Financial research concept

Entertainment Venue Entertainment Revenue Mix

measures entertainment revenue as a percentage of total venue revenue.

By Lee BaileyPublished Sep 26, 2026

Research context

See what supports this page, how current it is, and where comparable or historical context is available.

Research date: Sep 26, 2026Use the dated article and cited sources for the definition, examples, and stated limitations.
Operating-model context: 17 connected conceptsPart of the reviewed Entertainment Venue Store Economics; issuer definitions remain distinct where disclosed.
Company examples: 1 reviewed companyRelationships reflect supported examples, not a normalized cross-company KPI ranking.

Mix shifted toward food and beverage
Revenue mix can change even when total revenue barely moves
Mix is not margin
Part of the Entertainment Venue Store Economics
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Entertainment venue entertainment revenue mix measures how much of total company revenue comes from games and other entertainment activities.

Dave & Buster's reported entertainment revenue equal to 62.9% of total revenue in fiscal 2025, down from 65.2% in fiscal 2024.

Mix shifted toward food and beverage

Entertainment revenue declined to $1.3235 billion from $1.3910 billion, while food-and-beverage revenue increased to $779.3 million from $741.7 million.

As a result, food-and-beverage revenue mix rose to 37.1% while entertainment's share fell.

That shift matters because the two revenue streams carry different direct product-cost structures.

Revenue mix can change even when total revenue barely moves

Total revenue fell 1.4% in fiscal 2025, but the composition moved more meaningfully. A mix metric therefore helps explain changes in gross economics that total revenue growth alone can hide.

At Dave & Buster's, entertainment had a direct product cost rate of 8.1%, compared with 24.8% for food and beverage.

Mix is not margin

A larger entertainment share does not automatically mean higher total store profitability. Entertainment and food-and-beverage revenue still absorb payroll, occupancy, maintenance, marketing, utilities, and other store-level costs.

Use revenue mix to understand what customers are buying, then pair it with the relevant cost rates and store operating expenses.

Primary source: Dave & Buster's fiscal 2025 Form 10-K.

Part of the Entertainment Venue Store Economics

Connects entertainment and dining revenue mix with product-cost rates, comparable-store performance, new-store development and maturation, operating-cost leverage, pre-opening expense, and capital reinvestment for large-format entertainment venues.

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Where this concept fits

Revenue mix, direct product costs, and store-level operating leverageCurrent relationship
Entertainment and food-and-beverage revenue mix show what customers spend on inside the venue. Their direct product cost rates preserve different denominators, while payroll and other store operating expense rates show additional store-level cost intensity against total revenue.
Entertainment Cost Rate Entertainment RevenueEntertainment Revenue MixCurrent conceptFood & Beverage Cost Rate Food & Beverage Revenue Food & Beverage Revenue Mix Operating Payroll Rate Other Store Operating Expense Rate
Seasoned-store performance, noncomparable exposure, and new-store maturation
Comparable-store sales growth measures the seasoned base, while comparable and noncomparable operating weeks expose the time contribution behind each population. The comparable-store base count and honeymoon effect help distinguish mature-store performance from early new-store sales patterns.
Comparable Store Base Count Comparable Store Operating Weeks Comparable Store Sales Growth New Store Honeymoon Effect Noncomparable Store Operating Weeks
Footprint expansion, launch expense, and capital reinvestment
Ending company-owned store count and new-store openings show the physical venue base and expansion flow. Pre-opening costs capture launch expense before operations begin, while capital expenditures show cash invested in new stores, remodels, games, technology, and other property and equipment.
Capital Expenditures Company-Owned Store Count New Store Openings Pre-Opening Costs

See It in Company Research

These companies are examples of how the concept is reported or discussed in public filings. Definitions can differ by issuer; these links open company research rather than a normalized metric comparison.

PLAYOpen operating-model research →17 of 17 reviewed concepts in Entertainment Venue Store EconomicsRevenue mix, direct product costs, and store-level operating leverage8 of 8 bridge concepts supportedContinue through this bridge:Entertainment Cost Rate Entertainment Revenue Food & Beverage Cost Rate Food & Beverage Revenue Food & Beverage Revenue Mix Operating Payroll Rate Other Store Operating Expense Rate

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Compare revenue mix economics

Compare venue operators where entertainment and dining carry different product-cost and margin characteristics.

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