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Started By
Message
The new Las Vegas Sphere is not doing well at all
Posted on 11/9/23 at 4:11 pm
Posted on 11/9/23 at 4:11 pm
Uh oh…
Less than two months after its grand opening, MSG Sphere in Las Vegas has reported losses of $98.4 million.
The luminescent venue, which opened with a set from U2 on September 29, is thought to have brought in far less than originally estimated from operators MSG — with documents suggesting Sphere’s CFO Gautam Ranji has quit his post.
Reports from @nypost reveal that expected revenues of around $117.3 million were expected in its first month, but the newly-minted arena brought in just $4.1 million.
Less than two months after its grand opening, MSG Sphere in Las Vegas has reported losses of $98.4 million.
The luminescent venue, which opened with a set from U2 on September 29, is thought to have brought in far less than originally estimated from operators MSG — with documents suggesting Sphere’s CFO Gautam Ranji has quit his post.
Reports from @nypost reveal that expected revenues of around $117.3 million were expected in its first month, but the newly-minted arena brought in just $4.1 million.
49
Posted on 11/9/23 at 4:15 pm to FLTech
shite. I was hoping to try and see U2 there before they leave.
Posted on 11/9/23 at 4:15 pm to FLTech
quote:
which opened with a set from U2 on September 29,
Posted on 11/9/23 at 4:15 pm to FLTech
They should have had a more well-rounded plan for it.
Posted on 11/9/23 at 4:15 pm to FLTech
Posted on 11/9/23 at 4:16 pm to FLTech
For the month of October, revenue of $4.1 million is roughly $132,000 per day while their hopeful revenue of $117.3 million is nearly $3.8 million per day.
I'd say they missed the mark.
I'd say they missed the mark.
Posted on 11/9/23 at 4:17 pm to FLTech
some idiot boomer said, "U2 lets pick them, that'll get the people going."
Posted on 11/9/23 at 4:17 pm to FLTech
Right. they will shut down tomorrow im sure.
They didnt build this thing to break even in two years like ol JJ did in Dallas. Anything they report before year 5 is strictly for tax purposes.
They didnt build this thing to break even in two years like ol JJ did in Dallas. Anything they report before year 5 is strictly for tax purposes.
Posted on 11/9/23 at 4:19 pm to FLTech
Not a lot of choices for that place. What are you going to do? Turn it into a McDonald's?
It's going to be a venue one way or the other.
It's going to be a venue one way or the other.
Posted on 11/9/23 at 4:19 pm to jbgleason
I saw that they can do MMA and boxing there...
Is anyone else using it besides U2 right now?
Is anyone else using it besides U2 right now?
Posted on 11/9/23 at 4:20 pm to FLTech
Bass Pro Shop incoming
Posted on 11/9/23 at 4:21 pm to jbgleason
quote:
Not a lot of choices for that place. What are you going to do? Turn it into a McDonald's?
It's going to be a venue one way or the other.
Exactly. Maybe someone will buy it for a steal, but I'm guessing they will be fine eventually. I hate Vegas, but I have now put this place on my short list of venues I need to see.
Posted on 11/9/23 at 4:21 pm to Witty_Username
quote:
hopeful revenue of $117.3 million is nearly $3.8 million per day.
I just looked it up and tickets range from $169-$249. If you do an average, you need approximately 20,000 visitors a day!
This post was edited on 11/9/23 at 4:22 pm
Posted on 11/9/23 at 4:23 pm to Witty_Username
quote:
For the month of October, revenue of $4.1 million is roughly $132,000 per day while their hopeful revenue of $117.3 million is nearly $3.8 million per day.
I mean, how in the hell did they fathom that that could be accomplished?
Posted on 11/9/23 at 4:23 pm to LSU1SLU
quote:
some idiot boomer said, "U2 lets pick them, that'll get the people going."
Yeah, because contracting with the 2nd highest grossing live musical artists in 2022 was a real hare-brained scheme.
Posted on 11/9/23 at 4:24 pm to LSU82BILL
I think that thing is an eyesore.
Posted on 11/9/23 at 4:24 pm to FLTech
Posted on 11/9/23 at 4:25 pm to FLTech
Sounds like a nice tax writeoff
Posted on 11/9/23 at 4:26 pm to Chicken
I still think U2 was a good opener.
Maybe going to Las Vegas plus going to an expensive concert is where some are drawing the line in this economy.
Also it would be the last place I would want to see a concert. I don’t want all the extra lights and lasers. Too much going on. It’s definitely going to have to be for particular entertainment.
Maybe going to Las Vegas plus going to an expensive concert is where some are drawing the line in this economy.
Also it would be the last place I would want to see a concert. I don’t want all the extra lights and lasers. Too much going on. It’s definitely going to have to be for particular entertainment.
Posted on 11/9/23 at 4:27 pm to Funky Tide 8
quote:
I mean, how in the hell did they fathom that that could be accomplished?
I think they sell advertisements on the outside of it. Basically a massive billboard. They'd need to sell quite a bit of advertising though:
quote:
According to an agency pitch deck reviewed by News 3, a one-week campaign could cost $650,000. A one-day campaign will cost $450,000. A representative with the agency confirmed the Sphere provided those numbers.
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