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Energy","tier":3,"returns_yearly":{"2021":-35.4,"2022":-2.7,"2023":-27,"2024":314.2,"2025":149.9,"2026":1.8}},{"slug":"spacex","name":"스페이스X","name_en":"SpaceX","tier":3,"returns_yearly":{"2026":0.7}},{"slug":"boeing","name":"보잉","name_en":"Boeing","tier":3,"returns_yearly":{"2021":-6,"2022":-5.4,"2023":36.8,"2024":-32.1,"2025":22.7,"2026":-2.2}},{"slug":"hoya","name":"호야","name_en":"Hoya Corporation","tier":3,"returns_yearly":{"2021":10.8,"2022":-3,"2023":34.4,"2024":11.3,"2025":24.9,"2026":-2.5}},{"slug":"te-connectivity","name":"TE Connectivity","name_en":"TE Connectivity","tier":3,"returns_yearly":{"2021":35.1,"2022":-27.7,"2023":24.6,"2024":3.5,"2025":61.1,"2026":-3}},{"slug":"cameco","name":"Cameco","name_en":"Cameco","tier":3,"returns_yearly":{"2021":63.2,"2022":4.3,"2023":90.5,"2024":19.5,"2025":78.4,"2026":-3.7}},{"slug":"fanuc","name":"FANUC","name_en":"FANUC","tier":3,"returns_yearly":{"2021":-16.5,"2022":4.4,"2023":-8.1,"2024":15.6,"2025":37.7,"2026":-4.5}},{"slug":"meta","name":"메타 플랫폼스","name_en":"Meta Platforms","tier":3,"returns_yearly":{"2021":23.1,"2022":-64.2,"2023":194.1,"2024":66,"2025":13.1,"2026":-6.4}},{"slug":"workday","name":"워크데이","name_en":"Workday, Inc.","tier":3,"returns_yearly":{"2021":14,"2022":-38.7,"2023":65,"2024":-6.5,"2025":-16.8,"2026":-8.8}},{"slug":"textron","name":"텍스트론","name_en":"Textron","tier":3,"returns_yearly":{"2021":59.9,"2022":-8.2,"2023":13.7,"2024":-4.8,"2025":14.1,"2026":-9.3}},{"slug":"shopify","name":"Shopify","name_en":"Shopify","tier":3,"returns_yearly":{"2021":21.7,"2022":-74.8,"2023":124.4,"2024":36.5,"2025":51.4,"2026":-9.9}},{"slug":"phison","name":"Phison","name_en":"Phison Electronics","tier":3,"returns_yearly":{"2021":26.8,"2022":-10.7,"2023":45.1,"2024":-6.7,"2025":418.3,"2026":-12.8}},{"slug":"avio","name":"아비오","name_en":"Avio","tier":3,"returns_yearly":{"2021":-9.9,"2022":-4.7,"2023":-17.1,"2024":98.4,"2025":117,"2026":-18.3}},{"slug":"hd-hyundai-electric","name":"HD Hyundai Electric","name_en":"HD Hyundai Electric","tier":3,"returns_yearly":{"2021":4.2,"2022":132.5,"2023":159.4,"2024":300.5,"2025":120.2,"2026":-31.3}},{"slug":"rigetti","name":"Rigetti Computing","name_en":"Rigetti Computing","tier":3,"returns_yearly":{"2022":-92.9,"2023":35.1,"2024":1449.2,"2025":45.2,"2026":-31.4}},{"slug":"ubtech","name":"UBTech","name_en":"UBTech Robotics","tier":3,"returns_yearly":{"2024":-21.6,"2025":95.4,"2026":-38.8}},{"slug":"siemens-eda","name":"Siemens EDA","name_en":"Siemens EDA","tier":3,"returns_yearly":null}],"analysis":"글로벌 공연·티켓사 기업. 최근 몇 년간 견조한 상승이 이어졌고 2026년 +21.8%다. 수요단(평균 +14.9%)·본주(+21.8%)·공급단(평균 +12%)이 비슷한 보폭이다. 전파가 한 바퀴 돈 동조 국면이라, 다음 구간은 사슬 방향보다 개별 실적이 가른다. 연결 노드 중 가장 앞선 곳은 코카콜라(+27.7%), 가장 처진 곳은 마스터카드(+2%)다. 