Sphere Entertainment revenue reported first quarter revenues of $280.6 million (€249.3m) as CEO James Dolan gave an update on the firm’s global expansion plans.

The financial results for the three-month period ending 31 March 2025 represented a decrease of $40.8m (13%) year-on-year.

In addition, it reported an operating loss of $78.6m (Q1 ’24 losses: $40.4m), while AOI of $36m was down from $61.5m in the same period 12 months ago.

“Our Sphere segment generated positive adjusted operating income in the first quarter as we make progress on our strategic priorities for the business,” said Dolan. “We remain confident in the opportunities ahead for Sphere and our ability to drive growth this calendar year.”

The Sphere segment had revenues of $157.5m (-8% y-o-y), and posted an operating loss of $93.8m compared to $83.5m in Q1 2024.

Speaking to investors, Dolan emphasised the importance of original content – which has brought in over $500m in takings since October ’23 via Darren Aronofsky’s Postcard from Earth – to the Las Vegas venue’s business model, and also referenced upcoming concert runs by Kenny Chesney and the Backstreet Boys.

“We have multiple projects in development, and we remain on track to debut our next Sphere experience this year,” he said. “We’re also making progress in attracting a variety of music genres to the Sphere this year, including our first country and pop residencies.”

“We’re in discussions with multiple artists. We have more demand from artists than we have availability of slots”

Last month, Sphere Entertainment announced a new AI partnership with Google, which will see the companies use generative AI to help bring an immersive version of The Wizard of Oz, originally released in 1939, to the Sphere from 28 August. A new documentary, From the Edge, is also currently in production from Sphere Studios and is set to debut in 2026.

“The Postcard from Earth was our what we call around here our ‘first pancake’,” said Dolan. “We’re expecting the second pancake to be better – maybe we’ll add some blueberries in. But I think both productions take better advantage of the medium, are going to be more experiential, more impactful. And so therefore, a better product. And along with better products comes probably higher ticket prices, etc. We’re expecting great things from both of those products.”

Dolan said that ongoing residencies from Dead & Company and the Eagles are each on pace for more than 40 performances – which he described as “the equivalent of national arena tours” – noting that Sphere is “gaining traction as a platform for brands”.

“We still are in a great position,” he added. “We’re in discussions with multiple artists. We have more demand from artists than we have availability of slots, which is good for us, but we’re trying to accommodate everything. The other thing that’s going on is that the artists who have been here are extending.

“Once they get used to playing the Sphere, for an artist, it’s a pretty good situation. They don’t have to travel. They don’t have all the overhead costs that go along with that. They get similar kind of revenues that they do for when they mount a tour, but without a lot of the expenses and a lot of the headache. And then, of course, probably most important is the experience that they’re providing for their own fans, which is really over the top. So I don’t want to get ahead of ourselves in terms of announcements, but the pipeline is very full.”

“It’s all about growth. It’s all about our ability to take what we see as a great product and then expand it out across the globe”

He continued: “With the Eagles and with Dead, we’re running two original content shows on the same day as the concert, and that makes for a very profitable day. And so when you look at the company and its development, it’s all about growth. It’s all about our ability to take what we see as a great product and then expand it out across the globe.”

On that subject, it was confirmed last autumn that the world’s second Sphere will be built in Abu Dhabi in partnership with the Department of Culture and Tourism – Abu Dhabi, and is expected to be similar in scale to the 20,000-cap Las Vegas original. But during the company’s previous earnings call in March, Dolan teased that future expansion could also involve 5,000-cap mini-Spheres.

Speaking yesterday (8 May), Dolan said: “We’re definitely talking worldwide about Sphere. But we do have another initiative that I think is very important that we’re undertaking this year, and that is we’re right in the middle of designing a smaller Sphere that would be deployable to markets inside and outside the US. The strategy there is to build faster, cheaper, have ROI that not only justifies it, but makes hopefully investors enthusiastic.

