Andrew Schulz, ‘Podcast Bro,' Might Be America's Foremost Political Journalist
Despite all his success with standup, Schulz has perhaps become even better known for his podcasting. His shows 'Flagrant,' co-hosted by Akaash Singh, and 'Brilliant Idiots,' co-hosted by Charlamagne tha God, are appointment listening for millions, not just for humor but for political discussion too. That relatively newfound breadth and Schulz's ready embrace of disparate subject matter — from politics to sports to theology to culture writ large — has led to him becoming a star of the so-called online manosphere. Although that term, or 'podcast bro,' or any other potentially reductive label one might apply, would most likely frustrate the entertainingly pugnacious Schulz.
But whatever you want to call him or his corner of the online world, it's influential. Donald Trump went on 'Flagrant' last fall ahead of the presidential election, and progressive politicians like Bernie Sanders and Pete Buttigieg have been guests on the show this year. For me, that raised questions about what Schulz's bigger goals are, and what responsibilities might come with his growing influence.
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In the last four or five years, you've really blown up. What has shifted in the culture to enable you to come to prominence? When I started posting stuff on the internet, specifically standup, things changed for me. I was trying to get an HBO special or, back in the day, Netflix is just coming to prominence, or Comedy Central. I was trying to get anything, and I couldn't get any motion with standup. So out of desperation, I filmed my own special, pitched it to everybody, nobody wanted it, and I was like, I'm going to put this online. At the time there was a sensitivity, especially in corporate America, about edginess and jokes. So my gamble was maybe if I put this out on YouTube, there will be an audience that likes this type of comedy. I put it out, and a weird thing happened: Everybody only watched 20 minutes. So I put out a 20-minute version of it, and the next weekend, I sold out a comedy club. The next weekend I sold out another one. I was like, Whoa, there's really something over here on the internet, and I can be my authentic self with comedy despite what the cultural sensitivity of the time is.
You obviously have clear ideas about what works with audiences. Does that create a temptation to pander? If you actually are trying to create something authentic, you're going to make less money, but you maintain your integrity. Oftentimes what happens is you'll have an opinion that's maybe a little different, and you'll be rebuked for that opinion for years, and then people will start to come around. Then the same people that rebuked you will start echoing those sentiments with no accountability. We had Bernie on the pod, who I love.
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Yahoo
15 minutes ago
- Yahoo
Madison Square Garden Entertainment Corp. Reports Fiscal 2025 Fourth Quarter and Full Year Results
NEW YORK, August 13, 2025--(BUSINESS WIRE)--Madison Square Garden Entertainment Corp. (NYSE: MSGE) ("MSG Entertainment" or the "Company") today reported financial results for the fiscal fourth quarter and full-year ended June 30, 2025. Fiscal 2025 was highlighted by another year of strong demand for the Company's array of live entertainment offerings. The Company hosted nearly 6 million guests at more than 975 events, including concerts, special events, family shows, and marquee sports, as well as the New York Knicks' ("Knicks") and New York Rangers' ("Rangers") regular seasons and the Knicks' playoff run. It also reflected approximately 1.1 million tickets sold across 200 shows of the Christmas Spectacular production, which delivered another year of record-setting revenues. In addition, the Company repurchased approximately $40 million of its Class A common stock during fiscal 2025. For fiscal 2025, the Company reported revenues of $942.7 million, a decrease of $16.5 million, or 2%, as compared to the prior year. In addition, the Company reported operating income of $122.1 million, an increase of $10.2 million, or 9%, and adjusted operating income of $222.5 million, an increase of $11.0 million, or 5%, both as compared to the prior year.(1) For the fiscal 2025 fourth quarter, the Company reported revenues of $154.1 million, a decrease of $31.9 million, or 17%, as compared to the prior year quarter. In addition, the Company reported an operating loss of $25.8 million, an increase of $16.9 million as compared to the prior year quarter, and an adjusted operating loss of $1.3 million as compared to adjusted operating income of $13.1 million in the prior year quarter.