격차가 사슬 논리로 설명되면 후자가 다음 전파 후보이고, 설명되지 않으면 그 연결 자체를 다시 봐야 한다.","analysis_en":"Live Nation Entertainment, Inc. operates across Global live-events and ticketing group. It stayed steadily positive in recent years and is +21.8% in 2026. Demand side (avg +14.9%), the stock (+21.8%) and supply side (avg +12%) are moving in step. Propagation has completed a lap, so the next leg depends on individual results more than chain direction. Among connected nodes the furthest ahead is The Coca-Cola Company (+27.7%) and the furthest behind is Mastercard Inc (+2%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. Its major outlays include artist guarantees and revenue shares, event production, venues and ticketing systems, and cloud infrastructure, while it also increased its ownership of OCESA in 2025.","analysis_asof":"2026-09-04"},"edges":[{"direction":"investment","counterparty":"OCESA","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2025-07-30","basis":"OCESA 지분 24% 추가 취득 거래액","value":646000000,"period":"additional 24% interest acquired in 2025","basis_en":"Consideration for the additional 24% interest in OCESA","qualifier":"approximately"},"note":"라이브 네이션은 2025년 멕시코 공연기획사 OCESA 지분 24%를 추가 취득해 보유 지분을 75%로 높였다. 거래액은 라이브 네이션이 매체에 확인한 약 6억4600만달러다.","note_en":"Live Nation acquired an additional 24% of Mexican promoter OCESA in 2025, raising its ownership to 75%. Live Nation confirmed an approximately $646 million transaction value to the trade publication reporting the deal.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-19","url":"https://www.sec.gov/Archives/edgar/data/1335258/000133525826000009/lyv-20251231.htm","title":"라이브 네이션 엔터테인먼트 2025년 10-K","title_en":"Live Nation Entertainment, Inc. 2025 Form 10-K","excerpt":"회사는 CIE로부터 OCESA 지분 24%를 추가 취득했다고 공시했다.","excerpt_en":"We also acquired an additional 24% interest in OCESA from CIE."},{"stance":"confirms","publisher":"뮤직 비즈니스 월드와이드","publisher_en":"Music Business Worldwide","kind":"news","lang":"en","published_at":"2025-07-30","url":"https://www.musicbusinessworldwide.com/live-nation-strikes-646-million-stake-in-mexicos-ocesa/","title":"라이브 네이션, 멕시코 OCESA 지분 확대에 6억4600만달러 거래","title_en":"Live Nation Strikes $646 Million Deal to Increase Stake in Mexico's OCESA","excerpt":"라이브 네이션은 OCESA 추가 지분 24%의 가격이 약 6억4600만달러라고 확인했다.","excerpt_en":"The additional 24% in OCESA will cost just over MXN 12 billion, or USD 646 million."}]},{"direction":"revenue","counterparty":"Coca-Cola","counterparty_slug":"coca-cola","confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2025-02-20","basis":"Coca-Cola의 라이브 네이션 다년·다중 페스티벌 스폰서십 대가","value":null,"period":"multi-year partnership announced in 2024 and active in 2025","basis_en":"Consideration under Coca-Cola's multi-year, multi-festival sponsorship with Live Nation","qualifier":"confirmed_no_disclosed_value"},"note":"Coca-Cola는 라이브 네이션의 대형 브랜드 고객이다. 양사는 여러 페스티벌을 포괄하는 다년 스폰서십을 맺었고, 2025년 공시에서도 확대된 관계가 이어졌다고 확인됐다.","note_en":"Coca-Cola is a major brand customer of Live Nation. The companies entered a multi-year, multi-festival sponsorship, and Live Nation's 2025 filing confirmed that the expanded relationship remained active.