leaders: Ticketmaster, Live Nation Concerts, and Live Nation Media & Sponsorship. For additional information, visit FINANCIAL HIGHLIGHTS – SECOND QUARTER (unaudited; $ in millions) Q2 2025 ReportedQ2 2024 ReportedChangeQ2 2025 Currency ImpactsQ2 2025 at Constant CurrencyChange at Constant Currency RevenueConcerts $ 5,946.4$ 4,987.019 %$ (67.3)$ 5,879.118 % Ticketing 742.7730.72 %3.0745.72 % Sponsorship & Advertising 340.6312.29 %5.5346.111 % Other and Eliminations (23.1)(6.5)*0.2(22.9)*$ 7,006.6$ 6,023.416 %$ (58.6)$ 6,948.015 % Consolidated Operating Income $ 486.7$ 465.84 %$ (4.3)$ 482.44 % Adjusted Operating Income (Loss) Concerts $ 358.7$ 270.733 %$ (9.1)$ 349.629 % Ticketing 290.1292.5(1) %3.6293.7* Sponsorship & Advertising 227.6222.62 %1.7229.33 % Other and Eliminations (6.8)(8.2)*0.0(6.8)* Corporate (71.2)(61.4)(16) %0.1(71.1)(16) %$ 798.4$ 716.211 %$ (3.7)$ 794.711 %* Percentages are not meaningful FINANCIAL HIGHLIGHTS – SIX MONTHS (unaudited; $ in millions) 6 Months 2025 Reported6 Months 2024 ReportedChange6 Months 2025 Currency Impacts6 Months 2025 Constant CurrencyChange at Constant Currency RevenueConcerts $ 8,430.5$ 7,866.47 %$ 17.7$ 8,448.27 % Ticketing 1,437.41,453.9(1) %22.61,460.0* Sponsorship & Advertising 556.6523.56 %18.8575.410 % Other and Eliminations (35.7)(20.9)*0.0(35.7)*$ 10,388.8$ 9,822.96 %$ 59.1$ 10,447.96 % Consolidated Operating Income $ 601.4$ 424.442 %$ 10.5$ 611.944 % Adjusted Operating Income (Loss) Concerts $ 365.3$ 268.936 %$ (9.6)$ 355.732 % Ticketing 543.2576.6(6) %15.6558.8(3) % Sponsorship & Advertising 363.6352.63 %9.9373.56 % Other and Eliminations (12.7)(15.4)*0.0(12.7)* Corporate (119.9)(104.0)(15) %0.2(119.7)(15) %$ 1,139.5$ 1,078.76 %$ 16.1$ 1,155.67 %* Percentages are not meaningful Reconciliation of Operating Income to Adjusted Operating Income (unaudited; $ in millions) Q2 2025 Q2 20246 Months 2025 6 Months 2024 Operating Income $ 486.7 $ 465.8$ 601.4 $ 424.4 Acquisition expenses 79.2 (30.0)109.0 0.6 Amortization of non-recoupable ticketing contract advances 20.7 21.245.4 45.2 Depreciation and amortization 159.0 137.7308.5 270.3 Gain on sale of operating assets (0.9) (0.8)(3.1) (1.4) Astroworld estimated loss contingencies (7.8) 94.0(7.8) 279.9 Stock-based compensation expense 61.5 28.386.1 59.7 Adjusted Operating Income $ 798.4 $ 716.2$ 1,139.5 $ 1,078.7 Reconciliations of Certain Non-GAAP Measures to Their Most Directly Comparable GAAP Measures (unaudited; $ in millions)Reconciliation of Free Cash Flow — Adjusted to Net Cash Provided by Operating Activities ($ in millions) Q2 2025Q2 2024 Net cash provided by operating activities $ 223.4$ 412.1 Changes in operating assets and liabilities (working capital) 387.892.7 Changes in accrued liabilities for Astroworld estimated loss contingencies (7.8)94.0 Free cash flow from earnings $ 603.4$ 598.8 Less: Maintenance capital expenditures (34.2)(27.1) Distributions to noncontrolling interests (131.1)(115.7) Free cash flow — adjusted $ 438.1$ 456.0 Net cash used in investing activities $ (275.0)$ (263.7) Net cash used in financing activities $ (325.3)$ (164.6) Reconciliation of Free Cash Flow — Adjusted to Net Cash Provided by Operating Activities($ in millions) 6 Months 20256 Months 2024 Net cash provided by operating activities $ 1,544.7$ 1,401.0 Changes in operating assets and liabilities (working capital) (668.8)(835.2) Changes in accrued liabilities for Astroworld estimated loss contingencies (7.8)279.9 Free cash flow from earnings $ 868.1$ 845.7 Less: Maintenance capital expenditures (49.1)(49.6) Distributions to noncontrolling interests (164.8)(171.9) Free cash flow — adjusted $ 654.2$ 624.2 Net cash used in investing activities $ (492.4)$ (434.4) Net cash used in financing activities $ (498.5)$ (643.0) Reconciliation of Free Cash to Cash and Cash Equivalents($ in millions) June 30,2025 Cash and cash equivalents $ 7,057.0 Short-term investments 57.6 Client cash (1,703.2) Deferred revenue — event-related (5,140.3) Accrued artist fees (339.0) Collections on behalf of others (123.0) Prepaid expenses — event-related 1,290.5 Free cash $ 1,099.6Forward-Looking Statements, Non-GAAP Financial Measures and Reconciliations: Certain statements