“I expect that by the end of the year, we’ll be talking about that new smaller Sphere product as another way of expanding the business, as well as continuing to build Spheres like we are in Abu Dhabi and in other markets.”

Sphere Entertainment’s share price was up 3% to $32.60 at press time, giving the firm a $1.17 billion market cap.

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Beyoncé has removed the Las Vegas Sphere from her Cowboy Carter Tour visuals after being hit with a cease-and-desist letter by the venue’s owner.

Law firm King & Spalding, which represents James Dolan’s Sphere Entertainment Group (SEG), accused the singer’s production company Parkwood Entertainment of prominently featuring and manipulating imagery of the Sphere without permission.

The New York Post reported the visuals for the tour, which kicked off last week in the US at Inglewood’s SoFi Stadium in California, initially included a CGI sequence during an interlude in the show, depicting a giant Beyoncé picking up the Sphere and toying with it while striding through the Vegas skyline.

Alleging “impermissible use and violation” of SEG’s IP rights, the letter to Parkwood from King & Spalding’s Kathleen McCarthy stated: “SEG was never asked and the prominent appearance and manipulation of SEG’s Sphere venue in the video is unauthorised.”

Claiming the imagery “has resulted in significant speculation that Beyoncé will end her tour with a Sphere residency”, the company demanded that Parkwood “cease and desist from using the Sphere venue in the video immediately — in addition to refraining from using this imagery on any merchandise, promotional or marketing materials, or in tour movies”.

The reference to the Sphere has been replaced with Las Vegas’ Allegiant Stadium

The letter adds that the firm “reserves all rights to take further action” if its demand was not complied with by today (5 May). However, the reference to the Sphere was removed for the third show of Beyoncé’s five-night SoFi Stadium run last night and replaced with Las Vegas’ Allegiant Stadium – where the tour is due to wrap up from 25-26 July.

 

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Produced by Parkwood Entertainment and promoted by Live Nation, the Cowboy Carter Tour heads to Europe in June for a record six nights at Tottenham Hotspur Stadium in London, UK and three dates at Paris’ Stade de France, before returning to the US.

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Revenue and losses both increased at Sphere Entertainment in the company’s latest financial report, as boss James Dolan gave an update on ambitions for a “global network of venues”.

It was confirmed last month that the world’s second Sphere will be built in Abu Dhabi under a franchise model.

In partnership with the Department of Culture and Tourism – Abu Dhabi, the next-generation venue is expected to be similar in scale to the 20,000-cap Las Vegas original and will be located in a “prime spot” in the UAE capital. No timescale has been given for the project.

“The vision for Sphere has always included a global network of venues, and our recently announced plans for a second Sphere in Abu Dhabi mark a significant milestone toward that goal,” says Dolan, Sphere Entertainment’s executive chairman and CEO. “We are confident in the opportunities ahead for Sphere and believe we are well-positioned to drive long-term shareholder value.”

While declining to give details on other potential Sphere destinations, Dolan told shareholders during the fiscal Q1 2025 earnings call that the firm was still “pushing the envelope”.

“We’re certainly interested in future Sphere announcements and expanding into other marketplaces,” he added. “We definitely want to build in multiple places. We’ve built an organisation that can handle the construction of multiple Spheres at the same time. And so yes, we’re still moving.”

“We have some great bands that are coming in over the next year and so I think we will continue to capture their concerts”

Sphere Entertainment reported revenues of $227.9 million for the quarter, up $109.9m on the same period 12 months ago. In addition, it posted an operating loss of $117.6m (an increase of $47.8m) and an adjusted operating loss of $10.2m (an improvement of $47.7m), compared to the prior year quarter.

In September, Sphere hosted its first live sports event – UFC 306 – which became the highest single grossing event at the venue so far, with box office takings of $22m.

That same month, it also debuted exclusive “cinematic experience” V-U2 An Immersive Concert Film at Sphere Las Vegas, based around U2’s groundbreaking show at the venue. Dolan suggested the concept could be repeated with other Sphere performers in the future.

