Sphere Entertainment's second quarter revenue grew 11% to $313.6 million, driven by strong Sphere segment growth.

Sphere Entertainment reported second quarter revenue of $313.6 million, up 11% from the prior year, alongside a diluted loss per share of $1.07. The company's adjusted operating income decreased 17% year-over-year to $50.9 million, as strong performance in the Sphere segment was tempered by declines in the MSG Networks business.

Key Highlights

• The Sphere segment was the primary growth driver, with its revenue increasing 29% to $226.4 million, largely due to higher per-show revenue from The Wizard of Oz at Sphere experience.
• The legacy MSG Networks segment continued its decline, with revenue falling 18% to $87.3 million, which management attributed primarily to an approximate 16.5% decrease in total subscribers.
• Since its opening in August 2025, The Wizard of Oz at Sphere experience has surpassed $400 million in ticket sales, with over three million tickets sold.