in this press release, including the Supplemental Information that follows, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to statements regarding the company's positioning to grow operating income and adjusted operating income by double digit in 2025 and for years to come; key metrics pointing to another record year; expected Venue Nation fans for 2025; the level of expected 2025 sponsorship; the expectation that global growth will power momentum in the company's Concerts segment through the remainder of 2025, with double-digit international fan growth expected in the second half of the year; the company's expectations for full-year 2025 adjusted operating income margins in its Concerts segment; the anticipated level of investment in artist events globally for 2025; expectations regarding key projects and additional venues planned to come online in the second half of 2025 in the company's global portfolio of operated venues, the company's venue development pipeline for 2026 in the U.S. and internationally, and the anticipated incremental fans from these projects; the anticipated minimal impact of tariffs on venue investment costs, festival supply chain, and other costs; Ticketmaster's positioning for growth in the second half of 2025; anticipated adjusted operating income growth in the second half of 2025 for Ticketmaster; expectations for Ticketmaster's full-year adjusted operating income margin; the Sponsorship & Advertising segment's anticipated increase in adjusted operating income for 2025, with expected strength in the fourth quarter; full-year 2025 adjusted operating income and adjusted operating income margin expectations for the Sponsorship & Advertising segment; expectations for full-year 2025 net cash provided by operating activities and free cash flow—adjusted growth; estimated capital expenditures for 2025, including those related to venue expansion and enhancement plans; the anticipated closing timeline and financial impact of the company's additional purchase of OCESA, including expected total accretion levels for the third and fourth quarters of 2025, and anticipated full-year non-controlling interest expense for 2025; the company's expectation that foreign exchange rates will not materially impact financials in the second half of 2025; the expected level of depreciation and amortization for full-year 2025; expected P&L tax expense for 2025 and global cash tax payments; and expectations for 2025 share count. Live Nation wishes to caution you that there are some known and unknown factors that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements, including but not limited to operational challenges in achieving strategic objectives and executing on the company's plans, the risk that the company's markets do not evolve as anticipated, the potential impact of any economic slowdown and operational challenges associated with selling tickets and staging events. Live Nation refers you to the documents it files from time to time with the U.S. Securities and Exchange Commission, or SEC, specifically the section titled "Item 1A. Risk Factors" of the company's most recent Annual Report filed on Form 10-K, and Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K, which contain and identify other important factors that could cause actual results to differ materially from those contained in the company's projections or forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date on which they are made. All subsequent written and oral forward-looking statements by or concerning Live Nation are expressly qualified in their entirety by the cautionary statements above. Live Nation does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise. This press release contains certain non-GAAP financial measures as defined by SEC Regulation G. A reconciliation of each such measure to its most directly comparable GAAP financial measure, together with an explanation of why management believes that these non-GAAP financial measures provide useful information to investors, is provided herein. Adjusted Operating Income (Loss), or AOI, is a non-GAAP financial measure that we define as operating income (loss) before certain acquisition