What do Lady Gaga, New York Knicks point guard Jalen Brunson and Radio City’s Christmas Spectacular have in common? They helped make fiscal 2026 a record year for ticket sales for Madison Square Garden Entertainment’s (MSGE) live events, boosting profitability by 16%, the company reported on Wednesday (Aug. 12).
MSGE’s operating income, which measures profit minus expenses, rose 16% to $141.5 million, while adjusted operating income surged 18% to $262.2 million on substantial ticket sales for the company’s fiscal year ending June 30. Net income for the full year totaled $66.2 million, with diluted earnings per share (EPS) expanding to $1.38, compared to $0.77 in the previous fiscal year.
“Today’s results reflect the strong demand we continue to see for our live entertainment offerings,” executive chairman and CEO James Dolan said in a statement. “Looking ahead, we are well positioned to drive solid growth in adjusted operating income in fiscal ’27 and remain confident in our ability to deliver long-term shareholder value.”
Total revenue rose 13% to $1.11 billion for the year, driven by demand for the Christmas Spectacular shows, a doubling of concerts in the fiscal fourth quarter at the Garden and revenue related to the New York Knicks’ NBA Championship.
Performance was driven by high attendance and marquee events all year, the company said. Over fiscal 2026, MSGE venues — including the Garden, Radio City Music Hall, the Beekman and Chicago theaters — hosted 6.4 million guests at nearly 960 live events. The ever-popular Christmas Spectacular show, now in its 92nd season, reported record-setting revenues from 1.2 million tickets sold across 215 performances.
Fiscal fourth quarter revenue rose 27% to $196.3 million from entertainment offerings, including the final show of Lady Gaga’s record-setting Mayhem Ball tour, as well as higher food, beverage, and merchandise revenues. This helped to narrow MSGE’s operating loss significantly to $8.6 million, compared to $25.8 million a year ago, and yielded an adjusted operating income of $18.6 million for the quarter, as MSGE earned $7.4 million from its share in Knicks championship merch revenues earned by MSG Sports.
For the coming fiscal year, the company expects more event bookings and greater ticket revenues thanks to notable events like Harry Styles’ residency and the NCAA Men’s Basketball East Regionals, which it says will drive continued adjusted operating income and revenue growth.
In 2022, Styles played 15 shows at MSG between August and September 2022, which Billboard estimated grossed $63.1 million from 277,000 tickets sold, making it the highest-grossing headline engagement of any touring artist between 2022 and 2025. Starting later this month, Styles will play 30 shows at the Garden for his Together, Together tour.
