LAS VEGAS, Nev. (FOX5) – The Sphere is reporting steep losses in the first fiscal quarter of 2025.
During the quarter, the Sphere introduced the U2: Immersive Concert Film, The Eagles residency, and hosted UFC 306 Noche. A new Sphere venue in Abu Dhabi was also announced last month.
According to an earnings release, the Sphere itself reported $ 125.1 million in losses and 127.1 million in revenue for the quarter. The adjusted operating loss sits at $26.1 million.
They also note that these losses were partially offset by an increase in revenue, but also “higher depreciation and amortization, direct operating expenses and selling, and general and administrative expenses.”
In an earnings call, CEO James Dolan described the venue’s first year as “the first pancake.”
“It’s the first time we’ve done it. And we’ve learned and we’re getting better at it,” he shared. “…Going into the beginning of the year, we’re looking pretty good.”
He continued, “I wish that the day we let it up that we knew exactly how to run it, exactly how to sell it and exactly how to program it, et cetera, but that’s just not the case. So more to come.”
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