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Revenue Recognition (Tables) | 12 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue | The following tables disaggregate the Company’s revenue by major source and reportable segment based upon the timing of transfer of goods or services to the customer for Fiscal Years 2024, 2023 and 2022:
|  | Year Ended June 30, 2024
|  | Sphere |  | MSG Networks |  |  |  |  | Total
Event-related (a) |  | $ | 420,327 |  |  | $ | — |  |  |  |  |  | $ | 420,327 |
Sponsorship, signage, Exosphere advertising, and suite licenses (b) |  | 68,876 |  |  | 2,178 |  |  |  |  |  | 71,054 |
Media related, primarily from affiliation agreements (b) |  | — |  |  | 521,611 |  |  |  |  |  | 521,611 |
Other |  | 4,928 |  |  | 5,941 |  |  |  |  |  | 10,869 |
Total revenues from contracts with customers |  | $ | 494,131 |  |  | $ | 529,730 |  |  |  |  |  | $ | 1,023,861 |
Revenues from subleases |  | 3,028 |  |  | — |  |  |  |  |  | 3,028 |
Total revenues |  | $ | 497,159 |  |  | $ | 529,730 |  |  |  |  |  | $ | 1,026,889 |
|  | Year Ended June 30, 2023
|  | Sphere |  | MSG Networks |  |  |  |  |  | Total
Sponsorship, signage, Exosphere advertising, and suite licenses (b) |  | $ | — |  |  | $ | 6,990 |  |  |  |  |  |  | $ | 6,990 |
Media related, primarily from affiliation agreements (b) |  | — |  |  | 558,362 |  |  |  |  |  |  | 558,362 |
Other |  | — |  |  | 5,869 |  |  |  |  |  |  | 5,869 |
Total revenues from contracts with customers |  | $ | — |  |  | $ | 571,221 |  |  |  |  |  |  | $ | 571,221 |
Revenues from subleases |  | 2,610 |  |  | — |  |  |  |  |  |  | 2,610 |
Total revenues |  | $ | 2,610 |  |  | $ | 571,221 |  |  |  |  |  |  | $ | 573,831 |
|  | Year Ended June 30, 2022
|  | Sphere |  | MSG Networks |  |  |  |  | Total
Sponsorship, signage, Exosphere advertising, and suite licenses (b) |  | $ | — |  |  | $ | 6,470 |  |  |  |  |  | $ | 6,470 |
Media related, primarily from affiliation agreements (b) |  | — |  |  | 596,032 |  |  |  |  |  | 596,032 |
Other |  | — |  |  | 5,653 |  |  |  |  |  | 5,653 |
Total revenues from contracts with customers |  | $ | — |  |  | $ | 608,155 |  |  |  |  |  | $ | 608,155 |
Revenues from subleases |  | 1,900 |  |  | — |  |  |  |  |  | 1,900 |
Total revenues |  | $ | 1,900 |  |  | $ | 608,155 |  |  |  |  |  | $ | 610,055 |
_________________ (a) Event-related revenues consists of (i) ticket sales and other revenue directly related to the exhibition of the Sphere Experience, (ii) ticket sales and other ticket-related revenues to other events at our venue, (iii) venue license fees from third-party promoters, and (iv) food, beverage and merchandise sales. Event-related revenues are recognized at a point in time. As such, these revenues have been included in the same category in the table above. (b) See Note 2. Summary of Significant Accounting Policies, Revenue Recognition, for further details on the pattern of recognition of sponsorship signage, Exosphere advertising, suite licenses, and media related revenue. In addition to the disaggregation of the Company’s revenue by major source based upon the timing of transfer of goods or services to the customer disclosed above, the following tables disaggregate the Company’s consolidated revenues by type of goods or services in accordance with the required entity-wide disclosure requirements of ASC Subtopic 280-10-50-38 to 40 and the disaggregation of revenue required disclosures in accordance with ASC Subtopic 606-10-50-5 for Fiscal Years 2024, 2023 and 2022.
