#financial reports

[phoenixyfriend]

Ko-fi prompt from Becky:

I actually would love to hear where ticket/concession/merch money for concerts go. If someone has already asked about that, can you do something similar for a sports game of your choice?

Already got a request for concerts, but I can do the sports game!

So, let's go with... baseball. I've been to professional baseball games ('twas the Ducks), even if it's been a Very Long Time, so that's the one I have some perspective on. Who is in control of the money any given game (as in, who owns the stadium and the home team) varies by place and sport, so let's use the Mets and Citi Field as our example when we need a specific.

Mostly, this is because I'm in New York and so it's down to either them or the Yankees, and between the two... the Mets, through a wholly owned subsidiary, Queens Ballpark Company, are the ones that actually own their ballpark, which makes a few things easier and includes a Fun Fact about the naming. It also means that I can treat the team and the stadium as one singular entity instead of waffling over who gets to be the Main Character of this simulation. It's not exactly uncommon for teams to own their own stadiums, but it's not most of them.

(The Mets, btw, are owned in large part by a hedge fund manager. Like, 95% of the team stock is owned by this one guy. Why can't more sports be like the Packers and just belong to the city.)

In this case, I will be referring to the Forbes article on Citi Field's revenue for 2022 as a guide or framework, as they have an actual image of the financial report; they don't do much explaining of the actual data, though, so my part will be explaining the less-obvious things and doing some maths. A few other articles will also be cited as they come in useful.

I'll also note that the Mets are a very expensive team operating at a loss, but they still work for our purposes.

MONEY COMING IN:

Tickets, most obviously

To quote the wiki article on Major League Baseball:

"MLB is the second-wealthiest professional sport league by revenue after the National Football League (NFL). [...] MLB has the highest total season attendance of any sports league in the world; in 2018, it drew more than 69.6 million spectators."

I didn't know that until I started researching for this post, but it makes sense. After all, baseball is "the American pastime." The Forbes article cites average attendance of 33,000 per home game. The stadium seat about 41,900, so we're looking at roughly 79% attendance. This is fine, because attendance is not the only stream of revenue.

Advertising

If you have seen a professional sports game in the past however many years, you have seen that, depending on the type of court, they are plastered in advertising. Let's take a look at Citi Field:

(Image Source: MLB website)

The Forbes article states that the stadium makes about $48.5 million per year from advertising. About $28.5 million of that comes from the various 'temporary' and long-term ads, the Nikon and Geico and Toyota and Coca Cola, etc.

$20 million of it comes from one company. I'm going to quote Wikipedia again:

The naming rights were purchased by Citigroup, a New York financial services company, for $20 million annually.

This is not uncommon! ESPN has an article about it, and some standout examples are Bank of America Stadium, Coors Field, Delta Center, FedEx Field and FedEx Forum, General Motors Place, Gillette Stadium, Heinz Field, and the list just goes on. I'm not even sure if the list is up to date, because I'm seeing even more articles elsewhere with higher figures.

Concessions

The financial report that Forbes cites has $22mill in concessions. This is not entirely surprising. Going by this page, we're looking at... 84 home games in that 2022 season. Let's assume that 33,000 average cited earlier. That's 2,772,000 attendees over the course of the season. So, what, a little under $10 per attendance tick? Entirely plausible. A hot dog plus a soda is $15, so... that tracks.

Parking

Apparently parking is, collectively, about $13mill annually. That's... genuinely a little concerning to me, for uh. Reasons. Also parking is $40.

(A lot of people go to games via train, if anyone's interested.)

Luxury Suite Premiums

I had to google this one, but uh. Turns out those fancy private box seats are even fancier and more private than I thought, bringing in over $10 mill a year.

Other Revenue - Stadium, undefined

"Other Revenue" and "post season revenue" are not given any further information, but they're about $16.5 mill so. They're definitely doing their part? Wish we had more information.

One guess is that there are events in the vein of the Citi Field Spring Carnival that contribute to the revenue through either fees to the stadium (if this is a carnival that rents the parking lot) or concessions and tickets (if the stadium rents a carnival).

