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Las Vegas Sphere reports $98.4M loss; CFO quits

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Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#81
post #70

It was open for 2 days of the fiscal quarter. The CFO quit after being yelled at by the notoriously combative CEO. The news has been running with this headline because it's drawing clicks but it's not really painting an accurate picture.

Isn’t “not screaming your executive into quitting” kind of a leaders main job?

[deleted]

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#82
post #64

I gotta be honest, I'm not sure what was expected? They spent $2b building this thing, it's brand new tech, it didn't host many shows last quarter (it was open for 1? full month of the quarter). I still think The Sphere is super damn cool and I can't wait to go to an event there.

It hosts shows? And here I had assumed it was just a big weirdly-shaped billboard, and that their business model was "selling ads on it."

https://www.youtube.com/watch?v=7VuQHSVnnvs

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#83

Meta: Someone please correct me. The outside of the Sphere is pretty damned awesome, with its interactive elements and novelty. I'd visit Vegas just to watch it, not that they'd make any money off me for that. The inside looks like an IMAX theater combined with a few planetarium features (lazors?). And, well, I have a really nice IMAX theater only an hour away from me. Why would I pay a premium to see the one in Vega…

IMAX digital is a full-FOV 4:3 4K display with 44 speakers. The Sphere interior is a wrap-around 16K display with 168,000 interference-coordinated speakers. It’s like IMAX squared :P

Obviously it is digital and Omnimax (not IMAX) is analog but how does the Sphere compare to Omnimax? Is it an even bigger field of view?

The most recent time I went to an Omnimax was to see Oppenheimer, but it actually wasn't that great since Oppenheimer was filmed in IMAX versus Omnimax.. the end result was a gigantic wrap around movie that had spherical distortion and made your neck hurt from turning it to see everything.

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#84

I gotta be honest, I'm not sure what was expected? They spent $2b building this thing, it's brand new tech, it didn't host many shows last quarter (it was open for 1? full month of the quarter). I still think The Sphere is super damn cool and I can't wait to go to an event there.

Not only is it brand new, any prospective performance looking to book there is going to have to essentially create a bespoke show for that single venue only, that will not be able to be played anywhere else what with the big ass spherical screen being the primary differentiator. In my mind this is like if you were to build the first IMAX theater if IMAX wasn't already a thing. You'd basically be asking Hollywood to c…

While your team would still need to be involved creatively, I would hope the sphere has an in house team to create content as well?

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#85
post #72

Earlier quoted context omitted.

They're also basically killing any locals going with the cost of concessions and probably driving a lot of people to just not spend any money there. At $40 for a double shot and $20 for a beer, I'd be drinking before I got to the venue if that were my thing. https://www.outkick.com/drink-prices-vegas-sphere-beer-liquo...

That's nearly Ibiza prices.... which is OK if everyone is doing the same thing (well, I say OK, you know what I mean). But if there's any other option, no-one's going there. I've only been once to Vegas, but I don't remember it being pricy.

Vegas has gotten way more expensive over the past 20 years. Now comparable to Silicon Valley prices

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#86

Meta: Someone please correct me. The outside of the Sphere is pretty damned awesome, with its interactive elements and novelty. I'd visit Vegas just to watch it, not that they'd make any money off me for that. The inside looks like an IMAX theater combined with a few planetarium features (lazors?). And, well, I have a really nice IMAX theater only an hour away from me. Why would I pay a premium to see the one in Vega…

The inside of The Sphere is so much more impressive than the outside. The resolution/crispness of the “screen” isn’t talked about but it is a unique experience, unlike any venue or film I have ever been to. I went to U2 a few weeks ago and want to go again. The IMAX comparison is not even close, they are calling it 18k and if you can imagine an IMAX screen wrapping all the way over your head you are on the way. I hav…

> if you can imagine an IMAX screen wrapping all the way over your head you are on the way.

Those actually do exist! [1] That picture isn't great, but if you search for "Imax Dome" there's some videos and stuff. I still remember watching a movie in one that was kinda like an early racing drone flying through a canyon and being awed as a kid.

They're projector based, rather than curved screens. The first one was built in the 1970s.

The Sphere probably still blows it out of the water specs wise, but more people than you'd think are familiar with the "surrounded by the image" phenomenon.

1: https://www.spitzinc.com/wp-content/uploads/2014/07/Fleet-Do...

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#87
post #8

How is this thing not filling nightly with $1000 tickets to Laser Floyd? Vegas has dispensaries - this seems like a no brainer.

I visited Vegas for the first time this year and I enjoyed it way more than I thought I would. I was surprised to learn that, despite its reputation as a party city, it isn't technically legal to consume cannabis on the Strip. I guess it's in the interests of MGM and Caesars to keep the alcohol flowing, and all of the profit that comes from that.

MJ should translate to an increase in gaming previous for various cognitive reasons.

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#88
post #72

Earlier quoted context omitted.

They're also basically killing any locals going with the cost of concessions and probably driving a lot of people to just not spend any money there. At $40 for a double shot and $20 for a beer, I'd be drinking before I got to the venue if that were my thing. https://www.outkick.com/drink-prices-vegas-sphere-beer-liquo...

That's nearly Ibiza prices.... which is OK if everyone is doing the same thing (well, I say OK, you know what I mean). But if there's any other option, no-one's going there. I've only been once to Vegas, but I don't remember it being pricy.

> I don't remember it being pricy

You clearly haven’t been there in the last few years. $16 for a beer is the norm at clubs and bars if you’re not gambling.

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#89
post #72

I gotta be honest, I'm not sure what was expected? They spent $2b building this thing, it's brand new tech, it didn't host many shows last quarter (it was open for 1? full month of the quarter). I still think The Sphere is super damn cool and I can't wait to go to an event there.

They're also basically killing any locals going with the cost of concessions and probably driving a lot of people to just not spend any money there. At $40 for a double shot and $20 for a beer, I'd be drinking before I got to the venue if that were my thing. https://www.outkick.com/drink-prices-vegas-sphere-beer-liquo...

It's the Strip, I'd assume you were pretty buzzed before you rolled up. That's probably part of the math here.

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#90
post #89
post #72

Earlier quoted context omitted.

They're also basically killing any locals going with the cost of concessions and probably driving a lot of people to just not spend any money there. At $40 for a double shot and $20 for a beer, I'd be drinking before I got to the venue if that were my thing. https://www.outkick.com/drink-prices-vegas-sphere-beer-liquo...

It's the Strip, I'd assume you were pretty buzzed before you rolled up. That's probably part of the math here.

That doesn't make any sense. If you were already buzzed before going, then you would need a cheaper price to continue drinking, since you already have some in you. If you were dead sober and wanted to drink, then it makes sense to shell out the money.
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