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Sphere Entertainment Co.<\/a><\/strong> has secured a USD $1.7 billion<\/strong> investment from Abu Dhabi\u2019s<\/strong> Department of Culture and Tourism (DCT Abu Dhabi<\/strong>) to build the first Sphere<\/strong> venue outside the United States<\/strong>.<\/p>\n The investment covers the construction phase of Sphere Abu Dhabi<\/strong>, which will be built on Yas Island<\/a><\/strong> and is expected to be completed by the end of 2029<\/strong>.<\/p>\n That means the NYSE<\/strong>-listed company (SPHR<\/strong>) will not be putting up its own capital to fund the venue\u2019s construction \u2013 a model consistent with the franchise approach Sphere Entertainment<\/strong> has pursued for its international expansion.<\/p>\n When the Abu Dhabi<\/strong> partnership was first announced in October 2024<\/a>, MBW<\/strong> reported that DCT Abu Dhabi<\/strong> would pay Sphere Entertainment<\/strong> a \u201cfranchise initiation fee\u201d for the right to build the venue using the company\u2019s proprietary designs, technology, and intellectual property.<\/p>\n The $1.7 billion<\/strong> construction cost announced on Thursday (May 14) now puts a price tag on that commitment.<\/p>\n \u201cIn a region where the appetite for world-class experiences continues to grow, our USD 1.7 billion investment in its construction phase sends a clear signal: Abu Dhabi is open, ambitious, and unwavering in its direction.\u201d<\/p>\n HE Mohamed Khalifa Al Mubarak, DCT Abu Dhabi<\/b><\/span><\/p>\n<\/blockquote>\n HE Mohamed Khalifa Al Mubarak<\/strong>, Chairman of DCT Abu Dhabi<\/strong>, said: \u201cAbu Dhabi has always built for the long term, and Sphere Abu Dhabi is a powerful demonstration of that commitment.<\/p>\n \u201cIn a region where the appetite for world-class experiences continues to grow, our USD 1.7 billion investment in its construction phase sends a clear signal: Abu Dhabi is open, ambitious, and unwavering in its direction.<\/p>\n \u201cThis project reflects the strength of Abu Dhabi\u2019s international partnerships, built on shared ambition and mutual confidence in what this emirate represents as a global destination.<\/p>\n \u201cTogether, we are creating a venue that will draw our community, visitors, creators and investors to Yas Island and Abu Dhabi for decades to come.<\/p>\n \u201cAnd at its heart, Sphere Abu Dhabi will be a platform for Emirati culture, Emirati talent and Emirati storytelling, shared with the world on the grandest stage ever built.\u201d<\/p>\n James L. Dolan<\/strong>, Executive Chairman and CEO of Sphere Entertainment<\/strong>, said: \u201cSphere Abu Dhabi is the first step in realizing our vision for a global network of venues.<\/p>\n \u201cAbu Dhabi is a premier international capital city, and its ambition, infrastructure, and position as a cultural crossroads make it a natural home for Sphere.<\/p>\n \u201cAbu Dhabi is a premier international capital city, and its ambition, infrastructure, and position as a cultural crossroads make it a natural home for Sphere.\u201d<\/p>\n James L. Dolan, Sphere Entertainment<\/b><\/span><\/p>\n<\/blockquote>\n \u201cSphere Abu Dhabi will establish Yas Island as a destination in the region for immersive experiences, and we look forward to working with DCT Abu Dhabi to see this venue come to life.\u201d<\/p>\n Dolan also serves as Executive Chairman and CEO of Madison Square Garden Entertainment<\/strong>.<\/p>\n Sphere Abu Dhabi<\/strong> will be built on a plot of land between Yas Mall<\/strong> and SeaWorld Abu Dhabi<\/strong>, with a capacity of up to 20,000<\/strong> \u2013 echoing the scale of Sphere<\/strong> in Las Vegas<\/strong>.<\/p>\n The venue will host three main categories of events: Sphere Experiences<\/strong>, proprietary immersive productions featuring multi-sensory storytelling; concert residencies; and marquee and brand events.<\/p>\n Plans include the creation of Sphere Experiences<\/strong> conveying Emirati<\/strong> culture and heritage, the display of Emirati<\/strong> artists\u2019 work on the Exosphere<\/strong> \u2013 the spherical LED screen that forms the venue\u2019s exterior \u2013 and concerts featuring local and Arabic artists alongside global acts.<\/p>\n The $1.7 billion<\/strong> investment in Sphere Abu Dhabi<\/strong> dwarfs the funding model for the company\u2019s other announced expansion project.<\/p>\n Sphere Entertainment<\/strong> in January confirmed plans for a smaller-scale, 6,000<\/strong>-capacity venue at National Harbor in the Washington, D.C. metropolitan area<\/a>, which would utilize a combination of public and private funding, including approximately $200 million<\/strong> in state, local, and private incentives.<\/p>\n Plans to build a Sphere<\/strong> in London<\/strong> were scrapped in January 2024<\/a> after Mayor Sadiq Khan<\/strong> blocked the project.<\/p>\n The first Sphere<\/strong> venue opened in Las Vegas<\/strong> in September 2023<\/strong> and has since hosted concert residencies from acts including the Eagles<\/strong>, Dead & Company<\/strong>, Phish<\/strong>, the Backstreet Boys<\/strong>, and Kenny Chesney<\/strong>.<\/p>\n Metallica<\/strong> has announced<\/a> a 24<\/strong>-concert residency at Sphere<\/strong> beginning in October 2026<\/strong>.<\/p>\n Sphere Entertainment<\/strong> reported revenues of $386.4 million in Q1 2026<\/a>, up 38%<\/strong> year-over-year, with its Sphere<\/strong> segment generating $266.0 million<\/strong> \u2013 up 69% YoY<\/strong>.<\/p>\n For the full year 2025<\/strong>, the company reported revenues of $1.22 billion<\/a>, up 8%<\/strong> year-over-year.<\/p>\n\n
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