Live Nation Presentation

INVESTOR & ANALYST DAY
JULY 15, 2010

Forward Looking Statements
Certain statements in this presentation may constitute “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995. We wish to caution you that
there are some known and unknown factors that could cause actual results to differ materially
from any future results, performance or achievements expressed or implied by such forward-
looking statements, including but not limited to operational challenges in achieving strategic
objectives and executing on our plans, the risk that our markets do not evolve as anticipated,
the potential impact of any general economic slowdown, competition in the industry and
challenges associated with the integration of Live Nation and Ticketmaster.
We refer you to the documents that we file from time to time with the SEC, specifically the
section titled “Risk Factors” of our most recent Annual Report filed on Form 10-K and Quarterly
Reports on Form 10-Q, which contain and identify other important factors that could cause
actual results to differ materially from those contained in our projections or forward-looking
statements. You are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this presentation. All subsequent written and
oral forward-looking statements by or concerning Live Nation Entertainment are expressly
qualified in their entirety by the cautionary statements above. We do not undertake any
obligation to publicly update or revise any forward-looking statements because of new
information, future events or otherwise.
2
LIVE NATION ENTERTAINMENT
OPPORTUNITY
JULY 15, 2010
KEY METRICS
Market Share
Ticketmaster Down (11%)
Per Head Spend
Live Nation Down (4%)
Sponsorship
Fixed Down
Ticket Sales
“AA”
International Festivals
Under 5000
4
DO YOU REMEMBER YOUR FIRST CONCERT?
5
WE’RE SELLING A POWERFUL, EMOTIONAL
SOCIAL EXPERIENCE
A captivating moment in life, where fans can...

Drop Their Inhibitions…
Celebrate Their Lives...
Relive Their Past...
Feel Exhilarated…
…a Memorable Moment They Want to Live, Relive and Share with the
People They Care About Over and Over Again.
Source: 2009 Live Nation Hotspex Study 6
…AND IT’S A UNIVERSAL GLOBAL NEED…
CONCERTS ARE CONSUMED IN EVERY CORNER OF THE GLOBE –

LNE CURRENTLY OPERATES IN 28 MARKETS AND COUNTING
7
…AND AN INDUSTRY THAT HAS BEEN GROWING
FOR YEARS…
Concert Industry Ticket Sales
$5.0
$4.6
$4.2
$3.9
$4.0
$3.6
R +8%
C AG
$3.1
Industry Revenue ($Billions)
$2.8
$3.0
$2.5
$2.1
$1.8
$1.7
$2.0
$1.5
$1.4
$1.3
$1.3
$1.1
$1.1
$1.0
$1.0
$0.9
$0.8
$1.0
$0.0
90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09
Source: Pollstar 2009 Year End Business Analysis Report

8
Note: All Pollstar figures are estimates for major concerts tickets sold in North America.
…AND LIVE NATION ENTERTAINMENT HAS
GROWN WITH IT
LNE Combined Gross Revenue

LNE 2003-2009
$B CAGR +11%
$6.0 $5.5 $5.5

$4.9
$5.0 $1.4 $1.3
$4.3
$1.2
$4.0 $3.4 $1.1
$4.1 $4.2
$3.0 $3.1
$3.6
$3.0 $0.9
$0.7 $3.2
$0.7
$2.0 $2.4 $2.5
$2.3
$1.0
$0.0
2003 2004 2005 2006 2007 2008 2009 2010B
Live Nation Ticketmaster
Source: Live Nation – Historical 10K and 2010 Budget

Note: Live Nation – 2010 and 2009 reported at 09 FX rates. Includes Ticketmaster merger impacts. Excludes Front Line above.
9
WHAT DOES THE FUTURE HOLD – YEARS OF
GROWTH
$8.0
$7.0
$6.0
$4.6
Industry Revenue ($ Billions)
$5.0
$4.2
$3.9
$3.6
$4.0
$3.1
$2.8
$2.5
$3.0
$2.1
$1.8
$1.7
$1.5
$2.0
$1.4
$1.3
$1.3
$1.1
$1.1
$1.0
$1.0
$0.9
$0.8
$1.0
$0.0
90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15
Source: 1990-2009 – Pollstar 2009 Year End Business Analysis Report. 10

IT WILL GROW BECAUSE…
► More Markets and Venues are Opening Up to

Play Around the Globe
► More Tickets are Sold as Technology

Empowers Marketing, Discovery, Access and
Conversion
► More Bands are On the Road
11
MORE MARKETS
U.S. / UK Business Global Business
1980 2000 2010 2010+
30 70 113 210
 USA - 20  USA - 30  USA - 45  USA - 60
 Canada - 3  Canada - 7  Canada - 10  Canada - 15

Number of Viable  UK - 5  Western Europe - 25  Western Europe - 30  Western Europe - 45
Markets on
Annual Basis /  Germany - 2  Pacific Rim - 5  Eastern Europe - 10  Eastern Europe - 25
International Artists  Latin America - 3  Pacific Rim - 10  Pacific Rim - 20
 Latin America - 5  Latin America - 10
 Middle East - 2  Middle East - 10
 Africa - 1  Asia - 20
 Africa - 5
UNTIL 2000, THE BUSINESS WAS CONCENTRATED IN

NORTH AMERICA, UK AND GERMANY
12
MORE MARKETS HAVE DRIVEN LNE GROWTH
Outside North America AOI
Live Nation 0% 5% 53% 65%
Ticketmaster 0% 21% 14% 40%
Live Nation Entertainment 0% 7% 29% 50%
1990 2000 2010 2010+
13
TECHNOLOGY WILL ENABLE US TO SELL MORE
TICKETS BECAUSE WE CAN IDENTIFY OUR
KEY CUSTOMERS
196.9MM U.S. Population U.S. Concert
18 to 64 Years Old Admissions
Concert 27%
Attendee
21% ANNUAL TICKETS 33MM
CONCERT-GOERS
PER CONCERT-GOER
42 Million 2.9
Non-Concert
Admissions:
Attendee
79% 2009 Tickets Sold
196MM U.S. Population 121MM
18 to 64 Years Old
1 Concert
37%
18.0 Avg. Concerts 10+ Concerts

7%
5-9 Concerts
9%
2-4 Concerts 2.7 Avg. Concerts
6.0 Avg. Concerts
47%
Source: 2009 Live Nation Concert Attendance Study, n=5,511; U.S. Census
Note: Concert is defined as a live music event in a Bar, Club, Theater,
Amphitheater, Arena, Stadium, Major Festival and/or Local Street Festivals that
requires paid admission.
14
TECHNOLOGY WILL SELL MORE TICKETS
BECAUSE WE CAN DIRECTLY COMMUNICATE
WITH FANS
% of People Who Would

Have Attended a Show but Where Fans Hear
Didn’t Know About It About Shows
Friends/
Missed
Family
Show
31% Online/ 29%
Email
53%
Did Not Miss
Show
Print
69% Radio 2%
13%
TV
3%
Source: “% of People Who Would Have Attended a Show but Didn’t Know About It” – 2009 Live Nation Post Show Survey, n=216,900; “Where Fans Hear About
Shows” – 2009 Live Nation In-Venue Study, n=7,007 (Q: How did you hear about this concert?)
Note: Concert is defined as a live music event in a Bar, Club, Theater, Amphitheater, Arena, Stadium, Major Festival and/or Local Street Festivals that requires
paid admission.
15
MORE BANDS ARE ON THE ROAD
16,000 2,500
14,000
2000-2007
Concerts – 17% CAGR 2,000
12,000
Bands – 16% CAGR
10,000
1,500
# of Concerts
# of Bands
8,000
1,000
6,000
4,000
500
2,000
- -
93
94
95
96
97
98
99
00
01
02
03
04
05
06
07
19
19
19
19
19
19
19
20
20
20
20
20
20
20
20
Total Concerts (LHS) Total Bands (RHS)
Source: Goldman Sachs Research Estimates 16

MORE BANDS ARE ON THE ROAD FASTER NOW
Old Model New Model
nt h s
3 Mo
2 – 5 Years
Write Get Make Play Make Play Make Sell Post Sign Sell
Song Label Album Clubs Video Theater Another Out Song/Video Promoter Out
Album Arena Online Deal Arena
17
MORE BANDS ARE ON THE ROAD BECAUSE
IT’S WHERE THE MONEY IS
Top Earning Musical Acts of 2009
$0 $20 $40 $60 $80 $100 $120 $140
U2
Bruce Springsteen
Britney Spears
Elton John/Billy Joel
AC/DC
Taylor Swift
Kenny Chesney
Jonas Brothers
Dave Matthews Band
Album Sales (in millions) Tour Gross (in millions)
50-90% ANNUAL ARTIST REVENUE
Source: Pollstar; Los Angeles Times 18

