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August 30, 2015 3:36 AM ET

Media

Company Overview of MSG Entertainment

Company Overview

MSG Entertainment creates, produces and presents live productions and offers entertainment marketing services. It also presents or hosts other live entertainment events such as concerts, family shows and special events. The company is based in New York, New York. MSG Entertainment operates as a subsidiary of The Madison Square Garden Company.

Two Pennsylvania Plaza

New York, NY 10121-0091

United States

Key Executives for MSG Entertainment

Senior Vice President of Marketing Partnerships
Compensation as of Fiscal Year 2015.

MSG Entertainment Key Developments

MSG Entertainment Reports Unaudited Earnings Results for Third Quarter and Nine Months Ended March 31, 2015

MSG Entertainment reported unaudited earnings results for third quarter and nine months ended March 31, 2015. For the quarter, the company’s revenues were $61.6 million against $52.8 million a year ago. Adjusted operating cash flows used in was $13.4 million against $20.2 million a year ago. Operating loss was $16.8 million against $24.2 million a year ago. The increase in revenue was primarily due to the opening of New York Spring Spectacular, higher event-related revenues at The Garden and the Beacon Theatre, and higher venue-related sponsorship and signage and suite rental fee revenues. This increase was partially offset by lower event-related revenues at The Theater at Madison Square Garden. The increase in AOCF and operating loss was due to the increase in revenues, partially offset by an increase in direct operating and selling, general and administrative expenses. This increase was partially offset by a small decrease in expenses for New York Spring Spectacular. The decrease for New York Spring Spectacular reflects $9.5 million in expenses recorded in the prior year quarter, primarily related to the acceleration of marketing costs due to the postponement of last year's planned run until the current fiscal year. This was largely offset by costs in the current quarter associated with the production's initial performances, including preview shows, which began on March 12, 2015. For the nine months, the company’s revenues were $320,926,000 against $244,510,000 a year ago. Adjusted operating cash flows were $38.3 million against $7.1 million a year ago. Operating income was $27.3 million against loss of $4.4 million a year ago.

MSG Entertainment Announces Earnings Results for First Quarter Ended September 30, 2014

MSG Entertainment announced earnings results for first quarter ended September 30, 2014. For the quarter, the company reported revenues of $65.20 million, adjusted operating cash outflow of $4.40 million, operating loss of $8.20 million compared to the revenues of $28.60 million, adjusted operating cash outflow of $15 million, operating loss of $18.40 million for the same quarter a year ago. The increase in revenue was primarily due to higher event-related revenues, as well as higher venue-related sponsorship and signage and suite rental fee revenues at The Garden, the Forum and The Theater at Madison Square Garden, partially offset by lower event-related revenues at Radio City Music Hall.

MSG Entertainment Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended March 31, 2014

MSG Entertainment reported unaudited earnings results for the third quarter and nine months ended March 31, 2014. For the quarter, the company’s revenue was $52,785,000 against $35,491,000 for the same period in the last year. The increase was primarily due to higher event-related revenues at The Garden (primarily due to more events, mainly additional MSG Entertainment-promoted events), event-related revenues at the Forum (which re-opened on January 15, 2014) and higher venue-related sponsorship and signage and suite rental fee revenues. This was partially offset by lower event-related revenues at Radio City Music Hall, which was unavailable for events for the majority of the quarter due to the load-in and rehearsal of the company's new, large-scale theatrical production, which was subsequently postponed until 2015. Negative adjusted operating cash flow (AOCF) was $20,200,000 against $13,078,000 for the same period in the last year. Operating loss was $24,186,000 against $17,102,000 for the same period in the last year. Negative AOCF and operating loss due to an increase in direct operating expenses and, to a lesser extent, an increase in selling, general and administrative expenses, largely offset by the increase in revenues. For the nine months, the company’s revenue was $244,510,000 against $217,390,000 for the same period in the last year. Adjusted operating cash flow was $7,110,000 against $4,399,000 for the same period in the last year. Operating loss was $4,412,000 against $6,904,000 for the same period in the last year.

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