State Champ Radio

by DJ Frosty

Current track

Title

Artist

Current show
blank

State Champ Radio Mix

8:00 pm 12:00 am

Current show
blank

State Champ Radio Mix

8:00 pm 12:00 am


Sphere

Page: 4

When Phish takes the stage at Sphere on Thursday to begin its four-night run at the cutting-edge new Las Vegas venue, it’ll do so armed with a bespoke production in keeping with its long history of head-turning concert innovation — which is why co-creative director Abigail Rosen Holmes‘ sentiment on the eve of the shows initially seems counterintuitive.
“We’re pushing a lot of technical boundaries, and we’re doing a lot of things that are somewhat new … but never done for its own sake, all done very specifically to achieve what we want to do creatively,” the live music veteran says of her work with Phish, which follows U2 as the second musical act to play Sphere since it opened last fall. “You should just walk in and think that it was amazing, and you had a great time. If you’re sitting there thinking about what it took for us to build it, then that’s probably not right.”

What Holmes wants fans to focus on is Phish “just being the band playing the best Phish music they can.” Phish has an extensive history of intricately produced “gags” — deploying a fleet of clones, turning Madison Square Garden into an underwater world replete with drone-powered whales and dolphins, or even doing a Broadway-caliber staging of its song cycle about the fantasy world of Gamehendge, to name a few — but Holmes says that since she first began conceptualizing the Sphere shows with the band and its frontman Trey Anastasio last July, they’ve eschewed such a creative direction.

Trending on Billboard

“We’re going to use all of the opportunities of this building — the audio, the visuals — and do it while supporting Phish truly playing music the way Phish plays music,” she says. “That became really the guiding star for everything that we thought about creatively. How do we create visuals and use all the technology of this space — and not impede Phish being able to play anything they want any way they want on the night?”

It’s a marked contrast from U2, which kept its show more or less the same for each of the 40 nights it played Sphere, and designed impressive song-specific visuals for several key tracks. That Phish will mix up its show for each gig on a four-night run — not repeating a single song — is a given; what that looks like in a venue with Sphere’s epic visual capabilities is less familiar territory.

Abigail Holmes

Rene Huemer

Still, in Holmes and the Montreal-based multimedia studio Moment Factory, whose Sphere team is led by the show’s co-creative director Jean-Baptiste Hardoin, Phish has secured a creative crew that’s up to the paradoxical task of orchestrating an advanced, immersive sensory experience to accompany a band whose musical signature is improvisation. Holmes started working with Phish in 2016, when she collaborated with lighting director Chris Kuroda on designs for the band’s touring show, and she conceptualized the live production for Anastasio’s 2019 side project Ghosts of the Forest; her career dates back to lighting work on Talking Heads‘ Stop Making Sense, and extends far beyond her concert résumé — she’s also worked with Janet Jackson and Roger Waters, among others — to architectural and installation projects, including a stint at Walt Disney Imagineering. “I feel like people often reach out to me for projects that don’t fall neatly into any really easy category,” she says, adding with a laugh, “People call me for their weird stuff.”

In Moment Factory, Phish united Holmes with kindred interdisciplinary spirits. The firm has worked with Phish several times dating back to 2015, including on its 2018 and 2021 Halloween gags and on its 2022 Earth Day show at Madison Square Garden — the one where the band turned the venue into an arena-sized aquarium. Like Holmes, Moment Factory’s work extends beyond its music clients — who include Billie Eilish and Halsey — and into airports, malls and more. But even so, Moment Factory producer Daniel Jean explains, “The challenge with Phish [at Sphere] was the biggest challenge we’ve ever faced […] to make sure that we create a show that is flexible and can react in real-time.” As Hardoin puts it, the team has been “trying to design the unpredictable.”

While Holmes and Moment Factory are tight-lipped about specific creative elements of the show, which they began workshopping in earnest last October, they share some broad strokes. Each night will have a loose theme, Holmes says, not unlike those that governed each concert in Phish’s 13-show Madison Square Garden “Baker’s Dozen” run in 2017. That choice “provided a little bit of a framework for a jumping-off point for ideas for the visuals,” she says, though she emphasizes it’s “not rigid in the song choice, it’s not rigid in the visuals.”

