The Wizard of Oz in Las Vegas: Nearing 3 Million Tickets Sold and $370 Million in Revenue
New AI-Enhanced Version of The Wizard of Oz Achieves Record Sales at Sphere
Las Vegas, NV — The AI-enhanced reimagining of The Wizard of Oz, which debuted last August at the Sphere in Las Vegas, has made significant waves in the entertainment industry, selling nearly 3 million tickets and grossing $370 million.
During its first-quarter earnings report, Sphere Entertainment announced this impressive ticket tally while expressing optimism about the production’s continued appeal. The company surpassed Wall Street expectations, reporting a loss of only 4 cents per share compared to analysts’ anticipated loss of 45 cents. Additionally, revenue surged by 38% year-over-year, reaching $386.4 million.
Sphere CEO James Dolan conveyed enthusiasm during the earnings call, possibly buoyed by the recent success of his New York Knicks in the NBA playoffs. He outlined ambitious plans to establish a global network of Sphere venues. While the Las Vegas site remains the only operational location, plans are underway for a full-sized Sphere in Abu Dhabi and a smaller venue at National Harbor near Washington, D.C., slated to open by 2030. Further sites for additional Spheres are currently under consideration.
Notably, major musical acts, including Metallica, U2, Backstreet Boys, The Eagles, and Phish, have graced the Sphere stage, allowing for multiple showings of The Wizard of Oz due to its 75-minute runtime.
Dolan expressed confidence in the production’s longevity, predicting it will remain a strong draw through 2026 and beyond. The updated version of the film utilized AI technology from Google to recreate characters absent from the original 1939 classic, with Warner Bros. and producer Jane Rosenthal also playing crucial roles in the project. However, the overhaul has not been without its critics, as some film purists voiced concern over the changes.
The Sphere’s unique features, which include the highest-resolution screen in the world and state-of-the-art sound, justify ticket prices starting at approximately $100, with higher tiers available. The overall experience is enhanced by technical elements such as wind machines, flying monkeys, and flames.
Jennifer Koester, President and COO of Sphere, noted the broad appeal of The Wizard of Oz, stating, “the value proposition is really resonating with consumers.”
Looking ahead, Sphere is set to launch From the Edge, an extreme-sports documentary directed by Free Solo Oscar winners E. Chai Vasarhelyi and Jimmy Chin. The company is also in discussions with various intellectual property holders and filmmakers to expand its offerings beyond music.
When reflecting on the release’s impact, Dolan highlighted the Sphere’s ability to host multiple shows daily. He noted that a varied daily schedule would be beneficial for the business, as the company’s stock has surged by 47% in 2023 thus far.
"You’re gonna see things like, at 11 o’clock or 10 o’clock in the morning, The Wizard of Oz; at 2 o’clock, From the Edge; at 4 o’clock, a different piece,” he explained. “The biggest changeover is when we do concerts. And even then, we were able to accomplish the changeover in under an hour.”