(1) Executive Chairman and CEO James L. Dolan said, "During fiscal 2025, we saw strong demand for our portfolio of entertainment assets. We see this momentum continuing in fiscal 2026, and believe we are well positioned to drive solid revenue and adjusted operating income growth in the year ahead." Results for the Three and Twelve Months Ended June 30, 2025 and 2024: Three Months Ended Twelve Months Ended June 30, Change June 30, Change $ millions 2025 2024 $ % 2025 2024 $ % Revenues $ 154.1 $ 186.1 $ (31.9 ) (17 )% $ 942.7 $ 959.3 $ (16.5 ) (2 )% Operating (Loss) Income $ (25.8 ) $ (8.9 ) $ (16.9 ) (191 )% $ 122.1 $ 111.9 $ 10.2 9 % Adjusted Operating (Loss) Income $ (1.3 ) $ 13.1 $ (14.4 ) NM $ 222.5 $ 211.5 $ 11.0 5 % Note: Amounts may not foot due to rounding. NM — Absolute percentages greater than 200% and comparisons from positive to negative values or to zero values are considered not meaningful. (1) See page 4 of this earnings release for the definition of adjusted operating income (loss) included in the discussion of non-GAAP financial measures. Entertainment Offerings, Arena License Fees and Other Leasing Fiscal 2025 fourth quarter revenues from entertainment offerings of $118.7 million decreased $24.1 million, or 17%, as compared to the prior year quarter, primarily due to lower event-related revenues and a decrease in revenues subject to the sharing of economics with Madison Square Garden Sports Corp. ("MSG Sports") pursuant to the Arena License Agreements. Event-related revenues decreased $21.6 million, primarily due to lower revenues from concerts, partially offset by higher revenues from other live entertainment and sporting events held at the Company's venues. The decrease in revenues from concerts primarily reflects a decrease in the number of concerts at the Madison Square Garden Arena ("The Garden") and lower per-concert revenues, primarily due to a shift in the mix of events at The Garden from promoted events to rentals, partially offset by an increase in the number of concerts at the Company's theaters, all as compared to the prior year quarter. The increase in revenues from other live entertainment and sporting events primarily reflects higher per-event revenues. Revenues subject to the sharing of economics with MSG Sports pursuant to the Arena License Agreements decreased $2.4 million, primarily due to lower suite license fee revenues (excluding those retained by MSG Entertainment) as compared to the prior year quarter, which mainly reflects the impact of fewer Knicks and Rangers games played at The Garden. Fiscal 2025 fourth quarter arena license fees and other leasing revenues of $9.0 million increased $0.5 million, or 6%, as compared to the prior year quarter, primarily due to an increase in other leasing revenues, partially offset by lower arena license fees due to a combined one fewer Knicks and Rangers regular season game played at The Garden as compared to the prior year quarter. Fiscal 2025 fourth quarter direct operating expenses associated with entertainment offerings, arena license fees and other leasing of $85.5 million decreased $14.2 million, or 14%, as compared to the prior year quarter, primarily due to lower event-related expenses and, to a lesser extent, lower expenses related to the sharing of economics with MSG Sports pursuant to the Arena License Agreements, partially offset by an increase in expenses related to the presentation of the Christmas Spectacular production and other cost increases. Event-related expenses decreased $15.7 million, mainly due to lower per-concert expenses, primarily due to a shift in the mix of events at The Garden from promoted events to rentals, and a decrease in the number of concerts at The Garden, partially offset by an increase in the number of concerts at the Company's theaters, all as compared to the prior year. This was partially offset by higher expenses for other live entertainment and sporting events as compared to the prior year quarter. Expenses associated with the sharing of economics with MSG Sports pursuant to the Arena License Agreements decreased $1.8 million, reflecting a proportional decrease in contractual revenue sharing as a result of the decrease in suite license fee revenues. Food, Beverage and Merchandise Fiscal 2025 fourth quarter food, beverage and merchandise revenues of $26.4 million decreased $8.3 million, or 24%, as compared to the prior year quarter. This decrease was primarily due to (i) lower food and beverage sales at Knicks and Rangers games, primarily due to fewer games played at The Garden as compared to the prior year quarter, partially offset by higher per-event revenues, and (ii) lower food and beverage sales at concerts, primarily due