GLOBALIZATION WILL INCREASE
LNE’S MARKET OPPORTUNITY
AND GROWTH
19
► #1 E-Commerce Site in the Music Industry and #3 in the World
► #1 Concert Promoter in the World
► #1 Ticket Provider in the World
► #1 Management Company in the World
► #1 Music Sponsorship Company in the World
► #1 Music Brand in the World
DIRECT TRANSACTIONS WITH 400MM FANS WORLDWIDE…
THE WORLD’S LARGEST SOCIAL MUSIC NETWORK
20
LNE HAS THREE LEADING GLOBAL MUSIC
BRANDS
Very Familiar Somewhat Familiar Not Very Familiar Not At All Familiar/Unaware
40% 29% 14% 17%

22% 27% 18% 33%
22% 22% 21% 35%
20% 24% 20% 36%
19% 26% 20% 35%
16% 22% 20% 42%
15% 25% 18% 42%
15% 25% 20% 40%
14% 16% 17% 53%
13% 16% 20% 40%
10% 19% 20% 51%
10% 12% 17% 61%
8% 6% 13% 73%
4% 7% 14% 73%
5% 8% 14% 73%
5% 7% 13% 75%
4% 6% 12% 78%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Q.I How familiar are you with the following brands for obtaining information about live events (such as concerts, theater, comedy events)
that are coming to venues in your city?.
Mar 2008 n=4,668; April 2009 n=6,090; May 2010 n=1,817
21
BUSINESS MODEL = 4 LEVER EVENT MODEL
E-Commerce/ Onsite Ancillary =

Ticketing = 18%
57%
 Tickets  Attendance
 Clients  Markets/Venues
 Products  Events
 Royalty Costs
Event /
Concert
Management = Sponsorship =
9%  Tickets 16%
 Talent Costs
 Marketing Costs
 Clients  Fans
28 Markets = LNE Profit  Online Traffic
Note: Figures based on 2009 Adjusted Operating Income (AOI). 22

WHERE WILL GROWTH COME FROM?
E-Commerce Revenue Live Ancillary
Ticketing Sponsorship 75 Global Markets
Event
Management Online Advertising
Note: Figures based on 2009 Revenue. 23

OUR COMPETITIVE ADVANTAGE
E-Commerce Concerts
Revenue
Labels
Advertising
LNE IS THE ONLY MUSIC COMPANY TO COMBINE CONTENT,

E-COMMERCE AND ADVERTISING
24
LNE STRATEGY
1. Replicate 4 Lever Event Model in International Markets or

Complete Levers in Current Markets Underserved
2. Build the World’s Leading Music Database/CRM Skill Set to Drive

Purchase Transaction and Sponsorship CPM
3. Sell More Tickets Through More Effective Pricing and Marketing,

Driven by CRM, Lower Talent Fees
4. Grow Sponsorship by Leveraging LNE Fan CPM
5. Stop Decline at Ticketmaster and Redefine its Growth Potential
25
BIG GOALS
150 Markets
28 Markets
2007 2008 2009 2010
26
HOW ARE WE ORGANIZED
Board of Directors
Live Nation Entertainment Live Nation Entertainment

CEO/President Strategy Executive Chairman
M. Rapino I. Azoff
Corporate Functions
Sponsorship Ticketing E-Commerce Concerts Artist Nation
27
FINANCIAL UPDATE
July 15, 2010
The combined company has a strong revenue history
$MM 2003 – 2009

LNE CAGR = +11.0%
$7,000
Revenue $5,667
$6,000 $5,540
$4,875
$5,000
$4,264 $4,181
$4,085
$3,635
$4,000 $3,416
$3,145 $3,201
$3,026
$3,000 $2,487
$2,397
$2,302
$2,000 $1,409
$1,240 $1,294
$929 $1,063
$724 $748
$1,000
$46 $192
$0
2003 2004 2005 2006 2007 2008 2009
Live Nation Ticketmaster Frontline LNE
Source: Historical financials 10-K. 29

Note: Frontline acquisition of controlling interest as of Oct. 29, 2008. Includes pre-merger TM Revenue for historical comparisons.
With fixed cost in line with revenue growth
2003 – 2009
- House of Blues
LNE CAGR = +11.5%
$MM - Merchandise companies
- International Acquisitions
- TicketsNow
- Paciolan
$1,400
Fixed Costs $1,147
$1,200 $1,109
$1,000 $904
$800 $719
$637 $659
$597 $625
$586 $571
$600
$461 $464 $435
$404 $387 $391
$333
$400
$258
$193 $199 $234
$200
$53
$8
$0
2003 2004 2005 2006 2007 2008 2009

Note: Frontline acquisition of controlling interest as of Oct. 29, 2008. Includes pre-merger TM Fixed Costs for historical comparisons.
And a growing adjusted operating income
$MM 2003 – 2009

LNE CAGR = +7.0%
$500
$445
AOI $398
$415 $407
$400 $352
$295 $295 $294

$281
$300
$249 $241
$224
$191
$200 $171
$149 $165
$121
$124 $103 $103
$90
$100 $56
$17
$0
2003 2004 2005 2006 2007 2008 2009

Note: Frontline acquisition of controlling interest as of Oct. 29, 2008. Includes pre-merger TM AOI for historical comparisons.
Our AOI has grown despite ticketing challenges
$415 $445
$MM $407
$97
$90 $96
$41
$40 $39
$229
$227
$283
$24 $64
$2
$110 $100
$78
($78) ($89) ($86)
2007 2008 2009

LNE Sponsorship E-Commerce Ticketing
Artist Nation Concerts Corporate / Other
Source: Historical financials 10-K and internal estimates.

Note: Frontline acquisition of controlling interest as of Oct. 29, 2008. Acquisition transaction expenses are excluded. 32
Merger impacts have been positive and meaningful
$MM
Purchase Accounting Synergy Savings

+$40mm +$40mm
Artist Nation Sponsorship
+$2mm +$1mm
Concerts
+$4mm
E-Commerce Global Ticketing

+$5mm +$16mm
Ticketing
+$40mm Corporate/Other
+$12mm
 Recharacterize/revalue Non-
Recoupable Contract Advances  Headcount Reductions
 Revalue Sports Contracts  Consulting & Contract Services declines
 Revalue/timing of Deferred Revenue  Combining employee benefit programs

 Procurement and Insurance savings
 Net Income increase is + $10M
Source: Live Nation internal estimates. 33

2010 Full Year AOI Walk
Paciolan
($MM) Divestiture
& AEG
New Deal
Sponsorship Ticketing
Synergy Growth
-$23mm
Savings +$9mm
+$40mm
-$43mm
One-Time
Costs Concerts
-$5mm
Purchase -$25mm
Accounting
Concerts:
Artist
Reserve
+$40mm -$13mm
U2 Tour
Delay
-$6mm
2009
Other/
Full Year Divestiture
-$14mm
2010
MERGER RELATED IMPACTS BUSINESS OPERATIONS Full Year
445 +$52mm ($92mm) Outlook

$
$ 405
Source: 2009 10-K, 2010 estimated.

Note: Acquisition transaction expenses are excluded. 2010 figures at constant currency. 34
Proforma comparison 2009 vs 2010
($MM)
2009 2009 2009

Full Year Proforma
Divestitures Pre-Merger
Period
$445 $409
<$20mm>
<$16mm>
2010 2010 2010

Full Year Comparable
Outlook
Pre-Merger
Period
$405 $400
<$5mm>
Source: 2009 10-K, Q1 2010 as reported, internal estimates. 35

Note: Acquisition transaction expenses are excluded in 2009 and 2010. 2010 figures at constant currency.
Ticket Sales Update
1
Industry: Top 100 Touring Act Ticket Sales (First Half of Year)
18.0
Down 12%
Potential additional
(MM)
decline in 2nd half
of year of 15%
15.9
2009 2010
LN Ticket Sales (First Half of Year) TM Ticket Sales (First Half of Year)
(excluding Stadiums)
61
24.4
Down 3% Down 11%
23.7
55
2009 2010 2009 2010

Last Half of Year Risk:
Artists not touring due to bad economic climate and Industry continues to trend down
1 Source: Pollstar 36
Down Case Scenario – 2010 Full Year AOI
($MM)
2010
Full Year
Outlook AOI
$405
Concerts:
Ticket Sales Risk for
Q3/Q4 (1mm tix)
<$25mm>
Ticketing:
Ticket Sales Risk for
Q3/Q4 (4mm tix)
<$15mm>
2010
Down Case
Scenario AOI
$365
Notes: 2010 figures at constant currency. 37

