By Kelly Cloonan

Live Nation swung to a loss in its latest quarter as legal fees weighed on its bottom line, while revenue climbed on growing demand for concerts.

The live entertainment ticket provider posted a first-quarter loss of $389.1 million, compared with a profit of $23.2 million a year earlier. Loss per share was $1.85, compared with analysts' expectations for a loss of 35 cents a share, according to FactSet.

The recent earnings were hurt by a $450 million legal accrual, which posed a $1.93 headwind to earnings per share, the company said.

Last month, a federal jury found that Live Nation illegally monopolized the ticketing market for major concerts in the U.S., in a win for a group of states that accused it of overcharging music fans and pressuring venues to use its dominant Ticketmaster service.

Live Nation's quarterly revenue climbed 12% to $3.79 billion, compared with analyst estimates of $3.57 billion.

Concert sales, which make up the bulk of the company's top line, increased 12%. Ticketing sales rose 10% and sponsorship and advertising sales gained 20%.

Chief Executive Michael Rapino said consumers are prioritizing live experiences in an increasingly digital- and artificial intelligence-driven world, boosting demand for concerts.

"This cultural demand is driving record-breaking activity across our business," Rapino said, noting the company has booked more than 85% of its large-venue shows for the year.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

May 05, 2026 17:16 ET (21:16 GMT)

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