to a decrease in the number of concerts at The Garden, partially offset by an increase in the number of concerts at the Company's theaters, both as compared to the prior year quarter. Fiscal 2025 fourth quarter food, beverage and merchandise direct operating expenses of $16.5 million decreased $6.2 million, or 27%, as compared to the prior year quarter, primarily due to lower food and beverage costs at concerts at the Company's venues and lower food and beverage costs at Knicks and Rangers games at The Garden. Selling, General and Administrative Expenses Fiscal 2025 fourth quarter selling, general and administrative expenses of $59.9 million increased $4.1 million, or 7%, as compared with the prior year quarter. This increase was primarily due to higher employee compensation and related benefits, partially offset by lower rent expense and other net cost decreases. Operating Loss and Adjusted Operating (Loss) Income Fiscal 2025 fourth quarter operating loss of $25.8 million increased $16.9 million and adjusted operating income decreased $14.4 million to an adjusted operating loss of $1.3 million, both as compared to the prior year quarter, primarily due to the decrease in revenues and, to a lesser extent, higher selling, general and administrative expenses, partially offset by lower direct operating expenses. About Madison Square Garden Entertainment Corp. Madison Square Garden Entertainment Corp. (MSG Entertainment) is a leader in live entertainment, delivering unforgettable experiences while forging deep connections with diverse and passionate audiences. The Company's portfolio includes a collection of world-renowned venues – New York's Madison Square Garden, The Theater at Madison Square Garden, Radio City Music Hall, and Beacon Theatre; and The Chicago Theatre – that showcase a broad array of sporting events, concerts, family shows, and special events for millions of guests annually. In addition, the Company features the original production, the Christmas Spectacular Starring the Radio City Rockettes, which has been a holiday tradition for more than 90 years. More information is available at Non-GAAP Financial Measures We define adjusted operating income (loss), which is a non-GAAP financial measure, as operating income (loss) excluding (i) depreciation, amortization and impairments of property and equipment, goodwill and other long-lived assets, including right of use assets and related lease costs, (ii) share-based compensation expense or benefit, (iii) restructuring charges or credits, (iv) merger, spin-off, and acquisition-related costs, including merger-related litigation expenses, (v) gains or losses on sales or dispositions of businesses and associated settlements, (vi) the impact of purchase accounting adjustments related to business acquisitions, (vii) amortization for capitalized cloud computing arrangement costs and (viii) gains and losses related to the remeasurement of liabilities under the executive deferred compensation plan. We exclude impairments of long-lived assets, including right-of-use assets and related lease costs, as these expenses do not represent core business operating results of the Company. We believe that the exclusion of share-based compensation expense or benefit allows investors to better track the performance of our business without regard to the settlement of an obligation that is not expected to be made in cash. We eliminate merger, spin-off, and acquisition-related transaction costs, when applicable, because the Company does not consider such costs to be indicative of the ongoing operating performance of the Company as they result from an event that is of a non-recurring nature, thereby enhancing comparability. In addition, management believes that the exclusion of gains and losses related to the remeasurement of liabilities under the executive deferred compensation plan, provides investors with a clearer picture of the Company's operating performance given that, in accordance with U.S. generally accepted accounting principles, gains and losses related to the remeasurement of liabilities under the executive deferred compensation plan are recognized in Operating (income) loss whereas gains and losses related to the remeasurement of the assets under the executive deferred compensation plan, which are equal to and therefore fully offset the gains and losses related to the remeasurement of liabilities, are recognized in Other income (expense), net, which is not reflected in Operating income (loss). We believe adjusted operating income (loss) is an appropriate measure for evaluating the operating performance of the Company on a consolidated basis. Adjusted operating income (loss) and similar measures with similar titles