Madison Square Garden Sports Corp. (NYSE:MSGS) Q4 2023 Earnings Call Transcript

So it’s a positive impact. And I think as we’ve talked about in the past that a playoff run, we believe, has a positive carry-forward effect into future fiscal period.

David Joyce: Great. That’s helpful. Thanks. And if you could also talk about the pacing [Indiscernible].

Ari Danes: Sorry, David, you’re breaking up on — can you repeat that question? I heard pacing.

David Joyce: Yes, the pacing on other types of ticketing packages or individual ticketing sales for the upcoming season, how is that pacing?

David Hopkinson: Sure. We’re really bullish on where we are at the moment. As I mentioned in my prepared remarks, the combined average renewal rate of our season ticket packages is 93% right now, and that’s continuing to rise. With respect to pacing last year at this time, we were about 91%. So pacing ahead. And I want to remind you, that is on a larger renewal base of tickets and includes season ticket price increases for both teams. Season tickets represent a majority of our ticketing revenue for each team. As we look ahead to individual tickets, group sales, we’re still really early in the sales cycle. In fact, we haven’t placed individual games or groups on sale for the Knicks yet because the NBA schedule is just set to be released later on today.

But we are in the market with the Rangers, and both groups and individual ticket sales are pacing ahead of this time last year. So, we feel we’ve got really good tailwinds, strong momentum and ahead of our pacing from last year, which was a record.

David Joyce: All right. Thank you very much.

Operator: And this concludes our question-and-answer session. Mr. Ari Danes. I turn the call back over to you for some final closing remarks.

Ari Danes: Thank you all for joining us. We look forward to speaking with you on our next earnings call. Have a good day.

Operator: This concludes today’s conference call. Thank you for your participation. You may now disconnect.