The following is a summary of the Madison Square Garden Sports Corp. (MSGS) Q4 2024 Earnings Call Transcript:

Financial Performance:

• MSG Sports reported revenues of over $1 billion and adjusted operating income of $172 million for fiscal 2024, marking record financial results.

• Quarterly revenues were significantly bolstered by playoff games, reaching $227.3 million compared to $126.9 million in the prior year period.

• Event-related revenues, including playoffs, surged 116% to $152.1 million.

• Direct operating expenses and SG&A expenses increased, reflecting higher game-related costs.

Business Progress:

• The Rangers acquired former Stanley Cup champion Reilly Smith, and the Knicks extended contracts for key players, bolstering team competitiveness.

• MSG Sports achieved high season ticket renewal rates and successfully introduced new merchandise partnerships and premium hospitality offerings.

• The company plans to expand the event level club space and renovate several suites to enhance guest experiences and drive revenue.

Opportunities:

• MSG Sports capitalized on robust local fan support, translating into strong season ticket sales and high per cap spending in arena.

• The new national media rights agreements for the NBA promise increased annual media rights revenue despite fewer exclusive local telecasts.

Risks:

• The changing landscape in regional sports networks, particularly the potential impact on MSG Networks due to reduced local game telecasts and significant debt maturity, poses a risk to local media rights revenue.

More details: Madison Square Garden Sports IR

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