May 2026
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Largest Music Public Companies in the US
Benchmark revenue and EBITDA valuation multiples for public comps like
Live Nation, Warner Music Group, Reservoir Media, LiveOne and Hollywall Entertainment.
 | Live Nation is the largest live entertainment company in the world, serving as a concert promoter, venue operator, and ticketing platform. In addition, the firm generates revenue from sponsorships and advertising. With offices in 51 countries, Live Nation promotes concerts globally and it owned, operated, or had exclusive booking rights to more than 400 venues worldwide at the end of 2025, which the firm says makes it the second-largest operator of music venues globally. In 2025, Live Nation promoted nearly 55,000 events, drawing roughly 160 million fans. Ticketmaster is a dominant global ticketing service, selling nearly 650 million tickets in 2025. | Events+2 | $163 | +19% | $38B | $39B | 1.6x | 16.7x | |
| Warner Music is the third-largest of the three major record companies. Recorded music accounts for most of the firm’s revenue, with the segment housing notable record labels including Atlantic Records, Warner Records, Elektra Records. Some of the most successful current artists signed to record deals with Warner include Ed Sheeran, Bruno Mars, Cardi B, and Dua Lipa. Warner’s remaining revenue comes from its publishing business, where Warner Chappell represents more than 180,000 songwriters and composers, some of whom are also Warner recording artists but many of whom are not recording artists or are attached to other labels. Warner Chappell controls more than 1 million musical compositions. Access Industries controls 98% of Warner’s voting rights, while holding a 72% economic interest. | Music+1 | $34 | +30% | $18B | $22B | 3.3x | 15.3x | |
| Reservoir Media Inc is an independent music company. It operates a music publishing business, a recorded music business, a management business, and a rights management entity in the Middle East. The company's segments include Music Publishing and Recorded Music. It generates the maximum of its revenue from the Music Publishing segment. | $10 | +30% | $663M | $1B | 6.9x | 16.8x | ||
| LiveOne Inc, formerly LiveXLive Media Inc is a premium internet network devoted to live music and music-related video content. The company has been building an online destination for music fans to enjoy live performances from music venues and music festivals around the world, such as Rock in Rio, Outside Lands Music and Arts Festival, and Hangout Music Festival, as well as original content, artist exclusives, and industry interviews. The Company operates mainly through three segments, PodcastOne, Slacker, and Media Group, with a majority of its revenue derived from the Slacker segment. | Music+1 | $7 | -12% | $88M | $103M | 0.9x | 11.5x | |
| Hollywall Entertainment Inc is driving innovation in entertainment, Real World Assets, space archiving, and digital media assets. Through subsidiaries it curates cultural legacies, including working with Space Blue on the Lunaprise Moon Museum. It curated and preserved over 27,000 music and visual arts assets, including rare and coveted music recordings, photos and videos, some which are unpublished, from countless legendary music recording artists including James Brown, Chuck Berry, Frank Sinatra, Count Basie, The Who, Dolly Parton, Ray Charles, Elvis Presley, Johnny Cash, Jimi Hendrix, Marvin Gaye, Willie Nelson, Tina Turner, Mick Jagger, Janis Joplin, Grace Slick, Eric Clapton and the Yardbirds, Johnny Winter, Jefferson Airplane, Duke Ellington, Lena Horne, John Lee Hooker, and Others. | Music+1 | $0 | -- | $7M | $7M | — | — | |
| Radioio Inc is a United States based company engaged in providing internet radio media platform that delivers streamed music on connected devices. | -- | -- | $316K | $203K | — | — | ||
| Median | $10 | +24% | $375M | $602M | 2.4x | 16.0x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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