The Sphere in Las Vegas has become the highest-grossing concert venue ever, generating $420.5 million from 1.3 million tickets sold in 2024. This historic achievement makes it the first venue to surpass both the $300 million and $400 million annual revenue marks.

The venue's success can be attributed to its massive capacity (15,000-17,000 tickets per show) and premium features, including a floor-to-ceiling LED screen, 4D physical effects, and immersive audio technology. This combination allows the Sphere to attract A-list performers similar to The Colosseum at Caesars Palace and Dolby Live at Park MGM, but with significantly larger audiences.

Despite record-breaking revenue, the Sphere reported an operating loss of $341.2 million for the fiscal year ending June 30, 2024, with total revenue of $1.03 billion. The latest quarter ending September 30 showed a loss of $125.1 million on revenue of $127.1 million.

The substantial losses are primarily due to high performer payouts. U2, who opened the venue in September 2023, reportedly received 90% of ticket sales plus $10 million for visual production. Their 40-show residency generated $244.5 million, making it the fourth highest-grossing residency in Billboard Boxscore history, but also likely the most expensive to produce.

Following U2's successful run, the venue has hosted other major acts including Phish, Dead & Company, and the Eagles, presumably with similar high-cost arrangements to maintain the venue's premier status in the entertainment industry.

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