Las Vegas Sphere Could Soon Show Classic Film 'The Wizard Of Oz': Will Shareholders Follow The Yellow Brick Road To Profits?
Portfolio Pulse from Chris Katje
The Las Vegas Sphere, owned by Sphere Entertainment Co (NYSE:SPHR), plans to show the classic film 'The Wizard of Oz,' which is owned by Warner Bros. Discovery (NASDAQ:WBD). The venue is investing $80 million to adapt the film for its high-tech environment. This move could open new revenue streams for Sphere Entertainment, which has already hosted major events and concerts.
August 08, 2024 | 10:32 pm
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Sphere Entertainment Co (NYSE:SPHR) is investing $80 million to adapt 'The Wizard of Oz' for the Las Vegas Sphere. This move could enhance the venue's revenue streams and attract more visitors.
The significant investment in adapting a well-known film for the high-tech venue could attract more visitors and generate additional revenue, positively impacting SPHR's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Warner Bros. Discovery (NASDAQ:WBD), which owns the rights to 'The Wizard of Oz,' will collect 5% of gross profits from the film's showing at the Las Vegas Sphere.
WBD's collection of 5% of gross profits from the film's showing at the Sphere could provide a modest boost to its revenue, positively impacting its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50