Live Nation shares jump 6.12% after hours on multi-year Hiyo beverage partnership and equity investment.

Live Nation Entertainment surged 6.12% in after-hours trading following the announcement of a multi-year partnership with Hiyo Social Tonics, a non-alcoholic functional beverage brand. The collaboration, which includes an equity investment by Live Nation, aims to expand Hiyo’s availability across Live Nation venues and festivals, aligning with consumer demand for quality drink options at events. The partnership addresses research showing 60% of fans alternate between alcoholic and non-alcoholic beverages, positioning Live Nation to capitalize on evolving consumer preferences. This strategic diversification into beverage offerings, coupled with Hiyo’s focus on functional ingredients, signals growth potential and operational expansion, likely driving investor optimism. Other news, including regulatory scrutiny and a canceled concert, were either neutral or negative but did not outweigh the positive momentum from the Hiyo deal.