What does MSG networks — event-related expenses mean?

Captures the direct costs incurred in the production, promotion, and execution of live events or specific media broadcasts within the segment. These expenses are variable in nature and fluctuate based on the volume and scale of event activity.

Sphere Entertainment (SPHR) MSG Networks — Event-related expenses

Screener

Similar metrics at other companies

LILALiberty Networks — Network-related

$12.7M+8.5%

VENUEvent Center Expenses

$717.72K-0.9%

MSGSSingle Operating Segment — Marketing And Event-Related Expenses

$20.51M-4.5%

SUICatastrophic event-related charges, net

$300K-94.9%

LILALiberty Networks — Service-related

$6.3M+142%

CHDNRacing event-related services — Net revenue

$192M+11.3%

Other financials

Income statement

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Revenue$386.4M+37.7%

Operating income$7.2M+109%

Net income$4.5M+105%

EPS (diluted)-$0.04+98.2%

Balance sheet

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Cash & equivalents$630.2M+31.8%

Total debt$938.4M-35.8%

Total equity$2.2B+4.9%

Total assets$4.2B-5.1%

Cash flow

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Operating cash flow$136.2M+2,046%

CapEx$4.9M-72.1%

Free cash flow$131.4M+1,279%

Valuation

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Market cap$5.54B+262%

Enterprise value$5.85B+168%

P/E46.2×—

P/S4.2×+2.6×

Profitability

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Operating margin-28.1%-4.3pp

Net margin9%+5.2pp

FCF margin25.2%+15.7pp

Returns & leverage

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Return on equity5.5%+3.2pp

Debt / equity0.4×-0.3×

Current ratio1.2×+0.7×

Where this comes from

Reported directly by Sphere Entertainment in its filing.

Tagged under the XBRL concept sphr:EventRelatedExpenses.

The source filing: Sphere Entertainment’s 10-Q, filed May 5, 2026.

Filed: May 5, 2026, 5:23 PM EDT
Fiscal quarter: Q1 FY2026
Calendar quarter: Q1 2026
Accession: 0001628280-26-030740

Line item	Three Months Ended / Sphere	Three Months Ended / MSG Networks	Three Months Ended / Total
Revenues	$265,965	$120,447	$386,412
Operating expenses:
Event-related expenses (a)	94,426	—	94,426
Rights fee expense	—	50,646	50,646
Network programming and production costs	—	19,775	19,775
Other direct operating expenses (a)	4,800	—	4,800
Overhead expenses(b)	106,596	15,107	121,703
Other segment expenses(c)	85,026	2,834	87,860

Item 1. Financial Statements

FAQ

What is Sphere Entertainment's MSG networks — event-related expenses?: Sphere Entertainment (SPHR) reported MSG networks — event-related expenses of $0 in Q1 2026.
What does MSG networks — event-related expenses mean?: Captures the direct costs incurred in the production, promotion, and execution of live events or specific media broadcasts within the segment. These expenses are variable in nature and fluctuate based on the volume and scale of event activity.