Leaked sales pitch reveales the shocking cost to advertise at sphere in las vegas
The Sphere is years in the making with a hefty price tag of $2.3 Billion. CEO James Dolan would surely like to start making that money back.
According to an agency pitch deck, a one-week campaign could cost $650,000. A one-day campaign will cost $450,000. A representative with the agency confirmed the Sphere provided those numbers.
“If you look at the absolute cost of advertising, it's expensive,” said Marla Royne Stafford, a professor of marketing at UNLV’s Lee Business School. “But when you look at the relative cost of advertising, and how much it's going to cost to reach each person, or each individual, it's actually not super expensive.”
According to the Sphere’s pitch deck materials, the $650,000 or $450,000 price tag will include the production of a 90-second spot created by their creative team.
Too high or low?
Do you get a discount for dead pixels appearing in ads?
A user replied: 'They are booked daily. And 4,000 days is like what, 13 years? That's like the breakeven point for solar panels.'
One calculated: '$2.3 billion ÷ $450k ÷ 365 = 14 yrs - So it'll take 14 yrs for them to pay back the $2.3 billion?... I'm being overly simplistic obviously.'
“We’re thrilled to have the innovative and imaginative DreamWorks Animation be the first movie studio to collaborate on a bespoke marketing campaign for the Exosphere,” said David Hopkinson, President and Chief Operating Officer of MSG Sports, who oversees brand partnerships across Sphere Entertainment. “The Exosphere’s larger-than-life canvas has become the premier platform for brands looking to tell their stories on an unparalleled scale, reaching audiences across the globe from the heart of Las Vegas.”
The Sphere is ballin’ out
Just weeks after the Sphere opened to a roaring Vegas success, the company behind the $2.3 billion immersive entertainment venue will debut in a different way tonight in Madison Square Garden.
Madison Square Garden Sports, the parent company of the New York Knicks, announced yesterday that Sphere Entertainment (another MSG Sports subsidiary) will be the NBA team’s jersey sponsor for the 2023–2024 season. For James Dolan, that’s tantamount to free advertising—he owns all three entities.