2010 impacts will carry over to 2011
+$20mm
Incremental
Synergies
+$6mm +$5mm
U2 Tour One-time
+
Costs
2011 AOI
-
Potential
AOI Impacts
from 2010 -$5mm
Reduced impact
from Purchase
-$12mm
Accounting AEG & Paciolan
Impact
38
Here is where we make our money…by Segment
AOI
$3,704
$MM
Margin
60%
Artist 49%
Management
44%
$1,261
Revenue
18% 14%
9% AOI
Without Gross
Ticket Revenue
Artist
Services 5%
$459
3%
NA: 2%
Int’l: 6% $162
$229 $94
$100 $97
$64 $41
Ticketing Concerts Sponsorship Artist E-Commerce

Nation
Source: 2009 financials 39
by Product Line…
REVENUE AOI
(Concert Promotion)
E-Commerce Other
Artist Mgmt/ 2% 2% E-Commerce
Services 8%
Artist Mgmt/
Sponsorship Services 8%
3%
Onsite 11%
9%
Sponsorship Ticketing
Concert 48%
15%
Ticketing Promotion
23% 53%
Onsite
18%

…and by Geography
REVENUE AOI
International International
27% 29%
North America North America

73% 71%

The 2nd and 3rd quarters generate most of our AOI
Live Nation Entertainment 3-Year Average Quarterly AOI Trend
44%
27%
21%
8%
Q1 Q2 Q3 Q4
Live Nation Entertainment 3-Year Quarterly AOI Trend
60%
45%
30%
15%
2007 2008 2009
0%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Almost half of our business is generated outside
the U.S.
$MM Hedging Strategy
Other* We hedge:
6% • Artist contracts where payment
CAD ($) currency ≠ ticket currency
10%
• A portion of AOI from foreign
locations
GBP (£)
14%
USD ($)
56%
EUR (€)
14%
* Includes NOK, SEK, AUD and other currencies. 43

Our combined free cash flow is growing
$MM
$500
AOI: $445
$9 AOI: $405
$400 $63 $7
$49
$81 $50
$300
$108 $105
$200
FREE
$100 $183 $194 CASH
FLOW
$0
2009 2010
Distributions to/from noncontrolling Interest Partners
Maintenance CapEx
Cash Taxes
Cash Interest Expense
Free Cash Flow
Source: Live Nation Entertainment internal calculation, adjusted for discontinued operations. 44
Notes: 2010 figures at constant currency
Our CAPEX base has been consistent
$MM Large Projects 2007 Large Projects 2008

O2 Dublin (The Point) O2 Dublin - Completion
Venue Networking HOB Boston/Houston
HOB Dallas AMG Venues
Reading Festival Site Ticket System Build
Palladium (Hollywood)
$300
$250 $238
$182
$200
$164
$150 $88
$119 $101 $97 $100

$100
$56 $50
$50
$76
$56 $50
$41
$0
2007 2008 2009 2010B
Maintenance Revenue Generating Normalized without Large Projects
Source: Historical financials 10-K, 2010B estimated. Ticketmaster Maintenance / New Revenue split based on internal calculations. 45
Notes: 2010 figures at constant currency.
Revenue Generating CAPEX enhances
$MM
System / Web Development
Target Hurdle Rate = 12.5%
• Venue Management Tools
• Mobile Application Development
2010 FY
Budget • Event Management System Upgrades
• Online Customer Enhancement
• 3D Seat Map Development
$ 50mm
Ticketing: New Venues / Outlets
10% • Ticketing Outlet Center expansions
• Infrastructure for New Client Venues
• Preparation for 2012 Olympics
55% 35%
Refurbished Venues
• Venue Renovation and Build-out
• Concessions Upgrades & Conversions
• Stage Improvements
• VIP Area Upgrades
• Sponsorship Enhancements

Maintenance CAPEX protects and replaces
$MM
• Roof, Lawn & Concessions

replacement
• A/V upgrades
50% Venue Improvements • Stage Buildout
• Furniture & Equipment
• Office Lease Improvements
2010 FY
Budget • Computers, laptops, printers,
servers & data warehouses
$ 50mm 40% Systems / IT • Financial & Other IT system
improvements
• Business Intelligence Tools
• HVAC
Health & • Fire Alarm & Emergency
10% Safety Lighting
• Security & Camera Systems
• Facility Upgrades

We expect total CAPEX to remain at these levels
Future Revenue Generating Projects:
$MM
 Online Shopping Cart
 Database Investment
 Dynamic Pricing
$120
 Ticketing System improvements
$100 $100
$80 $50
$60
$40 $50
$20
$0
2010B 2011 (est.) 2012 (est.)
Maintenance New Revenue

Our current Capital Structure has improved
Spread /
1
$MM May 31, 2010 AOI Multiple Maturity Coupon
Free Cash 262
Revolving Credit Facility ($300mm capacity) ― 5/6/15 L + 300

Term Loan A 100 11/6/15 L + 300
2
Term Loan B 800 11/6/16 L + 300
Total Bank Debt $900 2.2x
New Senior Unsecured Notes 250 5/15/18 8.125%

3
Existing TM Senior Notes 312 7/28/16 10.75%
Total Guaranteed Debt $562 1.4x
4
Convertible Senior Notes 170 7/15/14 2.875%
Other Debt 100
Capital Leases 11
Total Debt $1,743 4.3x
Noncontrolling Interests and Other 216
Market Value of Equity ($10.98/share @ 7/8/10) 1,898
Total Enterprise Value $3,594 8.9x

1
Based on 2010 Adjusted Operating Income (Forecast) of $405MM
2
LIBOR Floor @ 1.50%
3
Existing TM Senior Notes: $300MM notional amount
4
Convertible Senior Notes: $220MM notional amount
− Revolver Undrawn at Closing; Over $500MM in Liquidity and Building Cash

− LIBOR Floor on Term B Loan @ 150 bps – Built in Hedge on Rate Movement
49
The refinancing simplified our operations …
Old Capital Structure New Capital Structure
1) 2 separate silos; no comingling of funds 1) Single borrower

2) 6 separate covenants 2) 2 covenants
3) First maturity: December 2011 3) First significant maturity: July 2014
4) 2 federal tax filers 4) 1 tax filer
5) 2 sets of audited financial statements 5) 1 audited financial statement
6) WACD = 6.8% (as of March 31, 2010) 6) WACD = 6% (as of June 30, 2010)
Operationally Difficult, Simple, Flexible, Substantial New

Expensive, Short Lead Time to Liquidity, +$15MM in Free Cash
Maturities Flow Benefits
$MM Covenant
Total Debt / AOI Ratio 4.90X
New Covenants Interest Coverage Ratio 2.50X
50
Added cash to the balance sheet…
$MM
Sources Uses
New Revolver ($300MM Capacity) Repay Existing Facilities
Committed Amount $300 Repay Revolvers $200
Drawn Amount $0 Repay Term Loans 773
Total $973
New Term Loan A $100
LN Preferred Stock
New Term Loan B $800 Principal Payment $40
Make Whole 8
New 8.125% Senior Unsecured Notes $250 Total $48
Fees and Accrued Interest $33
Cash to Balance Sheet $96
Total Sources $1,150 Total Uses $1,150
Amount ($MM) Pricing LIBOR Floor
New Revolver Capacity $300 L + 300 bps None

New Term Loan A $100 L + 300 bps None
New Term Loan B $800 L + 300 bps 1.50%
New Senior Unsecured Notes $250 8.125% --
We have hedged the Term Loan A with a cap of 4% on LIBOR
Recorded $20M of debt extinguishment costs (non-cash) in 2010 due to refinancing
51
…and reduced interest expense
$MM
$130
$160 $120
Future impacts –
$140
• LIBOR increases
$120 • Debt paydowns
$100 • Use of revolver for

accretive acquisitions
$108 $105
$80
$60
$40
$20 P&L
Cash
$0
2009 2010 2011
Source: 2009 P&L Interest from TM and LN 10-K; 2010 P&L Interest estimated. Cash Interest from Free Cash Flow adjusted for Discontinued Operations. 52
The Merger reduced cash taxes
$MM
$90 $81
$80
• 2010 Effective Tax
$70 rate on taxable
ordinary income of
$60 $50 20%
$50 • 2010 includes the
U.S.: 40%
$40 Int’l: 60%
impact of the merger
& refinancing
$30
$20
$30 $30
Cash
$10
P&L
$0
2009 2010 2011
Source: 2009 P&L Taxes from TM and LN 10-K; 2010 P&L Taxes estimated. Cash Taxes from Free Cash Flow adjusted for Discontinued Operations. 53
And will continue to impact taxes in the future
$MM
Gross Value of • Annual limit of $40mm