Other Revenue - to the team that is not direct operating income of the stadium itself

Not counting the "other revenue" section of the financial statement, the Forbes article tells us that:

National broadcasting deals with Fox, ESPN and TBS that pay over $60 million a year to every MLB team, as well as the local cable fee the Mets get from SNY, which is over $80 million a year.

That's another $140mill in addition to the $244mill that the financial report cites.

Merchandise - not direct stadium revenue.

Get your Mets hats here! And your jerseys! And your logo bats! And your commemorative plushies! And--

MONEY GOING OUT

Operations

This one's easy: you have to pay wages to your employees, from the players themselves to the food sellers to janitorial to security to field maintenance, etc. Also, you have to pay for utilities (those billboards and floodlights aren't cheap), product to sell (frozen hot dogs), supplementary materials for products you sell (plastic cups, paper for the ticket machines, bags for garbage cans, and so on), and repairs/maintenance for the stands themselves (can't imagine they get through a season with all 41,900 seats intact).

Player salaries (and a few others, like the coach) aren't actually included in stadium revenue, but since the stadium is owned by the team, we're bundling them together for the sake of this case.

Payment in Lieu of Taxes

So this is an interesting one, and while the Forbes article does touch on it, there's a bit more detail to the story.

Citi Field was built in 2009, and the process cost $850 million. Of that, $615 was public subsidies. A lot of this was municipal bonds, which the Mets have to pay back with interest for the lifetime of the park; those municipal bond repayments are an offset, and in return for paying tens of millions in municipal bond repayments each year (the 2022 report shows about $43.5 mill), Citi Field does not have to pay property taxes.

Wikipedia only cites property taxes, but the financial report doesn't include any other taxes, so I'll assume the only other taxes they're on the hook for are sales and payroll, which aren't displayed in the financial report.

Parking

Right, so, parking as a bundle is about $7.5 mill in expenses, which means that parking alone has a marginal profit of about 42.3%, given the earlier figure of $13mill in parking revenue. I'm not finding any solid information on where that money goes, but it seems very like that New York City's taxes on land use for parking is not included in the property tax exemption we discussed above, and that most of the $7.5 mill is in that regard.

Post Season Expenses

I'll be honest, they don't define this $1.8 mill, but given what is and isn't included in the other sections, I'm going to hazard a guess that this may be about upgrades (more than maintenance) or replacement of physical billboards that are also not included as regular maintenance but require a lot of manpower to get up and set if complicated enough.

General and Administrative

This is the other possible allocation of the utilities and related payments. This is also where back of house activities like accountants, lawyer fees, payroll clerks, facilities managers, and so on are bundled in. It's about $5.5 mill.

Publicity and Promotions

This one's easy, it's just marketing that doesn't fall into General Mets Things and is rather for home games specifically.

Depreciation and Amortization

Bit trickier, but you know how a car loses value the second you drive it off the lot? That is depreciation. You paid $20,000 for a car, but two years later it's worth $16,000; on a financial report, you put that down as a $4,000 loss to depreciation. Amortization is similar, in that it lowers values of various assets in relation to time and relative value to what it was when new.

Interest Expenses

Expenses related directly to interest rates tend to get their own line separate from regular debt repayments. This isn't really relevant beyond 'loans are more expensive than when you first get them.'

Travel and League Expenses

Since this is a traveling team, being professionals, and a Major League Baseball Team in particular, money has to be spent on the plane rides, team bus, and of course, the league fees. I wanted to end that a bit more pithy, but it turns out it's not easy to find league fees for the MLB.

(A new team joining would have to pay about $2.2 billion, according to one article, while previous new additions were a couple hundred mill, so... 100 mill? Maybe?)

Hope that answers your question!

[tailschannel]

Sonic the Hedgehog series sells over 6 million copies in latest SEGA quarterly report

With new releases like Sonic Frontiers and Sonic Origins in the latest financial quarterly report from SEGA, the Sonic the Hedgehog series once more has found its way to the top spot.

