SEGMENT DATA

12 Months Ended

Dec. 31, 2019

Segment Reporting Disclosure [Text Block]

SEGMENT DATA

For all periods presented, our reportable segments are Concerts, Ticketing and Sponsorship & Advertising. Our Concerts segment involves the promotion of live music events globally in our owned or operated venues and in rented third-party venues, the production of music festivals, the operation and management of music venues, the creation of associated content and the provision of management and other services to artists. Our Ticketing segment involves the management of our global ticketing operations, including providing ticketing software and services to clients, and consumers with a marketplace, both online and mobile, for tickets and event information, and is responsible for our primary ticketing website, www.ticketmaster.com. Our Sponsorship & Advertising segment manages the development of strategic sponsorship programs in addition to the sale of international, national and local sponsorships and placement of advertising such as signage, promotional programs, rich media offerings, including advertising associated with live streaming and music-related content, and ads across our distribution network of venues, events and websites.

Revenue and expenses earned and charged between segments are eliminated in consolidation. Our capital expenditures below include accruals for amounts incurred but not yet paid for, but are not reduced by reimbursements received from outside parties such as landlords or replacements funded by insurance proceeds.

We manage our working capital on a consolidated basis. Accordingly, segment assets are not reported to, or used by, our management to allocate resources to or assess performance of our segments, and therefore, total segment assets have not been presented.

There were no customers that individually accounted for more than 10% of our consolidated revenue in any year.

The following table presents the results of operations for our reportable segments for the years ending December 31, 2019, 2018 and 2017:


	Concerts		Ticketing		Sponsorship & Advertising		Other		Corporate		Eliminations		Consolidated
	(in thousands)
2019
Revenue	$	9,428,094	$	1,545,189	$	590,274	$	3,162	$	—	$	(18,750)	$	11,547,969
Direct operating expenses	7,857,437		514,169		114,326		—		—		(18,750)		8,467,182
Selling, general and administrative expenses	1,386,928		642,052		112,594		3,912		—		—		2,145,486
Depreciation and amortization	239,682		156,894		33,084		364		13,967		—		443,991
Loss (gain) on disposal of operating assets	(2,490)		116		—		—		1		—		(2,373)
Corporate expenses	—		—		—		—		168,839		—		168,839
Operating income (loss)	$	(53,463)	$	231,958	$	330,270	$	(1,114)	$	(182,807)	$	—	$	324,844
Intersegment revenue	$	6,672	$	12,078	$	—	$	—	$	—	$	(18,750)	$	—
Capital expenditures	$	186,819	$	105,246	$	10,261	$	—	$	35,252	$	—	$	337,578
2018
Revenue	$	8,770,031	$	1,529,566	$	503,968	$	3,724	$	—	$	(19,489)	$	10,787,800
Direct operating expenses	7,340,757		549,265		92,494		4,905		—		(19,489)		7,967,932
Selling, general and administrative expenses	1,248,346		634,829		97,540		16,313		—		—		1,997,028
Depreciation and amortization	206,772		143,551		30,779		817		4,610		—		386,529
Loss (gain) on disposal of operating assets	10,361		7		2		—		(1)		—		10,369
Corporate expenses	—		—		—		—		153,406		—		153,406
Operating income (loss)	$	(36,205)	$	201,914	$	283,153	$	(18,311)	$	(158,015)	$	—	$	272,536
Intersegment revenue	$	5,193	$	14,296	$	—	$	—	$	—	$	(19,489)	$	—
Capital expenditures	$	129,129	$	110,202	$	7,541	$	169	$	15,273	$	—	$	262,314
2017
Revenue	$	7,892,076	$	1,346,510	$	445,148	$	21,012	$	—	$	(17,524)	$	9,687,222
Direct operating expenses	6,641,071		460,881		78,725		18,746		—		(17,525)		7,181,898
Selling, general and administrative expenses	1,119,335		681,948		87,268		19,172		—		—		1,907,723
Depreciation and amortization	226,315		112,727		27,669		432		5,057		1		372,201
Loss (gain) on disposal of operating assets	(1,056)		49		—		—		38		—		(969)
Corporate expenses	—		—		—		—		134,972		—		134,972
Operating income (loss)	$	(93,589)	$	90,905	$	251,486	$	(17,338)	$	(140,067)	$	—	$	91,397
Intersegment revenue	$	1,061	$	16,643	$	—	$	—	$	—	$	(17,524)	$	—
Capital expenditures	$	109,801	$	105,317	$	6,701	$	149	$	25,926	$	—	$	247,894

The following table provides revenue and long-lived assets for our foreign operations included in the consolidated financial statements:


	Total Foreign Operations		Total Domestic Operations		Consolidated Total
	(in thousands)
2019
Revenue	$	3,915,426	$	7,632,543	$	11,547,969
Long-lived assets	$	263,349	$	854,583	$	1,117,932
2018
Revenue	$	3,661,222	$	7,126,578	$	10,787,800
Long-lived assets	$	199,299	$	747,294	$	946,593
2017
Revenue	$	3,408,661	$	6,278,561	$	9,687,222
Long-lived assets	$	201,724	$	684,212	$	885,936