Report published August 30, 2026
Goldman Sachs: Americas Entertainment Key Themes & Debates (Communacopia + Technology 2026)
Source and citation context
- Issuer
- Goldman Sachs
- Report date
- August 30, 2026
- Analysis as of
- August 26, 2026
Authors / editors: Stephen Laszczyk (Lead Analyst), Eric Sheridan (Analyst), Antares Tobelem (Analyst), Danni Kennedy (Analyst)
Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Goldman Sachs previews key themes and investor debates across Americas Entertainment ahead of the 2026 Communacopia + Technology Conference. Live events and sports media maintain strong fundamental momentum and high visibility, while audio, theatrical exhibition, and toys exhibit more company-specific divergence.
Key Takeaways
- 1.Live events and sports media demonstrate the strongest fundamental visibility in US entertainment, driven by durable consumer demand, contracted media rights, and expanding sponsorship/premium hospitality.
- 2.The music and audio industry is shifting focus from subscriber volume growth toward pricing power, AI monetization, and platform-specific strategic optionality.
- 3.Theatrical exhibition is benefiting from premium-format outperformance (IMAX, PLF), while the toy sector displays divergence where collectibles/gaming (HAS, FNKO) outperform traditional toy categories (MAT).
Table of Contents
- Table of Contents
- Key themes coming out of 2Q earnings
- Coverage Benchmarking
- 2Q Company Earnings Review Notes
- Key takes from other recent research
- GS Entertainment Trackers
- Valuation & Risks
- Disclosure Appendix
Report data
Exhibit 2: Total Potential Return to GS 12-mo Price Target (% Up/Downside of GS PT vs current price, as of August 26, 2026) — as of August 26, 2026.
| Metric | Estimate | Context |
|---|---|---|
| Live Nation Expected Fan Count Growth | 10% | Fan count growth expected in 2026 despite broader macroeconomic concerns. |
| StubHub Expected GMS Growth | 10-12% | Gross merchandise sales growth projection for StubHub. |
| Domestic Box Office | 1177 USD Million | Monthly box office revenue. |
| Domestic Box Office Full Year Forecast | 9.76 USD Billion | GS forecast for total domestic box office in 2026. |
| Mattel Total Opex Initiatives | 150 USD Million | Total operational expenditure investments across toy and digital gaming businesses. |
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Authors / Editors
Reported Data Context
- Live Nation Expected Fan Count Growth: 10 % (2026) · Source: Live Nation
- StubHub Expected GMS Growth: 10-12 % (2026) · Source: StubHub
- Domestic Box Office: 1177 USD Million (July 2026) · Source: Goldman Sachs Global Investment Research
- Domestic Box Office Full Year Forecast: 9.76 USD Billion (2026E) · Source: Goldman Sachs Global Investment Research
- Mattel Total Opex Initiatives: 150 USD Million (2026-2027) · Source: Mattel / Goldman Sachs
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