“The Wizard of Oz” Soars at Las Vegas Sphere, Eyes $1 Billion

The reimagined musical adaptation of The Wizard of Oz has emerged as a significant draw at the Las Vegas Sphere, with projections suggesting it could generate revenues nearing $1 billion. This modern take on the iconic 1939 film combines classic storytelling with cutting-edge technology, attracting audiences daily.

According to a report from Bloomberg, the production is consistently filling seats, with attendance figures ranging from 4,000 to 5,000 viewers two to three times each day. With ticket prices averaging around $200, the venue is raking in daily sales that could reach as high as $2 million from a single show. James Dolan, chairman and CEO of the Sphere, anticipates that the production will earn hundreds of millions of dollars in the coming year, potentially surpassing the $1 billion mark during its run.

Dolan secured the rights to the film from Warner Bros. Discovery and invested nearly $100 million to adapt it for the Sphere’s impressive LED screen. The film has been condensed to a 70-minute format, enhanced by immersive effects such as 750-horsepower fans, which have left a memorable impression on critics. Notably, Amy Nicholson of the Los Angeles Times remarked that the effects were so powerful they “blew my bangs straight off my forehead.” Dolan indicated that more than 120,000 tickets had been sold prior to the official opening.

The Sphere itself, which cost $2.3 billion to construct, has become a lucrative venue, generating more revenue from films than concerts. According to Peter Supino, an analyst at Wolfe Research, the Sphere’s film offerings are projected to generate around $400 million annually, compared to approximately $200 million from concerts. Unlike concert revenues, where performers retain a majority share, the Sphere retains most of the box office earnings from its films. Dolan also reported strong ticket sales for Darren Aronofsky‘s upcoming project, Postcard From Earth, with over 4 million tickets already sold.

Looking ahead, Dolan is exploring future projects, including discussions with Warner Bros. about potential adaptations of Harry Potter titles and conversations with Disney about Star Wars productions. Glenn Derry, executive vice president of MSG Ventures, noted that the effects designed for The Wizard of Oz are versatile and can be reused for other shows, describing them as “evergreen,” according to The Hollywood Reporter.

Plans are also in motion to expand the Sphere internationally, with a project in Abu Dhabi and smaller versions intended for various locations worldwide. Dolan expressed confidence in the longevity of the production, stating, “Ultimately, we’ll run The Wizard of Oz forever… It’s hard for me to imagine a better product than The Wizard of Oz.”

As this classic musical continues to captivate audiences through innovative technology and a fresh presentation, it stands poised to make a significant impact on the entertainment landscape in Las Vegas and beyond.