Company Overview of MSG Entertainment
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
Key Executives for MSG Entertainment
Senior Vice President of Marketing Partnerships
Compensation as of Fiscal Year 2016.
MSG Entertainment Key Developments
MSG Entertainment Announces Unaudited Earnings Results for the Fourth Quarter Ended June 30, 2016
Aug 19 16
MSG Entertainment announced unaudited earnings results for the fourth quarter ended June 30, 2016. For the fiscal 2016 fourth quarter as compared to the prior year period, revenues of $84.0 million decreased 10%. The decrease was primarily due to lower revenues for the production, now called New York Spectacular Starring the Radio City Rockettes, and the absence of a $3.6 million insurance recovery recorded in the prior year quarter related to lost revenues due to Superstorm Sandy for the Christmas Spectacular Starring the Radio City Rockettes. Fiscal 2016 fourth quarter operating loss of $17.9 million increased by $9.5 million and AOCF loss of $13.2 million increased by $8.6 million. The increase in operating loss and AOCF loss primarily reflects the decrease in revenue and higher selling, general and administrative expenses, partially offset by lower direct operating expenses.
MSG Entertainment Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended March 31, 2016
May 6 16
MSG Entertainment announced unaudited earnings results for the third quarter and nine months ended March 31, 2016. For the quarter, the company reported Revenue was $73.2 million against $61.6 million a year ago. Negative adjusted operating cash flow was $53.4 million against $11.2 million a year ago. Operating loss was $58.4 million against $14.4 million a year ago. Excluding the write-off, fiscal 2016 third quarter AOCF loss would have been $11.6 million, an increase of 4%, and operating loss would have been $16.6 million, an increase of 15%, both as compared to the prior year quarter. The increase in AOCF loss (excluding the write-off) as compared to the prior year quarter reflects higher selling, general and administrative expenses and, to a lesser extent, direct operating expenses, offset by the increase in revenues.
For the nine months, the company reported Revenue was $331.35 million against $32.93 million a year ago. Adjusted operating cash flow was negative to $1.405 million against positive to $45.77 million a year ago. Operating loss was $14.47 million against income of $14.4 million a year ago.
MSG Entertainment Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended December 31, 2015
Feb 4 16
MSG Entertainment reported unaudited earnings results for the second quarter and six months ended December 31, 2015. For the quarter, revenues were $183.834 million against $194.125 million a year ago. Operating income was $45.515 million against $54.419 million a year ago. Adjusted operating cash flow was $50.143 million against $57.861 million a year ago. The decrease in results was primarily due to the absence of approximately $14.1 million in revenue from the theatrical productions of the Radio City Christmas Spectacular presented outside New York (which the company made the decision to end after the 2014 holiday season) and, to a lesser extent, a decrease in overall event-related revenues at the Company's venues. This decrease was partially offset by higher ad sales commission, venue-related sponsorship and signage and suite rental fee revenues, as well as higher revenues from the New York production of the Radio City Christmas Spectacular. The decrease in AOCF and operating income primarily reflects an increase in selling, general and administrative expenses and the absence of approximately $4.5 million in direct contribution to AOCF from the theatrical productions of the Radio City Christmas Spectacular presented outside New York, partially offset by other net increases.
For the six months, revenues were $260.860 million against $259.360 million a year ago. Operating income was $45.158 million against $50.035 million a year ago. Adjusted operating cash flow was $53.276 million against $56.957 million a year ago.
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