MSG Sees Revenue Uptick
Sports revenue more than doubled – thanks in part to the end of last year’s NHL strike – to help Madison Square Garden Co. increase fiscal second-quarter profit by 29 percent, according to financial reports released by the company Feb. 7.
Entertainment business revenue rose 8 percent to $163.1 million, with increased revenue for the Radio City Christmas Spectacular and higher event revenue at the Beacon Theatre and The Theatre at Madison Square Garden.
For the quarter ended Dec. 31, MSG reported a and the
The return to a full hockey schedule, as well as higher affiliation rates, also aided revenue at MSG Media, which includes MSG Networks and rose 15 percent to $180.7 million.
The sports segment’s revenue more than doubled at $183.4 million, mostly thanks to higher ticket-related revenue, suite rentals, food and beverage, and merchandise sales.
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