Those visuals will be twofold. Kuroda, the band’s longtime lighting designer, known for improvising his work along with the band’s jams, will continue that role at Sphere, utilizing a new version of his intricate rig designed specially for the venue. “The amazing rig that he has on tour was not a good fit into this building,” Holmes says. “It sits in front of the screen, it takes a lot of motors that would be in front of the screen. We realized pretty early on that that would have to change. I’m extremely excited to watch the new rig that’s designed for him in here. It plays a role in tandem with the screens instead of existing on its own.”

Moment Factory contributed to the set design that ensured Kuroda’s lighting rig and Sphere’s screen could live in harmony. And furthermore, Sphere has provided an opportunity for the company to expand its early 2000s roots in multimedia to staggering proportions. “We’re basically VJ’ing on a 16,000-by-16,000-pixel ratio for Sphere,” Jean says.

Phish

Rene Huemer

The exact nature of those visuals remain under wraps until Phish takes the stage on Thursday night, but the creative process Holmes and Moment Factory describe sounds groundbreaking. In a nutshell, the Moment Factory team has created visuals and worked with Holmes to create a playback interface — not unlike the custom programming Kuroda has implemented over the years for his lighting rig — that will allow for real-time manipulation of the visuals that follow Phish’s musical impulses.

“It was a matter of, OK, how can we evolve this universe for eight to 20 minutes, with different parameters, wheter it’s the colors, whether it’s the saturation, whatever,” Hardoin says. “[Holmes] has a very good understanding of the music of the band. She’s able to modulate [the visuals] live, as lighting designers do.”

At the shows, Holmes will be executing the visuals, which will integrate generative content and use existing technologies in new ways, like Epic Games’ Unreal Engine, a platform that allows creatives in fields like gaming, television and live events to blend live-action video and CG. (“That’s been pushed very far past what’s been done in other places,” Holmes says of Unreal.)

For months, Holmes and her team have used the vast trove of Phish concert recordings to simulate how the Sphere visuals “might evolve during a jam … being quite careful to use multiple versions, because they’re going to be radically different,” she says. “The visuals go in real-time to support [the band] and follow them musically, not the other way around.”

Phish’s penchant for newness is, in Holmes’ estimation, what will define the band’s Sphere run — and it explains why the booking appealed to the band in the first place. While the band capped off its 40th anniversary year in 2023 with a New Year’s Eve production of its Gamehendge saga, comprised of some of its oldest material, Phish has a new studio album out this summer (Evolve, due July 12) and continues to introduce fresh material while rethinking its live presentation.

“When we think about this show, it’s today — it’s not referencing the past,” Holmes says. “This is a piece of them taking a huge risk and experimenting and trying something new, because that’s what they like to do.”

U2 singer Bono paid tribute to late Russian opposition leader Alexei Navalny during the band’s residency show at Las Vegas’ Sphere on Saturday night, less than a day after the most prominent critic of Russian president Vladimir Putin was reported dead. “Alexei Navalny!” Bono said as the crowd repeated the Kremlin critic’s name back to him in full.

Explore

See latest videos, charts and news

See latest videos, charts and news

“Next week it will be two years since Putin invaded. For these people, freedom is not just a word in a song,” Bono said about the Russian dictator’s unprovoked war on Ukraine in video captured by a fan. “For these people, freedom is the most important word in the world – so important that Ukrainians are fighting and dying for it. And so important that Alexey Navalny chose to give his up,” Bono added to cheers from the crowd.

Navalny’s death while in custody has drawn worldwide condemnation in light of the opposition leader’s history speaking out against Putin’s repressive rule. In 2020, anti-corruption crusader and lawyer Navalny, 47, was poisoned with a deadly nerve agent Novichok. Though he never confirmed Putin was behind the attempt on his life, Navalny blamed the Russian leader for the attempted assassination using a method preferred by Russia’s Federal Security Service.

Trending on Billboard

Despite the clear and present danger to his life, Navalny returned to Russia in 2021, where he was immediately arrested and accused of parole violations, leading to rare mass protests across the nation. He was then sentenced to more than 20 years in prison on embezzlement and contempt charges in what international observers dubbed a show trial. After going missing from the prison he was sent to for three weeks in Dec. 2023, Navalny popped up in a barren Arctic Circle penal colony earlier this year before his death was announced on Friday.

Officials at the Russian prison service said Navalny reportedly died after falling unconscious while taking a walk. “Apparently, Putin would never, ever say his name so I felt tonight, the free people from here – people who believe in freedom – we must say his name,” Bono said during Saturday’s show, according to CNN.

