As event business stays strong, Barclays Center reports small increase in ticket sales, pointing to a modestly profitable fiscal year (net income ≠ gross income)

As of last August, as I reported (link), the Barclays Center saw its event business rebound, as tickets revenues in Fiscal Year 2024 (ending June 30) increased nearly 80% compared to FY 2023.

That trend looks to continue, modestly, according to recent reports to bondholders. 

The arena operating company recorded $10 million in suite and sponsor installments and $57.4 million in ticket sales in the second quarter of FY 2025 (or the last quarter of calendar year 2024). That compared to $4.2 million and $56.2 million in the comparable quarter in FY 2024.

The arena had $2.1 million in suite and sponsor installments and $51.1 million in ticket sales in the third quarter of FY 2025. That compared to $10.6 million and $47.5 million in the comparable quarter in FY 2024.

So ticket sales are up modestly, while suite and sponsor installments are slightly down in these two quarters. 

Note that, in the first quarter of the fiscal year, the arena reported $5.4 million in suite and sponsor installments, and $40.3 million in ticket sales, with the former an uptick and the latter a notable drop.

Half-year net income

The arena company also reported $77.8 million in revenue over the first half of FY 2025, and $58.3 million in expenses, leaving nearly $19.5 million in net operating income.

In the comparable period in the previous year, the net operating income was $19.3 million.

That led to $35.8 million in annual net revenue, enough to cover construction bonds and--by my calculation--deliver $15.5 million in profit, which is not insignificant but well below projections.

So, while at the end of 2024, the Barclays Center touted itself as among the top-grossing arenas on the planet, gross income isn't the same as net income.

Previous results

As I wrote, it's not clear how much this should be credited to a more robust concert/event schedule, boosted by the return to ticketing partner Ticketmaster (allied with promoter Live Nation), more fans attending New York Liberty games, rising ticket prices, or all of the above.