Vegas Sphere Earned More in ’24 than Any Concert Venue in Any Year

The Sphere’s $420.5 million gross from 1.3 million tickets sold makes it not only the No. 1 money-earning large concert venue on this year’s Billboard annual Boxscore list, but the No. 1 money-earning concert venue of all time.

Not only is the Sphere the first venue to make more than $400 million in a year, it’s the first to make more than $300 million.

“With a floor-to-ceiling wrapround LED screen, 4D physical effects and immersive audio,” Billboard wrote, “it’s a high-ticket attraction for once-in-a-career productions.”

It’s Still a Money Loser

That $420.5 million gross wasn’t profit, though. The Sphere still reported an operating loss of $341.2 million for the fiscal year ending June 30, 2024. That’s despite earning $1.03 billion in revenue during the same period. For the quarter ending September 30, it recorded a loss of $125.1 million on revenue of $127.1 million

This is largely because of how much it must pay its headlining acts. U2, which opened the globular venue in September 2023, reportedly earned 90% of the gate plus $10 million to shoot its visuals.

Though U2’s Sphere residency ended up becoming the fourth highest-grossing residency in Billboard Boxscore history — despite only logging 40 shows, it earned $244.5 million — it was also undoubtedly the most expensive residency ever staged.

And it was probably difficult, if not impossible, for Sphere owner James Dolan to pay significantly less to the acts he signed in U2’s wake — Phish, Dead & Company, and currently, the Eagles.