Former one-term president Donald Trump — the leading Republican candidate for the 2024 presidential election — has so far declined to publicly condemn Russia and Putin for Navalny’s death, which has still not been explained. In fact, Trump used it as a means to once again denigrate his political opponents and complain about his many legal issues in what he dubbed a “FAILING NATION!” in one of his all-caps social media missives over the weekend.

The White House on Tuesday (Feb. 20) announced plans for “major sanctions” on Russia in the wake of the incident, with National security communications advisor John Kirby saying the new sanctions are designed to “hold Russia accountable for what happened to Mr. Navalny,” according to USA Today.

U2, long known for their political activism, followed the Navalny shout-out with a cover of Crowded House’s 1986 ballad “Don’t Dream It’s Over,” a staple of their Vegas shows. Just months after Russia launched the war on Ukraine, Bono and U2 guitarist The Edge played a May 2022 show at the Khreschatyk metro station in Kyiv at the invitation of Ukrainian President Volodymyr Zelensky.

“Edge and I got to stand with some of the people in Ukraine as they stood in that train station, which was a converted bomb shelter,” Bono told the Sphere crowd of that underground gig. “We got to stand with some of the people of Ukraine as they waited for the train to arrive with the rest of the free world on it. They’re still waiting for some of that train to arrive. America, you’re so generous. But let’s get these people what they need.”

The Sphere venue in Las Vegas isn’t turning a profit, but it’s doing enough to encourage investors to buy into its owner, Sphere Entertainment Co.

Shares of Sphere Entertainment gained 13.8% to $40.29 this week after the company’s quarterly earnings report released Monday (Feb. 5) showed that the state-of-the-art venue — currently capturing eyeballs ahead of the Super Bowl in Las Vegas on Sunday — took in revenue of $167.8 million and had an adjusted gain of $14 million (adjusted to certain items including $117 million of non-cash impairment related to the company’s failed bid to open a Sphere in London).

Sphere Entertainment was the top-performing music stock in a week when music stocks soared to new heights, with the 20-company Billboard Global Music Index gaining 3% to land at a record 1,636.43. While the numbers of winners and losers were even at 10 stocks apiece, most of the index’s most valuable companies posted gains this week. Tencent Music Entertainment rose 6.7% to $9.67, Live Nation improved 1.5% to $89.53 and Universal Music Group gained 1.2% to 27.41 euros ($29.55). 

Spotify, another of the index’s largest companies, gained 8.2% to $240.77 after its earnings results on Tuesday (Feb. 6) showed its subscriber number grew to 236 million, up 10 million in the quarter, and that revenue grew 16% to 3.67 billion euros ($4.05 billion). The share price reached its highest mark since December 2021 as investors discovered a renewed faith in Spotify following its decision to cut 17% of its workforce in December. Spotify has always had a good product. Now, there is a growing feeling it can be a good business, too.

“The market is now seeing the potential of this business,” Morgan Stanley analysts wrote in a Wednesday (Feb. 7) note to investors, “as record [monthly active user] net adds and subscribers come alongside price increases and an aggressive turn towards cost efficiency.” Stronger revenue growth and the potential for better margins led Morgan Stanley to raise its Spotify price target from $250 to $270.

Major indexes gained this week, too, and one reached a major threshold: The S&P 500 closed above 5,000 for the first time on Friday as it rose 1.4% to 5,026.61, while the Nasdaq composite improved 2.3% to 15,990.66, its highest level since 2021, thanks to big gains from chip maker Nvidia and e-commerce giant Amazon. In the United Kingdom, the FTSE 100 declined 0.6% to 7,572.58. South Korea’s KOSPI composite index rose 0.2% to 2,620.32. China’s Shangai Composite Index jumped 5% to 2,865.90. 

It was a busy week for corporate earnings reports. CTS Eventim shares rose 5.5% to 66.90 euros ($72.12) following the company’s fourth-quarter results Wednesday. The German concert promoter’s 2023 revenue reached 2.4 billion euros, up 22.5%, and earnings before interest, taxes, depreciation and amortization improved 31.9% to 501.4 million euros.  

Warner Music Group (WMG) shares briefly rallied following its earnings results on Thursday — with the stock up 5.1% to $38.05 — but it finished the day down 2.5% and the week down 2.6% to $35.71. Morgan Stanley analysts remained “overweight” on WMG and kept the price target at $42. Guggenheim analysts reiterated their “buy” rating and maintained their $46 price target. 

