Sphere Entertainment SPHR Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Total revenues from contracts with customers by Business | ||||||
| MSG Networks | $120.45M+0.3% | $120.09M+35.8% | $88.42M-17.4% | $107.09M-13.0% | $123.03M-21.0% | |
| Sphere | $265.97M-3.0% | $274.19M+57.5% | $174.09M-0.9% | $175.59M+11.5% | $157.55M+225% | |
| Revenues from subleases by Business | ||||||
| MSG Networks | $0— | $0— | $0— | $0— | $0— | |
| Sphere | $439K-0.2% | $440K+0.2% | $439K0.0% | $439K-12.9% | $504K-30.3% | |
| Operating Income (Loss) by Business | ||||||
| MSG Networks | $32.09M-9.5% | $35.43M+178% | -$45.28M-236% | $33.29M+120% | $15.15M+114% | |
| Sphere | -$24.88M-282% | -$6.51M+92.3% | -$84.43M-1.2% | -$83.45M+11.0% | -$93.76M+43.9% | |
| Adjusted Operating Income (Loss) by Business | ||||||
| MSG Networks | $35.69M-7.6% | $38.63M+100% | $19.3M-47.2% | $36.52M+60.0% | $22.82M-50.8% | |
| Sphere | $74.29M-16.9% | $89.4M+424% | $17.07M-31.6% | $24.95M+89.8% | $13.15M+260% | |
| Other segment expenses by Business | ||||||
| MSG Networks | $2.83M-9.2% | $3.12M-95.4% | $68.46M+3,012% | $2.2M-1.1% | $2.22M-96.2% | |
| Sphere | $85.03M+1.3% | $83.95M-3.6% | $87.09M+0.9% | $86.3M+2.3% | $84.37M-33.1% | |
| Impairment And Other Gain (Loss), Net by Business | ||||||
| MSG Networks | $0— | $0+100% | -$65.4M— | $0— | $0+100% | |
| Sphere | -$79K+51.2% | -$162K-184% | -$57K+98.4% | -$3.64M-599% | -$521K— | |
| Merger, debt work-out, and acquisition related costs, net of insurance recoveries by Business | ||||||
| MSG Networks | $0— | —— | —— | —— | $3.8M+232% | |
| Sphere | $87K— | —— | —— | —— | $988K+436% | |
| Other direct operating expenses by Business | ||||||
| MSG Networks | $0— | $0— | $0— | $0— | $0— | |
| Sphere | $4.8M-24.6% | $6.37M-10.6% | $7.12M+8.2% | $6.58M-18.1% | $8.04M+2,866% | |
| Interest Payments by Business | ||||||
| LV Sphere | $4.81M-23.6% | $6.3M-0.4% | $6.32M+0.1% | $6.32M+1.0% | $6.26M— | |
| MSG Networks | $3.38M-16.2% | $4.04M-21.9% | $5.17M-70.7% | $17.63M-5.0% | $18.56M— | |
| Share-based compensation expense by Business | ||||||
| MSG Networks | $767K— | $0+100% | -$3.88M-532% | $897K-45.3% | $1.64M— | |
| Sphere | $13.14M+32.0% | $9.96M-19.8% | $12.41M-30.9% | $17.95M-10.0% | $19.95M+1,057% | |
| Loan Principal Repayments by Business | ||||||
| LV Sphere | $0— | —— | —— | —— | $0— | |
| MSG Networks | $15.47M— | —— | —— | —— | $25M— | |
| Acquisitions by Business | ||||||
| MSG Networks | $0— | —— | —— | —— | —— | |
| Sphere | $0— | —— | —— | —— | —— | |
| Goodwill by Business | ||||||
| MSG Networks | $297.91M0.0% | $297.91M0.0% | $297.91M-18.0% | $363.31M0.0% | $363.31M0.0% | |
| Sphere | $46.86M0.0% | $46.86M0.0% | $46.86M0.0% | $46.86M0.0% | $46.86M0.0% | |
| D&A by Business | ||||||
| MSG Networks | $2.09M-0.9% | $2.11M+0.3% | $2.11M-4.3% | $2.2M-1.1% | $2.22M+24.0% | |
| Sphere | $82.27M+0.3% | $82.06M+0.1% | $82M+0.4% | $81.71M-0.4% | $82.01M+675% | |
| Event-related expenses by Business | ||||||
| MSG Networks | $0— | $0— | $0— | $0— | $0— | |
| Sphere | $94.43M+119% | -$491.19M-786% | $71.61M+2.6% | $69.77M+11.6% | $62.5M+121% | |
| Restructuring Charges by Business | ||||||
| MSG Networks | $741K-26.5% | $1.01M+5.9% | $952K— | $0— | $0— | |
| Sphere | $2.67M+54.4% | $1.73M-65.7% | $5.04M+432% | $947K-48.6% | $1.84M-51.5% | |
| Rights fee expense by Business | ||||||
| MSG Networks | $50.65M+114% | -$358.79M-850% | $47.87M+21.8% | $39.3M-41.5% | $67.15M+120% | |
| Sphere | $0— | $0— | $0— | $0— | $0— | |
| Other Commitment by Business | ||||||
| MSG Networks | $755.86M-6.7% | $810.14M-6.0% | $861.69M-6.0% | $916.52M— | —— | |
| Sphere | $28.23M-26.9% | $38.63M-6.0% | $41.09M-30.7% | $59.33M— | —— | |
| Amortization for capitalized cloud computing arrangement costs by Business | ||||||
| MSG Networks | $0— | $0— | $0— | $0— | $0-100% | |
| Sphere | $917K-41.9% | $1.58M0.0% | $1.58M0.0% | $1.58M0.0% | $1.58M0.0% | |
| Network programming and production costs by Business | ||||||
| MSG Networks | $19.78M+117% | -$113.93M-1,197% | $10.38M-33.7% | $15.66M-24.1% | $20.64M+124% | |
| Sphere | $0— | $0— | $0— | $0— | $0— | |
| Impairments by Business | ||||||
| MSG Networks | $0-100% | $61.2M-6.4% | $65.4M— | —— | —— | |
| Sphere | $0— | $0— | $0— | —— | —— | |
| Total revenues from contracts with customers by Product | ||||||
| Food, beverage, and merchandise revenues | $33.72M+22.1% | $27.61M+10.4% | $25.02M-10.3% | $27.88M+40.2% | $19.89M+213% | |
| Media networks revenues | $120.45M+0.3% | $120.09M+35.8% | $88.42M-17.4% | $107.09M-13.0% | $123.03M-21.0% | |
| Sponsorship, signage, Exosphere advertising, and suite license revenues | $27.07M-15.8% | $32.16M+87.1% | $17.19M-24.0% | $22.62M-6.4% | $24.17M+85.3% | |
| Ticketing and venue license fee revenues | $198.3M-6.0% | $211.02M+69.3% | $124.65M0.0% | $124.64M+16.1% | $107.33M+289% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Sphere Entertainment break its business down?
- Sphere Entertainment (SPHR) reports total revenues from contracts with customers by business across 2 parts — MSG Networks and Sphere. Each is extracted from the segment footnotes and tracked over time.
- Where does Sphere Entertainment's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Sphere Entertainment's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.