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-02-20","url":"https://investors.livenationentertainment.com/sec-filings/all-sec-filings/content/0001335258-25-000027/0001335258-25-000027.pdf","title":"라이브 네이션 엔터테인먼트 2024년 4분기 및 연간 실적 8-K","title_en":"Live Nation Entertainment Fourth Quarter and Full Year 2024 Results, Form 8-K","excerpt":"회사는 Coca-Cola를 포함한 여러 파트너와의 관계를 확대했다고 밝혔다.","excerpt_en":"Expanded relationships with several partners including Cisco, Bacardi, Coca-Cola, and Hulu."}]},{"direction":"revenue","counterparty":"Mastercard Inc","counterparty_slug":"mastercard","confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2025-11-04","basis":"Mastercard의 라이브 네이션 국제 공연 혜택 스폰서십 대가","value":null,"period":"multi-year partnership expanded in 2025","basis_en":"Consideration under Mastercard's sponsorship for international Live Nation concert benefits","qualifier":"confirmed_no_disclosed_value"},"note":"Mastercard는 카드회원에게 공연 선예매와 프리미엄 좌석을 제공하는 다년 파트너십의 스폰서 고객이다. 라이브 네이션은 2025년에 이 관계를 홍콩, 중동, 남아프리카로 확대했다고 공시했다.","note_en":"Mastercard is a sponsorship customer under a multi-year partnership that gives cardholders concert presales and premium seating. Live Nation disclosed an expansion into Hong Kong, the Middle East, and South Africa in 2025.","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-11-04","url":"https://investors.livenationentertainment.com/sec-filings/all-sec-filings/content/0001335258-25-000150/0001335258-25-000150.pdf","title":"라이브 네이션 엔터테인먼트 2025년 3분기 실적 8-K","title_en":"Live Nation Entertainment Third Quarter 2025 Results, Form 8-K","excerpt":"Mastercard 파트너십을 홍콩, 중동, 남아프리카를 포함한 추가 시장으로 확대했다.","excerpt_en":"An expansion of our partnership with Mastercard to additional markets including Hong Kong, Middle East, and South Africa."},{"stance":"confirms","publisher":"마스터카드 투자자관계","publisher_en":"Mastercard Investor Relations","kind":"ir","lang":"en","published_at":"2025-07-16","url":"https://investor.mastercard.com/investor-news/investor-news-details/2025/Elevating-Cardholder-Experiences-Worldwide-With-the-Mastercard-Collection-and-Introduction-of-World-Legend-Mastercard/default.aspx","title":"마스터카드 컬렉션과 월드 레전드 마스터카드 공개","title_en":"Elevating Cardholder Experiences Worldwide With the Mastercard Collection and Introduction of World Legend Mastercard","excerpt":"마스터카드는 라이브 네이션과의 국제 파트너십을 통해 공연 선예매와 프리미엄 좌석을 제공한다고 밝혔다.","excerpt_en":"Ticket access, including presales, and premium seating through our international partnership with Live Nation."}]},{"direction":"cost","counterparty":"JYP Ent.","counterparty_slug":"jyp-entertainment","confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2025-03-26","basis":"북미 공연의 최소보장금과 초과수익 배분을 포함한 JYP 파트너십 지급액","value":null,"period":"multi-year partnership from 2023","basis_en":"Payments under the JYP partnership, including North American minimum guarantees and overage profit sharing","qualifier":"confirmed_no_disclosed_value"},"note":"라이브 네이션은 JYP 소속 아티스트의 글로벌 투어를 제작하는 다년 파트너다. 