Live Nation Entertainment, Inc. (NYSE:LYV) Q4 2023 Earnings Conference Call February 22, 2024 5:00 PM ET

Company Participants

Amy Yong - Head, Investor Relations

Michael Rapino - President and Chief Executive Officer

Joe Berchtold - President and Chief Financial Officer

Conference Call Participants

Stephen Laszczyk - Goldman Sachs

Brandon Ross - LightShed Partners

David Karnovsky - JPMorgan

Cameron Mansson-Perrone - Morgan Stanley

Jason Bazinet - Citibank

Ashton Welles - Evercore ISI

David Katz - Jefferies

Operator

Good afternoon. My name is John, and I'll be your conference operator today. At this time, I would like to welcome everyone to Live Nation's Fourth Quarter and Full Year 2023 Earnings Call.

And I would now like to turn the call over to Ms. Yong. Thank you. Ms. Yong, you may begin your conference.

Amy Yong

Good afternoon, and welcome to the Live Nation fourth quarter and full year 2023 earnings conference call.

Joining us today is our President and CEO, Michael Rapino; and our President and CFO, Joe Berchtold.

Before we begin, we would like to remind you that this afternoon's call will contain certain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ, including statements related to the company's anticipated financial performance, business prospects, new developments and similar matters. Please refer to Live Nation's SEC filings, including the risk factors and cautionary statements included in the company's most recent filings on Forms 10-K, 10-Q and 8-K for a description of risks and uncertainties that could impact the actual results.

Live Nation will also refer to some non-GAAP measures on this call. In accordance with the SEC Regulation G, Live Nation has provided definitions of these measures and a full reconciliation to the most comparable GAAP measures in our earnings release. The release reconciliation can be found under the Financial Information section on Live Nation's website.

And with that, let me open the call for questions. Operator?

Question-and-Answer Session

Operator

Thank you. We will now be conducting a question-and-answer session. [Operator Instructions] And the first question comes from the line of Stephen Laszczyk with Goldman Sachs. Please proceed with your question.

Stephen Laszczyk

Hey, great, thank you. Good afternoon. Maybe one on the mix shift in the slate and one on Sponsorship. A lot has been made on the mix shift shifting more towards the amphitheaters this year. Maybe for Joe, just from a modeling perspective, could you help us think through how the mix shift will impact the cadence of revenue growth and margin expansion across the Concerts and Ticketing segments in 2024? And maybe how we should expect the business to pace towards the double-digit AOI growth you called out in the release?