SPHERE ENTERTAINMENT AND THE DEPARTMENT OF CULTURE AND TOURISM - ABU DHABI ANNOUNCE PLANS TO MAKE ABU DHABI NEXT SPHERE VENUE LOCATION

Core Viewpoint - Sphere Entertainment Co. and the Department of Culture and Tourism – Abu Dhabi are collaborating to establish the world's second Sphere venue in Abu Dhabi, enhancing the city's entertainment landscape and aligning with its Tourism Strategy 2030 [1][2][4]. Group 1: Company Overview - Sphere Entertainment is a premier live entertainment and media company that aims to redefine the future of live entertainment through next-generation venues [7]. - The first Sphere venue opened in Las Vegas in September 2023, receiving worldwide acclaim and setting a new standard for immersive experiences [2][6]. Group 2: Partnership Details - The partnership involves DCT Abu Dhabi paying a franchise initiation fee to Sphere Entertainment for the rights to build the venue, which will utilize Sphere's proprietary designs and technology [4]. - DCT Abu Dhabi will fund the construction, while Sphere Entertainment will provide expertise in development, construction, and pre-opening services [4][5]. Group 3: Venue Specifications - The Abu Dhabi Sphere venue will mirror the 20,000-capacity Sphere in Las Vegas and is expected to attract both residents and international visitors year-round [3]. - The venue aims to offer unique events, concerts, and shows in a revolutionary setting, enhancing the overall entertainment experience in the region [3]. Group 4: Future Plans - Following the venue's opening, Sphere Entertainment plans to maintain ongoing arrangements with DCT Abu Dhabi, including annual fees for creative content and operational services [5]. - The collaboration is expected to drive significant growth potential and new revenue streams for Sphere Entertainment through its expertise and proprietary technology [2].