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Initial projections placed the cost of constructing the Las Vegas Sphere at approximately $1.2 billion. However, Sphere Entertainment ultimately invested about $2.3 billion in the development of this cutting-edge entertainment venue. As it aims to extend its reach to different cities, the company is also exploring the idea of smaller, more cost-effective venues.
According to Sphere Entertainment’s Executive Chairman and CEO, James Dolan, the company is in the process of designing mini-Spheres equipped to host around 5,000 attendees, as mentioned during a recent investment call reported by AV Magazine. The original Las Vegas Sphere accommodates 17,600 spectators, with standing space allowing for nearly 20,000 attendees.
The introduction of these smaller venues, which would need less physical space and parking, stands to reduce construction and operational costs significantly. This move could enable a broader array of artists to perform, benefiting from the more accessible nature of these mini-Spheres. Creating customized visual content for the Las Vegas Sphere’s expansive 160,000-square-foot LED screen requires a considerable investment, making it a challenge for many performers. While the venue has hosted renowned acts such as the Eagles, Phish, and U2—who utilized the expertise of the visual effects studio Industrial Light and Magic—most artists do not possess the financial resources for such ambitious productions.
Despite the reduced scale, the mini-Spheres are set to feature large wraparound screens, offering highly immersive experiences akin to their larger counterpart. U2 recorded one of their performances during their 40-show residency at the Sphere, resulting in an immersive concert film that provides a cost-effective option for fans unable to attend live shows. These mini-Spheres could serve as venues not only for live performances but also as spaces for screening similar concert films, creating more opportunities for artists to recover expenses associated with traditional live concerts.
Source
www.theverge.com