Sphere Entertainment Co Stock Price, News & Analysis

UFC 306 at RIYADH SEASON NOCHE UFC, held on September 14 at Sphere in Las Vegas, set multiple records, including the highest-grossing UFC event ever with a $22 million gate and a sold-out crowd of 16,024. The event also marked the highest-grossing single event at Sphere.

Notable achievements include:

• Highest-grossing sponsorship sales for a UFC event
• First UFC event with a title partner (Riyadh Season)
• Record merchandise sales and per-cap for both UFC and Sphere
• 89% of ticket buyers from outside Nevada

The event featured innovative technology, including live fighter heart rate tracking, novel Octagon lighting, and haptic seats. It also showcased a premiere film, 'For Mexico, For All Time', celebrating Mexican culture and history.

Gotham Advanced Media and Entertainment (GAME), a joint venture between MSG Networks and YES Network, is set to launch The Gotham Sports App this fall before the NBA and NHL regular seasons. The app will be the exclusive streaming platform for MSG+ and YES App content, featuring teams like the New York Knicks, Rangers, Yankees, and Brooklyn Nets.

Authenticated subscribers within the regional coverage areas will access the app at no additional cost. The app will offer enhanced features such as advanced live stats, free-to-play games, and a loyalty program. For non-traditional TV subscribers, various subscription options will be available, including individual services and a combined Gotham Package.

The app aims to provide a unified, convenient platform for New York area sports fans, addressing the increasing fragmentation of sports programming outlets.

Sphere Entertainment Co. announced a groundbreaking cinematic experience, V-U2 An Immersive Concert Film, to be shown exclusively at Sphere Las Vegas starting September 5, 2024. Directed by Morleigh Steinberg and The Edge, the film showcases U2's history-making U2:UV show that played to over 700,000 fans across 40 sold-out dates from September 2023 to March 2024.

V-U2 is the first film shot entirely with Big Sky, Sphere's ultra-high-resolution camera system. It utilizes Sphere's immersive technologies, including the world's highest-resolution LED screen, Sphere Immersive Sound, and haptic seats, to create a larger-than-life concert experience. The film aims to transport audiences back to U2's groundbreaking live Sphere shows, making them feel like they are there.

Sphere Entertainment Co. (NYSE: SPHR) reported fiscal 2024 fourth quarter and full-year results. Key highlights include:

- Revenues of $1,026.9 million for fiscal 2024, up $453.1 million from prior year

- Operating loss of $341.2 million, increased by $68.2 million

- Adjusted operating income of $80.7 million, improved by $203.3 million

- Q4 revenues of $273.4 million, up $144.3 million year-over-year

- Sphere segment reported Q4 revenues of $151.2 million, including $74.5 million from The Sphere Experience

- MSG Networks segment Q4 revenues decreased 5% to $122.2 million

- MSG Networks facing debt refinancing challenges, pursuing work-out with lenders

Sphere Entertainment Co. (NYSE: SPHR) has announced it will host a conference call on August 14, 2024 at 10:00 a.m. Eastern Time to discuss its fiscal fourth quarter and full-year results for the period ended June 30, 2024. The company will release its financial results before the market opens on the same day. Interested parties can participate via telephone by dialing 888-800-3155 with the conference ID 8089430, or through a webcast available on the company's investor relations website. For those unable to join live, a replay will be accessible by phone until August 21, 2024, and the webcast recording will be available on the website for the same duration.

Sphere Entertainment will mark the one-year anniversary of the Exosphere's first illumination with a special Fourth of July show and the launch of 'XO Stream' and 'XO Audio' presented by Verizon. The show will feature immersive content, including a tribute to America in six acts, and highlight Sphere's architectural impact. 'XO Stream,' a 24/7 livestream of the Exosphere, will be accessible via thesphere.com and YouTube, while 'XO Audio' will provide synced audio experiences online and onsite. A pre-show ceremony will honor student artists from Las Vegas.

Sphere Entertainment Co. (NYSE: SPHR) has appointed Carolyn Blackwood as the Head of Sphere Studios, which specializes in creating multi-sensory entertainment experiences. Blackwood, with over 25 years of experience in the media and entertainment sector, will manage the Burbank-based Sphere Studios. She will oversee creative, production, and technological teams and work closely with MSG Ventures to enhance production capabilities. Blackwood's prior roles include Chief Operating Officer at Warner Bros. Pictures Group and President and Chief Content Officer at New Line Cinema, where she managed blockbuster projects and contributed to over $1 billion in global box office earnings annually for three consecutive years.

Sphere Entertainment announced the expansion of Jennifer Koester's role to President and Chief Operating Officer of Sphere. Koester, who joined the company in February 2024 from Google, will now oversee Sphere Studios and lead strategic business initiatives across various entertainment categories. Her new responsibilities include maximizing venue utilization, driving strategic partnerships, and growing Sphere as a premium global brand. With 30 years of experience in technology, media, and entertainment, Koester brings a wealth of expertise to her expanded role.

Sphere Entertainment Co. (NYSE: SPHR) has launched the Sphere XO Student Design Challenge, allowing the public to vote on art to be displayed on the Exosphere, the world's largest LED screen in Las Vegas. This event marks the first time the public will choose artwork for the Exosphere and the first public-created art display. Voting is open until June 5, 2024, at thesphere.com/xo-student-design-challenge. Over 100,000 students from Clark County participated, with 100 finalists chosen. Four winners from each student group (elementary, middle, high school, and college) will be selected by public voting and professional artists. Winners will have their art displayed on July 4, 2024, and receive educational scholarships or donations towards their school’s art programs.