are common performance measures used by investors and analysts to analyze our performance. Internally, we use revenues and adjusted operating income (loss) as the most important indicators of our business performance, and evaluate management's effectiveness with specific reference to these indicators. Adjusted operating income (loss) should be viewed as a supplement to and not a substitute for operating income (loss), net income (loss), cash flows from operating activities, and other measures of performance and/or liquidity presented in accordance with GAAP. Since adjusted operating income (loss) is not a measure of performance calculated in accordance with GAAP, this measure may not be comparable to similar measures with similar titles used by other companies. For a reconciliation of operating income (loss) to adjusted operating income (loss), please see page 5 of this release. Forward-Looking Statements This press release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results, developments or events may differ materially from those in the forward-looking statements as a result of various factors, including financial community perceptions of the Company and its business, operations, financial condition and the industries in which it operates and the factors described in the Company's filings with the Securities and Exchange Commission, including the sections titled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained therein. The Company disclaims any obligation to update any forward-looking statements contained herein. Conference Call Information: The conference call will be Webcast live today at 10:00 a.m. ET at Conference call dial-in number is 888-660-6386 / Conference ID Number 8020251Conference call replay number is 800-770-2030 / Conference ID Number 8020251 until August 20, 2025Investor presentation available at CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) (Unaudited) Three Months Ended June 30, Twelve Months Ended June 30, 2025 2024 2025 2024 Revenues Revenues from entertainment offerings $ 118,723 $ 142,872 $ 712,294 $ 723,897 Food, beverage, and merchandise revenues 26,402 34,713 150,506 162,092 Arena license fees and other leasing revenue 9,013 8,489 79,934 73,276 Total revenues 154,138 186,074 942,734 959,265 Direct operating expenses Entertainment offerings, arena license fees, and other leasing direct operating expenses (85,501 ) (99,716 ) (444,256 ) (475,502 ) Food, beverage, and merchandise direct operating expenses (16,489 ) (22,661 ) (91,387 ) (93,334 ) Total direct operating expenses (101,990 ) (122,377 ) (535,643 ) (568,836 ) Selling, general and administrative expenses (59,927 ) (55,807 ) (214,974 ) (206,963 ) Depreciation and amortization (15,432 ) (13,904 ) (57,768 ) (53,876 ) Impairment of long-lived assets (1,502 ) — (11,202 ) — Restructuring charges (1,041 ) (2,846 ) (1,055 ) (17,649 ) Operating (loss) income (25,754 ) (8,860 ) 122,092 111,941 Interest income 881 701 2,328 2,976 Interest expense (11,708 ) (14,193 ) (50,506 ) (57,954 ) Loss on extinguishment of debt (6,132 ) — (6,132 ) — Other income (expense), net 542 (3,127 ) (2,221 ) (4,672 ) (Loss) income from operations before income taxes (42,171 ) (25,479 ) 65,561 52,291 Income tax benefit (expense) 14,994 92,406 (28,130 ) 92,009 Net (loss) income $ (27,177 ) $ 66,927 $ 37,431 $ 144,300 (Loss) earnings per share attributable to MSG Entertainment's stockholders: Basic $ (0.57 ) $ 1.42 $ 0.78 $ 2.99 Diluted $ (0.57 ) $ 1.41 $ 0.77 $ 2.97 Weighted-average number of shares of common stock: Basic 47,611 47,067 48,031 48,275 Diluted 47,611 47,599 48,330 48,589 ADJUSTMENTS TO RECONCILE OPERATING INCOME (LOSS) TOADJUSTED OPERATING INCOME (LOSS)(in thousands)(Unaudited) The following is a description of the adjustments to operating (loss) income in arriving at adjusted operating (loss) income as described in this earnings release: Depreciation and amortization. This adjustment eliminates depreciation and amortization of property and equipment and intangible assets. Impairment of long-lived assets. This adjustment eliminates the impairment of long-lived assets, including right of use assets and related lease costs. Share-based compensation. This adjustment eliminates the compensation expense relating to restricted stock units, performance stock units and stock options granted to employees and non-employee directors. Restructuring charges. This adjustment eliminates costs related to termination benefits provided to certain corporate executives and employees. Merger, spin-off, and acquisition-related costs. This adjustment eliminates costs related to mergers, spin-offs and acquisitions, including merger-related litigation expenses. Amortization for capitalized