expenses (including ongoing legal costs stemming from the Ticketmaster merger, changes in the fair value of accrued acquisition-related contingent consideration obligations, and acquisition-related severance and compensation), amortization of non-recoupable ticketing contract advances, depreciation and amortization (including goodwill impairment), loss (gain) on disposal of operating assets, and stock-based compensation expense. We also exclude from AOI the impact of estimated or realized liabilities for settlements or damages arising out of the Astroworld matter that exceed our estimated insurance recovery, due to the significant and non-recurring nature of the matter. Ongoing legal costs associated with defense of these claims, such as attorney fees, are not excluded from AOI. We use AOI to evaluate the performance of our operating segments. We believe that information about AOI assists investors by allowing them to evaluate changes in the operating results of our portfolio of businesses separate from non-operational factors that affect net income (loss), thus providing insights into both operations and the other factors that affect reported results. AOI is not calculated or presented in accordance with GAAP. A limitation of the use of AOI as a performance measure is that it does not reflect the periodic costs of certain amortizing assets used in generating revenue in our business. Accordingly, AOI should be considered in addition to, and not as a substitute for, operating income (loss), net income (loss), and other measures of financial performance reported in accordance with GAAP. Furthermore, this measure may vary among other companies; thus, AOI as presented herein may not be comparable to similarly titled measures of other companies. AOI margin is a non-GAAP financial measure that we calculate by dividing AOI by revenue. We use AOI margin to evaluate the performance of our operating segments. We believe that information about AOI margin assists investors by allowing them to evaluate changes in the operating results of our portfolio of businesses separate from non-operational factors that affect net income (loss), thus providing insights into both operations and the other factors that affect reported results. AOI margin is not calculated or presented in accordance with GAAP. A limitation of the use of AOI margin as a performance measure is that it does not reflect the periodic costs of certain amortizing assets used in generating revenue in our business. Accordingly, AOI margin should be considered in addition to, and not as a substitute for, operating income (loss) margin, and other measures of financial performance reported in accordance with GAAP. Furthermore, this measure may vary among other companies; thus, AOI margin as presented herein may not be comparable to similarly titled measures of other companies. Constant Currency is a non-GAAP financial measure when applied to a GAAP financial measure. We calculate currency impacts as the difference between current period activity translated using the current period's currency exchange rates and the comparable prior period's currency exchange rates. We present constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. Free Cash Flow—Adjusted, or FCF, is a non-GAAP financial measure that we define as net cash provided by (used in) operating activities less changes in operating assets and liabilities, less maintenance capital expenditures, less distributions to noncontrolling interest partners. We use FCF among other measures, to evaluate the ability of operations to generate cash that is available for purposes other than maintenance capital expenditures. We believe that information about FCF provides investors with an important perspective on the cash available to service debt, make acquisitions, and for revenue generating capital expenditures. FCF is not calculated or presented in accordance with GAAP. A limitation of the use of FCF as a performance measure is that it does not necessarily represent funds available for operations and is not necessarily a measure of our ability to fund our cash needs. Accordingly, FCF should be considered in addition to, and not as a substitute