"And he may have been right, as it's been revealed that it could be a billion-dollar revenue generator for Sphere. Lucas Shaw at Bloomberg reports that with fans paying approximately $200 a ticket, The Wizard of Oz is currently generating sales of approximately $2 million a day, meaning that it could earn more than $1 billion during its run - which could stretch on indefinitely, while also being shown at additional Sphere locations as well."
"This interest in expanding the Sphere movie catalog makes sense, as while Sphere has quickly become a premiere location for concerts, Shaw notes that the company actually makes more money from showing movies than it does from live performances, as the bands keep almost all of the money from ticket sales. While Sphere will earn about $200 million from concerts in 2025, the amount it will earn from movies like The Wizard of Oz as well as Darren Aronofsky's long-running Postcard from Earth is closer to $400 million."
The Sphere's digitally-augmented presentation of The Wizard of Oz exceeded initial budget estimates, approaching the $100 million mark. Ticket prices average about $200, producing roughly $2 million in daily sales and creating the possibility of more than $1 billion in revenue over its run, which could extend indefinitely and expand to other Sphere locations. Sphere's CEO expects the show to run indefinitely and has pursued other franchises such as Harry Potter and Star Wars for similar treatments. Movie programming yields higher revenue for Sphere than concerts, with projected 2025 movie earnings near $400 million versus $200 million from concerts. Sphere will continue hosting concerts, including a Backstreet Boys residency beginning December 2025.
Read at Consequence
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