“We shot it, we put it together, and yes, I think it’s a viable product,” said Dolan. “It really is an amazing product when you see it. You feel like you’re at the concert.

“We have some great bands that are coming in over the next year and so I think we will continue to capture their concerts. I wish we could go back to 1965 and capture The Beatles. I’m pretty sure you’d all love to see a live Beatles concert like you are really there, so that’s one we probably can’t do. But we do have some and creating a library of these kind of performances, I think is very valuable… You’re not going to be able to see Bono 20 years from now live, except this way.”

“The formula, which is really the basis for how we designed Sphere, was to be busy 365 days a year with multiple shows”

The Las Vegas Sphere has so far hosted residencies by U2, Phish, Dead & Company and the Eagles’ 28-show residency, which has been extended multiple times due to demand, plus the Darren Aronofsky-directed immersive production Postcard from Earth. Anyma is set to become the first electronic act to perform with stints from 27 December to 1 January and 10 & 11 January.

Dolan stated his belief that being able to host multiple event types on the same day would be a significant revenue driver for the venue.

“If it’s an Eagles show that’s on Saturday and starts at 8pm, we have a show in the afternoon: Postcards from Earth or V-U2 or the other properties that we’re developing,” he explained. “That’s a pretty good use of the capital. It’s going to generate a lot of revenue.

“The formula, which is really the basis for how we designed Sphere, was to be busy 365 days a year with multiple shows. What we wanted to do when we started this thing was to change the venue model.

“We don’t have any problem with acts wanting to play the Sphere. It’s just getting them in and then making sure that we can do these side by side. It’s really important to us.”

Stock in Sphere Entertainment was up 3% to $42.25 today (13 November), giving it a market cap of $1.51 billion.

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The world’s second Sphere venue is to be built in Abu Dhabi, it has been revealed.

Sphere Entertainment and the Department of Culture and Tourism – Abu Dhabi confirmed the longstanding rumours today (15 October), announcing they will work together to bring the next-generation project to life in the UAE capital.

Since opening the $2.3 billion Sphere in Las Vegas, US, in September 2023, Sphere Entertainment has pursued plans to develop a global network of Sphere venues, with the expansion expected to provide “significant growth potential and drive new revenue streams”.

“The vision for Sphere has always included a global network of venues, and today’s announcement is a significant milestone toward that goal,” says Sphere Entertainment executive chair and CEO James L. Dolan. “Sphere is redefining live entertainment and extending the reach of its transformative impact. We are proud to collaborate with DCT Abu Dhabi to develop Sphere in their city.”

The partners say the venue will be located in a “prime spot” in Abu Dhabi and echo the scale of the 20,000-cap Las Vegas original, which has so far hosted residencies by U2, Phish, Dead & Company and the Eagles’ ongoing run, as well as the Darren Aronofsky-directed immersive production Postcard from Earth.

“We are excited to bring Sphere to Abu Dhabi in partnership with Sphere Entertainment, providing our residents and visitors with an extraordinary new form of entertainment,” adds H.E. Mohamed Khalifa Al Mubarak, chair of DCT Abu Dhabi. “Sphere Abu Dhabi will seamlessly integrate advanced technology with captivating storytelling, creating unforgettable memories for everyone who visits.

“This partnership aligns with our Tourism Strategy 2030, further establishing Abu Dhabi as a vibrant hub for culture and innovation. By embracing cutting-edge entertainment like Sphere, we’re not only elevating our global profile but also setting new standards in immersive experiences and cultural offerings.”

“By the time we open up another Sphere, we’ll really have got that operation down”

Abu Dhabi is the UAE’s second most populous city after Dubai, and gained the 18,000-cap Etihad Arena in 2021.

Under the terms of the new partnership, DCT Abu Dhabi will pay Sphere Entertainment a franchise initiation fee for the right to build the venue, “utilising Sphere Entertainment’s proprietary designs, technology, and intellectual property”. Construction will be funded by DCT Abu Dhabi, with Sphere Entertainment’s team providing services related to development, construction and pre-opening of the venue. An estimated timescale for the development is yet to be released.

