SEGMENT DATA

3 Months Ended

Mar. 31, 2020

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.

The following table presents the results of operations for our reportable segments for the three months ended March 31, 2020 and 2019:


	Concerts		Ticketing		Sponsorship & Advertising		Other		Corporate		Eliminations		Consolidated



















Three Months Ended March 31, 2020
Revenue	$	993,393	$	284,277	$	90,261	$	796	$	—	$	(3,034)	$	1,365,693
Direct operating expenses	750,905		104,413		21,536		—		—		(3,034)		873,820
Selling, general and administrative expenses	331,276		157,546		22,987		2,212		—		—		514,021
Depreciation and amortization	72,216		38,176		7,512		53		4,123		—		122,080
Loss on disposal of operating assets	127		2		—		1		—		—		130
Corporate expenses	—		—		—		—		28,312		—		28,312
Operating income (loss)	$	(161,131)	$	(15,860)	$	38,226	$	(1,470)	$	(32,435)	$	—	$	(172,670)
Intersegment revenue	$	1,233	$	1,801	$	—	$	—	$	—	$	(3,034)	$	—
Capital expenditures	$	48,871	$	22,167	$	1,292	$	—	$	3,442	$	—	$	75,772
Three Months Ended March 31, 2019
Revenue	$	1,318,117	$	337,642	$	75,078	$	791	$	—	$	(3,800)	$	1,727,828
Direct operating expenses	1,030,269		111,749		13,386		—		—		(3,800)		1,151,604
Selling, general and administrative expenses	295,765		145,890		22,437		774		—		—		464,866
Depreciation and amortization	51,361		37,390		7,074		121		2,966		—		98,912
Gain on disposal of operating assets	(145)		(2)		—		—		—		—		(147)
Corporate expenses	—		—		—		—		36,456		—		36,456
Operating income (loss)	$	(59,133)	$	42,615	$	32,181	$	(104)	$	(39,422)	$	—	$	(23,863)
Intersegment revenue	$	809	$	2,991	$	—	$	—	$	—	$	(3,800)	$	—
Capital expenditures	$	33,593	$	23,655	$	1,185	$	—	$	4,333	$	—	$	62,766