Published on: December 5, 2024, 01:41h.
Last revised on: December 5, 2024, 01:59h.
Since its opening in September 2023, the Las Vegas Sphere, known as the most innovative event venue globally, has lived up to its creative expectations. However, it faced financial challenges with operating losses of $125.1 million in the quarter ending September 2024. James Dolan, the executive chair and CEO of Sphere Entertainment, is focused on developing new programming to improve the financial performance. Here’s what to expect from the futuristic tech marvel in 2025.
Multiple Daily Events
The Sphere originally planned to debut its first film production, “Postcard from Earth” by Darren Aronofsky, on non-residency days to avoid scheduling conflicts and allow resident performers to acclimate to the new venue. However, to boost ticket sales, Dolan announced during Sphere Entertainment’s Q1 2025 earnings call that they have started showing the Sphere experience on the same day as residencies, and they intend to continue throughout Anyma’s multiday run starting around New Year’s Eve.
Wizard of Ahhs
Dolan mentioned to analysts on the November 12 call that the Sphere creative team is actively working on new productions for 2025. He did not provide specifics, referring to them as the Sphere’s secret “special sauce.”
Readers of Casino.org’s Vital Vegas learned in June that the Sphere is collaborating with Warner Bros. Pictures to adapt “The Wizard of Oz” for the Sphere’s next movie project. The 1939 classic will be condensed to 80 minutes, with visual and audio enhancements costing $80 million, according to the New York Post. Dolan assured analysts that it will be a great experience for audiences.
Even Better Than the Real Thing?
Dolan believes that capturing residencies in the Sphere and screening the results exclusively at the venue is the best way to generate profits long after the residency ends. He emphasized that this approach allows fans to experience concerts even years later.
Expect cinematic souvenirs from both the Eagles and Dead & Company residencies next year, as Dolan plans to leverage the Sphere’s Big Sky technology to capture performances. However, ticket sales for “V-U2: An Immersive Concert Film” remain sluggish, with over 80% of seats remaining unsold for upcoming showings. Despite this, ticket prices ranging from $100 to $246 have not been adjusted to meet the low demand.
“We’re still trying to figure out how to program the product,” Dolan admitted. “Do you program it like you program ‘Postcard from Earth’?”
Furthermore, the Sphere may not pursue one-off sporting events after mixed results with Ultimate Fighting Championship (UFC) 306. While UFC CEO Dana White praised the event, he noted that standalone sporting events are costly and may not be viable for the Sphere’s business model.