Following its opening, Sphere Entertainment plans to maintain ongoing arrangements with DCT Abu Dhabi, which are expected to include annual fees for creative and artistic content licensed by Sphere Entertainment, operational services related to venue operations and technology, as well as commercial and strategic advisory support.

Dolan discussed the logistics of constructing additional Spheres during the company’s most recent earnings call in August.

“When you take a look at this last year, we’ve really got much better at operating a Sphere. And by the time we open up another Sphere, we’ll really have got that operation down,” he said. “I keep thinking to myself, well, the next guy is going to really benefit from the fact that we learned this and we learned that, and we changed this policy and this procedure, we became efficient at this.”

The US company, which was formerly known as Madison Square Garden (MSG) Entertainment, announced in 2018 that it was planning to build a 21,500-cap Sphere in Stratford, east London. However, the scheme proved controversial and was met with opposition from various parties including local residents, councillors and rival companies.

London mayor Sadiq Khan ultimately rejected the plans in November 2023, ruling it “would result in an unacceptable negative impact on local residents”. MSG officially withdrew its planning application in January this year, saying it could not continue to participate in a process that was “merely a political football between rival parties”.

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Shares in the company behind the Sphere in Las Vegas have jumped almost 10% following publication of the firm’s fiscal 2024 financial results.

Sphere Entertainment posted full-year revenues of $1.03 billion (+$453m on the prior year), with an operating loss of $341.2m (+$68.2m) and adjusted operating income of $80.7m (+$203.3m).

For the fiscal Q4 2024, the firm reported revenues of $273.4m – an increase of $144.3m compared to the prior year quarter – for an operating loss of $71.4m (+$1m). AOI was $25.7m (+$85.5m).

The groundbreaking 20,000-cap Sphere opened in September 2023 and has hosted residencies by U2, Phish and Dead & Company, as well as the ongoing Darren Aronofsky-directed immersive production Postcard from Earth. The Eagles are due to kick off a 20-show run at the $2.3bn venue next month, while Anyma is set to become the first electronic act to perform with a six-night stint from 27 December to 1 January.

“Fiscal 2024 marked the opening of Sphere in Las Vegas and a new chapter for our company,” says executive chair and CEO James Dolan. “Sphere has already welcomed millions of guests, world-renowned artists and numerous global brands. We are confident that we are on the right path to execute on our vision for this next-generation medium.”

Dolan shed further light on the company’s progress and future plans during an earnings call with investors.

“Artists continue to benefit from the drawing power of Sphere”

“Artists continue to benefit from the drawing power of Sphere,” he said. “Dead & Company just completed their 30-show run on Saturday night. The Eagles kick off their residency next month with a 20-show run through January. And we recently announced that Anyma will be our first EDM act with a multi-night run around New Year’s. Both The Eagles and Anyma have been extended multiple times due to demand.

“We are also making progress towards our goal of hosting multiple event types on the same day. The Sphere Experience ran on the same day as select Dead & Co. concerts in July and August, and we believe that this had a positive impact on attendance for Postcard from Earth on those days.”

Dolan noted the Sphere segment of the business generated Q4 revenues of $151m, along with an AOI loss of $5.5m, after welcoming more than 900,000 guests across 230+ events.

“These results were driven by our original content category, The Sphere Experience featuring Postcard from Earth, which generated approximately $74 million in revenue across 208 shows in the fourth quarter,” he said. “They also reflected Phish’s four-night run in April and the start of Dead & Company’s residency in May with 18 performances during the quarter.”

Dolan suggested The Eagles may extend their stay at the venue further still, and hinted at the identity of other potential artist residencies.

