Live Nation Opens 2019 With a Convincing Beat; Concerts Continue to Drive Growth
Live Nation started 2019 on a rousing note as first-quarter revenue and EBITDA handily outperformed consensus expectations. The firm’s concerts division drove the beat with fans up 22% over last year to 15 million. While the outperformance was impressive, the first quarter is historically the smallest for the live entertainment firm. As a result, we are maintaining our narrow moat and $62 fair value estimate. With shares trading in 3-star territory, we would suggest investors wait for a pullback...Live Nation Entertainment is a live entertainment company. The company's segments are: Concerts, which involves the global promotion of live music events, the operation and management of music venues, the production of music festivals, the creation of associated content and the provision of management and other services to artists; Ticketing, which is an agency business that sells tickets for events on behalf of its clients and retains a fee, or service charge, for these services; and Sponsorship and Advertising, which employs a sales force that creates and maintains relationships with sponsors that allow businesses to reach customers through its concert, festival, venue and ticketing assets.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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