From Music Business Worldwide · · 1m 40s
Harry Styles Residency Boosts MSG Revenues
Harry Styles' 30-night residency at Madison Square Garden drove 37% revenue growth to $217M for MSG Entertainment in Q3.
In brief
Harry Styles' 30-night residency at Madison Square Garden drove 37% revenue growth to $217M for MSG Entertainment in Q3. Harry Styles' 30-night residency at Madison Square Garden generated 37% higher revenues to $217 million for MSG Entertainment in calendar Q3. Originally reported by Music Business Worldwide.
Q3 Revenues
MSG Entertainment generated $217.1 million in calendar Q3 revenues, up 37% year-over-year.
Record Concerts
The quarter set a new record for the number of concerts held at Madison Square Garden in any single quarter.
Harry Styles Residency
Harry Styles opened a 30-night residency at Madison Square Garden on August 26, with 16 shows falling within the Q3 quarter.
CFO Statement
MSG CFO David Collins stated 16 of Harry Styles' shows occurred in Q3, a little over half of the 30-night run.
Other Residencies
Bon Jovi and Phish also played residencies at the Garden in July, within the same quarter.
Future Residencies
MSG plans to discuss future artist residencies at all venues, including Madison Square Garden, for fiscal 2028 and beyond.
Concert Attendance
MSG hosted over 1.3 million guests across 160 live events during the quarter, including Harry Styles' residency.
Revenue Breakdown
Concert revenues rose $30.1 million YoY, food and beverage sales increased $12.5 million, and merchandise revenue rose 56% to $35.7 million.
Financial Results
Adjusted operating income rose to $34.3 million from $7.1 million, and net income reached $8.9 million (including a $6.6 million tax benefit).
CEO Statement
MSG CEO James Dolan stated the business is off to a strong start in fiscal 2027 with healthy demand for live entertainment.
The key point
Harry Styles' 30-night residency at Madison Square Garden generated 37% higher revenues to $217 million for MSG Entertainment in calendar Q3.