for, net cash provided by (used in) operating activities and other measures of financial performance reported in accordance with GAAP. Furthermore, this measure may vary among other companies; thus, FCF as presented herein may not be comparable to similarly titled measures of other companies. Free Cash is a non-GAAP financial measure that we define as cash and cash equivalents less ticketing-related client funds, less event-related deferred revenue, less accrued expenses due to artists and cash collected on behalf of others, plus event-related prepaids. We use free cash as a proxy for how much cash we have available to, among other things, optionally repay debt balances, make acquisitions and fund revenue generating capital expenditures. Free cash is not calculated or presented in accordance with GAAP. A limitation of the use of free cash as a performance measure is that it does not necessarily represent funds available from operations and it is not necessarily a measure of our ability to fund our cash needs. Accordingly, free cash should be considered in addition to, and not as a substitute for, cash and cash equivalents and other measures of financial performance reported in accordance with GAAP. Furthermore, this measure may vary among other companies; thus, free cash as presented herein may not be comparable to similarly titled measures of other companies. LIVE NATION ENTERTAINMENT, INC. CONSOLIDATED BALANCE SHEETS (unaudited) June 30,2025December 31,2024(in thousands) ASSETSCurrent assets Cash and cash equivalents $ 7,056,975$ 6,095,424 Accounts receivable, less allowance of $81,087 and $72,663, respectively 2,464,8291,747,316 Prepaid expenses 1,911,7061,247,184 Restricted cash 12,62510,685 Other current assets 377,016189,528 Total current assets 11,823,1519,290,137 Property, plant and equipment, net 2,949,2932,441,872 Operating lease assets 1,738,2181,618,033 Intangible assets Definite-lived intangible assets, net 1,091,697985,812 Indefinite-lived intangible assets, net 369,073380,558 Goodwill 2,820,9182,620,911 Long-term advances 626,920520,482 Other long-term assets 1,731,0631,780,966 Total assets $ 23,150,333$ 19,638,771 LIABILITIES AND EQUITYCurrent liabilities Accounts payable, client accounts $ 2,116,846$ 1,859,678 Accounts payable 404,877242,978 Accrued expenses 3,285,8663,057,334 Deferred revenue 5,910,0683,721,092 Current portion of long-term debt, net 1,485,353260,901 Current portion of operating lease liabilities 158,577153,406 Other current liabilities 96,98562,890 Total current liabilities 13,458,5729,358,279 Long-term debt, net 4,990,9956,177,168 Long-term operating lease liabilities 1,784,7191,680,266 Other long-term liabilities 610,465477,763 Commitments and contingent liabilitiesRedeemable noncontrolling interests 1,377,6651,126,302 Stockholders' equityCommon stock 2,3242,313 Additional paid-in capital 1,788,3932,059,746 Accumulated deficit (1,271,336)(1,546,819) Cost of shares held in treasury (6,865)(6,865) Accumulated other comprehensive loss (152,446)(335,112) Total Live Nation stockholders' equity 360,070173,263 Noncontrolling interests 567,847645,730 Total equity 927,917818,993 Total liabilities and equity $ 23,150,333$ 19,638,771 LIVE NATION ENTERTAINMENT, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) Three Months Ended June 30,Six Months Ended June 30,2025202420252024(in thousands except share and per share data) Revenue $ 7,006,641$ 6,023,416$ 10,388,758$ 9,822,945 Operating expenses:Direct operating expenses 5,210,7564,408,2097,465,6937,059,549 Selling, general and administrative expenses 1,003,344926,2221,782,2661,907,781 Depreciation and amortization 159,025137,729308,480270,323 Gain on disposal of operating assets (856)(779)(3,058)(1,430) Corporate expenses 147,71986,216233,955162,293 Operating income 486,653465,819601,422424,429 Interest expense 72,04879,970152,391160,661 Interest income (37,893)(44,425)(71,954)(87,682) Equity in earnings of nonconsolidated affiliates (4,268)(5,376)(4,747)(5,460) Other expense (income), net 36,380(20,742)39,333(97,796) Income before income taxes 420,386456,392486,399454,706 Income tax expense 117,64580,164137,356121,183 Net income 302,741376,228349,043333,523 