Revenue Performance - For the three months ended December 31, 2024, Sphere Entertainment reported revenues of $308.3 million, a decrease of $5.9 million or 2% compared to the prior year quarter[1]. - For the six months ended December 31, 2024, total revenues increased by $104.0 million or 24% to $536.2 million compared to the prior year period[2]. - The Sphere segment reported revenues of $169.0 million for the three months ended December 31, 2024, an increase of $1.2 million or 1% compared to the prior year quarter[4]. - MSG Networks segment reported total revenues of $139.3 million for the three months ended December 31, 2024, a decrease of $7.1 million or 5% compared to the prior year quarter[12]. - Revenues for the three months ended December 31, 2024, were $308,290, a decrease of 1.4% compared to $314,157 for the same period in 2023[26]. - Total revenues for the six months ended December 31, 2024, were $536,203,000, a 24% increase from $432,164,000 in the same period of 2023[36]. Operating Income and Loss - Adjusted operating income for the three months ended December 31, 2024, decreased by $18.6 million or 36% to $32.9 million compared to the prior year quarter[2]. - Adjusted operating income for the three months ended December 31, 2024, was $32,856, compared to $51,434 for the same period in 2023, reflecting a decline of 36.1%[30]. - Operating loss for the three months ended December 31, 2024, was $142,941, an improvement from the operating loss of $159,682 for the same period in 2023[30]. - Operating loss for the six months ended December 31, 2024, was $(260,560,000), compared to an operating loss of $(229,471,000) in the same period of 2023[36]. Expenses - Direct operating expenses for the Sphere segment increased by $5.3 million or 8% to $72.7 million for the three months ended December 31, 2024[9]. - Selling, general and administrative expenses increased by $21.2 million or 22% to $119.0 million for the three months ended December 31, 2024, primarily due to higher employee compensation and executive management transition costs[10]. - Direct operating expenses for the three months ended December 31, 2024, were $167,175, up from $159,766 in the same period of 2023, representing an increase of 4.3%[27]. - Interest expense for the three months ended December 31, 2024, was $30,414, compared to $25,828 for the same period in 2023, reflecting an increase of 17.5%[27]. - The company reported share-based compensation of $17,827 for the three months ended December 31, 2024, compared to $11,916 for the same period in 2023, an increase of 49.5%[30]. - The company incurred restructuring charges of $4,251 for the three months ended December 31, 2024, compared to $1,287 for the same period in 2023, indicating increased restructuring efforts[30]. Net Loss and Earnings Per Share - The net loss for the six months ended December 31, 2024, was $231,233, compared to a net loss of $106,823 for the same period in 2023, indicating a significant increase in losses[27]. - Basic loss per common share for continuing operations was $(3.49) for the three months ended December 31, 2024, compared to $(4.91) for the same period in 2023, showing an improvement[27]. Cash Flow and Assets - Cash, cash equivalents, and restricted cash decreased to $515,633,000 as of December 31, 2024, down from $573,233,000 at the end of June 2024[38]. - Net cash provided by operating activities was $40,827,000 for the six months ended December 31, 2024, compared to a net cash used of $(48,238,000) in the same period of 2023[41]. - Total assets decreased to $4,515,300,000 as of December 31, 2024, from $4,787,892,000 as of June 30, 2024[38]. - Total current liabilities were $1,371,667,000 as of December 31, 2024, slightly down from $1,373,676,000 at the end of June 2024[38]. - Total stockholders' equity decreased to $2,201,419,000 as of December 31, 2024, from $2,415,552,000 as of June 30, 2024[38]. Impairment and Other Losses - The total impairment and other losses for the three months ended December 31, 2024, were $61,200, a decrease from $117,235 in the same period of 2023[30]. - The company reported impairment and other losses of $(65,233,000) for the six months ended December 31, 2024, compared to $(115,738,000) in the same period of 2023[36]. Future Plans - The Sphere Experience featuring Postcard from Earth surpassed 1,000 showings in early January 2025, indicating strong audience engagement[3]. - Sphere plans to expand with the introduction of the world's second Sphere venue in Abu Dhabi, United Arab Emirates[8].

