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Madison Square Garden: Can Partnerships, Media Rights & Premium Upgrades Sustain the Next Revenue Cycle?

Madison Square Garden Sports Corp reported its fiscal second quarter 2026 results, showcasing a mixed performance across various operational and financial metrics. The company revealed total revenues of approximately $403 million and an adjusted operating income (AOI) of about $30 million. These figures indicate a positive trend in revenue generation, primarily driven by increased per-game revenues from ticket sales, suites, sponsorship, and merchandise compared to the prior year’s second quarter. One of the highlights of the quarter was the robust demand for Knicks and Rangers games, demonstrated by a 94% season ticket renewal rate for both teams. MSG Sports also achieved growth in all in-game revenue categories, including a year-over-year rise in per-game ticketing revenue. This success can be attributed in part to the effects of the NBA’s new national media rights deals and the company’s efforts to enhance fan engagement through partnerships with unique brands and special promotional events.