북미 계약은 최소보장금에 초과수익 배분을 더하는 구조여서 JYP와 아티스트 몫이 라이브 네이션의 공연 직접비로 이어진다.","note_en":"Live Nation is JYP's multi-year partner for producing global tours by JYP artists. In North America, the arrangement combines a minimum guarantee with an overage profit share, making JYP and artist payments a direct concert cost to Live Nation.","sources":[{"stance":"confirms","publisher":"iM증권 리서치본부","publisher_en":"iM Securities Research Center","kind":"research","lang":"ko","published_at":"2025-03-26","url":"https://www.paxnet.co.kr/WWW/data/researchCenter/attach/20250327082756792.pdf","title":"엔터테인먼트: Make K-pop Great Again","title_en":"Entertainment: Make K-pop Great Again","excerpt":"2023년 말 JYP는 공연 사업 글로벌 확장을 위해 라이브네이션과 다년간의 파트너십을 체결한 바 있다.","excerpt_en":"At the end of 2023, JYP entered a multi-year partnership with Live Nation to expand its global concert business."},{"stance":"confirms","publisher":"JYP 엔터테인먼트","publisher_en":"JYP Entertainment","kind":"ir","lang":"en","published_at":"2023-11-15","url":"https://main.d1dscofy6ffndp.amplifyapp.com/Board/Detail?gubun=irdata&jbst_sq=56","title":"JYP 엔터테인먼트 FY2023 3분기 실적발표 요약","title_en":"JYP Entertainment FY2023 Q3 Earnings Call Summary","excerpt":"북미 계약 구조는 최소보장금 단독에서 최소보장금과 초과수익 배분의 결합으로 바뀌었다.","excerpt_en":"The contract structure has shifted from MG only to MG plus R/S in the NA region."}]},{"direction":"cost","counterparty":"아마존","counterparty_slug":"amazon","confidence":"mid","metric":{"type":"amount","unit":"USD","as_of":"2024-12-03","basis":"AWS 클라우드 인프라 사용료","value":null,"period":"cloud relationship confirmed through 2024","basis_en":"Fees for AWS cloud infrastructure","qualifier":"confirmed_no_disclosed_value"},"note":"AWS는 티켓마스터, 라이브 네이션 본사 IT, 일부 페스티벌 사업의 클라우드 인프라 공급사다. 2024년 AWS 세션 자료도 라이브 네이션이 AWS 전환을 완료하고 총소유비용을 줄인 사례를 다시 제시했다.","note_en":"AWS supplies cloud infrastructure to Ticketmaster, Live Nation's corporate IT, and selected festival operations. An AWS 2024 session revisited Live Nation's completed migration and reported a reduction in total cost of ownership.","sources":[{"stance":"confirms","publisher":"Amazon Web Services","publisher_en":"Amazon Web Services","kind":"analysis","lang":"en","published_at":"2024-12-03","url":"https://reinvent.awsevents.com/content/dam/reinvent/2024/slides/mam/MAM212_Accelerate-your-cloud-migration-A-leaders-guide-to-going-fast.pdf","title":"클라우드 마이그레이션 가속화: 빠르게 실행하기 위한 리더 가이드","title_en":"Accelerate Your Cloud Migration: A Leader's Guide to Going Fast","excerpt":"라이브 네이션은 AWS로 전면 이전했고 총소유비용을 48% 줄였다.","excerpt_en":"Live Nation went all-in with AWS and reduced TCO by 48%."},{"stance":"confirms","publisher":"아마존 뉴스룸","publisher_en":"Amazon Newsroom","kind":"news","lang":"en","published_at":"2017-02-08","url":"https://press.aboutamazon.com/2017/2/live-nation-selects-amazon-web-services-as-cloud-infrastructure-provider","title":"라이브 네이션, 클라우드 인프라 공급자로 AWS 선정","title_en":"Live Nation Selects Amazon Web Services as Cloud Infrastructure Provider","excerpt":"라이브 네이션은 AWS를 퍼블릭 클라우드 인프라 공급자로 선정했다.","excerpt_en":"Live Nation has selected AWS as its public cloud infrastructure provider."}]}]}