MSGE Posts Record $1.11 Billion Year as Gaga, Knicks and Christmas Spectacular Pack the Garden
Madison Square Garden Entertainment pulled in $1.11 billion in revenue for fiscal 2026 — a 13% rise and the highest annual total in the company's history, driven by ticket sales across its live events portfolio. The company reported the results on August 12, 2026, covering the fiscal year that ended June 30. Billboard
Operating income climbed 16% to $141.5 million, while adjusted operating income — a measure that strips out one-off items like asset sales and restructuring costs — rose 18% to $262.2 million. Net income came in at $66.2 million, with diluted earnings per share of $1.38, up from $0.77 the prior year. MSGE Corporate Newsroom
The year had several engines. The Radio City Christmas Spectacular, now in its 92nd season, sold 1.2 million tickets across 215 performances for record-setting revenues. Concerts at the Garden doubled in the fiscal fourth quarter, capped by the final show of Lady Gaga's Mayhem Ball tour, which played the venue on March 19, March 20 and April 13, 2026. And the New York Knicks' NBA Championship run brought championship merchandise revenue into MSGE's books — $7.4 million in the fourth quarter alone from the company's share of sales earned by MSG Sports, the separately traded entity that owns the team.
The fourth quarter told its own story. Revenue jumped 27% to $196.3 million, a $42.2 million increase year over year. The quarterly operating loss narrowed sharply, from $25.8 million to $8.6 million, and adjusted operating income reached $18.6 million.
Across the full year, MSGE's venues — Madison Square Garden, Radio City Music Hall, the Beekman Theatre and the Chicago Theatre among them — hosted 6.4 million guests at nearly 960 live events.
What stands out in these numbers is how much of the growth came from the building itself being booked. A championship basketball run, a pop star's arena residency and a nine-decade-old holiday show each pulled their weight, and none required a new acquisition or a pivot in strategy.
Executive chairman and CEO James Dolan said the results reflect strong demand for live entertainment and told investors the company expects solid adjusted operating income growth in fiscal 2027. Billboard
Two events are already on the calendar to support that forecast: Harry Styles' 30-show Together, Together residency at the Garden and the NCAA Men's Basketball East Regionals. Both fall within the fiscal 2027 window that runs through June 2027.
For the crews, stagehands, box-office staff and vendors who work MSGE's buildings, a billion-dollar year is a signal that the calendar is full. The 6.4 million people who walked through the turnstiles are the reason the line items move.
