Sphere On the Road to Profitability with More Shows Booked

Photo Credit: Harold Litwiler / CC by 2.0

The Sphere in Las Vegas is finally on its way to financial profitability two years after opening its doors.

Sphere Entertainment, which owns the $2.3 billion Sphere in Las Vegas, reported a net income of $151.8 million with revenue of $282.7 million during the fiscal quarter that ended on June 30. Last year during the same period, the company saw a net loss of $46.6 million with revenue of $273.4 million. The company is preparing to build another Sphere facility in the United Arab Emirates and is finally reaching profitability since it opened the Las Vegas venue’s doors in 2023.

“As we said from the start, our goal is to design and operate a venue that’s busy 365 days a year with multiple events on most days. And while we started in Las Vegas, our strategy has always included a global network of Sphere venues,” said Sphere Entertainment Chairman and CEO James Dolan in a conference call with investors on Monday (August 25).

“This year, our priorities have been to continue enhancing our operating model in Las Vegas, drive long-term profitability for the business, and advance our plans to bring Sphere to Abu Dhabi and additional markets around the world,” he added.

This week, a large portion of that goal will be realized. On August 28, an immersive version of “The Wizard of Oz” debuts at the Las Vegas Sphere. Using the cutting-edge technology for which the venue is known, the Sphere will present an immersive experience around the original 1939 film.

According to Dolan, the company has already sold more than 127,000 tickets for the production, with ticket sales expected to ramp up to 200,000 as the opening draws nearer.

Meanwhile, Dolan said the company has entered into construction, development, and operations agreements with the United Arab Emirates’ Department of Culture and Tourism to begin work on the Abu Dhabi Sphere project. Further, he said the company had completed its design and business model for small-scale Sphere venues, which he says they could build faster and at a lower cost.

Dolan says the smaller Spheres would seat around 5,000 people, compared to the 17,500-seat capacity in Las Vegas. The smaller venues would feature the same content as the large venues. This year, Dolan says the Las Vegas Sphere is slated to host 100 concerts, up from 70 in 2024.

And another film experience is already in production. “From the Edge,” directed by E. Chai Vasarhelyi and Jimmy Chin, will feature five extreme sports athletes: free diver Alenka Artnik, skier Markus Eder, rock climber Alex Honnold, BASE jumper Katie Hansen Lajeunesse, and surfer Kai Lenny. Filming is underway in Jordan, Dubai, Switzerland, the Bahamas, Austin, Maui, and Las Vegas, and is scheduled to debut next year.

Moreover, Sphere will continue to serve as a venue for corporate meetings. It hosted Hewlett-Packard for a second year in a row and recently announced it would host a keynote address for Lenovo at CES 2026 in January.

Revenue from sponsorships, signage, exosphere advertising, and suite license fees declined by $500,000 compared to the same quarter last year. The company cited lower exosphere advertising revenue, partially offset by an increase in sponsorship and suite license fees.

Link to the source article – https://www.digitalmusicnews.com/2025/08/26/sphere-profitability-q2-2025/