“I think The Eagles are not going to be satisfied with the 20-show run and neither will their fans, but we haven’t announced anything yet in terms of that,” he said. “The interesting thing about the Eagles show, though, if you might have noticed, is that they basically play on for two weeks and then they go off for two weeks. So when we get to [’25 it is ] likely that we will fill in the two weeks that they’re not playing, right, with another high-profile premier type act – probably with a woman. And that’s as much as I’m going to say about that.”

He added: “You can expect something in the country category coming in ’25. That will whet people’s appetite.”

“You could go almost anywhere in the world and say ‘Sphere’ and people know what it is, know where it is, and many of them know what it does”

Having revealed during the firm’s previous quarterly report that talks were ongoing with “several” markets about constructing a second Sphere venue, Dolan had no major update to give on the issue.

“Do I anticipate that we’re going to have something to say very soon? Yes, I do,” he said. “I think that’s about all I can say, other than you’re going to know when it happens.”

He continued: “When you take a look at this last year, we’ve really got much better at operating a Sphere. And by the time we open up another Sphere, we’ll really have got that operation down. When I look at everything that’s happened in the last year, I keep thinking to myself, well, the next guy is going to really benefit from the fact that we learned this and we learned that, and we changed this policy and this procedure, we became efficient at this.

“One of the things that we talked about in the script was what we call side-by-side. That’s where we have more than one event in the Sphere on the same day. The next Sphere will automatically know how to do that because of what happened in the Sphere in Las Vegas. A big piece of what the economic formula was for Sphere was to build a building that you could utilise 365 days a year and multiple times a day.”

Dolan added that the venue, which will host its first live sports event, UFC 306, in September, had already built up significant brand awareness in a short space of time.

“You could go almost anywhere in the world and say ‘Sphere’ and people know what it is, know where it is, and many of them know what it does,” he pointed out. “And every time we do something like Dead & Co., it just blossoms out again and a whole new group of people learn all about what the Sphere can do. So are they there for the building? Are they there for the content? I think it’s a combination of both.”

See the August issue of IQ for an in-depth report on how Vegas has become the hottest entertainment market in the world.

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James Dolan has inked a new three-year contract to continue as the CEO and chairman of MSG Entertainment.

He will lead the New York-based live events company until June 2027, the company revealed last week in a regulatory filing.

Dolan, who is also the CEO of both MSG Sports and Sphere Entertainment Co., will be paid a base salary of $1.5 million per year for leading MSG Entertainment and will have an opportunity to make an annual bonus up to 200% of his salary, according to the filing.

He will also participate in the company’s long-term incentive plan, it adds. Beginning with the fiscal year starting July 1, 2024, he is expected to receive one or more incentive awards with a target value of at least $8.6m.

Point72 Asset Management has acquired a 5.5% stake in Sphere Entertainment Co

In the fiscal year ended 30 June 2023, Dolan earned a total compensation of $9.3m from MSG Entertainment. His compensation from Sphere Entertainment, which spun off from MSG Entertainment in 2023 ahead of the launch of the Sphere venue in Las Vegas in September, amounted to $16.3m. In addition, Dolan earned a total of $11m from MSG Sports.

In other news, billionaire hedge fund titan and owner of the New York Mets Steve Cohen’s Point72 Asset Management has acquired a 5.5% stake in Sphere Entertainment Co, which owns the state-of-the-art Las Vegas Sphere venue.

Point72 disclosed in a regulatory filing on Monday (24 June) that it acquired 1.56 million shares of Sphere Entertainment Co in the second quarter, including 582,400 Class A Common Stock shares, which are issuable upon exercise of options.

This is the second time Point72 has acquired a chunk of Sphere stock, having previously owned 262,102 shares at the end of 2023, which it sold in the first quarter, the New York Post reported.

In the wake of the news, Sphere stock jumped 7.2% to $34.84 on Tuesday.

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Sphere Entertainment boss Jim Dolan has revealed talks are ongoing with “several” markets about constructing a second Sphere venue.

The futuristic $2.3 billion development launched in Las Vegas in September 2023 with the 40-night U2:UV Achtung Baby Live At Sphere residency, and while a proposed London replica was aborted in acrimonious circumstances, other territories such as the UAE have remained in the frame.

