Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2026

Revenue from Contract with Customer [Abstract]

The following tables disaggregate the Company’s consolidated revenues by segment and type of goods or services for the three and six months ended June 30, 2026 and 2025:


	Three Months Ended
	June 30, 2026
	Sphere		MSG Networks		Total
Ticketing and venue license fee revenues (a)	$	150,235	$	—	$	150,235
Sponsorship, signage, Exosphere advertising, and suite license revenues (b)	34,760		—		34,760
Food, beverage, and merchandise revenues (c)	35,951		—		35,951
Media networks revenues (b)	—		87,286		87,286
Other	4,971		—		4,971
Total revenues from contracts with customers	225,917		87,286		313,203
Revenues from subleases	436		—		436
Total revenues	$	226,353	$	87,286	$	313,639


	Three Months Ended
	June 30, 2025
	Sphere		MSG Networks		Total
Ticketing and venue license fee revenues (a)	$	117,810	$	—	$	117,810
Sponsorship, signage, Exosphere advertising, and suite license revenues (b)	22,624		—		22,624
Food, beverage, and merchandise revenues (c)	27,884		—		27,884
Media networks revenues (b)	—		107,090		107,090
Other	6,830		—		6,830
Total revenues from contracts with customers	175,148		107,090		282,238
Revenues from subleases	439		—		439
Total revenues	$	175,587	$	107,090	$	282,677


	Six Months Ended
	June 30, 2026
	Sphere		MSG Networks		Total
Ticketing and venue license fee revenues (a)	$	348,538	$	—	$	348,538
Sponsorship, signage, Exosphere advertising, and suite license revenues (b)	61,826		—		61,826
Food, beverage, and merchandise revenues (c)	69,669		—		69,669
Media networks revenues (b)	—		207,733		207,733
Other	11,410		—		11,410
Total revenues from contracts with customers	491,443		207,733		699,176
Revenues from subleases	875		—		875
Total revenues	$	492,318	$	207,733	$	700,051


	Six Months Ended
	June 30, 2025
	Sphere		MSG Networks		Total
Ticketing and venue license fee revenues (a)	$	225,136	$	—	$	225,136
Sponsorship, signage, Exosphere advertising, and suite license revenues (b)	46,798		—		46,798
Food, beverage, and merchandise revenues (c)	47,773		—		47,773
Media networks revenues (b)	—		230,119		230,119
Other	12,482		—		12,482
Total revenues from contracts with customers	332,189		230,119		562,308
Revenues from subleases	943		—		943
Total revenues	$	333,132	$	230,119	$	563,251

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(a) Amounts include ticket sales, other ticket-related revenue, and venue license fees from the Company’s events such as (i) concerts, (ii) The Sphere Experience, (iii) brand events and (iv) other live entertainment and sporting events. These revenues are generally recognized at a point in time.

(b) Sponsorship and signage, Exosphere advertising, suite licenses, and media related revenues are generally recognized over time.

Schedule of Contract with Customer, Contract Assets and Liabilities

The following table provides information about contract balances from the Company’s contracts with customers as of June 30, 2026 and December 31, 2025:


	As of
	June 30,		December 31,
	2026		2025
Receivables from contracts with customers, net (a)	$	152,445	$	173,525
Contract assets, current (b)	178		445

Deferred revenue, including non-current portion (c)	227,080		250,170

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(a) As of June 30, 2026 and December 31, 2025, the Company’s receivables from contracts with customers, net above included $129 and $1,895, respectively, related to various related parties. See Note 14 . Related Party Transactions for further details on these related party arrangements.

(b) Contract assets, current, which are reported as Prepaid expenses and other current assets,in the Company’s condensed consolidated balance sheets, primarily relate to the Company’s rights to consideration for goods or services transferred to customers, for which the Company does not have an unconditional right to bill as of the reporting date. Contract assets are transferred to accounts receivable once the Company’s right to consideration becomes unconditional.

(c) Deferred revenue primarily relates to the Company’s receipt of consideration from customers in advance of the Company’s transfer of goods or services to the customers. Deferred revenue is reduced and the related revenue is recognized once the underlying goods or services are transferred to a customer. Revenue recognized for the three and six months ended June 30, 2026 relating to the deferred revenue balance as of December 31, 2025 was $46,124 and $170,297, respectively.