Bernstein predicts the FIFA 2026 World Cup will catalyze unprecedented global attention for U.S. live events. Analyst Ian Moore sees this as a pivotal moment, where the tournament will elevate sports engagement and create spillover effects across the live entertainment industry. This shift is part of a broader consumer spending trend, with traditional entertainment formats like cinemas and linear television losing ground to live events.

The World Cup is expected to highlight the scarcity value of live platforms with deeply engaged fan bases. This aligns with a structural shift in consumer entertainment preferences. Moore views the tournament as just the beginning, setting the stage for even larger global events, including the Los Angeles Olympics. This backdrop suggests a long-term trend rather than a temporary spike.

Moore recommends "overweight exposure" to U.S. live entertainment stocks, upgrading Liberty Formula One to Outperform. He notes that 2026 presents multiple tailwinds for the company, including favorable deal-making and improved race economics. The analyst also sees Formula One as a potential acquisition target, given its global appeal and the scarcity of similar assets.

For Live Nation and TKO, Moore is optimistic about their prospects. Live Nation's success will hinge on its touring pipeline, while TKO is expected to benefit from media rights revenues and partnership revisions. The World Cup year is likely to amplify these trends, making live sports assets more valuable and attractive for investors.