Madison Square Garden Entertainment Corp. (NYSE:MSGE) Q3 2024 Earnings Call Transcript

Mike Grau: Thanks, Paul. Thanks for the question. So our relation with Oak View Group and their subsidiary Crown properties. We announced it last September and really initiated October 1. And right now the structure of the deal is such that Crown properties leads all of our sales and sponsorship signage inventory, for all of our venues and for all of our live entertainment properties, we continue to retain certain functions in-house. We have a certain legacy expertise and constantly — with Crown properties quite frankly daily, if not more frequently. And all activation and fulfillment responsibilities in regard to these sponsorship deals, which can be complex continues to reside with us internally. We’re definitely encouraged by the momentum we’re seeing right now.

We’ve had a couple of nice wins of late, that are either closed or right at the finish line ,we’ve seen the pipeline is growing much more robust as time goes on. So feel — this is a long-term deal, that we have and we expect it to be a long-term relationship and all the reasons, we entered into this deal is starting to manifest themselves. I think we’re still in the early innings of that deal, but it definitely feels like we’re getting some traction right now in the marketplace. And we’re seeing some trends that make us very encouraged and kind of validate the fact that our initial rationale for entering into this deal something, we’ll continue to talk about going forward, but we’re very encouraged and optimistic right now. Thanks so much.

Q – Paul Golding: Thanks so much.

Operator: I will now turn the call back over to Ari Danes for closing remarks. Please go ahead.

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

Operator: Ladies and gentlemen, that concludes today’s call. Thank you all for joining. You may now disconnect.