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Segment Information (Tables) | 12 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information by Segment | Information as to the operations of the Company’s reportable segments is set forth below.
|  | Year Ended June 30, 2024
|  | Sphere |  | MSG Networks |  |  |  | Total
Revenues |  | $ | 497,159 |  |  | $ | 529,730 |  |  |  |  | $ | 1,026,889 |
Direct operating expenses |  | (205,307) |  |  | (342,517) |  |  |  |  | (547,824) |
Selling, general and administrative expenses |  | (393,039) |  |  | (39,814) |  |  |  |  | (432,853) |
Depreciation and amortization |  | (248,248) |  |  | (8,246) |  |  |  |  | (256,494) |
Impairment and other losses, net |  | (121,473) |  |  | — |  |  |  |  | (121,473) |
Restructuring charges |  | (9,476) |  |  | (10) |  |  |  |  | (9,486) |
Operating (loss) income |  | (480,384) |  |  | 139,143 |  |  |  |  | (341,241) |
Interest income |  |  |  |  |  |  |  | 25,687 |
Interest expense |  |  |  |  |  |  |  | (79,868) |
Other income, net |  |  |  |  |  |  |  | 35,197 |
Loss from operations before income taxes |  |  |  |  |  |  |  | $ | (360,225) |
Reconciliation of operating (loss) income to adjusted operating (loss) income: |  |  |
Operating (loss) income |  | $ | (480,384) |  |  | $ | 139,143 |  |  |  |  | $ | (341,241) |
Add back: |  |  |  |  |  |  |  |
Share-based compensation |  | 40,514 |  |  | 6,330 |  |  |  |  | 46,844 |
Depreciation and amortization |  | 248,248 |  |  | 8,246 |  |  |  |  | 256,494 |
Restructuring charges |  | 9,476 |  |  | 10 |  |  |  |  | 9,486 |
Impairment and other losses, net |  | 121,473 |  |  | — |  |  |  |  | 121,473 |
Merger and acquisition related costs, net of insurance recoveries |  | (1,176) |  |  | (11,542) |  |  |  |  | (12,718) |
Amortization for capitalized cloud computing costs |  | — |  |  | 87 |  |  |  |  | 87 |
Remeasurement of deferred compensation plan liabilities |  | 306 |  |  | — |  |  |  |  | 306 |
Adjusted operating (loss) income |  | $ | (61,543) |  |  | $ | 142,274 |  |  |  |  | $ | 80,731 |
Other information: |  |  |  |  |  |  |  |
Capital expenditures |  | $ | 259,642 |  |  | $ | 6,555 |  |  |  |  | $ | 266,197 |
|  | Year Ended June 30, 2023
|  | Sphere |  | MSG Networks |  |  | Total
Revenues |  | $ | 2,610 |  |  | $ | 571,221 |  |  |  | $ | 573,831 |
Direct operating expenses |  | (5,545) |  |  | (336,666) |  |  |  | (342,211) |
Selling, general and administrative expenses |  | (325,660) |  |  | (126,482) |  |  |  | (452,142) |
Depreciation and amortization |  | (24,048) |  |  | (6,668) |  |  |  | (30,716) |
Impairment and other gains (losses), net |  | 6,229 |  |  | (109) |  |  |  | 6,120 |
Restructuring charges |  | (23,136) |  |  | (4,788) |  |  |  | (27,924) |
Operating (loss) income |  | (369,550) |  |  | 96,508 |  |  |  | (273,042) |
Interest income |  |  |  |  |  |  | 11,585 |
Interest expense |  |  |  |  |  |  | — |
Other income, net |  |  |  |  |  |  | 536,887 |
Income from operations before income taxes |  |  |  |  |  |  | $ | 275,430 |
Reconciliation of operating (loss) income to adjusted operating (loss) income: |  |
Operating (loss) income |  | $ | (369,550) |  |  | $ | 96,508 |  |  |  | $ | (273,042) |
Add back: |  |  |  |  |  |  |
Share-based compensation |  | 36,188 |  |  | 6,419 |  |  |  | 42,607 |
Depreciation and amortization |  | 24,048 |  |  | 6,668 |  |  |  | 30,716 |
Restructuring charges |  | 23,136 |  |  | 4,788 |  |  |  | 27,924 |
