{ "schemaVersion": 1, "organisationId": "O-096f8729640e475aabab4e73bc90ce99", "slug": "sphere-entertainment-co", "name": "Sphere Entertainment Co.", "updatedAt": "2026-10-02T16:48:45.637351Z", "sections": [ { "type": "OVERVIEW", "text": "Sphere Entertainment Co. operates in live entertainment, media and immersive technology through two segments: Sphere and MSG Networks. Sphere combines a Las Vegas venue with immersive productions, concerts, sports and branded events; MSG Networks provides regional sports and entertainment programming through its networks and streaming service. The company’s current operating presence centers on Las Vegas and the New York-area regional market, while it is pursuing a broader global network of Sphere venues. [P33504193][P530891][P115401668][P45039537]\n\nFor the six months ended June 30, 2026, Sphere Entertainment reported consolidated revenue of $700.1 million. [T16587687] A third-party company profile lists approximately 3,300 employees as of December 31, 2025. [https://stockanalysis.com/stocks/sphr/employees/]\n[P33504193][P530891][P115401668][P45039537][T16587687][https://stockanalysis.com/stocks/sphr/employees/][https://stockanalysis.com/stocks/sphr/employees/]", "updatedAt": "2026-10-02T16:48:45.637351Z" }, { "type": "PRODUCTS", "text": "Sphere’s flagship product is the Las Vegas Sphere, a venue for immersive productions, concerts and residencies, sports and brand events. Its capabilities include a programmable, nearly 580,000-square-foot Exosphere LED exterior; a 16K × 16K interior display; Sphere Immersive Sound; haptic seating; and 4D environmental effects, with capacity for up to 20,000. Named productions include The Sphere Experience, featuring Postcard From Earth, V-U2 An Immersive Concert Film and The Wizard of Oz at Sphere. In the six months ended June 30, 2026, The Wizard of Oz had 429 performances and generated approximately $647,000 in revenue per show. [P145052722][P145053184]\n\nSphere Studios develops multisensory content for the venue and provides creative and production services. Its Burbank campus includes a 68,000-square-foot development facility and Big Dome, a 28,000-square-foot, 100-foot-high dome with a quarter-scale version of Sphere’s interior display plane, used for screening, production and content development. For Sphere Abu Dhabi, the company’s offerings include a franchise initiation fee, royalties for use of its intellectual property and licensed creative content, and pre-construction and construction-related services; operational services are also expected. [P145052722][P145053248]\n\nThe MSG Networks segment offers MSG Network and MSG Sportsnet, regional sports and entertainment networks, and MSG+, a direct-to-consumer and authenticated streaming service. MSG+ is included in the Gotham Sports streaming product and is anticipated to be available through DAZN during the 2026–27 NBA and NHL seasons. Programming includes exclusive local Knicks, Rangers, Islanders, Devils and Sabres games, along with significant Giants and Bills coverage. [P145052724]\n\nFor the six months ended June 30, 2026, Sphere generated $492.318 million and MSG Networks $207.733 million of the company’s $700.051 million in combined segment revenue—approximately 70.3% and 29.7%, respectively. The filing does not provide a comparable breakdown by individual product. [T16587720][T16587720][T16587720]\n[P145052722][P145053184][P145052722][P145053248][P145052724][T16587720][T16587720][T16587720][https://www.sec.gov/Archives/edgar/data/1795250/000162828026051125/sphr-20260630.htm][https://www.sec.gov/Archives/edgar/data/1795250/000162828026007760/sphr-20251231.htm]", "updatedAt": "2026-10-02T16:48:45.637351Z" }, { "type": "GEOGRAPHY", "text": "Sphere Entertainment’s operations and assets are concentrated in the United States, with a majority located in the New York City metropolitan area and Las Vegas. Its 2025 filing says substantially all reportable-segment revenue and assets are attributable to or located in the U.S.; it does not provide a geographic revenue breakdown or regional percentages. [P81864028] Its Las Vegas venue, Sphere, opened in 2023, and Sphere Studios is located in Burbank, California. [P145052722] The company’s principal executive offices are at Two Penn Plaza in New York City. [T16587681]\n\nMSG Networks’ regional reach includes the New York designated market area and parts of New York, New Jersey, Connecticut and Pennsylvania. [P145052724] As of June 30, 2026, the company’s expansion plans included Sphere Abu