Net Operating (accumulates)
Losses $270MM
• No expirations until 2016
(2009)
• Last expiration 2026
Valuation $192MM • Will reverse to income

Allowance statement as earnings improve
(Value at 2009) (future tax benefit)
CURRENT STATUS:
Increasing • Not a federal tax payer in the US except on Front Line
Profitability • Pay taxes in most other countries
• Pay taxes in many states

CONCERTS
JULY 15, 2010

BUSINESS MODEL = 4 LEVEL EVENT MODEL

Ticketing = 18%
57%
 Royalty Costs
Event /
Concert
9% 16%
 Tickets
 Talent Costs
 Marketing Costs
56
HOW WE MAKE OUR MONEY
21.7k 52.1M
Events attendees
Gross Revenue
$3,704M
Tix Rev = $2,728M
101% (1%) 100%

Artist and Show Costs Promoter Profit Ancillary CM
$2,757M $627M
$(29)M
Fixed Costs
$(498)M
Global Concerts $100M
57
ANATOMY OF A CONCERT TICKET
Anatomy of a Concert Ticket Price
Avg Face Value $55.65

Tax - approx 5% $2.65
Net Gross $53.00
Service Fees $14.00
Show Costs Avg 30% $16.00
Talent Fees Avg 65% to 90% $34 to $47
Promoter Profit $3 to ($10)
58
GLOBAL CONCERTS: KEY METRICS
Attendance in ‘000’s
Revenue in $m’s
North America Concerts

2009 2010 Est. Var % Var
Attendance 28,047 27,205 (842) -3%
Show Count 9,376 9,095 (281) -3%
Ticket Sales Rev $1,349.6 $1,354.8 $5.2 0%
Avg Tix Price $48.1 $49.8 $1.7 3%
Talent % 75% 74% 1% 1%
International Concerts
2009 2010 Est. Var % Var
Attendance (ex stadiums) 9,692 9,143 (549) -6%
Attendance Stadiums 1,956 994 (962) -49%
Show Count (ex stadiums) 4,251 3,263 (988) -23%
Show Count Stadiums 49 33 (16) -33%
Ticket Sales Rev $743.8 $653.6 ($90.2) -12%
Avg Tix Price $58.2 $54.3 ($3.9) -7%
Talent % 56% 55% 1% 2%
Attendance and Show count is for promoted events only and does not include
rentals of 8k in 2009 and 9k in 2010
59
CONCERT METRIC: MID YEAR vs. INDUSTRY
Industry down 17% LN down 9% Industry down 12% LN down 4%
LN Est Mid Year Gross LN Est Mid Year Tix
16,495k
$902m
15,792k
$822m
2009 2010 Estimate 2009 2010 Estimate
Industry down 9% Industry down 14%

LN down 3% LN up 2%
LN Est Mid Year Avg Gross LN Est Mid Year Avg Tix
2686
$143k 2621
$140k
2009 2010 Estimate
2009 2010 Estimate
60
CONCERT METRIC: EVENT COUNT
30,000
22,167
20,000 21,699
21,226
16,747
13,386
10,000
10,877
0
2005 2006 2007 2008 2009 2010
Estimate
61
CONCERT METRIC: TICKET PRICES
$60.00 $58.17
$55.00 $52.89 $54.32

$50.02
$50.00 $48.29 $49.74
$45.71 $48.12
$48.21
NAC
$45.00
$45.79 INTL
$44.78
$40.00 $41.82
$35.00
$30.00
2005 2006 2007 2008 2009 2010
Estimate
62
CONCERT METRIC: TALENT COSTS
90%
77% 75% 74% 75% 74%
80% 74%
70%
56% 56% 55%
60% 52% 53% 51%
NAC
50%
INTL
40%
30%
20%
10%
0%
2005 2006 2007 2008 2009 2010
Estimate
63
CONCERT METRIC: ATTENDANCE
60,000
Attendance in ‘000’s
52,114
50,000 52,148
46,437
47,031
Additional
attendance
40,000 41,606 Risk
46,031
36,875
30,000
20,000
2005 2006 2007 2008 2009 2010
Estimate
64
CONCERT METRIC 2010: AMPH PROMOTIONS
TICKET SALES
2009 Final
9.6MM
10m 2009 2010
9m 2010 Trend (2.5%)

9.4MM
8m
2010 Industry Decline
7m Thru May 31 Trend (12%)
Tickets Sold
8.4MM
Tickets (8.2%) Gross (7.0%)
6m
Thru June 30
5m Tickets (2.5%) Gross (6.9%)
4m
3m
2m
1m
FEB MAR APR MAY JUN JUL AUG SEP
65
PRICE WILL DRIVE ATTENDANCE
June Promotion Drove Sales 4-Packs Drive New Sales $10 Lawn is Strongest Offer
Daily Tickets Sold Per Event 48% Incremental Ticket Rate Daily Tickets Sold for 10 Events
600,000 30,000
300
e 251 484K 25,000 24,075

eas 500,000 e
nc r
250
I as
% re
35 In c
400,000 %
200 187 48 20,000
e
327K
as
re
300,000 15,000
Inc
150
%
00
200,000 10,000
70
100
100,000 5,000
50
0 338
‐ ‐
"Standard" Tickets Total 4‐Pack Tickets Pre‐Offer Daily Average $10 Offer Day
May June
Per Order
66
CONCERT METRIC 2010: PERCENTAGE OF
TICKETS DISCOUNTED
Tickets in ‘000’s
2009 2010 FY Estimated

Total Tickets 42,895 41,024
Total Discounted 2,681 4,195
% Discounted 6% 10%
67
CONCERT METRIC 2010: CANCELED SHOWS
2009A 2010 Estimate

Total 13,767 12,391
Cancelled Events 220 177
Percentage 2% 1%
68
HOW WE MAKE OUR MONEY ON ANCILLARY
$627M
Rentals/Venue
Rebates/Other
F&B
$126m
$223m
20%
36%
Premium Seating
$46m, 7%
Agency
$12m, 2%
Parking
$44m, 7%
Merch
$26m
Ticket Fees 4%
$150m
24%
69
ANCILLARY METRIC: F&B PER CAP (GROSS)
$18.00 $17.48
$17.37
$17.00
$16.59
$16.00
$15.00
$14.04
NAC AMP
$14.00
+8.5% INTL FESTIVAL
$13.00 Avg Industry Growth
$12.85 $12.94
$12.00 +2.2%
$11.00
$10.00
2008 2009 2010 Estimate
Industry includes MLB, NFL, NHL, NBA, Disney, Cinemark and Regal Ent
70
2010 Full Year AOI Walk
($MM)
INTL Reduction INTL

In Fixed Cost Stadium
And
+$9mm Arena
Volume
NA Amp
-$20mm
NA Amp On Site and Arena
INTL Festivals
increase Attendance
and Venues
+$10mm -$20mm
+$3mm
ARA
Impairment
-$13mm
NA Legal
-$5mm
2010
2009 Full Year
Full Year Outlook
$ 64
Concerts
Ticket
Sales Risk
$ 100 <$25mm>
BUSINESS OPERATIONS
($23mm) 2010
With Risk
$ 39
71
HOW WE GROW
1. Expand Global Platform to Top 75 markets

-Exit low performing markets
2. Reduce NA Show Count and Fixed
3. Sell More Tickets
4. Grow HOB to Artist Discovery Brand
72
1. EXPAND GLOBAL PLATFORM TO TOP 75
MARKETS
Gross Box Office Opportunity
Competitors
LN
Existing Markets New Markets
800
1500 10 0 %
1400
700
Estimated GBO ($M)
600
500
400
300
10 0 % 88%
200
99%
100 99%
10 0 % 10 0 % 10 0 %
82% 10 0 %
12 % 1% 1% 18 % 10 0 % 10 0 % 10 0 %
-
Russia
Austria
South
Las Vegas
Australia
Japan (Int'l)
France
Korea
Germany
America
Ireland
Mexico
Montreal
Switzerland
South
(Int'l)
10 0 %
IFPI Rank 4 7 5 8 18 NA 12 14 24 2 NA 15 19
73
2. REDUCE FIXED IN NA
Shows Markets
20% 20%
80%of AOI 80% of AOI
2010 Fixed per show: $35k 2010 Fixed per market: $1.6m
74
3. SELL MORE TICKETS
All-In Pricing Promotion
+146%
Ticket A Sales Volume = Ticket B Sales Volume
• 72% of fans prefer single face price

