The Sphere in Las Vegas has discovered a surprise gold mine in a reimagined version of The Wizard of Oz, which draws 4,000 to 5,000 fans two or three times daily. With tickets averaging nearly $200, the film is generating up to $2 million per day in sales, according to Wolfe Research.
Executives estimate the production could gross hundreds of millions of dollars over the next year and potentially surpass \$1 billion before its run ends. The success comes after Sphere Entertainment chairman James Dolan licensed rights from Warner Bros. Discovery and invested nearly \$100 million to adapt the 1939 classic for the venue’s massive LED screen.
Unlike the original film, Dolan’s version runs 70 minutes, trimmed by half an hour, and integrates immersive effects more akin to a theme park ride. Audience members experience wind blasts, surround sound, and cutting-edge visuals, all designed to showcase the Sphere’s high-tech environment.
Since opening in 2023, the $2.3 billion venue has earned global attention for hosting concerts by U2, the Eagles, and the Backstreet Boys. Yet analysts note that films have become its most profitable draw. Movies are projected to generate around $400 million in revenue this year, compared with \$200 million from concerts, with far higher margins since the Sphere keeps most of the film ticket sales.
The venue previously sold more than 4 million tickets to Darren Aronofsky’s Postcard From Earth. The Wizard of Oz now appears to be its strongest attraction, with Dolan planning to replicate the formula in future Spheres worldwide, including a planned site in Abu Dhabi.
Source: Bloomberg