Madison Square Garden Sports Corp. reports developments tied to its professional sports portfolio, including the New York Knicks of the NBA and the New York Rangers of the NHL. The company also owns development league teams, the Westchester Knicks and Hartford Wolf Pack, and operates the MSG Training Center.
Recurring news themes include fiscal results shaped by games played at Madison Square Garden Arena, ticketing, suites, sponsorships, food, beverage and merchandise sales, league distributions and media rights fees. Company updates also cover official team and arena partnerships, changes in finance leadership, capital-structure matters and governance developments related to the publicly traded sports business.
The New York Knicks and Squarespace announced the winners of the fifth annual 'Make It Awards,' providing four entrepreneurs with $30,000 grants and marketing resources to enhance their businesses. The winners, including Adapt Ability, Harlem Pilates, Legally BLK Fund, and COVERR, were recognized for their community impact. Each recipient gains a one-year Squarespace subscription, marketing assets, and exposure through MSG Networks. This initiative honors Squarespace founder Anthony Casalena's early investment in his company, aiming to empower local creators and promote economic growth.
DoorDash has been named the Official On-Demand Delivery Platform for the New York Knicks and related teams. The partnership includes joint initiatives like 'Donation Dash' aimed at combating childhood hunger, with significant contributions planned based on the team's performance. As part of this collaboration, DoorDash's visibility will increase through various digital assets and in-game activations at Madison Square Garden, enhancing brand exposure. The Knicks' community efforts can potentially provide up to 400,000 meals for those facing food insecurity this season.
Madison Square Garden Sports Corp. (NYSE: MSGS) has announced a marketing partnership with Future, a digital fitness coaching service, naming it the Official Fitness Coaching Partner of the New York Knicks. As part of the collaboration, Future will present a digital content series highlighting the role of the Knicks' strength and conditioning staff. Brand promotions for Future will occur during Knicks games at Madison Square Garden, including LED signage and in-game features. Both organizations aim to enhance fan engagement and promote accessible fitness coaching.
Madison Square Garden Sports Corp. (NYSE: MSGS) reported FY2022 Q2 revenues of $289.6 million, a significant rise from $28.8 million in the previous year. Operating income reached $35.9 million, up $74.3 million year-over-year, while adjusted operating income improved to $55.7 million. The company benefited from the return of fans to The Garden, leading to increased ticket sales and media rights fees. Comparatively, the prior year saw significant restrictions due to COVID-19. The positive momentum is expected to continue throughout the fiscal year.
Madison Square Garden Sports Corp. (NYSE: MSGS) will hold a conference call on February 3, 2022, at 10:00 a.m. Eastern Time to discuss its fiscal second-quarter results ending December 31, 2021. A press release detailing these results will be issued before market open. Participants can join the call by dialing 833-942-2482 with conference ID 6569519, or access it via webcast at investor.msgsports.com. A recording will be available until February 10, 2022.
The New York Rangers have launched their first-ever NFT products ahead of Henrik Lundqvist Night, scheduled for January 28, 2022. Starting today at 10 a.m., fans can bid on or purchase over 5,000 limited edition items through Rangers.dropshop.io. The auction ends on January 25, while the 'buy now' option concludes on January 30. NFT tiers include 'Common' for $20, 'Rare' which includes merchandise starting at $200, and 'Legendary' featuring lower bowl tickets and autographed memorabilia starting at $1,000. This initiative aims to enhance fan engagement through digital collectibles.
Madison Square Garden Sports Corp. (MSGS) and Madison Square Garden Entertainment Corp. (MSGE) announced a multi-year renewal of their marketing partnership with Mattress Firm, expanding its role as the Official Sleep Partner of teams like the New York Knicks and New York Rangers. This partnership includes co-branded sweepstakes for game experiences and extensive brand integration at events. Mattress Firm aims to promote sleep health through initiatives, including courtside LED signage and digital content features, further solidifying their commitment to community wellness.
The New York Knicks and Squarespace have launched the fifth annual “Make It Awards,” providing grants and marketing assets to aid local businesses. Four businesses will be awarded a $30,000 grant along with a year of Squarespace subscription and marketing resources. The application window is open until February 10, 2022. Since its inception in 2018, the initiative has awarded nearly $500,000 in grants to support community entrepreneurs. The winners will be announced in March.
MSG Sports and Anheuser-Busch have renewed their multi-year marketing sponsorship, enhancing brand visibility across MSG assets, including the New York Knicks and New York Rangers. The deal features the launch of the “Michelob ULTRA Courtside” experience, allowing fans to win exclusive game tickets. Furthermore, Anheuser-Busch will be the Presenting Partner of the historic Blue Seats Section at Madison Square Garden and will collaborate with esports properties, enhancing engagement with fans through Twitch livestreams. In-game LED messaging and other marketing integrations are included.
MSG Entertainment (NYSE:MSGE) has appointed Deirdre Latour as the new Executive Vice President and Chief Communications Officer, starting January 3. With over 25 years of experience, she will manage all external communications for MSG Entertainment and MSG Sports (NYSE:MSGS). Latour replaces Kimberly Kerns, who is leaving after a decade of service. This transition aims to enhance the company's strategic communications as it continues its growth in the live entertainment sector, including the MSG Sphere project in Las Vegas.