t outlets, and telephone call centers. This segment also manages the company’s online activities, including improvements to its Websites and bundled product offerings. Through all of its ticketing services, the company sold 160 million tickets in 2015 on which it paid fees for its services. In addition, approximately 297 million tickets in total were sold using the company’s Ticketmaster systems, through season seat packages and its venue clients’ box offices, for which it does not receive a fee. The company sells tickets on behalf of its clients through its ticketing platforms worldwide. It enters into written agreements with individual clients to provide primary ticketing services for specified multi-year periods, ranging from three to five years. While the company generally has the right to sell a major portion of its clients’ tickets, venue and promoter clients often sell and distribute group sales and season tickets in-house. The company also allows clients to make a certain limited number of tickets available for sale through fan clubs, or other similar arrangements, from which it derives no revenue unless selected by the club to facilitate the sales. The company offers ticket resale services, referred to as secondary ticketing, primarily through its integrated inventory platform, league/team platforms and other platforms internationally. It enter into arrangements with ticket resellers to post their ticket inventory for sale at a purchase price equal to a ticket resale price, determined by the ticket reseller, plus a pre-determined service fee to the buyer. The company remits the ticket resale price to the ticket resellers less a predetermined service fee to the seller. Artist Nation This segment primarily provides management services to music artists in exchange for a commission on the earnings of these artists. This segment also creates and sells merchandise for music artists at live performances, to retailers and directly to consumers through the Internet. Sponsorship & Advertising This segment employs a sales force that creates and maintains relationships with sponsors, through a combination of strategic, international, national and local opportunities that allow businesses to reach customers through the company’s concert, venue, artist relationship, and ticketing assets, including advertising on the company’s Websites. It works with its corporate clients to help create marketing programs that connect their brands directly with fans and artists. The company also develops, books, and produces custom events or programs for its clients’ specific brands, which are experienced by the clients’ consumers. These custom events could involve live music events with talent and media, using both online and traditional outlets. The company’s local and venue-focused sponsorships include venue signage, promotional programs, on-site activation, hospitality, and tickets; and are derived from various companies across various industry categories. Seasonality: The company experiences higher revenue in the second and third quarters as a large portion of sponsorships are associated with its outdoor venues and festivals, which are primarily used in or occur from May through October. Strategy The company’s strategy is to leverage its leadership position in live entertainment and its relationships with fans, venues, artists, and advertisers to sell more tickets. Its strategy is to expand its concert platform; sell more tickets and invest in product improvements; grow secondary ticket volume; grow sponsorship and advertising; and drive artist management through its other core businesses. Intellectual Property The company’s trademarks include, among others, the marks ‘Live Nation’, ‘Ticketmaster’, ‘House of Blues’ and ‘The Fillmore’, and their corresponding logos. Government Regulations The company is subject to federal, state and local laws, both domestically and internationally, governing matters, such as compliance with the Americans with Disabilities Act of 1990 and the United Kingdom's Disability Discrimination Act of 1995; and compliance with United States Foreign Corrupt Practices Act, t
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