cloud computing arrangement costs. This adjustment eliminates amortization of capitalized cloud computing arrangement costs. Remeasurement of deferred compensation plan liabilities. This adjustment eliminates the impact of gains and losses related to the remeasurement of liabilities under the executive deferred compensation plan. Three Months Ended Twelve Months Ended June 30, June 30, $ thousands 2025 2024 2025 2024 Operating (loss) income $ (25,754 ) $ (8,860 ) $ 122,092 $ 111,941 Depreciation and amortization 15,432 13,904 57,768 53,876 Impairment of long-lived assets 1,502 — 11,202 — Share-based compensation (excluding share-based compensation included in restructuring charges) 5,860 4,983 27,694 24,544 Restructuring charges 1,041 2,846 1,055 17,649 Merger, spin-off, and acquisition-related costs 113 — 1,474 2,035 Amortization of capitalized cloud computing arrangement costs 161 172 713 1,008 Remeasurement of deferred compensation plan liabilities 359 63 508 452 Adjusted operating (loss) income $ (1,286 ) $ 13,108 $ 222,506 $ 211,505 CONSOLIDATED BALANCE SHEETS (unaudited) (in thousands) June 30, 2025 2024 ASSETS Current Assets: Cash, cash equivalents and restricted cash $ 43,538 $ 33,555 Accounts receivable, net 66,781 77,259 Related party receivables, current 22,487 17,469 Prepaid expenses and other current assets 104,326 90,801 Total current assets 237,132 219,084 Non-Current Assets: Property and equipment, net 621,075 633,533 Right-of-use lease assets 484,544 388,658 Goodwill 69,041 69,041 Indefinite-lived intangible assets 63,801 63,801 Deferred tax assets, net 54,072 68,307 Other non-current assets 140,177 110,283 Total assets $ 1,669,842 $ 1,552,707 LIABILITIES AND DEFICIT Current Liabilities: Accounts payable, accrued and other current liabilities $ 184,360 $ 203,750 Related party payables, current 23,830 42,506 Long-term debt, current 30,469 16,250 Operating lease liabilities, current 35,100 27,736 Deferred revenue 228,642 215,581 Total current liabilities 502,401 505,823 Non-Current Liabilities: Long-term debt, net of deferred financing costs 568,780 599,248 Operating lease liabilities, non-current 566,484 427,014 Other non-current liabilities 45,477 43,787 Total liabilities 1,683,142 1,575,872 Commitments and contingencies Deficit: Class A Common Stock (a) 461 456 Class B Common Stock (b) 69 69 Additional paid-in capital 44,843 33,481 Treasury stock at cost (5,483 and 4,365 shares as of June 30, 2025 and June 30, 2024, respectively) (180,204 ) (140,512 ) Retained earnings 153,034 115,603 Accumulated other comprehensive loss (31,503 ) (32,262 ) Total deficit (13,300 ) (23,165 ) Total liabilities and deficit $ 1,669,842 $ 1,552,707 ______________________ (a) Class A Common Stock, $0.01 par value per share, 120,000 shares authorized; 46,076 and 45,556 shares issued as of June 30, 2025 and June 30, 2024, respectively. (b) Class B Common Stock, $0.01 par value per share, 30,000 shares authorized; 6,867 shares issued as of June 30, 2025 and June 30, 2024. SELECTED CASH FLOW INFORMATION (in thousands) (Unaudited) Twelve Months Ended June 30, 2025 2024 Net cash provided by operating activities $ 115,297 $ 111,266 Net cash used in investing activities (23,693 ) (62,371 ) Net cash used in financing activities (81,621 ) (99,695 ) Net increase (decrease) in cash, cash equivalents and restricted cash 9,983 (50,800 ) Cash, cash equivalents and restricted cash, beginning of period 33,555 84,355 Cash, cash equivalents and restricted cash, end of period $ 43,538 $ 33,555 View source version on Contacts Ari Danes, CFASenior Vice President, Investor Relations, Financial Communications & TreasuryMadison Square Garden Entertainment Corp.(212) 465-6072Justin BlaberVice President, Financial CommunicationsMadison Square Garden Entertainment Corp.(212) 465-6109Grace KaminerVice President, Investor Relations & TreasuryMadison Square Garden Entertainment Corp.(212) 631-5076 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Verge
17 minutes ago
- The Verge
Drag x Drive is more drag than drive
When Nintendo announced Drag x Drive, a Joy-Con mouse-controlled wheelchair sports game, for the Switch 2 I was tentatively excited. I have a lot of time for developers trying new things, and sports video games are hardly replete with disability representation. Having been hands-on with the game, however, Drag x Drive has left me baffled and in significant pain. As a "driver" - wheeled robots that come in three mostly indistinct flavors: guard, center, and forward - Drag x Drive has you play pickup games of three-on-three wheelchair basketball. You navigate the game by pushing and pulling your Joy-Cons across a surface in a motion vaguely s … Read the full story at The Verge.