Net income attributable to noncontrolling interests 59,33078,25882,42990,028 Net income attributable to common stockholders of Live Nation $ 243,411$ 297,970$ 266,614$ 243,495 Basic net income per common share available to common stockholders of Live Nation $ 0.41$ 1.05$ 0.09$ 0.48 Diluted net income per common share available to common stockholders of Live Nation $ 0.41$ 1.03$ 0.09$ 0.48 Weighted average common shares outstanding:Basic 231,845,412229,921,527231,534,852229,696,356 Diluted 234,417,428245,002,995234,658,608232,024,314 Reconciliation to net income available to common stockholders of Live Nation: Net income attributable to common stockholders of Live Nation $ 243,411$ 297,970$ 266,614$ 243,495 Accretion of redeemable noncontrolling interests (147,801)(57,325)(245,895)(132,435) Net income available to common stockholders of Live Nation—basic $ 95,610$ 240,645$ 20,719$ 111,060 Convertible debt interest, net of tax —10,790—— Net income available to common stockholders of Live Nation—diluted $ 95,610$ 251,435$ 20,719$ 111,060 LIVE NATION ENTERTAINMENT, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) Six Months Ended June 30,20252024(in thousands) CASH FLOWS FROM OPERATING ACTIVITIESNet income $ 349,043$ 333,523 Reconciling items:Depreciation 183,804146,168 Amortization of definite-lived intangibles 124,676124,155 Amortization of non-recoupable ticketing contract advances 45,44345,241 Deferred income taxes 25,129(6,078) Amortization of debt issuance costs and discounts 8,1317,881 Stock-based compensation expense 86,09759,738 Unrealized changes in fair value of contingent consideration 9,304(28,573) Equity in losses of nonconsolidated affiliates, net of distributions 8,7745,671 Provision for uncollectible accounts receivable 13,539(9,806) Loss (Gain) on mark-to-market of investments in nonconsolidated affiliates and crypto assets 133(100,153) Loss (Gain) on forward currency exchange contracts 31,584(8,019) Other, net (9,730)(3,953) Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:Increase in accounts receivable (622,765)(465,797) Increase in prepaid expenses and other assets (822,523)(646,147) Increase in accounts payable, accrued expenses and other liabilities 225,791430,886 Increase in deferred revenue 1,888,2921,516,217 Net cash provided by operating activities 1,544,7221,400,954 CASH FLOWS FROM INVESTING ACTIVITIESAdvances of notes receivable (19,156)(75,973) Collections of notes receivable 17,78421,290 Investments made in nonconsolidated affiliates (14,492)(30,593) Purchases of property, plant and equipment (434,207)(333,689) Cash paid for acquisition of right-of-use assets (20,800)— Cash paid for acquisitions, net of cash acquired (50,090)(17,579) Proceeds from sale of intangible assets 20,040— Other, net 8,4952,139 Net cash used in investing activities (492,426)(434,405) CASH FLOWS FROM FINANCING ACTIVITIESProceeds from long-term debt, net of debt issuance costs 62,764886 Payments on long-term debt including extinguishment costs (103,625)(377,132) Contributions from noncontrolling interests 11,26428 Distributions to noncontrolling interests (164,819)(171,908) Purchases of noncontrolling interests, net (206,112)(47,980) Proceeds from exercise of stock options 3,44312,819 Taxes paid for net share settlement of equity awards (86,585)(38,551) Payments for deferred and contingent consideration (14,399)(20,390) Other, net (383)(748) Net cash used in financing activities (498,452)(642,976) Effect of exchange rate changes on cash, cash equivalents and restricted cash 409,647(152,989) Net increase in cash, cash equivalents and restricted cash 963,491170,584 Cash, cash equivalents and restricted cash at beginning of period 6,106,1096,238,956 Cash, cash equivalents and restricted cash at end of period $ 7,069,600$ 6,409,540 View original content to download multimedia: SOURCE Live Nation Entertainment Sign in to access your portfolio
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Ex-‘Superman' star Dean Cain joining ICE to support Trump's mass deportations
