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Harry Styles Helps Madison Square Garden Entertainment Revenue Surge 37%
Developing story first seen 2 hours ago
MSGE reported that revenue rose 37% to $217 million in its fiscal first quarter, with concerts adding about $30 million. Harry Styles’ sold-out Madison Square Garden residency contributed to the increase, alongside a higher number of concerts, showing continued demand for live events despite a more subdued market than in the post-pandemic boom.
The quarter ended on 30 September, with 16 of Styles’ 30 New York shows taking place during it. Entertainment revenue increased 33% to $174.9 million, while food, drink and merchandise revenue rose 56% to $35.7 million; adjusted operating income grew by $27.2 million to $34.3 million. Concert-related operating costs also increased.
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In short
- MSGE’s first-quarter revenue climbed 37% to $217 million.
- Concerts contributed about $30 million, including Styles’ residency.
- Adjusted operating income rose to $34.3 million.
How this story developed
- 2 minutes ago Madison Square Garden Entertainment (MSGE) said fiscal first-quarter revenue rose 37% to $217 million, helped by more concerts and Harry Styles’ sold-out residency at Madison Square Garden.
- 10 minutes ago MSGE reported that revenue rose 37% to $217 million in its fiscal first quarter, with concerts adding about $30 million.
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