Dream Wired
No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
No Result
View All Result
Dream Wired
No Result
View All Result
Home Music

U2 Sphere Shows Made $30M for Sphere Entertainment – Billboard

rmtsa by rmtsa
December 6, 2023
in Music
0
U2 Sphere Shows Made M for Sphere Entertainment – Billboard
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


You might also like

Jennifer Lopez Reacts to Wardrobe Malfunction on Stage in Poland

Bleachers Jam With Hayley Williams, Maren Morris At Newport Folk

Nino Paid Arrested for Stealing a Vehicle, Arrest Photo Viral

Sphere Entertainment provided the first inside glimpse at the finances of James Dolan‘s $2 billion Sphere project in Las Vegas in a new Securities and Exchange Commission filing on Tuesday (Dec. 5).

Spun off from Madison Square Garden Entertainment in April and now trading on the NYSE as SPHR, the company is expected to report positive adjusted income this quarter thanks to the opening of the venue and a successful run of shows including U2:UV’s Achtung Baby Live At Sphere.

According to Billboard Boxscore, U2‘s 17-show run beginning in September at Sphere generated nearly $110 million in ticket sales. The SEC filing notes that those shows generated a total of $30.7 million in revenue for Sphere Entertainment through Nov. 30. Meanwhile, Sphere Entertainment’s own content offering, Darren Aronofsky’s Postcard from Earth, has generated approximately $44.5 million in total revenue from ticket sales from 111 showings.

U2 played its first show at Sphere on Sept. 29, 2023, kicking off a multi-month run at the venue. Due to the strong demand, 15 more shows have been added in January, February and March 2024, bringing the band’s planned number of performances to 40.

Also in the SEC filing, the company announced plans to raise money through the sale of $225 million in convertible senior notes that are due to mature in 2028, as well as the option for purchasers to buy an additional $33.75 million in notes.

Sphere Entertainment plans to use a portion of the proceeds from the notes sale to fund capped call transactions designed to reduce the potential dilution of its common stock from the conversion of debt into equity. The remainder of the net proceeds will be used for general corporate purposes, including capital for Sphere-related growth initiatives, according to a release announcing the offering. The initial conversion rate, interest rate and certain other terms of the notes will be negotiated between Sphere Entertainment and the initial purchasers.

Sphere Entertainment began the quarter (starting Sept. 30) with $433.5 million in cash on hand, with $123 million coming from advance ticket sales. The principal balance of the company’s total debt at the beginning of the quarter was approximately $1.2 billion, including $932.3 million of debt under the MSGN Credit Facilities. Under the terms of the MSGN deal, $103.1 million in required quarterly amortization payments are due between Sept. 30, 2023, and Oct. 11, 2024.

Shares of Sphere Entertainment dropped nearly 20% in trading after the company announced the debt offering, but bounced back slightly and were down 15.5% to $28.41 at the market’s close.



Source link

Tags: 30MBillboardEntertainmentShowsSphere
Share30Tweet19
rmtsa

rmtsa

Recommended For You

Jennifer Lopez Reacts to Wardrobe Malfunction on Stage in Poland

by rmtsa
July 28, 2025
0
Jennifer Lopez Reacts to Wardrobe Malfunction on Stage in Poland

Jennifer Lopez faced a wardrobe malfunction that left her on stage in her underwear at a concert in Warsaw, Poland, on Friday night (July 25) — by shrugging...

Read more

Bleachers Jam With Hayley Williams, Maren Morris At Newport Folk

by rmtsa
July 27, 2025
0
Bleachers Jam With Hayley Williams, Maren Morris At Newport Folk

Jack Antonoff and Bleachers rolled out a host of high-profile guests last night (July 25) during their closing set at the Newport Folk Festival, including Paramore’s Hayley Williams...

Read more

Nino Paid Arrested for Stealing a Vehicle, Arrest Photo Viral

by rmtsa
July 27, 2025
0
Nino Paid Arrested for Stealing a Vehicle, Arrest Photo Viral

Nino Paid was arrested in Maryland yesterday for stealing a vehicle.Nino Paid Arrested in MarylandOn Thursday (July 24), a photo of Nino being taken into custody went viral on...

Read more

5 Artists You Can't Miss at VELD Music Festival 2025

by rmtsa
July 27, 2025
0
5 Artists You Can't Miss at VELD Music Festival 2025

When VELD Music Festival descends on Toronto in less than one week, Downsview Park will transform into a playground for dance music's elite.With a lineup that fuses the...

Read more

Today’s 8 Most Important Anniversaries

by rmtsa
July 27, 2025
0
Today’s 8 Most Important Anniversaries

July 26 marks important anniversaries for many of rock's biggest stars, although the occasions are much happier for some than for others.Happy Birthday to Mick JaggerLet's start with...

Read more
Next Post
Taylor Sheridan’s Ranch Sues Cole Hauser’s Coffee Brand

Taylor Sheridan’s Ranch Sues Cole Hauser’s Coffee Brand

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized

CATEGORIES

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized
No Result
View All Result

Recent News

  • New Trailer For The 4K Release of SHIN GODZILLA — GeekTyrant
  • Christopher Chaos: Children of the Night #2 Preview: Hyde and Seek
  • Inside Dexter’s Serial Killer Dinner With Krysten Ritter and Eric Stonestreet

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In