Sphere Entertainment's The Wizard of Oz has generated more than $500 million in ticket sales since opening in Las Vegas last year, giving the company a fresh sign of strong demand for its flagship attraction. More than 4 million tickets have been sold since the show debuted on August 28, 2025, Sphere said on Friday, and the company introduced new 4D effects including animatronic Winged Monkeys, themed scents, scented apples, fireworks, and Glinda Glitter. The milestone comes as investors debate whether demand for the show can remain strong into the final quarter of the year, with BTIG saying its data showed attendance and average ticket prices fell in the third quarter while October pricing trends have been mixed. The brokerage expects both measures to improve in the fourth quarter, which is seasonally stronger for Sphere, though analyst Tyler DiMatteo wrote that the key question is the convexity of the move between the two. DiMatteo called the Wizard of Oz business objectively a success over its first full year, while noting investors remain divided over near-term trends, with bears focused on ticketing data and a possible brief content air pocket and bulls looking to growth in sponsorships and potential new Sphere venues and content. BTIG maintained its Buy rating and $190 price target, implying about 34.6% upside from the stock's last close.
Sphere Entertainment Co.The Wizard of Oz topped $500 million in ticket sales with over 4 million tickets sold, a concrete sign of strong end-customer demand for Sphere's flagship attraction.
