Sphere Still Working Out Kinks of Running Entertainment Venue -- Market Talk

Dow Jones11-13

1245 ET - Sphere Entertainment's exosphere advertising, which appears on its spherical entertainment arena near Las Vegas, softened during its fiscal first quarter, the result of what CEO Jim Dolan says on a call with analysts are structural and executional issues with the offering. "We're learning about the product itself and how our advertisers can use it best, and we're making headway on that," he says, adding that the venue is "the first pancake," still working out the kinks. There are also some seasonal issues at play, Dolan adds, with July and August being the venue's slowest advertising season. "I wish that today we lit it up and knew exactly how to run it and exactly how to sell it and exactly how to program it… but that's just not the case." he says. Shares fall 10%. (connor.hart@wsj.com)

(END) Dow Jones Newswires

November 12, 2024 12:45 ET (17:45 GMT)

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