Core Insights - Sphere Entertainment Co. reported a revenue of $308.3 million for the three months ended December 31, 2024, a decrease of $5.9 million or 2% compared to the prior year quarter, while for the six months, revenues increased by $104.0 million or 24% to $536.2 million [1][2][30] - The company experienced an operating loss of $142.9 million for the three months, an improvement of $16.7 million or 10% from the previous year, but a larger operating loss of $260.6 million for the six months, an increase of $31.1 million or 14% [1][2][12] - Adjusted operating income for the three months was $32.9 million, down $18.6 million or 36% year-over-year, while for the six months, it increased by $29.1 million to $22.7 million [1][2][28] Segment Performance - The Sphere segment generated revenues of $169.0 million for the three months, up $1.2 million or 1% year-over-year, and $296.1 million for the six months, an increase of $120.5 million or 69% [2][4][33] - MSG Networks reported revenues of $139.3 million for the three months, a decrease of $7.1 million or 5%, and $240.1 million for the six months, down $16.5 million or 6% [2][13][33] Revenue Breakdown - Revenues from The Sphere Experience were $86.5 million, a decrease of $6.4 million due to lower average per-show revenues across performances [5] - Event-related revenues were $54.4 million, down $0.8 million, reflecting fewer concerts held [6] - Sponsorship and advertising revenues increased by $2.7 million to $20.3 million, driven by higher sponsorship revenues and advertising campaigns [7] - Other revenues rose by $5.6 million to $7.8 million, influenced by the acquisition of Holoplot and plans for a new Sphere venue in Abu Dhabi [8] Expense Analysis - Direct operating expenses for the Sphere segment increased by $5.3 million or 8% to $72.7 million, primarily due to higher average per-show expenses [10] - Selling, general and administrative expenses rose by $21.2 million or 22% to $119.0 million, largely due to increased employee compensation and professional fees [11] - The MSG Networks segment saw direct operating expenses increase by $2.1 million or 2% to $94.5 million [15] Impairment and Losses - The company recorded a non-cash goodwill impairment charge of $61.2 million for the three months ended December 31, 2024, compared to no impairment in the prior year [17] - Total operating loss for MSG Networks was $35.0 million, a decrease of $69.3 million due to the impact of impairment and other losses [18] Financial Position - As of December 31, 2024, the company had total assets of $4.515 billion and total liabilities of $2.314 billion, resulting in stockholders' equity of $2.201 billion [36] - The company reported a net cash decrease of $57.6 million for the six months ended December 31, 2024, with cash and cash equivalents at $515.6 million [38]

NEW YORK, Feb. 27, 2025 /PRNewswire/ -- Sphere Entertainment Co. (NYSE: SPHR) has updated the date of its conference call to discuss results for the three months ended December 31, 2024 due to an unforeseen scheduling conflict related to a personal matter. The call will now take place Monday, March 3, 2025 at 10:00 a.m. Eastern Time instead of the previously announced date of Friday, February 28, 2025. The Company will issue a press release reporting its results prior to the market opening.To participate vi ...

Core Insights - Sphere Entertainment Co. has launched a new e-commerce website featuring original merchandise, including the "Orbi Collection," coinciding with the introduction of its iconic emoji character, Orbi [1][2] - Orbi has become a cultural phenomenon, engaging audiences through various expressions and appearances on the Exosphere, the world's largest LED screen [2] - The e-commerce site aims to enhance brand visibility and connect fans with Sphere through official merchandise [2] Merchandise Offerings - The e-commerce shop includes a variety of apparel for adults and children, such as hoodies, graphic tees, and infant onesies, as well as collectible accessories like tote bags and hats [3] - Commemorative souvenirs available include postcards, keychains, magnets, and tumblers [3] Marketing and Engagement - To celebrate the e-commerce launch, Orbi will take over Sphere's Instagram handle for a day, engaging fans through original content and a Q&A session [4] - The merchandise is available online at shop.thesphere.com and at the Sphere venue [4] Company Overview - Sphere is redefining live entertainment with a venue that hosts original experiences from leading creators and artists, utilizing cutting-edge technologies [5] - The first Sphere venue opened in Las Vegas in September 2023, establishing itself as a new landmark in the city [5]

