Sphere Entertainment is the company behind the Sphere venue in Las Vegas, which has played host to U2, Phish and Dead & Company so far, with the Eagles next up. It’s a public company, so its latest financial results show how those concerts are paying off.
Sphere Entertainment generated $1.03bn of revenues in its last financial year, which ran to the end of June. However, $492.7m of those came from the Sphere part of the business, with the other $529.7m generated by its sports-broadcasting division MSG Networks, which is also part of the company.
The financials also break down the numbers for the last quarter (Q2 – Sphere’s fiscal Q4). Sphere made $74.5m from 208 performances of its ‘The Sphere Experience’ attraction; $58.4m from concerts and other events held at the venue; and $15.9m from advertising and suite licensing.
This is not yet making the business profitable though: the Sphere division’s operating loss was $104.5m last quarter, and $480.4m for the last financial year.
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