MSG Sphere in Las Vegas | Photo by Harold Litwiler via Wikimedia Commons
Sphere Entertainment Co. reported higher revenue for the second quarter of fiscal 2025, driven by strong performances at its flagship Las Vegas venue, including a major milestone for its immersive show Postcard from Earth.
For the quarter ending June 30, the company’s Sphere segment posted $175.6 million in revenue, up 16% from the prior year. The increase was fueled by more concert residencies, corporate bookings, and expansion work on the company’s upcoming venue in Abu Dhabi.
In early June, The Sphere Experience featuring Postcard from Earth surpassed 4 million tickets sold since its October 2023 debut. The venue also hosted its first-ever country act, with Kenny Chesney wrapping a 15-show run in June. Residencies from the Eagles and Dead & Company also continued during the quarter, along with multiple corporate events, including a repeat booking by Hewlett Packard Enterprise.
Event-related revenue jumped $26.7 million year-over-year, thanks in part to nine more concert residency shows than the same quarter in 2024. Sphere also staged 215 performances of Postcard from Earth and V-U2 An Immersive Concert Film, compared to 208 performances of Postcard from Earth alone last year.
The company’s operating loss in the quarter improved to $50.2 million, down from a $71.4 million loss in the same period last year. Adjusted operating income rose to $61.5 million.
Executive Chairman and CEO James L. Dolan said the company remains focused on expanding the Sphere brand globally.
“We continue to execute our strategic priorities to drive long-term profitable growth for our Sphere business,” Dolan said in a press release. “At the same time, we have been making progress with our expansion plans and remain confident in the global opportunity ahead.”
| READ: Sphere to Launch 20,000-Capacity Venue in Abu Dhabi |
Sphere Entertainment is currently developing what will be the world’s second Sphere in Abu Dhabi, United Arab Emirates. Revenue from the project contributed to the quarter’s results, with the venue expected to bring the company’s large-scale immersive entertainment format to an international audience for the first time. The expansion signals Sphere’s intention to replicate its Las Vegas success in other markets, with Abu Dhabi serving as the first step in a planned global rollout.
Sphere Las Vegas opened in September 2023 and quickly became one of the most talked-about live entertainment venues in the world, combining massive LED visuals, advanced sound technology, and large-scale immersive storytelling.
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