Sphere Entertainment Co. (NYSE: SPHR) is celebrating the blowout success of its re-imagined and immersive Wizard of Oz screenings, which crossed major sales milestones amid the Las Vegas venue’s agressive stock repurchasing program.
The company announced that The Wizard of Oz at Sphere — which debuted August 28 as the newest Sphere Experience — has already sold more than 500,000 tickets, generating over $65 million in sales through September 12. More than half of those sales, 280,000 tickets, came in just 15 days following its premiere. Tickets remain on sale into April 2026 with multiple daily showtimes.
The Wizard of Oz at Sphere has also drawn strong reactions from critics and audiences alike. Reviews have praised the production’s breathtaking spectacle, particularly the tornado sequence and other sensory effects that use the venue’s scale to full advantage. The re-recorded score, immersive sound system, and AI-extended visuals have been credited with making the 1939 classic feel both fresh and overwhelming in scope, offering what some describe as a “bucket-list” viewing experience.
Not all of the response has been unreservedly positive. Purists have expressed unease with edits and alterations to the original film, while others noted occasional visual artifacts in slower or more intimate scenes. Some critics also argued that the emotional warmth of the original story can feel muted by the heightened technical presentation. Still, most audience feedback suggests that for those who arrive expecting an immersive spectacle rather than a traditional screening, the show delivers.
This reception points to both the promise and challenges of Sphere’s programming strategy — pairing nostalgia with cutting-edge technology. While some debate the balance between reverence and reinvention, the strong ticket sales and largely favorable reviews indicate Sphere has struck a formula with commercial and cultural potential.
News of the Wizard of Oz experience blowout success came fresh on the heels of Sphere’s announcement of a second major round of stock repurchasing. The corporation announced its acquisition of $22.5 million of its own stock between September 3 and 11. Earlier, it had announced $27.5 million in repurchases during late August, which brings the total to more than 1 million shares retired this year at an average price of $47.43. The company says approximately $300 million remains under its current buyback authorization.
These updates build on a solid second quarter earnings report in August. For the three months ended June 30, 2025, Sphere Entertainment posted revenues of $282.7 million, a 3% year-over-year increase, while cutting its operating loss to $50.2 million, an improvement of 30%. Adjusted operating income more than doubled, reaching $61.5 million compared to $25.7 million in the prior-year quarter.
The Sphere segment specifically delivered $175.6 million in revenue for the quarter, up 16% from the prior year. Highlights included the Kenny Chesney residency, returning Eagles and Dead & Company shows, multiple corporate events, and continued sales of Postcard from Earth, which surpassed four million tickets sold since opening in 2023.
Executive Chairman and CEO James L. Dolan said the company remains focused on “strategic priorities to drive long-term profitable growth” and sees “confidence in the global opportunity ahead” as it eyes future expansion.