MSG Entertainment shares rose 9% to $36.81 after the company’s fiscal second-quarter earnings results were released Wednesday. The New York-based live entertainment company raised revenue guidance for its full fiscal year by 10% to a range of $930 million to $950 million. Executive chairman/CEO James Dolan attributed the strong quarter to “record results” from the Christmas Spectacular production, the long-running show featuring the Radio City Rockettes. 

LiveOne shares fell 2.1% after PodcastOne reported a 22% increase in revenue in the first nine months of its fiscal year on Thursday (Feb. 8). (LiveOne spun off PodcastOne in 2023 and retained a 73% stake.) PodcastOne ranked No. 10 in Podtrac’s top publisher’s rankings and achieved a U.S. audience of 5.3 million, but its net loss increased from $3 million to $13.7 million. 

In its first full quarter of operation, Sphere, the next-generation music venue in Las Vegas, lost $193.9 million on revenue of $167.8 million, its owner, Sphere Entertainment Co., announced Monday (Feb. 5). The company posted an adjusted operating gain of $14.1 million if “certain corporate overhead expenses” were excluded. 

Explore

Explore

See latest videos, charts and news

See latest videos, charts and news

In the quarter ended Dec. 31, nearly half of Sphere’s revenue — $92.9 million — came from The Sphere Experience’s 191 performances. (The Sphere Experience includes a tour of the venue and a viewing of the film Postcard From Earth.) Concerts accounted for nearly all of the $55.2 million of event-related revenues. Advertising on the outside of the venue and suite license fees totaled $17.5 million. 

After U2’s residency ends on Mar. 2, the venue will host runs by Phish and Dead & Company. Executive chairman/CEO Jim Dolan didn’t announce any new residencies but said during Monday’s earnings call that “pretty much our calendar is full for this calendar year.” Demand from artists continues to grow, Dolan added, and the company expects 2025 to be “another full year.”

Including MSG Networks, Sphere Entertainment had $314.2 million of revenue and an operating loss of $159.7 million. MSG Networks had revenue of $146.4 million, a 12.5% decline from the prior-year period. 

Sphere opened on Sept. 29 and posted $4.1 million from two U2 concerts, and $7.8 million in total revenue, in the previous quarter. The venue has received rave reviews and worldwide attention for its captivating audio-visual experience and presence on the Las Vegas skyline. It featured prominently in Las Vegas’s Formula 1 race in November and will grab more attention this weekend as Las Vegas hosts Super Bowl LVIII on Sunday (Feb 11). 

Although Sphere ended its bid to expand into London, the company is having “substantive discussions about expanding to international markets,” said Dolan. The plan is to have a franchise model for additional venues that will generate revenues immediately through construction and development, Dolan added. 

Shares of Sphere Entertainment rose as much as 10.4% to $39.11 on Monday and closed at $38.97, up 10.1%.

After announcing on Wednesday (Jan. 31) that the next resident artist at Las Vegas‘ Sphere would be Dead & Company, the Grateful Dead spin-off band revealed the dates for their six-week summer run on Thursday (Feb. 1). The shows dubbed Dead Forever will consist of 18 shows overs six consecutive weeks from May 16 through […]

Former Google executive Jennifer Koester joins Sphere Entertainment as president, Sphere Business Operations, with effect from Feb. 5.
In this new position, Koester leads the strategy and execution of all business aspects of Sphere, the $2 billion next-generation entertainment space that opened last September in Las Vegas, with U2’s UV’s Achtung Baby Live At Sphere residency.

Announced today (Jan. 22), Koester will work closely with executive leadership to grow the Sphere businesses, including maximizing the calendar and ticket sales; driving strategic partnerships with artists, managers, promoters and others in the live entertainment space; and developing a corporate conference business for product launches and other events.

Explore

Explore

See latest videos, charts and news

See latest videos, charts and news

Based in New York, Koester reports to James Dolan, executive chairman and CEO, Sphere Entertainment.

“We have seen a strong worldwide reaction to Sphere from customers, brands and artists since our September opening,” comments Dolan in a statement, “and we look forward to leveraging Jennifer’s extensive background driving growth at premier technology and entertainment brands as we continue to build our Sphere business.”

Koester joins the company having racked-up 25 years’ executive-level experience across sales, marketing, technology, digital business, legal counsel and more, most recently serving as managing director, Americas strategic alliances, global partnerships at Google Commercial Operations. Before that, she was director, telecommunications and video distributors, global partnerships at Google.