Speaking during the Madison Square Garden spin-off’s fiscal Q3 2024 earnings call, Dolan denied there had been any “hold-up” with the plans, but advised that building another Sphere was no simple feat.

“It’s not like building a McDonald’s; it’s complicated,” said the executive chair and CEO. “It’s a very expensive project. This will only be the second one… in the world that has been built. And so working out all the details and the construction cost and the relationships that are in there does take time.

“There has been plenty of interest over the year, but [it wasn’t] until we launched the product in late September that people really got to see what it was and began to see how it can perform.

“With all that, though, we are in discussions with several markets. We think we’re going to conclude at least one of those markets soon. How soon? I’m not going to predict, but soon. And we continue to hear from new markets too. As the Sphere becomes better known and people begin to understand the economics behind it and what it can do for our marketplace, the interest remains strong.”

“We will never have an act play the Sphere that doesn’t have something compelling up on the screen”

Dolan also appeared to confirm longstanding rumours that the Eagles would be next in line for a Sphere residency after U2, Phish and Dead & Company.

“We’re looking for the acts that are the biggest draws, and we are in discussions with a whole bunch of those,” he said. “Remember, every time an act books the Sphere, they have to create content around it. We will never have an act play the Sphere that doesn’t have something compelling up on the screen. It takes a while to do that, so we’re being too judicious about it. But the more an act plays the Sphere, like U2, the more they can monetise the content across multiple shows and therefore invest more on the content and create an even better show. That’s what we’re seeing now.

“[Dead & Company] premieres on Thursday [16 May]. And I think you’re going to find that — even if you’re not a Deadhead – you’re going to love that show. And I think the same will be true for the Eagles and for the next acts that we bring on.”

For the fiscal 2024 third quarter, the Sphere segment posted revenues of $170.4m – an increase of $169.7m year-on-year. Its operating loss of $83.5m was an improvement of $28.9 million on the prior year quarter, Event-related revenues were $34.3m, while revenues from sponsorship, signage, Exosphere advertising and suite licence fees were $32.9m. Adjusted operating income was $12.9m.

“Our early results continue to demonstrate Sphere’s potential to disrupt the traditional venue model”

“Since its October debut, the signature content category has already generated over $200 million in revenue,” noted Dolan. “That includes more than $1 million in average daily ticket sales in both the second and third quarters. These results reinforce our belief in the value of original content. And we are now developing new cinematic offerings to strengthen this core category.

“On the concert front, headline acts are seeing the advantages of performing at Sphere. U2’s 40 show run grew an audience on par with a national arena tour. Phish sold out its four nights in less than one hour. And Dead & Co. has already extended their upcoming residency.”

Sphere Entertainment reported an operating loss of $40.4m – an improvement of $61.5m compared to the prior year quarter – on revenues of $321.3m (up from $159.3m y-o-y). AOI was $61.5m, as compared to an adjusted operating loss of $18.7m 12 months previously.

“With the second consecutive quarter of robust revenues and positive adjusted operating income at the Sphere segment, our early results continue to demonstrate Sphere’s potential to disrupt the traditional venue model,” concluded Dolan. “We are encouraged by the demand for this new medium and remain confident in our future growth opportunities.”

Today (13 May), Sphere Entertainment announced it has acquired all of the remaining shares it did not previously own of 3D audio technology firm HOLOPLOT, having made its first investment into the leading global company in 2018 when the two companies partnered to develop Sphere Immersive Sound.

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The Sphere in Las Vegas has posted losses of US$193.9 million (€179.4m) for fiscal 2024 Q2 – its first full quarter of operation – on revenue of $167.8m.

The next-generation 17,500-seat/20,000-cap Sphere opened in Vegas in September 2023 with U2’s residency, U2:UV Achtung Baby Live At The Sphere. Every show of the U2 run, which wraps up next month after 40 shows and multiple extensions, has sold out so far, with upcoming stints by Phish and Dead & Company set to follow.