• one-price ticket = est 3.3% sales lift
Pricing Partners/Marketing/Database
Current Pricing Scale Max Revenue Scale
3 PL Seats % Sold Price 10 PL % Sold Price
VIP 100% $280
1 80% $150
1 2,723 92% $114 2 79% $139
3 79% $129
4 78% $104
5 89% $76
2 5,667 63% $77 6 84% $66
7 75% $52
8 65% $36
3 4,811 26% $55
9 59% $29
Lawn 5,650 81% $31 Lawn 90% $28
$77 (R) $53 (R)
Total 18,851 63% Total 79%
$31 (L) $28 (L)
• 10 price scale = +25% tix sales & est. +9% rev
75
4. GROW HOB TO ARTIST DISCOVERY BRAND
Industry Club Business Club Artist Population Growing
9,000
8,179
Industry Live Nation 8,000
8,127
Venues 2656 36 O/O Venues 7,000
(401 Promo Venues) 6,000
Tickets 40,584,305 7,108,032 5,238

5,000
Shows 40,728 6221 4,000
3,000
Live Nation excludes 3 O/O Comedy Clubs 2,000
Industry includes Live Nation 920

1,065
1,000
Live Nation Tickets equals attendance 631
-
2007 Industry 2007 2008 Industry 2008 2009 Industry 2009
Live Nation and HOB rank #3 for concert Fragmented Music Discovery Sites
information amongst peers.
8 88%
7 65%
6 54%
5 41%
4 38%
3 34%
2 24%
1 23%
0% 20% 40% 60% 80% 100%
76
TICKETING
July 15, 2010

Ticketing = 18%
57%
 Royalty Costs
Event /
Concert
9%  Tickets 16%
 Talent Costs
 Marketing Costs
 Online Traffic
Note: Figures based on Adjusted Operating Income. 78

TM growth has historically outperformed the
worldwide market
Primary Ticket Market Size (Global)

CAGR
(2005-2009)
94.4 96.1 Global 3.3%

89.0 91.7
84.4
$B
Ticketmaster 6.5%
Note: Primary ticket sales including movies, concerts, sports and arts; does not include service fees 79
Source: Goldman Sachs, MPAA, Pollstar, BEA, US Census
TM ticket sales down in 2010 driven by industry ticket
decline
Ticket Sales
200+
6.2%
55
(11.0)%
61 55
(5/31)
Full year data on date of transaction, including all LNE tickets 80

All segments decline in 2010
YTD (5/31) Global Ticket Sales

By Event Type
(2009 vs. 2010)
Change
M %
61
55 Total (6.8) (11%)
Other (0.2) (11)%
Family 0.1 1%
Arts (1.3) (14%)
Tickets
(M) Sports (0.6) (5%)
Concerts (4.8) (14%)
Includes all LNE tickets 81

TM client base has grown 5% historically
Client Count
CAGR
(2005-2010)
12.3 5.1%
11.9 11.7
11.3
9.6 9.1
K of
Clients
North America (5/31)

International
82
TM continues to maintain strong renewal rates
above 95% in North America
Renewals (1) N.A. YTD (5/31/2010) (2)
► 1.2M tickets won
► 5.0M tickets renewed
► 0.2M tickets lost

% Tickets Renewed
Int. YTD (5/31/2010)
► 1.5M tickets won
► 1.9M tickets renewed
► 0.2M tickets lost
North America (5/31)

International
Note: (1) Includes all LNE tickets

83
(2) For multi-year clients with over 5,000 tickets per year
Variable costs have increased faster than
service fees
Global Revenue and Variable Costs

(per ticket)
CAGR
(2006-2009)
$7.84 $7.96 Fees 2.3%

$7.63
$7.28 Gross Margin (0.7%)
(on Fees)
Variable Costs 4.9%
2008 and 2009 are pro-forma for LNT 84

League deals have driven high increase in
secondary fixed expenses
Secondary Segment AOI

($M)
Ticket Total
TicketsNow League Deals Exchange Secondary
2007 $11 Addition of TM

- ($1) $10
traffic
Signed NHL and NFL
2008 $17 ($15) league deals ($5) ($3)
Elimination of TM
links and affiliates
2009 ($3) ($15) ($1) ($19)

No presales; decline
in non-paid search
2010f ($8) traffic ($14) ($1) ($23)
2011e ($6) ($14) $0 ($20)
2012e ($6) ($12) NHL agreement

ends 6/2012 $0 ($18)
2013e ($6) ($2) NFL agreement ends

in 2/2013 $0 ($8)
Before impact of purchase accounting; 2010 and after are management estimates 85
Global AOI has declined as fixed and variable
outpace revenue
Ticketing Financials
(Global) CAGR
1,360 (2005-2009)
1,261 Revenue 9.3%
1,189
1,011
884 Variable 9.3%
$M
Other Fixed 12.5%
Resale Fixed 263%
AOI -0.4%
AOI Margin 26% 27% 24% 17% 18%
Full year financials, includes LNT 86

The largest impact on AOI has been volume and
pricing
$M
$216 Additional
$15M risk
Full year financials 87

How we will grow:
1. Reorganize North American business around 5 new segments
2. Bring down ticketing fees and get paid on all tickets by

implementing new client pricing
3. Extract secondary margin without operating risk
4. Move International tickets online to gain efficiencies
5. Expand into International and new North American segments
88
Reorg North America around five client segments
to solidify current business and reduce fixed costs
% of AOI Critical Needs Competitors
• Marketing & Distributing

• Veritix
Multi-Purpose 47% • High volume onsales • Tickets.com
• New Era
• Content
• Deliver segment
• Veritix
focused analytics
• Season Tickets / CRM
NBA / NHL 14% • Tickets.com and products
• White label • New Era
• Season Tickets • Veritix

Stadiums and
14% • Tickets.com • Align staff
Outdoor Sports • Marketing & Distribution • Paciolan incentives
• Paciolan
• Tessitura
Arts / Theater 14% • Donation Management
• AudienceView
• Marketing & Distribution • JumpTV • Eliminate $20M in
annualized fixed
Club / Small • eTix
costs
Venues
10% • Marketing & Distribution
• TicketFly
• Self service
89
Reduce overall ticketing fee and get paid on all
tickets
Global Fees/Ticket
Global Tickets
(2009)
Non-Fee Bearing Tickets

250M
Fee Bearing 64%
Tickets
140M
36%
TM does not get fees on ~2/3 of We could reduce fees by 64% if

tickets processed on its systems clients charged fees on all tickets
►Box office tickets
►Season / group sales
►Tickets allocated to other ticketers (International)
90
Enter new segments: within the U.S. alone there are
9 clearly defined segments; TM is only currently in 5
Primary Ticket Market Size Tickets by Segment

(Global) (U.S.)
$96B 5.0B
ROW
$B
U.S.
Note: Primary ticket sales including movies, concerts, sports and arts; does not include service fees 91
Source: Goldman Sachs, MPAA, Polstar, BEA, U.S. NAICS Census Data, IES, ESPN.com
Where we make our money:
Global AOI (2009)
U.K.
16%
North America
68.4% Ireland
5.8%
Australia
3.3%
Norway
2.3%
Sweden
Denmark 1.9%
1.9%
92
Enter new geographic markets to expand our
footprint
Expansion Opportunities
Millions of Tickets
TM Current Markets
TM Target Markets
► Ticketmaster in 12 international markets

► Only covers 37% of European population
Competitors
► 124M untapped tickets in 6 European TM
markets
93
Move international tickets on-line and to our
sites
Migrate Processed to Retail Migrate Phone and Outlet to Internet
Target
Phone
14%
11%
10M tix
Outlet
Processed
22%
25% Retail Internet
19M tix 61% 67%
45M tix
► $15M opportunity from selling more of current ► $1M opportunity for every 2% gain in internet share
tickets through our retail channels
94
Secondary: Capture the secondary market
without direct participation
► Traffic/referral fees
► Barcode verification
► Ticket Exchange $50M AOI

► Dynamic pricing opportunity without
► VIP ticket sales
operational risk
► Discount site partners
95
Core challenges / opportunities + 250M tickets
Challenges Opportunities
► Reduce fixed costs ► Get paid on 250M tickets
► Expand technology ► Reduce ticketing fee to

platform to service drive value
segments as lowest cost
provider ► International Expansion
► Reduce TicketsNow / ► Expand into new ticket

league costs segments
► Improve international
efficiency by moving
tickets online
► Capture secondary market
96
eCOMMERCE
July 15, 2010

Ticketing = 18%
57%
 Royalty Costs
Event /
Concert
9%  Tickets 16%
 Talent Costs
 Marketing Costs
Note: Figures based on Adjusted Operating Income. 98