“Throughout my career, I have focused on pioneering and delivering growth strategies that bridge business needs and leverage new technologies,” she comments, “and I am excited to bring that experience to Sphere.”

The state-of-the-art venue on the Vegas Strip is massive — standing 366 feet tall by 516 feet wide, big enough to house the Statue of Liberty. But it’s the detail that matters.

Its 20,000 capacity main room is dominated by a 160,000-square-foot LED screen that curves and towers to an apex of 240 feet above. Footage from U2’s first run in the room went viral, and the shows were box-office gold.

According to Billboard Boxscore, U2‘s 17-show run beginning in September at Sphere generated nearly $110 million in ticket sales, with an SEC filing noting that those dates generated a total of $30.7 million in revenue for Sphere Entertainment through Nov. 30.

Next up, Sphere Entertainment’s own content offering, Darren Aronofsky’s Postcard from Earth, generated approximately $44.5 million in total revenue from ticket sales from 111 showings.

Read more here.

Sphere Entertainment has said it’s committed to working with alternative “forward-thinking cities around the world” after officially withdrawing plans to build a Sphere concert arena in London.   
On Monday (Jan. 8), Sphere Entertainment’s sister company, Madison Square Garden Entertainment (MSGE), which is owned by tycoon James Dolan, told British officials that it would not be proceeding with its long-standing proposal to build a Sphere venue in the British capital city.   

The announcement came less than two months after London Mayor Sadiq Khan blocked plans for the 21,500-capacity, 300-foot-tall spherical building because of the impact he believed it would have on the surrounding area, including high energy use and the “significant light intrusion” it would cause local residents.   

In a letter to the planning inspectorate seen by Billboard, Richard Constable, MSGE’s executive vp/global head of government affairs and social impact, told officials that “following careful review, we cannot continue to participate in a process that is merely a political football between rival parties.”  

“It is extremely disappointing that Londoners will not benefit from the Sphere’s groundbreaking technology and the thousands of well-paying jobs it would have created,” wrote Constable, confirming that MSGE — acting on behalf of Sphere Entertainment — was officially withdrawing its application from the planning process.

The termination of MSGE’s plans for a London version of its $2 billion Sphere venue in Las Vegas follows years of controversy surrounding the project, which was due to be built on a five-acre plot of land in Stratford, East London (the site has been largely derelict since 2012 when it was used as a temporary coach park during the London Olympics).

A proposal for what was later christened MSG Sphere London was first submitted in 2019, but it immediately received strong opposition from local councillors and campaign groups, as well as AEG, the owner and operator of the 20,000-capacity The O2 arena located less than five miles away.   

Despite residents’ concerns, The London Legacy Development Company provisionally greenlit the plans in March 2022 before they were subsequently overturned by Mayor Khan last November.   

In a statement, Sphere Entertainment said it had informed Michael Gove — the U.K. secretary of state for levelling up, housing and communities, who initiated a review of the mayor’s decision in December — that it would not be moving forward with its plans for London and would not be participating in a review.

“We are committed to continuing to work collaboratively with forward-thinking cities around the world who are serious about bringing this next-generation entertainment experience to their communities,” said a spokesperson for Sphere Entertainment.

Sphere Entertainment Co., formerly Madison Square Garden Entertainment (MSGE), was formed in April when MSGE’s traditional live entertainment business, which includes the Madison Square Garden and Radio City Music Hall venues in New York, split off from the Sphere and MSG Networks businesses. Sphere retained a 33% stake in MSGE.

The five-acre site earmarked for the London Sphere, which MSGE bought for around £60 million ($76 million), is now expected to be put up for sale.   

Meanwhile, the developer is understood to be in talks with multiple international markets about rolling out the Sphere model in other global cities, following its high-grossing debut in Las Vegas last year with a residency by U2.

In December, the New York Post reported that Dolan was meeting with investors in Abu Dhabi about building a second Sphere in the United Arab Emirates capital. Also last year, several South Korean newspapers reported that the city of Hanam was another potential future location after talks took place between city officials and representatives of MSGE. Sphere Entertainment Co. declined to comment on those reports when contacted by Billboard.   

