Information reaching Kossyderrickent has it that Americans react as Journalist PitchDeskGuy confirmed The Las Vegas MSG sphere reportedly charges $450K per day in advertising…
The hefty advertising rates for the MSG Sphere have been leaked.
The Las Vegas stadium – which cost $3.6 billion (US$4 billion) to build – flaunts interior and exterior LED displays.
With about 1600 speakers, the venue will be used for sport, film and music events.
According to a Twitter post from @PitchDeckGuy, $704,000 (US$450,000) was spent on advertising costs over just one day for the Vegas Sphere.
The post reported that $1 million (US$650,000) was spent for the whole week.
A thread from another Twitter user added that there was an estimated 4.7 million daily impressions – 300,000 in person and the remaining 4.4 million on social for the Sphere. ‘Too high or low?’ asked one, prompting a range of responses.
‘Given how many views the sphere has gotten, this seems like a pretty good deal,’ said one
Taking the construction costs into consideration, another asked: ‘How would they recover the investment? It will take almost 4000+ days even if they are booked daily.’
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.’
And someone else quipped: ‘Do you get a discount for dead pixels appearing in ads?’ Now officially called The Sphere at the Venetian Resort, the project was announced in 2018, in collaboration with Madison Square Garden, and construction got underway in February 2019. However, work was put on hold several times in 2020 due to the COVID-19 pandemic, and finally resumed in August of that year.
The eventual price tag for the building came to an estimated $2.3 billion.
So MSG clearly has some costs to recoup.
X (formerly known as Twitter) user PitchDeckGuy alleged this week that the Sphere is charging $450,000 for just one day of advertising.
And if you want to increase your coverage to a week, he claimed that cost goes up to $650,000. Another X user, Joe Pompliano, shared the tweet, adding more detail about what you get might for your advertising dollars, saying the prices ‘include working with MSG’s 300+ designers.’
It’s unclear how much U2 spent to advertise their 25-day residency.
Thousands of fans and celebrities attended the opening night, including Paul McCartney, Josh Duhamel, and Oprah Winfrey.
According to PitchDeskGuy’s post, U2’s residency is a ‘key in-market event’ – meaning it’s already hugely popular and is attracting an enormous amount of consumer interest. Other similar events include the 2023 Formula One Las Vegas Grand Prix.
U2 confirmed the initial dates for the shows back in May 2023 – their first live performances since 2019.
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