Sphere Entertainment Co. continues to lose money, but executives Thursday outlined how it plans to achieve profitability in its first-quarter earnings call.

Executive Chairman and CEO James Dolan said a combination of initiatives is underway that he hopes would reverse current trends.

Without naming acts, Dolan said the pipeline of entertainers interested in performing at the 17,000-seat venue near The Venetian is full. He’s also interested in developing more Sphere venues worldwide, including smaller venues with similar technology in other markets, including domestically.

The Sphere and sister company MSG Networks reported a total operating loss of $78.6 million on revenue of $280.6 million for the quarter that ended March 31. A year ago in the same quarter, the company lost $40.4 million on revenue of $321.3 million.

The company last year announced the next Sphere would be built in the United Arab Emirates in a partnership with the Department of Culture and Tourism-Abu Dhabi, known as DCT Abu Dhabi.

The company attributed some of the decline to a tough comparison with 2024 when Las Vegas hosted Super Bowl 58 and the exosphere capitalized with several Super Bowl advertisements.

“We are focused on creating a diverse slate of original content for this new medium,” Dolan told investors. “This past quarter, we welcomed over half a million guests to the Sphere Experience, bringing total revenues for our original content category to over $500 million since its debut in October of 2023. These results continue to demonstrate the importance of original content to Sphere’s business model.”

In addition to producing concert films, including “V-U2: An Immersive Concert Film” featuring the Sphere’s initial residency of U2, and “Postcard from Earth,” Daron Aronofsky’s science fiction account that demonstrated the Sphere’s capabilities, Dolan said more original content is in production. He also hinted that ticket prices would be going up.

Last month, Sphere officials began detailing plans for a presentation of “The Wizard of Oz” with an amped-up presentation of the classic film.

“Well, ‘Postcards from Earth’ was what we call around here, our first pancake,” Dolan said. “So, yes, we’re expecting the second pancake to be better. Maybe we’ll add some blueberries in. But, I think both productions take better advantage of the medium, are going to be more experiential, more impactful, and so therefore a better product. And along with a better product, yes, comes probably higher ticket prices.”

Dolan said Sphere is diversifying the types of acts that are performing live and that groups and singers he’s been in contact with like the fact that they can get tour audiences without actually going on the road.

“We’re also making progress in attracting a variety of music genres to the Sphere this year, including our first country and pop residencies,” Dolan said. “Due to strong consumer demand, we have routinely seen acts add shows at the venue. For example, both Dead & Company and the Eagles are on pace for over 40 performances at the Sphere, the equivalent of a national arena tour.”

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