Group 1 - MSG Networks and Optimum have reached an agreement for the relaunch of MSG Networks on Optimum video lineups, thanking fans and subscribers for their patience during the negotiation process [1] - MSG Networks operates two regional sports and entertainment networks, MSG and MSG Sportsnet, along with MSG+, a direct-to-consumer streaming service, serving the New York DMA and surrounding areas [2] - MSG Networks features exclusive live local games and programming for teams such as the New York Knicks, New York Rangers, and New Jersey Devils, establishing itself as a leader in regional sports media [2] Group 2 - Optimum, a brand of Altice USA, provides broadband, video, and mobile services to approximately 4.6 million customers across 21 states, making it one of the largest providers in the U.S. [3] - The company also operates Optimum Media, which offers audience-based advertising solutions to various businesses, enhancing its service offerings [3]

Core Points - Sphere Entertainment Co. will host a conference call to discuss its financial results for the three months ended December 31, 2024, on February 28, 2025, at 10:00 a.m. Eastern Time [1] - The company will issue a press release with the results prior to the market opening on the same day [1] Participation Details - To participate in the conference call, dial 800-715-9871 with conference ID number 8089430 approximately 10 minutes before the call [2] - The call will also be available via webcast on the company's investor relations website [2] - A recording of the call will be accessible by dialing 800-770-2030 with the same conference ID number, available from 1:00 p.m. Eastern Time on February 28, 2025, until 11:59 p.m. Eastern Time on March 7, 2025 [2] Company Overview - Sphere Entertainment Co. is a leading live entertainment and media company, featuring Sphere, a next-generation entertainment medium utilizing advanced technologies [3] - The first Sphere venue opened in Las Vegas in September 2023 [3] - The company also includes MSG Networks, which operates two regional sports and entertainment networks, MSG Network and MSG Sportsnet, along with a direct-to-consumer streaming product, MSG+ [3]

Core Insights - Sphere Entertainment Co. has appointed Glenn Derry as Executive Vice President of MSG Ventures, bringing over 30 years of experience in entertainment technology [1][2] - Derry will oversee technology initiatives aimed at enhancing live entertainment experiences and will work across the organization to deploy innovative technologies [2][3] - Sphere aims to redefine immersive experiences by combining cutting-edge technologies with storytelling, positioning itself at the forefront of the entertainment industry [3][6] Company Overview - Sphere Entertainment Co. operates Sphere, a next-generation entertainment medium that opened its first venue in Las Vegas in September 2023 [6] - The company also includes MSG Networks, which operates regional sports and entertainment networks and a streaming product, MSG+ [6] Glenn Derry's Background - Derry has a notable history in the film and gaming industry, credited with introducing "virtual production" and previously served as President of Production Technology at AGBO [3][4] - He founded Technoprops, a company recognized for its innovations in visual effects, and received an Academy Award for technical achievement [4][5]

NEW YORK, Jan. 22, 2025 /PRNewswire/ -- MSG Networks released the following statement regarding their carriage dispute with Altice USA: "Connecticut Attorney General William Tong joins New York Attorney General Letitia James and a bipartisan group of federal, state and local elected officials in imploring Altice USA and MSG Networks to reach a deal that results in the immediate return of MSG Networks' local Knicks, Rangers, Islanders and Devils games to Optimum's lineup and its more than 1 million subscribe ...

Core Viewpoint - MSG Networks is seeking to resolve its dispute with Altice USA to ensure that Optimum subscribers can continue to watch their favorite sports teams, including the Knicks, Rangers, Devils, and Islanders, while agreeing to a short extension for binding arbitration [1] Company Overview - MSG Networks operates two regional sports and entertainment networks, MSG and MSG Sportsnet, along with MSG+, a direct-to-consumer streaming service, serving the New York DMA and parts of New Jersey, Connecticut, and Pennsylvania [2] - The networks provide exclusive live local games and programming for teams such as the New York Knicks, New York Rangers, New Jersey Devils, and Buffalo Sabres, as well as coverage of the New York Giants and Buffalo Bills [2] - MSG Networks is recognized as a leader in regional sports media and is part of Sphere Entertainment Co. (NYSE: SPHR) [2]

NEW YORK, Jan. 16, 2025 /PRNewswire/ -- MSG Networks released the following response to Altice USA: "In response to Optimum's last release what we have to say is simple: Cut the B.S. - give us the same deal you gave YES Networks just a few months ago OR give us our old deal which we had with you previously OR refund every subscriber what you owe them - $10 a month. And by the way you already owe them $5 for the lack of programming they didn't get for the first half of January." About MSG Networks MSG Networ ...