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MSG Entertainment Earnings: Revenue Down 3% Without Harry Styles

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The company, which spun off in April, suffered a tough comparison to the prior-year quarter but has high expectations for the rest of 2023.

Madison Square Garden Entertainment had revenue of $142.2 million in the quarter ended Sept. 30, down 3% year over year, as it started its first full fiscal year as a standalone live entertainment company.from MSG’s Sphere and MSG Networks businesses in April, had lower event-related revenue and faced a tough comparison to the prior-year quarter.

“We’re currently on sale with more concerts at our venues than we were at this time last year for the second half of fiscal ’23,” said Byrnes, “and of those on-sales, a majority of those tickets are already sold, and sell-through on those shows is currently up high single-digit percentage as compared to the second half of fiscal ’23.”

 

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