Media Networks Revenues was Sphere Entertainment’s largest segment in fiscal 2025, bringing in $438.63M of $1.16B (38%).
| Segment | FY 2018 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| Media Related, Primarily From Affiliation Agreements | $596.03M | $558.36M | — | — | $431.48M | ||
| Event-Related | — | — | $420.33M | — | — | ||
| Media Networks Revenues | — | — | — | $240.11M | $438.63M | ||
| Ticketing & Venue License Fee Revenues | — | — | $335.33M | $207.02M | — | ||
| Sponsorship & Signage, Suite, And Advertising Commission / Agency Revenues | — | — | — | — | — | ||
| Event-Related & Entertainment Dining And Nightlife Offerings | — | — | — | — | — | ||
| Food, Beverage & Merchandise Revenues | — | — | — | — | $100.40M | ||
| Sponsorship, Signage, Exosphere Advertising, & Suite License Revenues | $6.47M | $6.99M | $158.23M | $29.45M | $165.84M | ||
| Other | $5.65M | $5.87M | $10.87M | $14.72M | $22.23M | ||
| Signage | — | — | — | — | — | ||
| Total | $608.16M | $571.22M | $924.75M | $491.31M | $1.16B |
Sphere Entertainment brought in $1.16B from its five segments in fiscal 2025, the year ended December 31, 2025. Sphere Entertainment regrouped these segments after fiscal 2024, so the total does not compare directly with that year's $491.31M. Media Networks Revenues was the largest at $438.63M (37.9%), ahead of Media Related, Primarily From Affiliation Agreements at $431.48M (37.2%) and Sponsorship, Signage, Exosphere Advertising, & Suite License Revenues at $165.84M (14.3%). The other two segments brought in $122.63M combined.
Compared with fiscal 2024, Sponsorship, Signage, Exosphere Advertising, & Suite License Revenues grew 463.1% to $165.84M and Media Networks Revenues grew 82.7% to $438.63M.
Sphere Entertainment began breaking out Media Networks Revenues in fiscal 2024, when it brought in $240.11M. Sphere Entertainment stopped reporting Event-Related ($420.33M in fiscal 2024) and Ticketing & Venue License Fee Revenues ($207.02M in fiscal 2024) as separate segments.
Sphere was Sphere Entertainment’s largest segment in fiscal 2025, bringing in $583.04M of $1.01B (57%).
| Statement Business Segments | FY 2018 | FY 2019 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Entertainment | — | — | — | — | — | |||
| Msg Networks | $596.03M | $558.36M | $521.61M | $242.22M | $431.48M | |||
| Sphere | — | — | $404.20M | $219.64M | $583.04M | |||
| Tao Group Hospitality | — | — | — | — | — | |||
| Total | $596.03M | $558.36M | $925.82M | $461.86M | $1.01B |
Sphere Entertainment brought in $1.01B from its two segments in fiscal 2025, the year ended December 31, 2025. That is less than the $1.16B it reports by segment, so these segments do not cover all of its revenue. Sphere was the largest at $583.04M (57.5%), ahead of Msg Networks at $431.48M (42.5%).
Compared with fiscal 2024, Sphere grew 165.5% to $583.04M and Msg Networks grew 78.1% to $431.48M.
Sphere Entertainment began breaking out Sphere in fiscal 2024, when it brought in $404.20M.
Transferred Over Time was Sphere Entertainment’s largest revenue line in fiscal 2025, bringing in $689.25M of $711.49M (97%).
| Timing of Transfer of Good or Service | FY 2019 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| Transferred Over Time | $596.03M | $558.36M | $521.61M | $253.31M | $689.25M | ||
| Transferred At Point In Time | $5.65M | $5.87M | $10.87M | $14.72M | $22.23M | ||
| Total | $601.69M | $564.23M | $532.48M | $268.03M | $711.49M |
Sphere Entertainment brought in $711.49M from its two revenue lines in fiscal 2025, the year ended December 31, 2025. That is less than the $1.16B it reports by segment, so these revenue lines do not cover all of its revenue. Transferred Over Time was the largest at $689.25M (96.9%), ahead of Transferred At Point In Time at $22.23M (3.1%).
Compared with fiscal 2024, Transferred Over Time grew 172.1% to $689.25M and Transferred At Point In Time grew 51.0% to $22.23M.
Sphere Entertainment (SPHR) reports its revenue by segment, by statement business segments and by timing of transfer of good or service. In fiscal 2025, Media Networks Revenues was its largest segment, bringing in $438.63M (37.9% of the total), followed by Media Related, Primarily From Affiliation Agreements at $431.48M (37.2%).
Media Networks Revenues was Sphere Entertainment's largest segment in fiscal 2025, bringing in $438.63M, or 37.9% of the $1.16B total across its five segments.
Transferred Over Time was Sphere Entertainment's largest revenue line in fiscal 2025, bringing in $689.25M, or 96.9% of the $711.49M total across its two revenue lines.
Sphere grew faster than Msg Networks in fiscal 2025, up 165.5% from $219.64M to $583.04M. Msg Networks grew 78.1% to $431.48M.
Every figure comes from Sphere Entertainment's annual financial filings, as reported. Each line keeps the name Sphere Entertainment gives it, and years follow its fiscal calendar.
Sphere Entertainment's revenue by segment goes back to fiscal 2018, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.