Impairment and other (gains) losses, net |  | (6,229) |  |  | 109 |  |  |  | (6,120) |
Merger and acquisition related costs |  | (189) |  |  | 55,236 |  |  |  | 55,047 |
Amortization for capitalized cloud computing costs |  | — |  |  | 161 |  |  |  | 161 |
Remeasurement of deferred compensation plan liabilities |  | 187 |  |  | — |  |  |  | 187 |
Adjusted operating (loss) income |  | $ | (292,409) |  |  | $ | 169,889 |  |  |  | $ | (122,520) |
Other information: |  |  |  |  |  |  |
Capital expenditures |  | $ | 1,025,700 |  |  | $ | 9,185 |  |  |  | $ | 1,034,885 |
|  | Year Ended June 30, 2022
|  | Sphere |  |  |  |  | MSG Networks |  |  |  | Total
Revenues |  | $ | 1,900 |  |  |  |  |  | $ | 608,155 |  |  |  |  | $ | 610,055 |
Direct operating expenses |  | — |  |  |  |  |  | (320,278) |  |  |  |  | (320,278) |
Selling, general and administrative expenses |  | (293,664) |  |  |  |  |  | (126,129) |  |  |  |  | (419,793) |
Depreciation and amortization |  | (13,168) |  |  |  |  |  | (9,394) |  |  |  |  | (22,562) |
Impairment and other gains |  | 245 |  |  |  |  |  | — |  |  |  |  | 245 |
Restructuring charges |  | (12,952) |  |  |  |  |  | (452) |  |  |  |  | (13,404) |
Operating (loss) income |  | (317,639) |  |  |  |  |  | 151,902 |  |  |  |  | (165,737) |
Interest income |  |  |  |  |  |  |  |  |  |  | 3,575 |
Interest expense |  |  |  |  |  |  |  |  |  |  | — |
Other expense, net |  |  |  |  |  |  |  |  |  |  | (5,518) |
Loss from operations before income taxes |  |  |  |  |  |  |  |  |  |  | $ | (167,680) |
Reconciliation of operating (loss) income to adjusted operating (loss) income: |  |
Operating (loss) income |  | $ | (317,639) |  |  |  |  |  | $ | 151,902 |  |  |  |  | (165,737) |
Add back: |  |  |  |  |  |  |  |  |  |  |
Share-based compensation |  | 39,668 |  |  |  |  |  | 17,092 |  |  |  |  | 56,760 |
Depreciation and amortization |  | 13,168 |  |  |  |  |  | 9,394 |  |  |  |  | 22,562 |
Restructuring charges |  | 12,952 |  |  |  |  |  | 452 |  |  |  |  | 13,404 |
Impairment and other gains |  | (245) |  |  |  |  |  | — |  |  |  |  | (245) |
Merger and acquisition related costs |  | 20,834 |  |  |  |  |  | 27,683 |  |  |  |  | 48,517 |
Amortization for capitalized cloud computing costs |  | 95 |  |  |  |  |  | 176 |  |  |  |  | 271 |
Adjusted operating (loss) income |  | $ | (231,167) |  |  |  |  |  | $ | 206,699 |  |  |  |  | $ | (24,468) |
Other information: |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | $ | 717,093 |  |  |  |  |  | $ | 3,673 |  |  |  |  | $ | 720,766 |
Schedules of Concentration of Risk | Accounts receivable, net on the accompanying consolidated balance sheets as of June 30, 2024 and 2023 included amounts due from the following individual customers, substantially derived from the MSG Networks segment, which accounted for the noted percentages of the gross balance:
|  | As of June 30,
|  | 2024 |  | 2023
Customer A |  | 10 | % |  | 23 | %
Customer B |  | 10 | % |  | 22 | %
Customer C |  | N/A |  | 17 | %
Revenues in the accompanying consolidated statements of operations for Fiscal Years 2024, 2023 and 2022 included amounts from the following individual customers, primarily derived from the MSG Networks segment, which accounted for the noted percentages of the total:
|  | Years Ended June 30,
|  | 2024 |  | 2023 |  | 2022
Customer 1 |  | 14 | % |  | 26 | % |  | 27 | %
Customer 2 |  | 13 | % |  | 26 | % |  | 26 | %
Customer 3 |  | 10 | % |  | 21 | % |  | 21 | %

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