#1 Ticketing and #3 eCommerce site in the world
Top 10 Internet – E-Tailers (1) – Transaction Revenue
Rank Site Revenues ($000)
1 24,510,000
2 9,800,000
3 6,525,000
4 4,530,000
5 4,250,000
6 4,100,000
7 3,500,000
8 2,775,358
9 2,774,237
10 2,470,116
Note: (1) E-Tailers excludes travel and customer-to-customer exchanges 99

LNE sites generate over $6B in sales annually
eCommerce Revenue Bridge

(2009)
$M
Gross Face Value C&P Sponsorship Revenue eCommerce

Ticket and Revenue Advertising To Revenue
Sales Facility & Ticketing &
Fees Other Rev. Sponsorship
Note: Represents 12 months ended 12/31/09 100

Ticketmaster online sales have paced growth of
the eCommerce market
eCommerce Market Size (Global)

CAGR
(2002-2009)
eCommerce Global Sales TM Global Online Sales
eCommerce 18.2%
Ticketmaster 18.1%
$B
Note: Includes travel and retail eCommerce market 101

Source: e-Marketer Report, U.S. Department of Commerce, ComScore “State of the U.S. Online Retail Economy in Q1 2010”
Leading Database and Fan Touchpoints
Database Size Touchpoints

(Global)
►5.3B – Page Views
►2.6B – Marketing & Transac. Emails
►22.1M – Retail Outlet Impressions

Records
(M)
►21.4M – Sales & Service Phone Calls
►1.4M – Mobile, Survey, Kiosk
Total Records Opt-in E-Mail Mobile
As of Dec. 31, 2009; non-duplicated records 102

eCommerce Business Model
Business Model
(2009 Revenue)
Upsells
31% License Fees
(Non-Ticketing
products in cart)
37%
($0.50 / ticket)
Sponsorship Online
18% Advert.
(Online
components of
14%
(Ad sales, custom
sponsor. deals)
programs)
103
eCommerce Strategy
1. Improve Customer Experience = Conversion

• Improve Shopping Cart
• Interactive Seat Map
• Fan Interaction
• Fan Guarantee
• Eliminate PAH
• All-In Pricing
2. Drive revenue by adding products / upsell

3. Increase distribution
104
We have a large opportunity to improve customer
experience
Group Avg. 1 Concert 2-4 Concerts 5-9 Concerts 10+ Concerts
The service fees are too high 10.6 11.2 10.5 10.2 9.9
The final total cost is higher than I had budgeted 9.0 9.6 8.8 8.6 8.3
It's difficult to find the true total cost before buying 8.9 9.6 8.8 8.4 8.4
I can't pick my own seats 7.8 7.3 7.8 7.9 7.4
I am being rushed by a timer when buying tickets 7.4 7.6 7.2 7.5 6.3
I can't get the seats I expected 7.3 6.5 7.3 7.4 7.8
I am placed in an online waiting room to buy tickets 6.1 5.7 6.1 6.1 5.6
I have to pay extra for secure and express delivery 5.7 6.0 5.6 5.5 5.9
I can't reach customer service 5.3 5.5 5.7 5.4 4.8
I don't fully understand the service fees 4.7 4.9 4.7 4.7 4.7
I have to visit multiple websites to find the best tickets 4.0 3.9 4.1 4.5 3.9
I have to pay for my whole group in advance 3.4 3.3 3.5 3.5 3.0
I can't easily find the show on the ticketing website 3.2 3.1 3.2 3.3 3.6
I worry my tickets won't be delivered 3.1 3.3 3.0 3.3 3.3
I can't get confirmation from my friends quickly 2.8 2.7 2.8 2.6 3.4
My friends won't agree on price/seat location 2.8 2.6 2.8 2.5 3.1
It's inconvenient to buy at the box office, retail outlet or by phone 2.7 2.4 2.7 2.9 3.4
It's difficult to find info on a show 2.1 2.0 2.1 2.2 2.8
I don't really like the venue 1.7 1.5 1.7 2.0 2.0
It's difficult to find out if an artist is touring 1.6 1.5 1.6 1.8 2.6
*Results are based on a Conjoint Analysis

Statistically significantly different from average with 95% confidence.
Statistically significantly different from other segments with 95% confidence.
Note: Shade represents group composition and significance to other groups.
Q. Which of the following are the most and least frustrating to you when purchasing tickets?
Source: 2009 Live Nation Pain Points Study, n-2,348
105
Improve Customer Experience: Fan Guarantee
Launch July 2010
Additional Policies
(July 2010)
••Refund
Refund fees for canceled or
postponed events (1)
(1)
••Allow
Allow fans to refund tickets 3 days
after purchase for LN venues (2)(2)
(1) Does not include express shipping and in-store pick-up fees for retail outlet location.
106
(2) Up to 1 week before event date
Improve Customer Experience: 100% Refund
100% Refund on Cancelled

Shows
Current Cancellation E-mail

E-mail
Cancellation E-mail
E-mail
with Special Offer
► Opportunity to turn cancelled shows into new sales

107
Improve Customer Experience: Print-at-Home
Phase Out Print-at-Home Fees
TicketFast Delivery Option
No Charge
108
Improve Customer Experience: One Price
Today’s Fees
Today’s All-in Ticket Price
All-in
109
Improve Customer Experience: Shopping Cart
Current Cart Checkout
Integrated Cart Checkout
••Enables
Enables sale of music, merchandise and
venue add -ons with every event
add-ons
••Integration
Integration with non -ticketing inventory
non-ticketing
systems
MusicToday, 3rd
((MusicToday, rd parties)
••“Crowd sourced” item selection

“Crowd sourced”
••Better
Better user experience
Large increase of events with cross sells

••Large
from current 1%
110
Improve Customer Experience: Checkout
““My
My Cart
Cart”” Page
Abandoned Inventory
••List
List fan’s
fan’s previously abandoned inventory if still available
Nearly $200M of inventory abandoned per year
••Nearly
Personalization
Favorite acts on tour, recommendations, recently viewed
••Favorite
••Personalized
Personalized listings convert 2X better
““Bill Friends”
Bill My Friends”
••Send
Send requests to friends to make group
purchasing easier
111
Improve Customer Experience: Seat Maps
Old Seat Map
Interactive Seat Maps

(Launched)
•Events with seat maps convert 43% higher

•Events
than those without(1)
(1)
Seat maps shifted channel share to online

••Seat
purchases by 11%, with over half coming from
box office(2)
(2)
••27%
27% of fans said the maps contributed to them
buying more and/or more expensive tickets(3)(3)
••500+
500+ to be rolled out by EOY
17%
(1) ISM EDP to purchase page conversion of 4.7% vs. non-ISM 3.4% (April 2010)
(2) Year-over-year comparison between 2009 and 2010 for Jan-May for NBA teams with ISM
(3) Post-purchase survey of 30,679 customers
112
Improve Customer Experience: Search
Search Suggest
••Improve
Improve search effectiveness by suggesting search
results as request is typed
••45%
45% of home page visits use search box and convert
3X higher than average visit
••11%
11% of searches are currently unsuccessful
113
Improve Customer Experience: Social
Fan Reviews
(Launched)
••Over
Over 850k reviews; 2,000 per day
••More
More than 3,800 artists and 70% of artist
page view include reviews
Fan Photos
(Launched)
••Over
Over 2k artists and 57k photos
•Future integration onto home page and
•Future
events pages
““Who’s
Who’s Going”
Going”
••Allows
Allows fans to RSVP and post to Facebook
••Drives
Drives user engagement, visits, and orders
••Drives
Drives event discovery
Fan Reviews and Photo information for ticketmaster.com 114

Product Expansion: Upsell
Up-Sells
(YTD 2010)
Ticketmaster
Average Order
Value
$170
% of
Revenue eCommerce
from Industry
Upsells
Average Order
Value
$72
1%
Ticketmaster Amazon
TM Up-Sell Data through May, 2010. Amazon quoted by GetElastic (2006 information); ; Internet Shopping eMarketer and ComScore 115
Product Expansion: Drive incremental revenue
around ticket purchase
Ticket Insurance Parking Artist Products Travel
► 1M+ orders in 2010 (1) ► 600k orders in 2009 (2) ► Music: 40k orders (2) ► Fans travel out of town
• 4.7% attach rate • 13% attach rate • 26% attach rate for live events (3)
• Offered on 23% of orders • Offered on <1% of orders • 81% of concert buyers
►At 1/10 only available in • 65% of sports buyers
UK, Netherlands, ►Requires venue ►Merch: 92k orders (2)
Sweden participation • 14% attach rate ► Out of town fans use
• Offered on <3% of orders travel services (3)
• >50% stay at hotels
►Fan Clubs:105k orders(2) • ~40% buy a flight
• 7% attach rate
• Offered on <7% of orders
$13M $10M $6M $0