According to the company’s latest financial results, which cover the three-month period ending 31 December 2023, the majority of the Sphere’s losses resulted from a non-cash impairment charge of $116.5m in the current year quarter related to the company’s decision to no longer pursue the development of a London replica.

Madison Square Garden (MSG) Entertainment officially withdrew its planning application for the London Sphere project last month – more than five years after the scheme was first announced.

Sphere Entertainment reported event-related revenues of $55.2m, almost entirely from concerts, apart from one marquee sporting event held at the venue during the quarter.

“Sphere is a next-generation medium intended to disrupt the traditional venue model”

The Sphere Experience featuring Postcard from Earth also generated $92.9m across 191 performances after debuting on 6 October, grossing more than £1m in average daily ticket sales.  In addition, sponsorship, signage, Exosphere advertising and suite licence fees brought in $17.5m.

“Sphere is a next-generation medium intended to disrupt the traditional venue model,” says Sphere Entertainment executive chair and CEO James Dolan. “With positive adjusted operating income at the Sphere segment in our first full quarter of operations in Las Vegas, our early results are beginning to prove that thesis, and we remain confident in the global opportunities ahead.”

In December last year, Dolan was reported to be in “serious talks” to build a second Sphere venue – this time in the UAE – which would become MSG’s first property outside of the US.

MSG spin-off Sphere Entertainment encompasses the first Sphere venue as well as MSG Networks and Tao Group Hospitality businesses. The company reported revenues of $314.2m, an increase of $154.6m on the prior year quarter, and an operating loss of $159.7m, (up from the prior year’s quarter $109.9m). Adjusted operating income was $51.4m, compared to $13.2m in the same quarter last year.

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Madison Square Garden (MSG) boss James Dolan is reported to be in “serious talks” to build a second Sphere venue – this time in the United Arab Emirates.

According to the New York Post, Dolan is in discussions with Abu Dhabi investors about building a replica of the $2.3 billion, 20,000-cap Las Vegas Sphere, which would become MSG’s first property outside of the US.

“These are serious talks with Abu Dhabi. They keep going back and forth,” a source told The Post.

A Sphere spokesperson declined to comment on the report, which noted that the UAE capital has emerged as a frontrunner after negotiations apparently stalled with Saudi Arabia and South Korea.

The UAE’s second most populous city after Dubai, Abu Dhabi gained the 18,000-cap Etihad Arena in 2021, which has upcoming shows with the likes of Andre Rieu and Scorpions.

Wireless Festival, meanwhile, attracted 25,000 fans to Etihad Park on Yas Island for its Abu Dhabi debut in March, while November’s Abu Dhabi Grand Prix’s Yasalam After-Race Concerts starred Foo Fighters, Shania Twain, Tiësto, Chris Brown and Ava Max.

The brainchild of Dolan, the futuristic Sphere features a 160,000 sq. foot LED display inside the main venue, which wraps up, over and around the audience for a fully immersive experience in cutting-edge 16K x 16K resolution. The concept launched in Las Vegas at the end of September with the 40-night U2:UV Achtung Baby Live At Sphere residency, which runs until March 2024.

American rock band Phish are the next major act to be confirmed and will deliver a four-show run from 18-21 April, while the Post reported last month that Beyoncé was in talks over a potential residency, with Bon Jovi, Paul McCartney and Lady Gaga also rumoured to be in consideration.

Sphere Entertainment said it was focusing on the “many forward-thinking cities that are eager to bring this technology to their communities”

Speaking to Variety earlier this year, MSG executive chair and CEO Dolan said it was “definitely a big part of the business plan, to build more Spheres all over the world”. “And by the way, different-size ones too – probably not much bigger than the one in Vegas, but we’ve actually gone through already architectural drawings and designs for smaller Spheres for smaller markets,” he added.

However, Sphere Entertainment said last month that it was focusing on the “many forward-thinking cities… eager to bring this technology to their communities” after its long-held plans for a 21,500-cap London spin-off were refused.

