How do you top a juggernaut like the reimagined “The Wizard of Oz” at the Las Vegas Sphere? With an even more reimagined version!

Some version of “The Wizard of Oz” could be running at the Vegas Sphere 10 years from now. (Image: Sphere Entertainment)

On Sphere Entertainment’s third-quarter earnings call on November 4, executive chairman and CEO James Dolan hinted that “an enhanced version” of the hit immersive show might launch on August 28, 2026 — marking the year anniversary of the original’s premiere. The updated update would include new features, though Dolan kept specifics characteristically vague.

“We might take you for a ride on a witch’s broom during the show,” he said. “How much more life that will breathe into ‘Wizard of Oz,’ I’m not really sure, but I think it might be pretty good.”

Dolan was not asked by investors how such a broom ride might work, but AI-rendered additional footage from the Wicked Witch’s point of view are a good bet.

Sphere Segment Surges, Losses Shrink

Thanks largely to “Oz,” the Sphere segment of Sphere Entertainment — the parent company that also includes the MSG Network — posted $174.1 million in revenue for Q3 2025. That’s a 37% increase over the same quarter last year. That growth was driven by:

• “The Wizard of Oz,” which surpassed 1 million tickets sold and $130 million in sales by mid-October
• Expanded concert residencies, including the Eagles and Backstreet Boys
• Additional Sphere advertising and sponsorship deals

Despite the revenue surge, the Sphere segment still posted an operating loss of $84.4 million, though that’s a 32% improvement from its $125.1 million loss in Q3 2024.

Dolan made it clear he won’t rush out a new “Oz” until demand for the current one dips off.

“That could be a lot longer than a year,” he said. “When you look at shows like ‘O,’ there was a huge capital investment in the beginning, and they’re just, they’re running it out.”

He added that some form of “Oz” could run for a decade, citing the longevity of Las Vegas staples and the Sphere’s ability to stack multiple events per day.

“It wouldn’t surprise me,” he said.

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