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FLTech
Atlanta Braves Fan
the A
Member since Sep 2017
11270 posts

The new Las Vegas Sphere is not doing well at all

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.



SquatchDawg
Georgia Fan
Cohutta Wilderness
Member since Sep 2012
13840 posts

re: The new Las Vegas Sphere is not doing well at all
Shit. I was hoping to try and see U2 there before they leave.


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Breesus
USA Fan
House of the Rising Sun
Member since Jan 2010
66961 posts

re: The new Las Vegas Sphere is not doing well at all
quote:

which opened with a set from U2 on September 29,




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1083
SUB
LSU Fan
Member since Jan 2001
Member since Jan 2009
20441 posts

re: The new Las Vegas Sphere is not doing well at all
They should have had a more well-rounded plan for it.


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1732
Splackavellie
New Orleans Pelicans Fan
Bayou
Member since Oct 2017
9647 posts
 Online 

re: The new Las Vegas Sphere is not doing well at all


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1233
Witty_Username
Member since Jul 2021
407 posts
 Online 

re: The new Las Vegas Sphere is not doing well at all
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.


LSU1SLU
Southeastern LA Fan
Member since Mar 2013
6984 posts

re: The new Las Vegas Sphere is not doing well at all
some idiot boomer said, "U2 lets pick them, that'll get the people going."


UnitedFruitCompany
Stanford Fan
Bay Area
Member since Nov 2018
3271 posts

re: The new Las Vegas Sphere is not doing well at all
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.


jbgleason
LSU Fan
Bailed out of BTR to God's Country
Member since Mar 2012
18757 posts

re: The new Las Vegas Sphere is not doing well at all
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.


Chicken
USA Fan
Jackassistan
Member since Aug 2003
21600 posts

re: The new Las Vegas Sphere is not doing well at all
I saw that they can do MMA and boxing there...

Is anyone else using it besides U2 right now?


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JackieTreehorn
Atlanta Braves Fan
Malibu
Member since Sep 2013
28498 posts

re: The new Las Vegas Sphere is not doing well at all
Bass Pro Shop incoming


CatfishJohn
LSU Fan
Member since Jun 2020
12743 posts

re: The new Las Vegas Sphere is not doing well at all
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.


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225
LSUPERMAN
LSU Fan
Louisiana
Member since Aug 2007
2408 posts

re: The new Las Vegas Sphere is not doing well at all
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 at 4:22 pm


Funky Tide 8
Alabama Fan
Tittleman's Crest
Member since Feb 2009
52191 posts

re: The new Las Vegas Sphere is not doing well at all
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?



LSU82BILL
LSU Fan
Fort Lauderdale, FL
Member since Sep 2006
10271 posts

re: The new Las Vegas Sphere is not doing well at all
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.


Chucktown_Badger
Wisconsin Fan
The banks of the Ashley River
Member since May 2013
30684 posts

re: The new Las Vegas Sphere is not doing well at all
I think that thing is an eyesore.


Sao
SMU Fan
East Texas Piney Woods
Member since Jun 2009
64786 posts
 Online 

re: The new Las Vegas Sphere is not doing well at all


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467
Cosmo
UNO Fan
glassman's guest house
Member since Oct 2003
119670 posts
 Online 

re: The new Las Vegas Sphere is not doing well at all
Sounds like a nice tax writeoff


STigers
LSU Fan
Gulf Coast
Member since Nov 2022
1172 posts

re: The new Las Vegas Sphere is not doing well at all
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.


Witty_Username
Member since Jul 2021
407 posts
 Online 

re: The new Las Vegas Sphere is not doing well at all
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.


News Link


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