Sphere, the monumental $2.3 billion project in Las Vegas, is set to begin recouping its investment through advertising campaigns that promise to make waves in the industry. CEO James Dolan is looking beyond concerts, movies, and performances hosted within the Sphere, focusing on external advertising as the real return on investment.
According to a pitch deck reviewed by local media outfit News 3, a week-long campaign on the Sphere’s massive LED screen will cost $650,000, while a one-day campaign comes in at $450,000, including the production of a 90-second spot by their creative team.
Comparatively, the cost of a 30-second Super Bowl TV ad in 2024 will be approximately $7.5 million, excluding production expenses. In contrast, Sphere’s advertising packages offer 276 appearances and over seven hours of airtime per week in a one-week flight, along with a four-hour, 50% takeover on a chosen date. A one-day flight provides a four-hour, 50% takeover of screen time.
While it seems unbelievably steep, the iconic structure’s target advertisers are the world’s top spenders with budgets for new, exciting spaces and initiatives just like Sphere.
The structure boasts the largest LED screen on Earth, spanning 580,000 square feet with 1.2 million LED pucks. It has already demonstrated its advertising prowess with promotions for various shows and movies. Most notably, DreamWorks Animation recently launched a brand campaign designed specifically for the Sphere, heralding a new era in movie studio advertising.
Sphere officially opened to the public through an event that kicked off U2’s 25-show residency on September 30. “Postcard From Earth,” the new film by Darren Aronofsky will premiere on October 6. It was created specifically for Sphere and will offer a unique cinematic experience within its remarkable interior.
Information for this story was found via KSNV News 3, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.