Forbes
18 minutes ago
- Forbes
Product Placement Marketing Can Work For Any Business
Tom Freiling, publishing industry C-suite veteran, 3X founder, former CEO of NASDAQ-listed publisher, Chairman & CEO, Freiling Agency. As a publisher and marketing agency owner, I've witnessed firsthand how product placement has evolved from a subtle marketing tactic to a dominant force in advertising. What began as simple prop placements in early Hollywood films has evolved into a sophisticated, multi-billion-dollar industry. It can be a highly effective way to build your brand, but it's often ignored by small to medium-sized businesses. From Hollywood Beginnings To Marketing Staple Product placement dates back to when filmmakers began incorporating real products into their sets to enhance authenticity and reduce marketing costs. The 1982 film "E.T. The Extra-Terrestrial" marked a watershed moment when Reese's Pieces sales skyrocketed by 65% following the alien's on-screen candy consumption. This success demonstrated the untapped potential for brands to subtly engage with their audiences. The practice gained momentum throughout the 1980s and 1990s as traditional advertising became fragmented. Audiences grew tired of intrusive commercials and developed subconscious ad-blocking behaviors, forcing marketers to seek alternatives. Product placement offered a solution to reach audiences when their guard was down. Additionally, the return on investment for paid product placement was sometimes found to be better than that of traditional advertising, as placement costs could be lower than equivalent commercial time. It could also generate longer-lasting consumer exposure versus one-off paid advertisements. Product Placement Can Work For Any Business Based on my experience advising C-suite marketing executives, I observed that some still view product placement as a secondary tactic rather than a core strategic component. This can be a critical oversight. One of the most common misconceptions I encounter is that product placement only works for consumer brands or entertainment companies. In my experience, virtually any brand or company can leverage product placement. You simply need to be creative and actively seek opportunities. For example, local restaurants can appear in community theater productions, financial services can sponsor mentions in personal finance podcasts and even niche professional services can find placement opportunities in industry-specific content. Corporate training videos, educational content, social media challenges, live events and even virtual conferences all present opportunities for placement. The possibilities are endless. The key is expanding your definition of "media" beyond traditional entertainment, matching your brand's value proposition with relevant content environments where your target audience is already engaged. Every brand has a story, and every story needs authentic details. Don't limit yourself to obvious matches. Product Placement Amplifies Opportunities I'm embracing product placement in my publishing work, though with more subtlety than visual media. I work with authors who increasingly weave specific brands into their narratives, from characters driving particular car models to using recognizable technology products. For example, a novel might feature characters shopping at real retailers or dining at actual restaurant chains, while thriller writers incorporate authentic corporate settings and brand names to enhance realism. A notable book publishing example I often reference is Fay Weldon's novel "The Bulgari Connection," commissioned by the luxury jewelry brand Bulgari, which featured the company's products throughout the storyline. I've begun to facilitate similar partnerships in my own publishing house, recognizing that brand integration can provide additional revenue streams while funding marketing campaigns for book launches. Looking Forward As someone working at the intersection of publishing and marketing, I see product placement continuing to evolve as consumer behavior and technology advance. The future is likely to hold more sophisticated integration, with personalized placement based on individual viewer preferences and consumption patterns. As traditional advertising effectiveness continues to decline, I expect brands will increasingly rely on product placement. Success will belong to those of us who master the balance between commercial objectives and authentic storytelling, creating value for both brands and audiences in the process. Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?
