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Revenue at Sphere in Las Vegas rose 14% to $198.9 million in the third quarter of 2026, and the venue’s operating loss narrowed to $67.0 million, Sphere Entertainment Co. reported on 5 November. The figures cover the Sphere segment, the venue and its shows, for the three months to 30 September.
The Wizard of Oz at Sphere was the quarter’s only Sphere Experience title, and it played 241 times. In the third quarter of 2025, The Wizard of Oz, Postcard from Earth and V-U2 An Immersive Concert Film played 220 times between them.
Revenue from the Sphere Experience rose $13.1 million. Sphere Entertainment said most of that came from the extra shows and less of it from higher revenue per show.
The title passed $400 million in ticket sales by mid-June, The VR Collective reported with the second quarter. It passed $500 million and four million tickets in late September, Sphere Entertainment said, and played its 1,000th show in October. Expanded 4D effects went into the show in late September. Sphere Entertainment expects its next title, The Rocky Horror Picture Show at Sphere, by the end of March 2027.
Sponsorship, advertising on the Exosphere (the building’s outer LED skin) and suite licence fees added $6.2 million, led by Exosphere advertising. Lyft signed a multi-year sponsorship during the quarter.
Event revenue rose $6.1 million, mostly from three more concert residency shows than in the same quarter of 2025. Metallica opened a residency in October with 24 concerts planned through March 2027. The Backstreet Boys are now booked for 63 nights and the Eagles for 74. Oprah Winfrey and John Mayer have announced residencies for 2027.
Direct operating expenses rose 6% to $83.8 million. Sphere Experience costs went up $7.6 million on the extra shows and higher costs per show. Selling, general and administrative expenses rose 6% to $98.3 million.
Adjusted operating income, the company’s measure before depreciation, share-based pay and similar charges, rose 90% to $32.4 million. The reported operating loss of $67.0 million compares with $84.4 million in the third quarter of 2025.
Over the first nine months of 2026 the segment took $691.2 million in revenue, up 36%. Its nine-month operating loss was $161.4 million, against $261.6 million in 2025. Nine-month adjusted operating income was $146.6 million.
Company revenue rose 4% to $274.3 million. The company-wide operating loss widened to $240.6 million on a $177.6 million write-down, costing no cash, of its MSG Networks TV business.
“Our Sphere segment remains on track to deliver substantial growth this calendar year,” said James L. Dolan, executive chairman and chief executive of Sphere Entertainment. He said the company is working towards “a global network of venues and a growing slate of original content.” Sphere Entertainment plans venues in Abu Dhabi and at National Harbor in Maryland.
For operators, Sphere added $13.1 million of show revenue mainly by playing its one immersive title more often. For investors, the segment’s adjusted operating income rose 90%, and it still reported a $67.0 million operating loss.
Company revenue was $274.3 million for the three months to 30 September 2026, up 4%. The Sphere segment took $198.9 million, up 14%, with an operating loss of $67.0 million.
241 times. It was the only Sphere Experience title on the schedule. In the third quarter of 2025, three titles played 220 times between them.
More than $500 million and four million tickets since August 2025, Sphere Entertainment said in late September. It played its 1,000th show in October 2026.
The Rocky Horror Picture Show at Sphere, which Sphere Entertainment expects to open by the end of March 2027.