London Mayor Sadiq Khan rejected the proposals on the basis they “would result in an unacceptable negative impact on local residents”, but levelling-up secretary Michael Gove has since ordered a six-week pause as he considers whether to call in the application for the development.

In a broadside at Khan, a Sphere spokesperson alleged “the entire five-year planning process was hijacked by the Mayor and his bogus last-minute report”.

“Londoners should be dismayed that they are not going to benefit from this groundbreaking project, and others looking to invest in London should certainly be wary,” continued the statement. “Moreso, everyone should be alarmed by how easily the government’s established process was tossed aside by one politically motivated official.

“Mr Gove’s action, although commendable, still appears to us to be more of the same, and we cannot continue to participate in a process that can be so easily undermined by political winds. As we said previously, we will focus on the many forward-thinking cities.”

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Madison Square Garden (MSG) Entertainment boss James Dolan says the company’s controversial MSG London Sphere scheme is “moving forward”.

MSG’s futuristic $2.3 billion Sphere at The Venetian in Las Vegas, US, launched to rave reviews last Friday with U2’s U2:UV Achtung Baby Live At Sphere residency, but progress on a proposed London replica has been slow.

But speaking to Variety, MSG executive chair and CEO Dolan insists the development – along with other potential spinoffs outside North America – is “still very much moving forward”.

“That is definitely a big part of the business plan, to build more Spheres all over the world,” he adds. “And by the way, different-size ones too – probably not much bigger than the one in Vegas, but we’ve actually gone through already architectural drawings and designs for smaller Spheres for smaller markets.”

Plans for the 21,500-cap UK venue, which would become MSG’s first property outside of the US, were first announced more than five years ago and were approved in principal by the London Legacy Development Corporation (LLDC) in March last year, despite objections from various parties.

However, AEG called on levelling up secretary Michael Gove to block the proposal earlier this year. Gove issued a holding direction to the LLDC, meaning the organisation and London mayor Sadiq Khan are prevented from signing off the plans before Gove rules on whether they need to be “called in” for further scrutiny.

If given final approval, the Sphere will be located in Stratford, east London, four miles from AEG’s The O2 (20,000-cap) in North Greenwich. AEG is a longtime critic of the scheme, having voiced concerns over its proximity to The O2 and – according to a 2019 investigation by The Times – creating a residents’ group in opposition.

“Since we have the experience of building the first one, it won’t be as expensive as the first one”

MSG has suggested that London has an “undersupply” of dedicated large entertainment venues compared with cities such as Berlin, Paris, Madrid and New York. The capital’s next biggest indoor spaces are the 12,500-cap OVO Arena Wembley and the 10,400-cap Alexandra Palace.

The construction costs of the “next generation” Vegas project escalated to $2.3 billion (€2.1bn) – leading some observers to query whether subsequent venues would be too expensive to build (the estimate for the London development was widely reported as £800m, pre-pandemic).

“We have a fully developed construction design and construction company that has a lot of experience building all over the world,” he says. “And since we have the experience of building the first one, it won’t be as expensive as the first one.”

Dolan expects the Vegas Sphere to be profitable despite costs running almost double its original $1.2bn budget.

“Yes, I absolutely expect it to be profitable,” he says. “Will it generate enough profits to justify the capital that was put into it? I think so, but it remains to be seen. I mean, so far, the biggest hurdles in that is making sure that you have a product that the consumer is going to want. And what I’ve seen of our product, I think we have that.

“And then it comes down to marketing and selling tickets and generating revenue and sponsorships, and that all looks like it’s on a very good trajectory. We’re already seeing worldwide interest from other countries that are talking to us about building [Spheres] for them.”

The London project was back in the headlines this week, with the Evening Standard reporting that developers had offered locals blackout blinds to make up for the glowing images they would be broadcasting via the structure’s external LED panels. Officials gave the green light to its digital advertising display plans in January 2023.

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