Dhabi on Yas Island, with construction funded by Abu Dhabi’s Department of Culture and Tourism, and a proposed Sphere at National Harbor, Maryland, subject to definitive agreements, incentives and approvals. [P145052723][P145053248][P145053249] The company had discontinued pursuit of a London Sphere and sold its Stratford land in 2025. [P145053322]\n[P81864028][P145052722][T16587681][P145052724][P145052723][P145053248][P145053249][P145053322]", "updatedAt": "2026-10-02T16:48:45.637351Z" }, { "type": "SEGMENTS", "text": "Sphere Entertainment Co. reports two segments. **Sphere** focuses on immersive entertainment, including original productions and experiences, concerts and residencies, and sports and brand events; **MSG Networks** comprises regional sports and entertainment networks MSG Network and MSG Sportsnet, along with MSG+ streaming. [P145052722][P145052724]\n\nBy revenue, Sphere contributed approximately **64%** and MSG Networks **36%** in FY2025. In the six months ended June 30, 2026, their shares were approximately **70%** and **30%**, respectively. Sphere reported an operating loss in that 2026 interim period, while MSG Networks reported operating income. [T16587720]\n[P145052722][P145052724][T16587720][T16587720][T16587720][T16587720][https://investor.sphereentertainmentco.com/press-releases/news-details/2026/Sphere-Entertainment-Co--Reports-Fourth-Quarter-and-Full-Year-2025-Results/default.aspx]", "updatedAt": "2026-10-02T16:48:45.637351Z" }, { "type": "HISTORY", "text": "Sphere Entertainment Co.’s corporate lineage traces to The Madison Square Garden Company, which became a public company in 2010 after separating from Cablevision. In 2016, The Madison Square Garden Company and Las Vegas Sands announced plans for a new Las Vegas entertainment venue, later developed as MSG Sphere; construction planning advanced in 2019 when AECOM was selected as general contractor. [https://investor.sphereentertainmentco.com/press-releases/news-details/2010/Madison-Square-Garden-Inc-Becomes-a-Public-Company/default.aspx] [https://investor.sphereentertainmentco.com/press-releases/news-details/2016/The-Madison-Square-Garden-Company-and-Las-Vegas-Sands-to-Bring-Groundbreaking-New-Venue-to-Las-Vegas/default.aspx] [https://investor.sphereentertainmentco.com/press-releases/news-details/2019/The-Madison-Square-Garden-Company-Selects-AECOM-as-General-Contractor-for-MSG-Sphere-at-The-Venetian/default.aspx]\n\nThe company’s direct legal predecessor was incorporated in 2019. In April 2020, Madison Square Garden Entertainment became a separately traded public company following a distribution of shares by Madison Square Garden Sports; in 2021, it acquired MSG Networks through a merger. [P103275191] [https://investor.sphereentertainmentco.com/press-releases/news-details/2020/MSG-Entertainment-Becomes-New-Public-Company/default.aspx] [https://investor.sphereentertainmentco.com/press-releases/news-details/2021/MSG-Entertainment-Completes-Acquisition-of-MSG-Networks/default.aspx]\n\nIn April 2023, the company distributed most of its traditional live-entertainment business to shareholders and changed its name to Sphere Entertainment Co. The Las Vegas Sphere opened to the public on September 29, 2023, with U2’s residency as its first event. [P103275191] [https://investor.sphereentertainmentco.com/press-releases/news-details/2023/Sphere-Entertainment-Co.-Completes-Spin-Off-of-Traditional-Live-Entertainment-Businesses/default.aspx] [P145052722]\n[P103275191][P145052722][https://investor.sphereentertainmentco.com/press-releases/news-details/2010/Madison-Square-Garden-Inc-Becomes-a-Public-Company/default.aspx][https://investor.sphereentertainmentco.com/press-releases/news-details/2016/The-Madison-Square-Garden-Company-and-Las-Vegas-Sands-to-Bring-Groundbreaking-New-Venue-to-Las-Vegas/default.aspx][https://investor.sphereentertainmentco.com/press-releases/news-details/2019/The-Madison-Square-Garden-Company-Selects-AECOM-as-General-Contractor-for-MSG-Sphere-at-The-Venetian/default.aspx][https://investor.sphereentertainmentco.com/press-releases/news-details/2020/MSG-Entertainment-Becomes-New-Public-Company/default.aspx][https://investor.sphereentertainmentco.com/press-releases/news-details/2021/MSG-Entertainment-Completes-Acquisition-of-MSG-Networks/default.aspx][https://investor.sphereentertainmentco.com/press-releases/news-details/2023/Sphere-Entertainment-Co.-Completes-Spin-Off-of-Traditional-Live-Entertainment-Businesses/default.aspx]", 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