Over the past month, Sphere Entertainment’s stock has surged about 46%, driven largely by the strong performance of its immersive cinematic attraction, The Wizard of Oz at Sphere.
Shares climbed roughly 19.3% this week, closing at approximately $58.33. This marks the fourth straight weekly gain for the company. The Wizard of Oz at Sphere reportedly opened to robust ticket sales and critical acclaim. The show cost over $100 million to produce, and so far it has outperformed earlier Sphere film projects like Postcards from Earth and V-U2.
Because the Sphere venue is expensive to build and maintain — particularly with such a massive, high-tech setup — it depends on consistent high utilization to turn a profit. Live shows often split revenue with artists and performers, but weekend runs of The Wizard of Oz give Sphere a greater share of ticket income.
The Sphere has been taken over from the dance side thanks to Insomniac and Tomorrowland. Their Unity shows have been a huge hit with the community, and they continue to add more. They have shows scheduled for September and October with DJ Snake, Alan Walker, MEDUZA & James Hype, SLANDER, Sara Landry, and Subtronics all billed as headliners.