Dean Cain, an actor known for playing Superman on TV, has gone full-on Super MAGA with his announcement that he's becoming an ICE agent. The 'Lois & Clark: The New Adventures of Superman' star revealed in a social media video that he enlisted as an officer in the U.S. Immigration and Customs Enforcement agency. 'For those who don't know, I am a sworn law enforcement officer, as well as being a filmmaker, and I felt it was important to join with our first responders to help secure the safety of all Americans, not just talk about it,' he said in the Instagram clip shared Wednesday. The 59-year-old also took the opportunity to encourage recruitment to the federal agency, which has become a lightning rod amid President Donald Trump's controversial mass deportation agenda. 'If you want to help save America, ICE is arresting the worst of the worst and removing them from America's streets. I like that. I voted for that,' Cain said. 'They need your help. We need your help, to protect our homeland and our families.' ICE announced last month that it was shooting to recruit an additional 10,000 personnel, doubling the agency's headcount as it ramps up deportations across the United States. The agency promised sign-on bonuses of up to $50,000 and student loan forgiveness. In an appearance on Fox News Wednesday night, Cain told host Jesse Waters: 'I will be sworn in as an ICE agent ASAP.' Explaining his motivation, Cain talked about how the 'country was built on patriots stepping up, whether it was popular or not, and doing the right thing.' The former Buffalo Bills free agent said he 'truly believe[s]' he's doing the right thing. 'We have a broken immigration system,' Cain added. 'Congress needs to fix it, but in the interim, President Trump ran on this. He is delivering on this. This is what people voted for. It's what I voted for and he's going to see it through, and I'll do my part and help make sure it happens.' An outspoken Trump supporter, who previously admitted he voted for Bill Clinton and John McCain, the actor extolled the virtues of the MAGA leader in an interview with Variety last month. 'I love President Trump. I've been friends with him forever,' he said. 'Trump is actually one of the most empathetic, wonderful, generous people you'll ever meet.' Cain starred as the Man of Steel opposite Teri Hatcher between 1993 and 1997 in the 'Lois & Clark' TV series. His other acting credits include 'Out of Time,' God's Not Dead,' and 'OBAMAGATE: The Movie.'
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Notre Dame transfer wideout named to Biletnikoff Award watch list
Notre Dame transfer wideout named to Biletnikoff Award watch list originally appeared on The Sporting News After a bittersweet but highly successful season that ended with a loss to Ohio State in the College Football Playoff National Championship, Notre Dame head coach Marcus Freeman and the Fighting Irish will look to build on that success in 2025. Notre Dame's transfer portal during the offseason was highlighted by standout wide receiver Malachi Fields. The 6-foot-4, 223-pound pass catcher from Charlottesville, Virginia, transferred from the University of Virginia after a junior season in which he tallied 55 receptions, 808 yards, and five touchdowns for the Cavaliers. With Fields transferring to a more competitive football program at Notre Dame, his potential has shot through the roof. The redshirt senior has been named one of the 47 pass catchers in the preseason watch list for the Biletnikoff Award. The award is given to college football's most outstanding FBS receiver, regardless of position. The Virginia transfer joins a large list of other Notre Dame players nominated for preseason awards. Fields will catch passes from either redshirt freshman CJ Carr or redshirt sophomore Kenny Minchey. The two quarterbacks are currently competing for Notre Dame's starting quarterback position, leading up to their Week 1 matchup against Miami on Aug. 31. Some of Malachi Fields' most impressive performances in his final season at Virginia include an 11-reception, 148-yard game against Wake Forest on Sept. 7, as well as a nine-reception, 129-yard performance against Louisville on Oct. 12. He will compete for a chance at winning the second Biletnikoff Award in program history. Golden Tate won the award for the Fighting Irish in 2009.
