I love Sphere in Las Vegas. I’ve been to seven Phish shows there over the last couple of years, and it really is a concert experience that is impossible to compare to anything else. I’ve yet to catch a movie there, but I am prioritizing my personal 2026 movie schedule to include a trip to Sin City to see The Wizard of Oz later this summer. After reading an interview with the head of Sphere Studios, I’m doubling down on my thought that maybe concerts are going to be the primary income producer for the unique venue. Here’s why.
Movie Studios Love Premium Viewing Options
In the age of streaming and post-Covid, it’s no secret that movie theaters have struggled more than ever. While things have rebounded somewhat in the last few years, fewer people are going to theaters for movies than they were a decade ago. A big revenue driver for theaters and studios has been premium formats like IMAX and 4DX theaters. I see a lot of movies in theaters, and IMAX is definitely my preferred viewing experience, for example. Sphere is the logical (though expensive) extension of that kind of experience, but on steroids.
So far, the multi-billion-dollar venue has created two film-going experiences. The first, Postcard from Earth, from director Darren Aronofsky, is basically a nature documentary at its heart, but way more than that, given the scale of the screen. The second is the wildly successful The Wizard of Oz, which has been raking in big bucks for the venue. A third film, an extreme sports doc called Over The Edge, from Free Solo directors Chai Vasarhelyi and Jimmy Chin, is next on the docket for Sphere.
According to a report from the company (via Deadline), Sphere has sold 2.2 million tickets to the slightly revamped 1939 classic and brought in $290 million. Sphere, like IMAX and 4DX, offers something that regular theaters simply can’t. It’s an immersive experience. It’s not just the giant screen; it’s the incredible sound (something I really took note of in my concert experiences there), the heptic seats, and technology that allows for huge props and fun moments to be incorporated into the viewing experience. During the tornado in The Wizard of Oz, for example, the venue can produce wind and drop leaves from the ceiling, bringing viewers into the film.
Movies Seem To Offer A Better ROI
The biggest reason I think movies, not concerts, are the future of the venue is that it’s incredibly expensive for artists to create shows at the venue. Finding hard numbers is difficult, but it’s easy to see that the graphics are not cheap. What makes it complicated for artists is that the show can’t be replicated anywhere else. Sphere is one-of-a-kind (at least for now), and it’s not like you can load the graphics on a hard drive and do the same show in 30 arenas across the country.
It’s probably not cheap to make movies for the venue, either, but once the upfront costs are sunk, Sphere can play the movie over and over, multiple times a day, 365 days a year. Obviously, that’s impossible for The Eagles to do. By the end of 2026, the legendary rock band will have played 64 shows over two years at Sphere. By contrast, The Wizard of Oz can be shown the same number of times in just two or three weeks. Sure, tickets are more expensive for The Eagles, but that difference is easily made up and exceeded by the sheer number of screenings for a movie.
The high cost of production also means the number of artists who can even afford to play the Sphere is limited. As we’ve seen, all the artists who’ve played the venue are legacy artists like U2 (who always try to do cool things, visually), Dead & Company, and Metallica, who are slated to start a new residency this fall. They all have followings big enough to fill the 18,000 seats over multiple shows, at a premium price. As I said, it’s not cheap to produce these shows, so long residencies are critical. There aren’t an endless number of artists who can do this.
Lastly, Sphere is planning more venues across the world, allowing movies to be shown multiple times a day in multiple places all year round. That’s something else that no artist can do.
Sphere Seems To Be Leaning This Way
While Sphere was built as a concert venue, and I truly hope that aspect never goes away because it’s simply incredible to see a show there, it seems like the company is leaning more into movies as it matures, especially given what the venue's technology is capable of. Sphere’s studio head, Carolyn Blackwood, recently told Deadline in that article:
Our goal and purpose is creating these unforgettable experiences. They’re intended to be their own thing.
The company’s COO, Jennifer Koester, echoed that:
[We have] only really scratched the surface in terms of how we can transport audiences and remove the traditional barriers that exist between content and audience.
They’ve even developed their own camera (with the help of Aronofsky) to shoot for the giant screen. Not only have they shown that they can create unique bespoke content like Postcards from Earth, but they can also reconfigure classics for the venue. To me, this seems like a win-win for Sphere and for movie studios and filmmakers looking for the next big thing.
While so far, The Wizard of Oz is the only known property that has been converted for the 16K screen at Sphere, I think there will be more on the way. Koester says the company is in talks with rights-holders and studios for future movies. It could be Golden Age classics like Lawrence of Arabia (imagine seeing the desert on that screen!), or more recent hits like Avengers: Endgame. We’ll have to wait and see which movies get adapted for Sphere.
Please don’t stop booking bands, though. It really is the coolest concert experience in the world right now.