|  | Year Ended June 30, 2024
|  | Sphere |  | MSG Networks |  |  |  |  | Total
Ticketing and venue license fee revenues (a) |  | $ | 340,256 |  |  | $ | — |  |  |  |  |  | $ | 340,256 |
Sponsorship, signage, Exosphere advertising, and suite revenues |  | 87,173 |  |  | — |  |  |  |  |  | 87,173 |
Food, beverage and merchandise revenues |  | 66,702 |  |  | — |  |  |  |  |  | 66,702 |
Media networks revenues (b) |  | — |  |  | 529,730 |  |  |  |  |  | 529,730 |
Total revenues from contracts with customers |  | $ | 494,131 |  |  | $ | 529,730 |  |  |  |  |  | $ | 1,023,861 |
Revenues from subleases |  | 3,028 |  |  | — |  |  |  |  |  | 3,028 |
Total revenues |  | $ | 497,159 |  |  | $ | 529,730 |  |  |  |  |  | $ | 1,026,889 |
|  | Year Ended June 30, 2023
|  | Sphere |  | MSG Networks |  |  |  |  | Total
Media networks revenues (b) |  | $ | — |  |  | $ | 571,221 |  |  |  |  |  | $ | 571,221 |
Revenues from subleases |  | 2,610 |  |  | — |  |  |  |  |  | 2,610 |
Total revenues |  | $ | 2,610 |  |  | $ | 571,221 |  |  |  |  |  | $ | 573,831 |
|  | Year Ended June 30, 2022
|  | Sphere |  | MSG Networks |  |  |  |  | Total
Media networks revenues (b) |  | $ | — |  |  | $ | 608,155 |  |  |  |  |  | $ | 608,155 |
Revenues from subleases |  | 1,900 |  |  | — |  |  |  |  |  | 1,900 |
Total revenues |  | $ | 1,900 |  |  | $ | 608,155 |  |  |  |  |  | $ | 610,055 |
_________________ (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 and (iii) other live entertainment and sporting events. (b) Primarily consists of affiliation fees from Distributors (as defined above) and, to a lesser extent, advertising revenues through the sale of commercial time and other advertising inventory during MSG Networks programming.
Contract Balances | The following table provides information about contract balances from the Company’s contracts with customers as of June 30, 2024, 2023 and 2022.
|  | As of June 30,
|  | 2024 |  | 2023 |  | 2022
Receivables from contracts with customers, net (a) |  | $ | 228,230 |  |  | $ | 115,039 |  |  | $ | 124,319 |
Contract assets, current (b) |  | 1,500 |  |  | 314 |  |  | — |
Contract assets, non-current (b) |  | 907 |  |  | — |  |  | 756 |
Deferred revenue, including non-current portion (c) |  | 97,151 |  |  | 27,397 |  |  | 4,413 |
_________________ (a) As of June 30, 2024, 2023 and 2022 the Company’s receivables from contracts with customers above included $0, $2,730, and $992, respectively, related to various related parties. See Note 18. 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 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) Revenue recognized for Fiscal Year 2024 relating to the deferred revenue balance as of June 30, 2023 was $21,946.
Remaining Performance Obligation | The following table depicts the estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of June 30, 2024. This primarily relates to performance obligations under sponsorship agreements that have original expected durations longer than one year and for which the respective consideration is not variable. In developing the estimated revenue, the Company applies the allowable practical expedient and does not disclose information about remaining performance obligations that have original expected durations of one year or less.
|  | As of June 30, 2024
Fiscal year ending June 30, 2025 |  | $ | 56,548 |
Fiscal year ending June 30, 2026 |  | 37,016 |
Fiscal year ending June 30, 2027 |  | 16,244 |
Fiscal year ending June 30, 2028 |  | 4,696 |
Fiscal year ending June 30, 2029 |  | 683 |
|  | $ | 115,187 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 + Details
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