Sphere Entertainment Co. has promoted Ed Lunger to senior vp/GM of Sphere, the groundbreaking venue that opened in Las Vegas last September.
After previously serving as Sphere’s vp/assistant BM of back of house operations, Lunger will now oversee building operations, event production, technical operations, guest services, food and beverage, merchandise operations and ticket operations. He will also work across the Sphere organization to develop, execute and support strategic plans aligned with the venue’s overall business objectives.

“Being part of the Sphere team opening this next-generation venue has been an honor, and I’m grateful for the opportunity to now lead our venue operations team in this new role,” Lunger said in a statement. “Sphere is setting a new standard for the in-venue guest experience, and I look forward to working with my colleagues across the organization as we continue to deliver unforgettable moments for our guests right here in Las Vegas.”

“I am pleased that Ed has taken on a new leadership role with Sphere,” added Rich Claffey, Sphere’s executive vp/COO. “Since its opening, Sphere has been delivering a first-of-its-kind experience to guests. With his deep expertise in venue management and operations, including at other venues in the MSG Family of Companies, Ed will ensure that Sphere is well positioned to continue building on our world-class experience.”

Lunger is based in Las Vegas and has been on Sphere’s venue leadership team since 2020. He previously spent seven years on the venue operation team at the Forum in Inglewood, Calif., and also worked in various venue operations and engineering roles at Madison Square Garden.

Sphere opened to much fanfare in September with a residency from U2. In December, Billboard Boxscore reported that the band’s 17-show run at Sphere generated nearly $110 million in ticket sales; a Securities and Exchange Commission filing from Dec. 5 notes that those shows generated a total of $30.7 million in revenue for Sphere Entertainment through Nov. 30. Meanwhile, Sphere Entertainment’s own content offering, Darren Aronofsky’s Postcard from Earth, generated approximately $44.5 million in total revenue from ticket sales from 111 showings.

U2‘s residency has been extended multiple times, with the final shows slated for May. Phish will play its own four-show Sphere residency this April.

Sphere Entertainment provided the first inside glimpse at the finances of James Dolan‘s $2 billion Sphere project in Las Vegas in a new Securities and Exchange Commission filing on Tuesday (Dec. 5).
Spun off from Madison Square Garden Entertainment in April and now trading on the NYSE as SPHR, the company is expected to report positive adjusted income this quarter thanks to the opening of the venue and a successful run of shows including U2:UV’s Achtung Baby Live At Sphere.

According to Billboard Boxscore, U2‘s 17-show run beginning in September at Sphere generated nearly $110 million in ticket sales. The SEC filing notes that those shows generated a total of $30.7 million in revenue for Sphere Entertainment through Nov. 30. Meanwhile, Sphere Entertainment’s own content offering, Darren Aronofsky’s Postcard from Earth, has generated approximately $44.5 million in total revenue from ticket sales from 111 showings.

U2 played its first show at Sphere on Sept. 29, 2023, kicking off a multi-month run at the venue. Due to the strong demand, 15 more shows have been added in January, February and March 2024, bringing the band’s planned number of performances to 40.

Also in the SEC filing, the company announced plans to raise money through the sale of $225 million in convertible senior notes that are due to mature in 2028, as well as the option for purchasers to buy an additional $33.75 million in notes.

Sphere Entertainment plans to use a portion of the proceeds from the notes sale to fund capped call transactions designed to reduce the potential dilution of its common stock from the conversion of debt into equity. The remainder of the net proceeds will be used for general corporate purposes, including capital for Sphere-related growth initiatives, according to a release announcing the offering. The initial conversion rate, interest rate and certain other terms of the notes will be negotiated between Sphere Entertainment and the initial purchasers.

Sphere Entertainment began the quarter (starting Sept. 30) with $433.5 million in cash on hand, with $123 million coming from advance ticket sales. The principal balance of the company’s total debt at the beginning of the quarter was approximately $1.2 billion, including $932.3 million of debt under the MSGN Credit Facilities. Under the terms of the MSGN deal, $103.1 million in required quarterly amortization payments are due between Sept. 30, 2023, and Oct. 11, 2024.

Shares of Sphere Entertainment dropped nearly 20% in trading after the company announced the debt offering, but bounced back slightly and were down 15.5% to $28.41 at the market’s close.

Phish are the next major act booked to play Las Vegas’ eye-popping Sphere venue. The band announced on Thursday (Nov. 30) that they will do a four-show run at the building from April 18-21, 2024, with each night set to feature a unique setlist and visuals. Explore Explore See latest videos, charts and news See […]