Live Nation Entertainment Inc. (LYV)

They control almost all the live venues for concerts. Demand and schedule for concerts remains huge, like Canadians seeing Taylor Swift in other countries.

LYV is up 21% this year, which we would not consider so bad. Sales have tripled since 2020 in the covid rebound, and are expected to rise about 10% next year. Concert sales rose 29% last quarter. There are some legal issues, regarding concentration in the industry and investigations by the government, but otherwise we do not see a lot of issues. At 75X earnings, however, the stock is too expensive to get us really interested. 
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Post Covid-19 demand for entertainment will remain strong.
Higher prices not impacting demand.
Artists forced to tour as a result of Spotify.
Expecting many years of live show demand growth. 
Expanding vertically into venue ownership. 

He sold it last year at $7. The post-Covid reopening impulse has long ended.

He'd double-down on this after recommending this some weeks ago, though the stock has been a bit of a dud since then. Let's assume demand will be there. Goldman Sachs (in this bullish call today) said there'll be twice as many musicians touring than in a normal year, and LN can capitalize. Rising cases are not enough to justify lockdowns, because people won't allow. He still likes this.

It's pricey but should be. Goldman Sachs predicts a blockbuster year for them and it's justified in this reopening. LN sells beer, t-shirts and VIP packages which offer super-high margins. LN controls so many venues and faces little competition. A great company, but not cheap.