Liberty Live Holdings is a holding company formed in December 2025 through a split-off from Liberty Media. Its primary asset is a ~30% equity stake in Live Nation, the world's largest live entertainment company. Liberty Live accounts for this stake as an equity method investment, recording its proportionate share of Live Nation's earnings. Liberty Live also owns Quint, a smaller business that secures official hospitality rights from sports leagues and event organizers — including Formula 1, MotoGP, Churchill Downs, and the NBA — and bundles tickets with hospitality, travel, and on-site experiences for individual consumers and corporate clients. Live Nation operates three interconnected segments: Concerts (~83% of revenue), where Live Nation promotes roughly 55,000 events per year globally and owns or operates 460 venues; Ticketing (~12% of revenue), where Ticketmaster sells tickets on behalf of venue and promoter clients under exclusive multi-year agreements, retaining a portion of service charge fees; and Sponsorship & Advertising (~5% of revenue), where Live Nation sells long-term sponsorships to corporate brands across its venue network and digital platforms. The three Live Nation segments reinforce each other — more concerts drive ticketing volume, and a larger fan base attracts corporate sponsors. Liberty Live's own corporate functions are outsourced to Liberty Media under a services agreement, leaving Quint as its only standalone operating business.