Vegas Sphere Teases ‘Wizard of Oz’ 2.0

How do you top a juggernaut like the reimagined “The Wizard of Oz” at the Las Vegas Sphere? With an even more reimagined version!

On Sphere Entertainment’s third-quarter earnings call on November 4, executive chairman and CEO James Dolan hinted that “an enhanced version” of the hit immersive show might launch on August 28, 2026 — marking the year anniversary of the original’s premiere. The updated update would include new features, though Dolan kept specifics characteristically vague.

“We might take you for a ride on a witch’s broom during the show,” he said. “How much more life that will breathe into ‘Wizard of Oz,’ I’m not really sure, but I think it might be pretty good.”

Dolan was not asked by investors how such a broom ride might work, but AI-rendered additional footage from the Wicked Witch’s point of view are a good bet.

Sphere Segment Surges, Losses Shrink

Thanks largely to “Oz,” the Sphere segment of Sphere Entertainment — the parent company that also includes the MSG Network — posted $174.1 million in revenue for Q3 2025. That’s a 37% increase over the same quarter last year. That growth was driven by:

• “The Wizard of Oz,” which surpassed 1 million tickets sold and $130 million in sales by mid-October
• Expanded concert residencies, including the Eagles and Backstreet Boys
• Additional Sphere advertising and sponsorship deals

Despite the revenue surge, the Sphere segment still posted an operating loss of $84.4 million, though that’s a 32% improvement from its $125.1 million loss in Q3 2024.

Dolan made it clear he won’t rush out a new “Oz” until demand for the current one dips off.

“That could be a lot longer than a year,” he said. “When you look at shows like ‘O,’ there was a huge capital investment in the beginning, and they’re just, they’re running it out.”

He added that some form of “Oz” could run for a decade, citing the longevity of Las Vegas staples and the Sphere’s ability to stack multiple events per day.

“It wouldn’t surprise me,” he said.