None
EN
Sphere Entertainment Revenue Rises 11% in Q2 on ‘Wizard of Oz’ Success
['Elizabeth Dilts Marshall']
Billboard
The Sphere segment, which generates revenue from Sphere Experience film showings, brand events, concert residencies and sponsorship and suite licensing fees, generated revenue of $226.4 million, up 29% compared to the year-ago quarter, mainly on more “per-performance” revenue from The Wizard of Oz at Sphere.
That translated to Sphere Experience-related revenue growing by $53.8 million in the second quarter from a year ago.
However, the company said it generated $150 million in ticketing and venue licensing fees from Sphere in Q2 overall.
That’s around $14 million less than the loss notched in the year-ago quarter thanks to higher revenue.
MSG Networks generated revenue of $87.3 million, down 18% from the year-ago quarter, primarily due to distribution revenue falling $13.7 million on a 16.5% decline in total subscribers.