Annual Gross Revenue Annual Gross Revenue Annual Gross Revenue Annual Gross Revenue
$6M $20M $30M $24M

Potential Upside Potential Upside Potential Upside Potential Upside
(1) 2010 Insurance analysis , based on data through 6/30/2010

(2) 2009 Upsell report, assumes 19.8M internet orders; excludes LNT and MT
(3) LN Research (post show survey of concert buyers, 2010) n=951 for concerts, 630 for sports
116
Expanding into new distribution channels to
drive sales
Mobile API Kiosks

Applications
► Overhauled Live Nation ► Ticketmaster partner ► Walmart outlet roll out on track
API now able to • Currently 500+ stores
and Ticketmaster
mobile applications integrate with strategic • 1,100 before Q4 2010
3rd parties
► Launching Q4 2010 ► Over 100 kiosks in operation
► Will enable transactions with other partners
across the web and
mobile devices
117
ACCELERATING SPONSORSHIP
GROWTH
July 15, 2010

Ticketing = 18%
57%
 Royalty Costs
Event /
Concert
9%  Tickets 16%
 Talent Costs
 Marketing Costs
Note: Figures based on 2009 Adjusted Operating Income (AOI). 119

Live Nation Entertainment leverages consumers’
emotional connection to music to deliver what
corporate marketers want most.
REACH & TOUCH…

#1 concert network, #1 ticketing site, #3 e-commerce site, innovative marketing solutions
USER INTELLIGENCE…
demographics, purchase behavior, musical preference, financial status, proprietary data
SHARPNESS IN TARGETING…
by market, product spend, musical genre, venue, festival or artist
MULTIPLE TOUCHPOINTS…
across the entire live music ecosystem both online and offline
120
We provide sponsors with unprecedented reach
both on-site and online...
On-Site Online
Property Monthly Uniques
Ticketmaster 23.2 M
Live Nation Network* 7.7M
duplicates -2.5M
TOTAL 28.4M
Source: Live Nation Attendance Totals - 10-K; 2009 MLB, NBA, NHL and NFL Attendance Totals - ESPN.com; Source: Comscore March 2010
2009 UK Soccer Attendance Totals - WorldFootball.net; 2009 Broadway Attendance Totals - The Broadway *Includes LN.com, HOB.com, Music Today, artist sites, etc.
League; Elias Sports Research
121
…and a growing rich database enabling
sponsors and advertisers to directly connect
with a highly desirable consumer base.
On-site Online
Database
• 52.1M Annual Audience
• 80M Opt-in Users
122
Live Nation Entertainment has created the
most comprehensive music marketing network
in the world…
DATABASE
123
…attracting VALUABLE PARTNERS.
• >700 sponsors • >100 advertisers • >150 sellers
124
Our deals range from local to regional to
national…
2005 2010
National 48% 66%
Regional 10% 8%
Local 42% 26%
…with a continued shift toward national

business.
125
Global Sponsorship / Online AOI GROWTH
* Includes sponsorship and online advertising 126

Our GROWTH is outpacing the industry…
* Sources: Global Online Ad Spending via Pricewaterhouse Coopers; Global Sponsorship Spending via IEG Sponsorship Report 127
Sponsorship and Online Success Measurement
Sponsorship
Online
LN Global Sponsorship and Online Advertising YTD (thru 6/30) 128

Where We Make Our Money
2009 AOI 129

International: How We Make Our Money
130
North America: How We Make Our Money
131
How We Make Our Money
Venue Only Sponsor Example: Nikon
• Naming rights to Jones Beach Theater
• Product demonstration and on-site

consumer marketing initiatives
• Inclusion in media campaign
• Tickets and hospitality
• Typical Venue Deal Range:

– Name In Title: $500K - $1MM+
– Official Sponsor: $25K - $250K+
132
Online Advertiser Example: Motorola
• Comprehensive online campaign
• E-mail marketing campaign
• Custom sweepstakes promotion
• Sponsorship of Facebook module
• Typical Ad Campaigns: $50K - $500K+
133
Strategic Partner Example: Coca-Cola
• Pouring rights at 75+ Live Nation venues
• Comprehensive online media campaign
• Affiliation with touring artists
• Promotions awarding music experiences

and Live Nation Concert Cash
• Typical Deal: Multi-Year, Multi-Million
134
Festival Only Sponsor Example: Vodafone
• Exclusive telecommunications partner

across all Live Nation UK festivals
• Special access for Vodafone customers

including pre-sale tickets, fast track entry
and VIP viewing platform
• Creation of custom mobile app per festival
• Inclusion in media and marketing materials
• Typical Deal: $50K - $1.0MM+
135
Global Sponsorship and Online:
2010 Health Check
136
Our future is bright with significant GROWTH
opportunities…
Geographic Expansion Organic Growth

Grow our sponsorship base in Spain, France, Expand our strong established markets in NA & Europe
Germany, Australia and the Middle East (UK, Holland, Belgium, Italy, Nordics, Central and
Eastern Europe) through increased presence and
assets …. represents a >$29B sponsorship market*
Online Ad Sales
Forecast to continue double digit growth to a Social Media
$96B global advertising industry by 2014** Forecast to be $3B advertising industry in the U.S.
… LNE growth via rich media, video, user alone by 2014 **** …presents significant opportunities
generated content and continued innovation to integrate sponsors into LN Social Media platforms
Database Mobile
Forecast to be $7.6B global advertising industry by
Monetize our database for direct marketing 2014**, integrate sponsors into LNE WAP site, mobile
channels…a $165B industry in North America *** application and other mobile marketing initiatives
Source: IEG Sponsorship Report. **Source: Pricewaterhouse Coopers ***Source: Jack Meyers Media Report 137
**** Source: Forrester Research Interactive Advertising Forecast (US only)
ARTIST NATION
JULY 15, 2010
CONNECTING ARTISTS WITH THE FANS
139
139
OVERVIEW
Proforma AOI*
$70.0 0.9%
R +2 ► Artist Management
G $67.4
$60.0 CA $64.2
$50.0
► Artist Services Including:
$48.3
• Merchandise
$40.0 • Website and Fan Clubs
$37.1 • VIP Fan Experiences
$30.0
$30.0 • Brand Marketing
$20.0
$10.0
$-
2005 2006 2007 2008 2009
*Includes Pre-Acquisition Periods for Signatures (1/08) and Front Line (10/08) 140
ARTIST MANAGEMENT
Revenue Sources – 2009 ► 24 Operating Units

► 250 Artists
7%
► 95 Managers
11%
► CAGR AOI 22.2%
► Growth Through Direct Artist
Signings and Acquisitions
82% ► Acquisitions 4-5X EBITDA
Leverage < 3X
► AOI Margin 49%
Touring
Records and Publishing
Brand Marketing and Other
141
ARTIST SERVICES
Revenue Sources – 2009 AOI Sources – 2009
4%
5% Tour Merchandise (51%) Tour Merchandise (27%)
Retail and E-Commerce Retail and E-Commerce

Merchandise (19%) 27% Merchandise (43%)
12% 25%
51% Website, Fan Club and Website, Fan Club and
Fulfillment Services (13%) Fulfillment Services (0%)
13%
VIP Fan Experiences (12%) VIP Fan Experiences (25%)
19% Brand Marketing and Other 43% Brand Marketing and Other
(5%) (4%)
► Artist Services AOI Margin 5%

