Sphere Entertainment, a Publicly Owned company based in the US, operates as a live entertainment and media provider with approximately 480 employees. The company functions through two main business segments: the Sphere and MSG Networks. The Sphere is an entertainment venue, with its initial location opening in Las Vegas in 2023, designed to host immersive experiences including concerts, original film productions, and major sporting and corporate events, supported by Sphere Studios, its in-house content creation division. The MSG Networks segment operates two regional sports and entertainment networks, MSG Network and MSG Sportsnet, which broadcast a variety of live sports content and programming primarily serving the New York metropolitan area.
Sphere Entertainment announced on June 25 that it is producing "The Rocky Horror Picture Show at Sphere," an immersive experience expected to open in 2027. This production will use advanced immersive technologies to enhance the 1975 film for projection on Sphere's 160,000-square-foot wraparound LED screen, complete with immersive visuals and spatial audio, a strategy similar to its approach with "The Wizard of Oz." The show strengthens Sphere’s library of original immersive content, which also includes "Postcard from Earth" and "The Wizard of Oz at Sphere." Previously, on June 18, Benchmark analyst Mike Hickey raised the price target on Sphere Entertainment shares to $175 from $155, maintaining a Buy rating. This followed the company's announcement on June 16 that "The Rocky Horror Picture Show" would be its next cinematic experience, also for a 2027 debut. Concurrently on June 16, Sphere Entertainment reported that "The Wizard of Oz at Sphere," which opened in Las Vegas on August 28, 2025, generated over $400 million in ticket sales and sold more than 3 million tickets.
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