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How Madison Square Garden Entertainment (MSGE) makes money
Madison Square Garden Entertainment (MSGE) made $217M of revenue in the first quarter fiscal 2027 (Q1 FY27), +37% from a year earlier. Entertainment and Food, Beverage And Merchandise Revenues brought in $211M (97%); Arena license fees and other leasing revenue brought in $6.6M (3%). Of every dollar of revenue, 4¢ was left as operating profit, 4¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q1 FY27
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Entertainment and Food, Beverage And Merchandise Revenues | $211M | 97.0% | — | +37% |
| ↳ Ticketing and venue license fee revenues | $127M | 58.5% | — | +48% |
| ↳ Sponsorship and signage, suite license, and advertising commission revenues | $46.3M | 21.3% | — | +5% |
| ↳ Food, Beverage and Merchandise Revenues | $35.7M | 16.4% | — | +56% |
| ↳ Other | $1.6M | 0.7% | — | +3% |
| Arena license fees and other leasing revenue | $6.6M | 3.0% | — | +60% |
Where each dollar of revenue goes
| Line | Q1 FY27 | % of revenue |
|---|---|---|
| Revenue | $217M | 100.0% |
| Operating profit | $9.7M | 4.5% |
| Net earnings | $8.9M | 4.1% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q1 FY27 | $217M | +37% |
| Q4 FY26 | $271M | +76% |
| Q3 FY26 | $246M | +2% |
| Q2 FY26 | $460M | +13% |
| Q1 FY26 | $158M | +14% |
| Q4 FY25 | $154M | -17% |
| Q3 FY25 | $242M | +6% |
From Madison Square Garden Entertainment's 10-Q filed Nov 4, 2026 (on EDGAR).
Questions
How does Madison Square Garden Entertainment make money?
Madison Square Garden Entertainment (MSGE) made $217M of revenue in the first quarter fiscal 2027 (Q1 FY27), +37% from a year earlier. Entertainment and Food, Beverage And Merchandise Revenues brought in $211M (97%); Arena license fees and other leasing revenue brought in $6.6M (3%). Of every dollar of revenue, 4¢ was left as operating profit, 4¢ was left as net earnings.
What is Madison Square Garden Entertainment's biggest business?
Entertainment and Food, Beverage And Merchandise Revenues: $211M in the first quarter fiscal 2027, 97% of revenue, +37% from a year earlier.
What is Madison Square Garden Entertainment's profit margin?
Net earnings were $8.9M, 4.1% of revenue, in the first quarter fiscal 2027; the operating margin was 4.5%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.