Live Nation Entertainment Posts FY Loss

(RTTNews) - Live Nation Entertainment Inc. (LYV) reported that its fourth-quarter net loss attributable to common stockholders was $1.72 billion or $8.12 per share, compared to net income of $69.89 million in the prior year.

Revenue for the year dropped to $1.86 billion from $11.55 billion in the prior year.

At the end of the fourth quarter of 2020, the company had total cash and cash equivalents of $2.5 billion, which includes $643 million of free cash.

"Given the limited touring activity in 2020 and 2021, the pipeline for 2022 is much stronger than usual, with almost twice as many major touring artists on cycle in 2022 than a typical year - about 45 artists versus the usual 25," the company said.