MSG Entertainment Reports Fiscal Year 2025 Results

By Bobby Samwell • Wednesday, August 13 10:35 • Permanent Link

Madison Square Garden Entertainment Corp. (MSG Entertainment) has reported its financial results for the fiscal year ended June 30, 2025, and the fourth quarter of the same year. The results reveal both positive and negative changes in various key metrics compared to the prior year.

For the fiscal year 2025, MSG Entertainment reported revenues of $942.7 million, showing a decrease of $16.5 million, or 2%, compared to the prior year. However, the company reported operating income of $122.1 million, representing an increase of $10.2 million, or 9%, compared to the prior year. Adjusted operating income for the fiscal year was $222.5 million, marking an increase of $11.0 million, or 5%, compared to the prior year.

In the fourth quarter of fiscal 2025, the company reported revenues of $154.1 million, a decrease of $31.9 million, or 17%, compared to the prior year quarter. The operating loss for the quarter was $25.8 million, reflecting an increase of $16.9 million compared to the prior year quarter. The adjusted operating income for the quarter decreased by $14.4 million to an adjusted operating loss of $1.3 million, compared to adjusted operating income of $13.1 million in the prior year quarter.

The fourth quarter revenues from entertainment offerings decreased by $24.1 million, or 17%, primarily due to lower event-related revenues and a decrease in revenues subject to the sharing of economics with Madison Square Garden Sports Corp. The decrease in event-related revenues was attributed to lower revenues from concerts and a decrease in revenues from the sharing of economics with MSG Sports.

The food, beverage, and merchandise revenues for the fourth quarter decreased by $8.3 million, or 24%, primarily due to lower sales at Knicks and Rangers games and lower sales at concerts.

MSG Entertainment also highlighted a decrease in selling, general, and administrative expenses for the fourth quarter, with a 7% increase compared to the prior year quarter.

Overall, the company's fiscal 2025 results reflect a mixed performance, with a decrease in revenues but an increase in operating income. MSG Entertainment's CEO, James L. Dolan, expressed confidence in the company's momentum continuing into fiscal 2026, anticipating solid revenue and adjusted operating income growth in the year ahead.

Today the company's shares have moved 3.31% to a price of $40.22. For more information, read the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.