How Sphere posted record-breaking numbers for '24
Published in Entertainment News
LAS VEGAS — For the Sphere, $420.5 million is a nice, round number.
That’s the total gross the venue has reported for concerts in 2024, according to Billboard’s annual Top Venues list.
The published report covers venues with a capacity of 15,001 or higher. Sphere’s $420 million-plus of revenue from 1.3 million tickets sold is by far the top gross for any venue in Billboard Boxcore’s 50-year history.
According to Billboard, the Sphere is the first facility to record a year-end gross of more than $300 million. Only four touring artists have posted numbers higher than the Sphere’s one-year numbers: The Rolling Stones in 2006; Ed Sheeran in 2018; Beyoncé in 2023; and, based on final reports for “The Eras Tour,” Taylor Swift in 2023 and ‘24.
Sphere Executive Chairman and CEO James Dolan has said his goal is to present entertainment every day — sometimes multiple events through the day and night — moving into 2025.
But the high-grossing figures don’t necessarily correlate to overall profitability. The Sphere reported a decline in revenue in the third quarter, despite showing progress overall. The company reported an operating loss of $125.1 million on revenue of $127.1 million for the quarter that ended Sept. 30. For the two previous quarters, it reported $151.2 million and $170.4 million in revenue.
MSG Entertainment, which operates the Sphere in Las Vegas, also runs the Big Dome in Burbank, California, which is a quarter of the Sphere’s size and does not produce ticket revenue. The company uses it to test future productions for the Sphere.
In Las Vegas, the Eagles are the bulbous wonder’s current resident headliners, running at least through April, though Dolan has said the band can play as many dates as it likes. Billboard reports the band’s first eight shows scored $42.2 million and sold 131,000 tickets.
U2, Phish and Dead & Company are the rock bands that have cycled in and out of the Sphere, and Dead & Co. has reupped its series from March through May. Afterlife’s “The End Of Genysys,” featuring EDM trailblazer Anyma, plays a half-dozen dates around New Year’s Eve. Whether it’s a short residency or an extended engagement, the production is the first EDM show to play there.
The residency headliner lineup draws superstars in the same way PH Live, Dolby Live, The Colosseum at Caesars Palace and Resorts World Theatre. But the high capacity, selling 15,000-17,000 per show, puts the Sphere on another planet.
And the boffo UFC 306 fight card was staged at the Sphere, though the $22 million gate is not included in Billboard’s tally, which covers music performances. The theatrical productions Darren Aronofsky’s “Postcard From Earth” and “V-U2 An Immersive Concert Film” anchor the programming.
What’s coming next?
Speculation abounds as to future headliners, with Harry Styles resurfacing as a top name. (He’s under entertainment power player Irving Azoff management, and Azoff’s company reps previous Sphere headliners.) A scaled-back, 80-minute version of “The Wizard of Oz” is also reportedly being developed, targeting a May launch.
Billboard’s numbers behind the Sphere’s resident headliners:
—“U2: UV Achtung Baby” reported a $244.5 million gross, selling 663,000 tickets, over 40 shows. That is the fourth highest-grossing residency in Boxscore history, despite running for just six months with 40 shows (Billy Joel’s Madison Square Garden is No. 3 on the all-time list, playing for 10 years and 104 shows).
—Phish’s four shows from April 18-21 recorded $13.4 million, selling 66,700 tickets.
—Dead & Company played 30 shows between May 16 and Aug. 10. The production landed in the top 10 of Boxscore listings, with $131.8 million and 477,000 tickets. That is the highest gross of any Dead & Co. tour, dating to the band’s creation in 2015.
Along with “Wizard of Oz,” expect more Sphere film productions. Dolan said in November’s first-quarter earnings call that he loves the U2 concert movie and wants to extend the live-concert experience for headliners.
“You feel like you’re at the concert,” Dolan said of the new U2 concert film. “So, you know, we have some great bands that are coming in over the next year. And so I think we will continue to capture their concerts using our Big Sky technology. How we then bring it to the public and market it, I think we’re still trying to figure out what’s the best way.”
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