LAS VEGAS — The “Wizard of Oz” at Sphere is being trumpeted as “a groundbreaking project that melds cinematic nostalgia with cutting-edge technology.”

Such is the assessment of Y.M. Cinema Magazine, which highlights developments in cinematography and post-production topics. The pub has broken down the tech being employed for the production reportedly planned for the bulbous wonder.

The mag says the classic adaptation will:

— “Pay homage to the artistry and storytelling of ‘The Wizard of Oz’ while introducing it to a new generation.

— “Fully utilize the Sphere’s immersive technologies, including ultra-high-resolution visuals, spatial audio, and haptic feedback.

— “Demonstrate the possibilities of adapting legacy media to futuristic platforms.”

Conversely, “Wizard” at Sphere will NOT:

— Utilize the technology in Sphere’s 18K x 18K Big Sky camera system (Darren Aronofsky’s “Postcard From Earth” was shot with Big Sky cameras, to dazzling effect). The updated version focuses on digital enhancement (and cleanup) of existing footage.

— Be full-length. The new “Wizard” run time is reportedly being cut to 80 minutes. The shorter run time will allow for more shows to be seen per day and allow for Vegas visitors’ tight schedules and eagerness to pack multiple events into a single visit.

This is not specified in the Y.M. mag post, but it has been reported by multiple sources. So has the $80 million production cost, making “Wizard” a $1 million-per-minute venture.

This is considered an “average” gamble in the movie business. According to published reports, “Gladiator 2” cost shot to more than $300 million; “Dune: Part Two” cost $195 million. “Postcard” cost between $200-$300 million, as a customized project built from the ground up.

The “multisensory experience” is the venue’s anchor production. Sphere Global Head of Operations Bill Walshe said last week “Postcard” is “a Sphere experience that lots of guests come for.” The U2 concert film would also alternate showings with the new “Wizard” film.

If this all seems a tad premature, it’s because “Wizard” has not been formally confirmed or announced. Look for a May announcement, possibly June.

The objective, of course, is to reimagine a legendary piece of cinema in an unmatched environment. The hope, of course, is to draw the masses who love the tale of Dorothy, Tin Man, Cowardly Lion and Scarecrow — and the generation that has yet to meet them.

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