I am upgrading Madison Square Garden Entertainment to a buy as FY26 bookings and concert demand are rebounding faster than anticipated, improving growth visibility. Management has nearly secured 80% of The Garden's 2026 bookings and is planning a new residency to fill the Billy Joel gap. Consumer demand is robust, with strong sell-through rates, rising per capita spending, and record Christmas Spectacular performance supporting MSGE's high-margin growth.
Madison Square Garden Entertainment Still Filling Seats, But I Wouldn't Buy Here
Disgraced hip hop mogul Sean "Diddy" Combs is hoping to make a comeback to music with a concert at Madison Square Garden, his lawyer has said.
SLG's securing of a new lease with Sigma Computing at One Madison Avenue highlights healthy demand for its properties.
I am downgrading Madison Square Garden Entertainment from buy to hold due to visible near-term weakness in concert bookings and uncertainty in replacing the Billy Joel residency. Despite strong consumer demand for premium live entertainment, 2H25 bookings are weak, and 1Q26 trends, though better, remain uncertain. MSGE's revenue from sponsorships and premium hospitality is growing, but this won't offset the decline in high-margin event-related revenue.
SLG secures a lease expansion from IBM at One Madison Avenue, showcasing the tech giant's confidence in its world-class office assets.
New York-based Omnicom competes with the Interpublic and UK's WPP, and is one of the world's biggest integrated advertising and communications firms with more than 5,000 customers.
SLG announces loan modification and extension of the mortgage facility on One Madison Avenue.
Despite near-term demand challenges, I remain confident in MSGE's medium-term demand outlook, supported by strong leading indicators and positive underlying demand. MSGE's latest earnings showed a slight revenue decline but beat expectations on adjusted operating income due to a better cost structure. Positive indicators include sold-out concerts, strong demand for premium suites, and potential growth in non-concert events like UFC and the Tony Awards.
Former US Ambassador to Switzerland Ed McMullen discusses former President Donald Trump's rally at Madison Square Garden, addressing incendiary rhetoric used by speakers at the event as well as Donald Trump's economic plan on "Bloomberg Surveillance." -------- More on Bloomberg Television and Markets Like this video?
Donald Trump's decision to hold a rally at Madison Square Garden, in the heart of Manhattan, nine days before US voters go to the polls has been compared to the 1939 pro-Nazi German American Bund. Is this a fair comparison?
Shares of Trump Media & Technology Group are up 7% in premarket trades.