Revenue declined 17% YoY to $154.1 million.
The company reported an operating loss of $25.8 million, compared to an $8.9 million loss in the same period last year.
These losses were due primarily to lower event-related revenues from concerts, stemming from a decrease in the number of shows at Madison Square Garden Arena, and lower per-concert revenues.
As per Digital Music News, the end of Billy Joel’s MSG residency was partially responsible for the dip in show quantity.
These losses were offset slightly by a YoY increase in shows at MSGE’s theaters, thanks in part to a record number of concerts at its Radio City Music Hall venue.
Adjusted operating income registered a loss of $1.3 million, compared to a positive $13.1 million in the same 2024 quarter.
