LAS VEGAS (CelebrityAccess) — MSG’s Sphere Entertainment reported the financial results for the company’s second quarter with overall revenue up year-over-year, helping to pare operational losses.
Sphere Entertainment reported revenues of $282.7 million, up 3% ($9.3 million) from the same period last year. This revenue growth helped narrow the operating loss to $50.2 million, an improvement of $21.2 million from the prior-year quarter.
Event-related revenue increased by $26.7 million compared to the prior year quarter, driven by a growing number of corporate events and nine additional concert residency shows at Sphere in Las Vegas.
At the same time, revenue for the quarter was hindered by the lack of a marquee sports event at the arena during the reporting period, the company said.
Revenue from the Sphere Experience also fell during Q2, declining by 6.7 million, which the company said was due to lower average per-show revenue, but partially offset by an increase in performances over the same period in 2024.
Revenues from sponsorship, signage, Exosphere advertising and suite license fees also declined slightly during Q2 by $0.5 million when measured against Q2 2024.
“We continue to execute our strategic priorities to drive long-term profitable growth for our Sphere business. At the same time, we have been making progress with our expansion plans and remain confident in the global opportunity ahead,” said MSG CEO and Executive Chair James L. Dolan.
