"U2's First Batch Of Shows At The Sphere Generated Nearly $110M In Ticket Sales" - Billboard
Portfolio Pulse from Benzinga Newsdesk
U2's residency at The Sphere in Las Vegas, titled 'U2:UV Achtung Baby Live at Sphere', has grossed $109.8 million from 17 shows, selling 281,000 tickets. With an average of $6.5 million and 16,500 tickets per show, the average ticket price was $390.97. This residency is the fastest grossing in Boxscore history, with potential to reach $330 million after all scheduled shows. The Sphere, a venue with a $2.3 billion cost, has been highlighted for its advanced audiovisual technology.
November 28, 2023 | 8:18 pm
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POSITIVE IMPACT
The Sphere, associated with the ticker SPHR, hosted U2's record-breaking residency, generating nearly $110M in ticket sales, with more shows to potentially add another $120M.
The Sphere's successful hosting of U2's residency, resulting in record-breaking ticket sales, is likely to positively influence investor perception and potentially the stock price of SPHR in the short term. The news showcases the venue's ability to attract large audiences and generate significant revenue, which could be seen as a strong indicator of its profitability and appeal. The continued success with upcoming shows could further bolster this positive impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80