Professional
Added to YB: 2026-02-05
Pitch date: 2026-02-03
SPHR [neutral]
Sphere Entertainment Co.
+21.36%
current return
Author Info
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Company Info
Sphere Entertainment Co. operates as a live entertainment and media company in the United States. It operates through two segments, Sphere and MSG Networks.
Market Cap
$4.1B
Pitch Price
$95.00
Price Target
N/A
Dividend
N/A
EV/EBITDA
22.48
P/E
155.01
EV/Sales
3.71
Sector
Entertainment
Category
growth
The Lion's Roar - Outside the Box Investments | Q4 2025 Investor Letter - Sphere(SPHR)
SPHR (trimmed position): Wizard of Oz sold 1.6-1.7M tickets vs 1.2M through Nov, showing strong demand. Production costs falling from $100M (WoZ) to potentially $10M future films via AI/partnerships. Content monetizable across multiple venues expanding margins. Franchise model likely with PE partners building additional Spheres reducing construction costs. Unit economics improving significantly making future venues more attractive to municipalities.
Read full article (2 min)