Sphere initiated with Neutral at BofA [Seeking Alpha]
Sphere Entertainment Co. Class A (SPHR)
Company Research
Source: Seeking Alpha
The analysts believe there could be significant upside potential for Sphere, eventually. However, given the uniqueness and novelty of its offering, it is difficult to fully handicap the financial outcome and timing. Disruptive tech threads the fine line of big opportunities and big risks, they added. What gives the analysts pause, however, is MSG Networks, which accounts for 50% of FY'24E revenue. That business is under intense pressure as viewers abandon linear TV, while rights fees are contracted. Due to this, the analysts think Sphere shares accurately reflect the proper balance between risk and reward. Sphere opened in Las Vegas in September 2023, instantly becoming an iconic venue. Helped by social buzz, its unique capabilities for artists and initial financial success, Sphere is already a leader in live entertainment, the analysts added. The analysts estimate Sphere can generate about $500K and around $1.8M (about $150 ticket price) in revenue per show for its originals a
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News
- SPHERE ENTERTAINMENT ACQUIRES HOLOPLOT [Yahoo! Finance]Yahoo! Finance
- SPHERE ENTERTAINMENT ACQUIRES HOLOPLOTPR Newswire
- Sphere Entertainment Co. (NYSE:SPHR) Q3 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- What's next for the Las Vegas Sphere? [Yahoo! Finance]Yahoo! Finance
- The Eagles at the Sphere in Las Vegas? CEO seems to confirm rumors on earnings call [USA TODAY]USA TODAY