►Retail and E-Commerce Merchandise AOI Margin 15%
142
FUTURE GROWTH
143
THANK YOU
APPENDIX
145
Non-GAAP Financial Measures and Reconciliations
This presentation contains certain non-GAAP financial measures as defined by SEC Regulation G. A reconciliation of each
such measure to its most directly comparable GAAP financial measure, together with an explanation of why management
believes that these non-GAAP financial measures provide useful information to investors, is provided below.
Adjusted Operating Income (Loss), or AOI, is a non-GAAP financial measure that the company defines as operating
income (loss) before acquisition expenses (including merger bonuses, payments under the Azoff Trust note and merger-
related severance), depreciation and amortization (including goodwill impairment), loss (gain) on sale of operating assets
and non-cash compensation expense. The company uses AOI to evaluate the performance of its operating segments. The
company believes that information about AOI assists investors by allowing them to evaluate changes in the operating
results of the company’s portfolio of businesses separate from non-operational factors that affect net income, thus
providing insights into both operations and the other factors that affect reported results. AOI is not calculated or presented
in accordance with GAAP. A limitation of the use of AOI as a performance measure is that it does not reflect the periodic
costs of certain amortizing assets used in generating revenue in the company’s business. Accordingly, AOI should be
considered in addition to, and not as a substitute for, operating income (loss), net income (loss) and other measures of
financial performance reported in accordance with GAAP. Furthermore, this measure may vary among other companies;
thus, AOI as presented herein may not be comparable to similarly titled measures of other companies.
Free Cash Flow is a non-GAAP financial measure that the company defines as Adjusted Operating Income (Loss) less
maintenance capital expenditures, less net cash interest expense, less cash taxes, less net distributions to minority interest
partners, plus distributions from investments in nonconsolidated affiliates net of contributions to investments in
nonconsolidated affiliates. The company uses free cash flow, among other measures, to evaluate the ability of its
operations to generate cash that is available for purposes other than maintenance capital expenditures. The company
believes that information about free cash flow provides investors with an important perspective on the cash available to
service debt and make acquisitions. Free cash flow is not calculated or presented in accordance with GAAP. A limitation of
the use of free cash flow as a performance measure is that it does not necessarily represent funds available for operations
and is not necessarily a measure of our ability to fund our cash needs. Accordingly, free cash flow should be considered in
addition to, and not as a substitute for, operating income (loss) and other measures of financial performance reported in
accordance with GAAP. Furthermore, this measure may vary among other companies; thus, free cash flow as presented
herein may not be comparable to similarly titled measures of other companies.
146
Non-GAAP Financial Measures and Reconciliations (cont.)
Reconciliation of Adjusted Operating Income (Loss) to Operating Income (Loss)
Adjusted Loss (gain)

operating Non-cash on sale of Acquisition Depreciation Operating
income compensation operating transaction and Goodwill One-time income
(loss) expense assets costs amortization Impairment Charges (loss)
($ in millions)
LNE
Year Ended December 31, 2009 $ 445 $ 41 $ (3) $ 68 $ 286 $ 9 $ - $ 44
Year Ended December 31, 2008 $ 407 $ 59 $ 1 $ - $ 234 $ 1,364 $ - $ (1,251)
Year Ended December 31, 2007 $ 415 $ 42 $ (21) $ - $ 172 $ - $ - $ 222
Year Ended December 31, 2005 $ 352 $ 22 $ 5 $ - $ 113 $ - $ 55 $ 157
Year Ended December 31, 2004 $ 281 $ 24 $ 1 $ - $ 107 $ - $ - $ 149
Live Nation
Year Ended December 31, 2009 $ 165 $ 17 $ (3) $ 36 $ 158 $ 9 $ - $ (52)
Year Ended December 31, 2008 $ 149 $ 35 $ 1 $ - $ 140 $ 270 $ - $ (297)
Year Ended December 31, 2006 $ 103 $ 3 $ (10) $ - $ 114 $ - $ - $ (4)
Year Ended December 31, 2005 $ 103 $ 1 $ 5 $ - $ 51 $ - $ 55 $ (9)
Year Ended December 31, 2004 $ 90 $ 1 $ 1 $ - $ 51 $ - $ - $ 37
147

($ in millions)
Ticketmaster
Year Ended December 31, 2009 $ 224 $ 10 $ - $ 32 $ 88 $ - $ - $ 94
Year Ended December 31, 2008 $ 241 $ 22 $ - $ - $ 87 $ 1,094 $ - $ (962)
Year Ended December 31, 2007 $ 294 $ 13 $ - $ - $ 65 $ - $ - $ 216
Year Ended December 31, 2003 $ 171 $ - $ - $ - $ 71 $ - $ - $ 100
Frontline
148

($ in millions)
LNE
Year Ended December 31, 2009 $ 445 $ 42 $ (3) $ 68 $ 286 $ 9 $ - $ 43
Year Ended December 31, 2008 $ 407 $ 59 $ 1 $ - $ 235 $ 1,364 $ - $ (1,252)
Concerts
Year Ended December 31, 2009 $ 100 $ 9 $ (3) $ 1 $ 130 $ 9 $ - $ (46)
Year Ended December 31, 2008 $ 110 $ 24 $ - $ - $ 120 $ 234 $ - $ (268)
Year Ended December 31, 2007 $ 78 $ 17 $ (26) $ - $ 93 $ - $ - $ (6)
Artist Nation
Year Ended December 31, 2009 $ 64 $ 15 $ - $ - $ 50 $ - $ - $ (1)
Year Ended December 31, 2008 $ 24 $ 3 $ - $ - $ 17 $ 36 $ - $ (32)
Year Ended December 31, 2007 $ 2 $ 2 $ - $ - $ 3 $ - $ - $ (3)
Ticketing
Year Ended December 31, 2008 $ 227 $ 9 $ - $ - $ 89 $ 1,094 $ - $ (965)
Sponsorship
Year Ended December 31, 2009 $ 97 $ - $ - $ - $ - $ - $ - $ 97
Year Ended December 31, 2008 $ 96 $ 1 $ - $ - $ - $ - $ - $ 95
Year Ended December 31, 2007 $ 90 $ - $ - $ - $ - $ - $ - $ 90
E-Commerce
Year Ended December 31, 2007 $ 40 $ - $ - $ - $ 3 $ - $ - $ 37
Corporate / Other
Year Ended December 31, 2009 $ (86) $ 13 $ - $ 67 $ 3 $ - $ - $ (169)
Year Ended December 31, 2008 $ (89) $ 21 $ 1 $ - $ 6 $ - $ - $ (117)
Year Ended December 31, 2007 $ (78) $ 16 $ 5 $ - $ 8 $ - $ - $ (107)
149

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INVESTOR & ANALYST DAY

JULY 15, 2010

A captivating moment in life, where fans can...

CONCERTS ARE CONSUMED IN EVERY CORNER OF THE GLOBE –

Concert Industry Ticket Sales

Source: Pollstar 2009 Year End Business Analysis Report

LNE Combined Gross Revenue

$6.0 $5.5 $5.5

Source: Live Nation – Historical 10K and 2010 Budget

Source: 1990-2009 – Pollstar 2009 Year End Business Analysis Report. 10

► More Markets and Venues are Opening Up to

► More Tickets are Sold as Technology

► More Bands are On the Road

U.S. / UK Business Global Business

1980 2000 2010 2010+

 Canada - 3  Canada - 7  Canada - 10  Canada - 15

 Latin America - 5  Latin America - 10

 Middle East - 2  Middle East - 10

UNTIL 2000, THE BUSINESS WAS CONCENTRATED IN

Outside North America AOI

Live Nation 0% 5% 53% 65%

Ticketmaster 0% 21% 14% 40%

Live Nation Entertainment 0% 7% 29% 50%

1990 2000 2010 2010+

18.0 Avg. Concerts 10+ Concerts

% of People Who Would

Source: Goldman Sachs Research Estimates 16

Old Model New Model

Top Earning Musical Acts of 2009

$0 $20 $40 $60 $80 $100 $120 $140

Elton John/Billy Joel

Dave Matthews Band

Album Sales (in millions) Tour Gross (in millions)

50-90% ANNUAL ARTIST REVENUE

Source: Pollstar; Los Angeles Times 18

DIRECT TRANSACTIONS WITH 400MM FANS WORLDWIDE…

THE WORLD’S LARGEST SOCIAL MUSIC NETWORK

40% 29% 14% 17%

E-Commerce/ Onsite Ancillary =

Note: Figures based on 2009 Adjusted Operating Income (AOI). 22

E-Commerce Revenue Live Ancillary

Ticketing Sponsorship 75 Global Markets

Management Online Advertising

Note: Figures based on 2009 Revenue. 23

LNE IS THE ONLY MUSIC COMPANY TO COMBINE CONTENT,

1. Replicate 4 Lever Event Model in International Markets or

2. Build the World’s Leading Music Database/CRM Skill Set to Drive

3. Sell More Tickets Through More Effective Pricing and Marketing,

4. Grow Sponsorship by Leveraging LNE Fan CPM

5. Stop Decline at Ticketmaster and Redefine its Growth Potential

2007 2008 2009 2010

Live Nation Entertainment Live Nation Entertainment

Sponsorship Ticketing E-Commerce Concerts Artist Nation

$MM 2003 – 2009

Live Nation Ticketmaster Frontline LNE

Source: Historical financials 10-K. 29

Live Nation Ticketmaster Frontline LNE

Source: Historical financials 10-K. 30

$MM 2003 – 2009

$295 $295 $294

Live Nation Ticketmaster Frontline LNE

Source: Historical financials 10-K. 31

($78) ($89) ($86)

2007 2008 2009