Sonic is once more at the top

As of the third quarter of fiscal year 2023, the Sonic game series accumulated a total of 6.7 million units to this point, up by roughly four million compared to the previous quarter. When compared to the numbers from the same period last fiscal period, the current year beats the previous by an additional 1.8 million units.

The most noteworthy performance is that of Sonic's latest release, Sonic Frontiers, that sold 2.9 million units up until the last day of 2022. It's believed that titles like Sonic Origins and Sonic Colours: Ultimate also helped with these numbers.

Pachinko Slots and Entertainment bringing more numbers

SEGASammy has also commented that their Entertainment and Resort divisions will very likely to remain at the same performance level as the previous forecast, but the Pachislot and Pachinko Machines divisions are likely to trend upward in operating income.

In terms of the immediate Consumer division at SEGA (like, full packaged games and free-to-play apps): although the sale of some new titles and repeat titles have been lower than expected, operating income is expected to be generally at the same level as the previous forecast due to strong sales of new game titles such as Sonic Frontiers and free-to-play titles.

[mimivsjames-blog]

[wealthwise93]

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How World Events Influence Stocks. Read more -> www.wealth-wise.blog World events, Stocks, Stock market, Economic calendar, Financial portals, News sources, Investment guide, Global happenings, Interest rate decisions, Inflation data, Corporate earnings

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[srghousingfinanceblog]

SRG Housing Finance Ltd - Investor Desk

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[so-i-did-this-thing]

Hello! I hope you're doing well and I'd like to thank you for being the rad trans uncle of Tumblr. I'm in a fuckin' crimson state that's quite unfriendly to trans people and I'm afraid I won't be able to leave until 2028 at the earliest. Might I ask if there's anything you'd recommend doing? Anywho, I hope the leaves were great where you are! Peace!

It's been weird, but I'm glad to be here. :) As for recommendations, well, while you are not in a great place for trans rights, thinking ahead towards a move a few years down the road *is* good. Stuff you should be considering:

Get your finances in order.

Start with making a budget (I like the tool YNAB), tracking your habits, and looking for places to reduce spending. I know that can mean squeezing blood from a stone, but even saving up gas money for a cross-country trip can move up your moving timeline.

You also want to start planning your moving expenses. For example, buying boxes, using a moving service, cost to service your car, calming meds for your pets, etc. Just make a spreadsheet and keep adding as you think of things. Have a rolling total and track against your savings.

Lastly, get your credit score in order. A free service like Credit Karma is fine, but as you get closer to having to apply for rent or a mortgage, sign up with each credit agency and pull your report. Get caught up on any delinquencies asap and do not miss any payments from now until you are moved - missed payments take the longest of ANYTHING to fall off your score.

If you've changed your legal name, make sure it matches with all the credit bureaus. If you feel responsible with credit, ask for a credit line increase every 6 months - that will help with your debt ratio if you are currently trying to pay down a balance. Plan a credit score timeline with a hard stop at least 2 months before you apply for a loan/rent -- after that, no more making any big purchases or applying for new cards. Try to have no more of 10% of your total credit line actually on your cards by the end of your timeline. Aka, if your line of credit is $1,000, you only want $100 on the cards.

2. Start paring down your stuff

Gt crafty hobbies? Stop adding to your stash. Stop it. Start getting rid of broken things, clothes that don't fit, stuff you don't see yourself using, or stuff that is cheaper to sell & buy at your new place, rather than pay to move. If this all feels hard, put the items you're questioning in a box now, and then open it next year and see how you feel. Don't buy anything you wouldn't want to move.

3. Start your research

Make lists of towns that look promising. See how their local government works. Check the local reddits and facebook groups to get the vibes. Make lists of "must haves" and "nice to haves" at the state, city, neighborhood, and even house level. Get an idea for what the cost of living will be in your new place. Decide what your deal-breakers will be.

