PunkTheFunk 125,733 Posted November 9, 2023 Share Posted November 9, 2023 Gaga's curse strikes again! The Sphere has instantly become a recognizable part of Las Vegas' skyline, for better or worse, since it made its debut earlier this year. And while the massive technological and architectural undertaking is an impressive sight to behold, there's much more than meets the eye when it comes to keeping the Sphere running. On Nov. 8, the Sphere reported an operating loss of $98.4 million in the fiscal quarter ending Sept. 30, right after U2 officially opened the venue with the first show of their residency. According to an SEC filing, the venue also lost its chief financial officer Gautam Ranji, though his departure was "not a result of any disagreement with the company’s independent auditors or any member of management on any matter of accounting principles or practices, financial statement disclosure, or internal controls." The New York Post, however, reported that Ranji suddenly quit after a screaming match with CEO James Dolan. The Sphere cost a whopping $2.3 billion to build, while it brought in a fraction of that amount—approximately $6.7 million—from its opening through event revenue and sponsorship and advertising. Still, that wasn't enough to break even, as operating costs totaled about $7.8 million. https://www.mensjournal.com/news/las-vegas-sphere-already-losing-boatloads-money Link to post Share on other sites More sharing options...
River 128,595 Posted November 9, 2023 Share Posted November 9, 2023 I mean, they projected a f-cking eye for days, how tf do they want to earn money So sploosh your juice all over me you Riverboy Link to post Share on other sites More sharing options...
garbage day 11,851 Posted November 9, 2023 Share Posted November 9, 2023 How many events have happened there? I feel like it's still too new to expect any kind of profit because most people are still like wtf is this thing Link to post Share on other sites More sharing options...
Purrrrrr 18,404 Posted November 9, 2023 Share Posted November 9, 2023 2 minutes ago, hieronymus said: How many events have happened there? I feel like it's still too new to expect any kind of profit because most people are still like wtf is this thing mte, they surely wouldn't expect to be gaining atm, it's barely opened Link to post Share on other sites More sharing options...
ALGAYDO 35,379 Posted November 10, 2023 Share Posted November 10, 2023 The decay of the blonde supersphere Link to post Share on other sites More sharing options...
Gaga2645 2,301 Posted November 10, 2023 Share Posted November 10, 2023 And when she announces a mini residency there and helps those girls break even then wot Link to post Share on other sites More sharing options...
Noah X 5,250 Posted November 10, 2023 Share Posted November 10, 2023 Invite. Taylor. Link to post Share on other sites More sharing options...
Popo 3,781 Posted November 10, 2023 Share Posted November 10, 2023 They had their first show on 29th September Link to post Share on other sites More sharing options...
gumzy3000 7,953 Posted November 10, 2023 Share Posted November 10, 2023 I literally just came back to Toronto from Las Vegas last night and the Sphere was something I checked out. It was $90 a ticket but 100% worth experiencing at least once in your life. The sound and the clarity of the visuals was something I have never seen before. Even from the outside, it looks so cool. It has a lot of potential to grow as there is limited selection on what shows it offers but I am sure it will break even soon enough. trolly troll troll Link to post Share on other sites More sharing options...
gabeoz 7,915 Posted November 10, 2023 Share Posted November 10, 2023 It’s not surprising. It literally opened towards the end of the quarter. Link to post Share on other sites More sharing options...
Economy 53,076 Posted November 10, 2023 Share Posted November 10, 2023 Theres always high expenses to revenue when something is new and losses are common... They may word it as operating costs but im willing to bet theres front loaded costs mixed in those numbers as well that wont be as high later on I think next year will give a better idea on its sustainability and whether or not it can make momeh Link to post Share on other sites More sharing options...
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