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Jun 30, 2021
MSG Sports Q4 2021 Earnings Report
MSG Sports reported Q4 2021 results, highlighted by the Knicks’ return to the NBA playoffs and increased revenues due to eased capacity restrictions and the timing of the NBA and NHL seasons.
Key Takeaways
MSG Sports reported a significant increase in revenues for the fourth quarter of fiscal year 2021, driven by the return of fans to games with eased capacity restrictions, the Knicks' playoff appearance, and the timing of the NBA and NHL seasons. The company's operating loss and adjusted operating loss also improved compared to the prior year quarter.
Revenues increased to $146.9 million compared to negative revenues of $7.0 million in the prior year quarter.
Operating loss improved by 54% to $20.8 million, and adjusted operating loss improved by 83% to $5.8 million.
The increase in revenue was primarily driven by higher league distributions, local media rights fees, sponsorship and signage revenues, playoff-related revenues, and regular season ticket-related revenues.
As of June 30, 2021, the Company had $309.9 million of liquidity.
Forward Guidance
MSG Sports anticipates building on the enthusiasm from fans in the 2021-2022 season as they prepare for capacity crowds and full 82-game seasons.
Positive Outlook
- Robust season ticket renewals
- Strong momentum on the marketing partnership front
- Enthusiasm from Knicks’ and Rangers’ fans
- Preparation for capacity crowds
- Full 82-game seasons
Historical Earnings Impact
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