Sphere Entertainment Co. has reported significant financial improvements, marking a notable shift since the debut of its Las Vegas venue in 2023. The company posted a net income of $151.8 million for the quarter ending June 30, a stark contrast to the $46.6 million net loss during the same period last year. Revenue increased to $282.7 million from $273.4 million.
Chairman and CEO James Dolan emphasized the company’s strategy to maintain a year-round, busy schedule for the Las Vegas venue while planning to expand globally, including a new facility in Abu Dhabi. The upcoming immersive presentation of “The Wizard of Oz” has already sold over 127,000 tickets, with sales anticipated to reach 200,000.
Sphere is also advancing plans for smaller venues, which will be more cost-effective and quicker to construct, seating around 5,000 people compared to the 17,500 capacity in Las Vegas. These smaller venues will offer the same content as the larger ones.
The Las Vegas venue has hosted a variety of performances, including a new residency by the Backstreet Boys and a 15-show run by Kenny Chesney. Additionally, Sphere plans to release a new film, “From the Edge,” in 2026, showcasing extreme sports athletes and directed by E. Chai Vasarhelyi and Jimmy Chin.
Despite a slight decline in revenue from sponsorship, signage, and exosphere advertising, the company has seen an increase in sponsorship and suite license fees. Sphere continues to attract corporate events, hosting Hewlett Packard and planning a keynote for Lenovo at CES 2026.
