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    Daniel Duran • Morgan Stanley

    Daniel Duran's questions to Sphere Entertainment Co (SPHR) leadership

    Daniel Duran's questions to Sphere Entertainment Co (SPHR) leadership • Q1 2025

    Question

    An analyst, identified by the operator as Daniel Duran, asked about the largest opportunities for cost leverage or synergies once a second Sphere location opens.

    Answer

    Executive Chairman and CEO James Dolan responded that much of the company's current overhead, including its construction, development, and content creation divisions, is built to support a global network of Spheres. He explained that each new venue allows the company to better utilize this initial investment, which is why the Abu Dhabi project is significant and why they are seeking the next one.

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    Daniel Duran's questions to Madison Square Garden Sports Corp (MSGS) leadership

    Daniel Duran's questions to Madison Square Garden Sports Corp (MSGS) leadership • Q4 2024

    Question

    Daniel Duran from Morgan Stanley questioned the decision to not raise season ticket prices for renewing holders after a successful season and asked about the expected implications for revenue and adjusted operating income (AOI) in fiscal 2025.

    Answer

    COO Jamaal Lesane explained the decision as a long-term strategy to reward loyal season ticket holders. He clarified that the company will still opportunistically price new season ticket packages, individual, and group tickets. As a result, he stated that MSG Sports believes it has the opportunity to drive 'modest ticket revenue growth' in fiscal 2025 and will reevaluate pricing annually.

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