4. Work on your job skills

Four years is a lot of time to improve yourself for a good salary hike. It's a lot of time to get marketable for remote jobs, which will broaden your opportunities to live where you want. If remote work interests you, start looking at job listings and note the requirements. Make a plan to be qualified within 3 years.

5. Make a bucket list of things to do in your current state

There must be some good things about your state. There were in mine. Afford yourself grace and do some fun things that you might not have the chance to do again when you move. Hang out especially with local friends and family you care about.

6. Keep an eye on what's happening wrt trans rights.

Follow trans pundits and your local trans rights orgs. Get in the habit of learning what's going down in your municipality, down to the school board level. Be prepared to have to adjust your moving timeline if shit hits the fan.

7. Stay on top of your healthcare and legal stuff

No passport yet? Apply now. Forgetful about getting your HRT renewed? Set reminders and work hard to stay on top of everything. As you get closer to moving, research healthcare options in your new home and get appointments lined up asap.

8. If you're selling & buying a house, be prepared for it to take nearly a year

Seriously, it can take forever for everything to work out. Work with realtors in your new state who specialize in remote sales & relocations. Start repairing your current place by year 3 and start packing months in advance of the final move.

tldr; Treat the next 4 years like you're at college and your degree is Getting the Hell Outta Dodge. Plan as much as you can with to-do lists and spreadsheets, with some kind of monthly goal at first, then weekly and daily goals as your move approaches. It can feel overwhelming, but knowing *now* that you are going to move means you can plan as much as possible and reduce the amount of panic-decisions.

Good luck!

[shanastoryteller]

dead boy detectives fic progress report: 8k

[bisthefairy]

The average Mario Kart character owns 35 shitty businesses

[timblrdrake]

*tries to kick open the door, fails and spills coffee on herself as she twists open the knob, before kicking it open further*

surprise bitch i brought monster energy for you. the coffee is mine dont touch it. *sits in chair across from you and does a little spin* does this officially make me your favorite sibling after cass?

-@thebestofwaynes

oh my god you’re my hero

you’d be my favourite favourite if you let me have some of your coffee too

[nipuni]

Doctor Who report! We finished S8 and we loved it, Twelve is great! This season started really strong for us, we loved "Listen" and there were many fun episodes!! sadly the "kill the moon" episode also happened and it was such a mess that we are going to pretend it never did lmao I'd rather talk about what I loved instead and that is Missy!! HELLO?? I always enjoy The Master so this was such a treat!! I love her I hope she comes back next season!! Clara's and Danny's character development on the other hand we didn't enjoy as much and we felt it kind of went downhill since the moon episode but I'm curious to see where Clara's arc is going from here. I love Capaldi so damn much!! Also the 60 anniversary special is coming out tomorrow and we are so excited!! 😭 I need to draw so many things about this show already but things keep getting in the way AAA I have a ton of deadlines, a few events to attend to and a trip on top of it all next week so I'm losing my mind but I will have some art and stuff to share soon I promise!! I hope you are all doing well, I love reading your comments and opinions and I'm very grateful for the messages!!

[bitchesgetriches]

hi bitches! i was reading over my credit report recently and noticed that when my student loans changed servicers, something got weird. instead of the name on the account changing, it looks like it was added as a new account! now my report says i have double the amount of debt. is this just an error or something i should dispute? is this going to majorly affect my credit score?

RED ALERT!!!

Honey, we are SO proud of you for reviewing your credit report for this sort of chaos and shitfuckery. You're doing the lord's work!

Short answer is "all of the above." This IS an error, it IS something you should dispute, and it WILL affect your credit score. For the long answer, read these articles I wrote on how credit reports work and what to do if you find a weird mistake like this:

How To Fix an Error on Your Credit Report Without Losing Your Damn Mind 

Credit Scoring Is a Racist, Classist System that Has Us All Trapped

Ask the Bitches: What's the Difference Between Credit Checks and Credit Monitoring? 

Did we just help you out? Join our Patreon!

[haynesbookkeepingsolutions123]

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