Sphere Entertainment Co. reported an 11% year-on-year rise in revenue to $313.6 million (£248 million) for the second quarter of 2026, driven by strong performance at its Las Vegas Sphere venue, though the company's overall losses widened significantly. The growth highlights the Sphere's continued success as a live entertainment draw, even as the company's regional sports television arm, MSG Networks, keeps losing subscribers and revenue, dragging down group profitability despite the flagship venue's gains.

The operating loss grew 22% to $61.3 million, while adjusted operating income fell 17% to $50.9 million, and the company swung to a net loss of $38.8 million, compared with net income of $151.8 million a year earlier (the prior year had been boosted by a one-off $346.1 million debt gain). The Sphere segment itself generated $226.4 million in revenue, up 29%, helped by higher takings from The Wizard of Oz at Sphere, though it still posted a $69.6 million operating loss on paper. MSG Networks, by contrast, saw revenue drop 18% to $87.3 million amid a roughly 16.5% subscriber decline, a fall that more than offset Sphere's gains and dragged down the group's adjusted operating income. CEO James Dolan said the company remains on track for "substantial growth" this year and is pursuing further Sphere venues in Abu Dhabi and National Harbor.