Sphere Entertainment Co (NYSE: SPHR) is an entertainment company that operates the Sphere venue in Las Vegas, a large-scale immersive entertainment venue, along with a retained interest in MSG Networks. The company generates revenue through live events, residencies, sponsorships, and venue-related programming at Sphere Las Vegas. Sphere Entertainment Co was incorporated on November 21, 2019 as a subsidiary of Madison Square Garden Sports Corp., originally under the name Madison Square Garden Entertainment Corp., and renamed Sphere Entertainment Co. following the April 20, 2023 distribution of its MSG Entertainment subsidiary. The company is organized under the laws of Delaware. Following the full disposition of its retained interest in Madison Square Garden Entertainment Corp., Sphere Entertainment Co. operates primarily through its Sphere venue business.

Revenue model

Revenue is generated through live event programming, concerts, residencies, sponsorships, and immersive experiences hosted at the Sphere venue in Las Vegas, as disclosed in the 10-K filed February 12, 2026.

Products and services

Sphere Las Vegas, an immersive large-scale entertainment venue; MSG Networks (wholly-owned subsidiary following the July 9, 2021 Networks Merger).

Customers and end markets

Live entertainment consumers, concert and event attendees, corporate sponsors, and advertisers. The filing excerpts do not provide specific customer concentration or end market percentage breakdowns.

Value-chain role

Venue operator and entertainment content host; operator of a proprietary large-format immersive venue.

Geographic exposure

Las Vegas, Nevada, United States. The filing excerpts do not support additional geographic detail.

Source: SEC 10-K, filed 2026-02-12

Industry: Services-Amusement & Recreation Services Peers: Migom Global Corp. AMC Entertainment Holdings Inc Cinemark Holdings Inc Madison Square Garden Sports Corp Marcus Corp Roku Inc Walt Disney Co WORLD WRESTLING ENTERTAINMENT, LLC