The Sphere in Las Vegas reported an operating loss of $98.4 million for the fiscal quarter ending Sept. 30, Sphere Entertainment Co. said this morning on an earnings call.
Additionally, the company lost its chief financial officer, as Gautam Ranji has resigned, according to a Securities and Exchange Commission filing.
I reckon all songs are folk songs. I ain't never heard no horses singing any.
The Sphere in Las Vegas reported an operating loss of $98.4 million for the fiscal quarter ending Sept. 30, Sphere Entertainment Co. said this morning on an earnings call.
Additionally, the company lost its chief financial officer, as Gautam Ranji has resigned, according to a Securities and Exchange Commission filing.
The whole thing is pointless.
HeavyMetalZombie666 wrote:Learn the concept of keep your mouth shut or you will remained foed.
The Sphere in Las Vegas reported an operating loss of $98.4 million for the fiscal quarter ending Sept. 30, Sphere Entertainment Co. said this morning on an earnings call.
Additionally, the company lost its chief financial officer, as Gautam Ranji has resigned, according to a Securities and Exchange Commission filing.
I admit I don't know about business and especially the Sphere's accounting but if the place opened on Sep 29 how were they supposed to turn a profit by Sep 30?
"I went and saw Chickenfoot twice. I've suffered for being Sammy's friend" - Bob Forrest
ijwthstd wrote: ↑Fri Nov 10, 2023 2:15 pm
I admit I don't know about business and especially the Sphere's accounting but if the place opened on Sep 29 how were they supposed to turn a profit by Sep 30?
Exactly. I have to imagine these early losses were expected.
In the past week, they had ads for the latest Marvel movie and a new Coke campaign on the exterior.
They will also do stuff with trade shows, including CES.
As for concerts, Phish is coming in April.
There are ways to make money off this thing. The debt is budgeted in their long-term plans.
skunklovestiger wrote:
A comment like this needs a really useless piece of shit. Well maybe you are used to get fucked by your mother in the basement. It would be better if somebody just kills you useless asshole. Just killl yourself shithead.
ijwthstd wrote: ↑Fri Nov 10, 2023 2:15 pm
I admit I don't know about business and especially the Sphere's accounting but if the place opened on Sep 29 how were they supposed to turn a profit by Sep 30?
This.
The impact the Sphere has on Vegas is worth more. Aside from revenue from events and venues, the advertising potential is huge. The cost to advertise on the Sphere is $450K PER DAY. It's an estimated 4.7 million daily impressions (300K in person and 4.4 million on social media). Nobody expected to turn a profit right away.
The Sphere will be fine. The cost was higher due to the pandemic and cost of building materials. The CFO quit because nobody likes James Dolan. U2 extended their residency through early 2024, and they're working on following acts as well. Dolan plans to build more "spheres" as well in other cities, which isn't the plan if it's not going to make money.
