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Madison Square Garden Sports Corp. (NYSE: MSGS) is a preeminent professional sports company based in New York, New York, with a rich heritage dating back to its founding in 1879. The company's esteemed portfolio includes marquee sports teams such as the New York Knicks of the NBA, the New York Rangers of the NHL, as well as developmental league teams like the Westchester Knicks in the NBA G League and the Hartford Wolf Pack in the AHL. Additionally, MSG Sports is involved in the burgeoning esports sector, owning the Knicks Gaming franchise.
The company operates top-tier training facilities, including the Madison Square Garden Training Center in Greenburgh, New York, and the CLG Performance Center in Los Angeles, California. These state-of-the-art centers are pivotal in enhancing the performance of its athletes and teams.
MSG Sports is also heavily invested in live entertainment through its segment MSG Entertainment, which manages and produces a diverse array of events including concerts, family shows, and special events at iconic venues like Madison Square Garden.
Financially, the company reported revenues of $887.4 million for fiscal 2023, reflecting an 8% increase year-over-year, showcasing strong consumer and corporate demand. Despite a challenging final quarter due to fewer home games, MSG Sports remains robust with continued growth in key revenue categories such as tickets, media rights, suites, sponsorships, and merchandise.
In terms of recent developments, MSG Sports has entered into a notable partnership with Beyond Meat, Inc., introducing plant-based products at the Madison Square Garden, thus emphasizing its commitment to sustainability and diversified food offerings for fans.
Looking ahead, with the 2023-24 seasons underway for both the Knicks and Rangers, MSG Sports anticipates continued positive momentum. The company has seen impressive season ticket renewal rates and robust new sales activity. MSG Sports is poised to leverage these strong fundamentals to create long-term shareholder value.
Madison Square Garden Sports Corp. (NYSE: MSGS) will hold a conference call on May 5, 2022, at 10:00 a.m. Eastern Time, to discuss its fiscal third-quarter results for the period ending March 31, 2022. A press release will be issued before the market opens. Participants can join via telephone by dialing 833-942-2482 and using conference ID 4339507. A recording of the call will be available from 1:00 p.m. ET on May 5 until 11:59 p.m. ET on May 12, 2022, and will also be accessible through a webcast.
Madison Square Garden Sports Corp. (NYSE: MSGS) has announced a multi-year marketing partnership with Evolve IP, designating them as an Official Partner of the New York Rangers. Evolve IP will gain significant brand exposure during Rangers games at Madison Square Garden through various media, including virtual signage and LED messaging. MSGS will also utilize Evolve IP's communication services internally. This partnership aims to enhance day-to-day communications for MSGS and elevate the operational efficiency for both organizations.
The New York Knicks and Squarespace announced the winners of the fifth annual 'Make It Awards,' providing four entrepreneurs with
DoorDash has been named the Official On-Demand Delivery Platform for the New York Knicks and related teams. The partnership includes joint initiatives like 'Donation Dash' aimed at combating childhood hunger, with significant contributions planned based on the team's performance. As part of this collaboration, DoorDash's visibility will increase through various digital assets and in-game activations at Madison Square Garden, enhancing brand exposure. The Knicks' community efforts can potentially provide up to 400,000 meals for those facing food insecurity this season.
Madison Square Garden Sports Corp. (NYSE: MSGS) has announced a marketing partnership with Future, a digital fitness coaching service, naming it the Official Fitness Coaching Partner of the New York Knicks. As part of the collaboration, Future will present a digital content series highlighting the role of the Knicks' strength and conditioning staff. Brand promotions for Future will occur during Knicks games at Madison Square Garden, including LED signage and in-game features. Both organizations aim to enhance fan engagement and promote accessible fitness coaching.
Madison Square Garden Sports Corp. (NYSE: MSGS) reported FY2022 Q2 revenues of $289.6 million, a significant rise from $28.8 million in the previous year. Operating income reached $35.9 million, up $74.3 million year-over-year, while adjusted operating income improved to $55.7 million. The company benefited from the return of fans to The Garden, leading to increased ticket sales and media rights fees. Comparatively, the prior year saw significant restrictions due to COVID-19. The positive momentum is expected to continue throughout the fiscal year.
Madison Square Garden Sports Corp. (NYSE: MSGS) will hold a conference call on February 3, 2022, at 10:00 a.m. Eastern Time to discuss its fiscal second-quarter results ending December 31, 2021. A press release detailing these results will be issued before market open. Participants can join the call by dialing 833-942-2482 with conference ID 6569519, or access it via webcast at investor.msgsports.com. A recording will be available until February 10, 2022.
The New York Rangers have launched their first-ever NFT products ahead of Henrik Lundqvist Night, scheduled for January 28, 2022. Starting today at 10 a.m., fans can bid on or purchase over 5,000 limited edition items through Rangers.dropshop.io. The auction ends on January 25, while the 'buy now' option concludes on January 30. NFT tiers include 'Common' for $20, 'Rare' which includes merchandise starting at $200, and 'Legendary' featuring lower bowl tickets and autographed memorabilia starting at $1,000. This initiative aims to enhance fan engagement through digital collectibles.
Madison Square Garden Sports Corp. (MSGS) and Madison Square Garden Entertainment Corp. (MSGE) announced a multi-year renewal of their marketing partnership with Mattress Firm, expanding its role as the Official Sleep Partner of teams like the New York Knicks and New York Rangers. This partnership includes co-branded sweepstakes for game experiences and extensive brand integration at events. Mattress Firm aims to promote sleep health through initiatives, including courtside LED signage and digital content features, further solidifying their commitment to community wellness.
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