The Sphere loses 100 million its first quarter.

[accountinquestion]

https://lasvegassun.com/news/2023/no...oss-cfo-quit//

Epic.

[MaxPen]

Their CFO quit. I'm just waiting for it to turn into a billboard.

[accountinquestion]

Their CFO quit. I'm just waiting for it to turn into a billboard.

If there is no contract preventing this then for sure. lol.

RIP

[MisterV]

Nice platform for porn.

[smurgerburger]

Wow, if I'm not misreading that's only $6.7m revenue for the entire quarter. That's revenue, not profit...

[DGenBen]

Cubes usually perform better.

[accountinquestion]

Wow, if I'm not misreading that's only $6.7m revenue for the entire quarter. That's revenue, not profit...

They listed 2 sources of revenue but it wasn't clear if that was most of the revenue. If they make 4 million off a U2 concert then how are they ever going to make up the other 90 million? lol.

What is the length of time before they stop upkeeping it and the locals complain about the 'eye sore' ? Less than 10 years for sure.

[Don Perignom]

For the quarter, company revenues were $8m Sphere segment, and 110m MSG Networks segment.

Reportedly, the 118m total revenue was slightly ahead of analyst expectations. SPHR stock looks to be up on the news. Today it's +6% to near $34 per share.

[Don Perignom]

I may have my dates mixed up, but the CFO resigned over the weekend and the stock sold off 10% Monday morning on the news. But then it rebounded somewhat because there wasn't anything horrific in the earnings report.

As for the low revenues at the Vegas venue, it opened 9/29 and the quarter ended 9/30. That's only two days of operation, yes? Of course the revenues were low.

Positions in stocks mentioned: none.

[MisterV]

It's a totally new concept and could take a bit of time for ma and pa kettle to warm up to it.

My suggestion: book Taylor Swift for a residency: ka-ching.

[accountinquestion]

I may have my dates mixed up, but the CFO resigned over the weekend and the stock sold off 10% Monday morning on the news. But then it rebounded somewhat because there wasn't anything horrific in the earnings report.

As for the low revenues at the Vegas venue, it opened 9/29 and the quarter ended 9/30. That's only two days of operation, yes? Of course the revenues were low.

Positions in stocks mentioned: none.

I was thinking it might be something like this but I didn't expect a 1 day quarter. TY for your analysis. lol.

Too bad. I was romanticizing some business guy fucking up in some grandiose manner.

I had a friend telling me he was paying like 2k for a weekend's worth of rooms for a concert series with blink183 and green day.

One of these days I'll make it to the big Las Vegas.

[Don Perignom]

I was thinking it might be something like this but I didn't expect a 1 day quarter.

I'm still wondering if I missed something. Maybe people thought more revenue would come pre-opening from advertising and licensing, but I looked at the earnings call transcript from August, and they really didn't promise anything.

I think occupancy will be very important to their success because they're talking about "theoretically" operating 365 days a year.

[Dan Druff]

Unlike the F1 race, which is now universally hated by locals (and some tourists), the sphere is a beloved addition to the city.

I have been in Vegas a lot since it was turned on, and admit it looks really cool. My son (who is 13) is excited to see it next time he's in Vegas. The U2 concert was also well regarded, with the only criticism being that the sphere's technology could have been utilized even more.

However, looking cool doesn't mean profit.

[ftpjesus]

Solution turn it into a giant eye on the city. I mean think about it they could generate major revenue if people can buy space on it to do goofy shit and Ill bet it would work. (im thinking beyond just the 3D spherical billboard idea somebody mentioned)

[MisterV]

It could generate revenue by allowing customers to post birthday. wedding or anniversary messages with photos.

Or simply photos: pay to post "for all the world to see."

It could work.

[MaxPen]

It could generate revenue by allowing customers to post birthday. wedding or anniversary messages with photos.

Or simply photos: pay to post "for all the world to see."

It could work.

It costs something like $450k to buy that place for 24 hours so I don't think birthday messages is at all scalable or even has a place in the lineup.

[monet]

Unlike the F1 race, which is now universally hated by locals (and some tourists), the sphere is a beloved addition to the city.

I have been in Vegas a lot since it was turned on, and admit it looks really cool. My son (who is 13) is excited to see it next time he's in Vegas. The U2 concert was also well regarded, with the only criticism being that the sphere's technology could have been utilized even more.

However, looking cool doesn't mean profit.

I swear you are a corporate shill.
First you hate the Culinary Union and its workers.
Next you tell us that everyone loves the sphere.
Locals hate that thing.
It's not only an eye sore but it causes major traffic issues.
I was going to go inside and check it out but after reading honest reviews, the damn thing is a novelty at best.
Vegas will keep it and it will make money from advertising.
Vegas kept the Monorail too.
Doesn't mean that they are good ideas.
It does mean that smart people scammed the taxpayers out of millions of dollars.
Not that the taxpayers can actually do anything about it or make the decisions.

[tableplay]

Unlike the F1 race, which is now universally hated by locals (and some tourists), the sphere is a beloved addition to the city.

I have been in Vegas a lot since it was turned on, and admit it looks really cool. My son (who is 13) is excited to see it next time he's in Vegas. The U2 concert was also well regarded, with the only criticism being that the sphere's technology could have been utilized even more.

However, looking cool doesn't mean profit.

I swear you are a corporate shill.
First you hate the Culinary Union and its workers.
Next you tell us that everyone loves the sphere.
Locals hate that thing.
It's not only an eye sore but it causes major traffic issues.
I was going to go inside and check it out but after reading honest reviews, the damn thing is a novelty at best.
Vegas will keep it and it will make money from advertising.
Vegas kept the Monorail too.
Doesn't mean that they are good ideas.
It does mean that smart people scammed the taxpayers out of millions of dollars.
Not that the taxpayers can actually do anything about it or make the decisions.

Given that he reads everyone's PMs - his shilling doesn't surprise me at all.

[MisterV]

It could generate revenue by allowing customers to post birthday. wedding or anniversary messages with photos.

Or simply photos: pay to post "for all the world to see."

It could work.

It costs something like $450k to buy that place for 24 hours so I don't think birthday messages is at all scalable or even has a place in the lineup.

Whoa...lotta dough.

I was contemplating a very short display on the outer surface, not inside: maybe five or ten seconds: enough for the paying client to capture the display on their phone and post it on social media.

[accountinquestion]

It could generate revenue by allowing customers to post birthday. wedding or anniversary messages with photos.

Or simply photos: pay to post "for all the world to see."

It could work.

It costs something like $450k to buy that place for 24 hours so I don't think birthday messages is at all scalable or even has a place in the lineup.

Whoa...lotta dough.

I was contemplating a very short display on the outer surface, not inside: maybe five or ten seconds: enough for the paying client to capture the display on their phone and post it on social media.

This would likely cheapen the experience in other ways.