ENTERTAINMENT SPHERE AND THE DEPARTMENT OF CULTURE AND TOURISM

NEW YORK and ABU DHABI, United Arab Emirates, October 15, 2024 /PRNewswire/ — Sphere Entertainment Co. (NYSE: SPHR) (“Sphere Entertainment”) and the Department of Culture and Tourism – Abu Dhabi (“DCT Abu Dhabi”) announced today that they will work together to bring the world’s second Sphere to Abu Dhabi, United Arab Emirates. This next-generation entertainment medium is expected to be a historic addition to this major international capital, elevating the entertainment offering for residents and visitors alike.

“Sphere’s vision has always included a global network of places, and today’s announcement is an important milestone toward that goal,” he said. James L. DolanExecutive Chairman and CEO of Sphere Entertainment. “Sphere is redefining live entertainment and expanding the reach of its transformative impact. “We are proud to collaborate with DCT Abu Dhabi to develop Sphere in their city.”

HE Mohamed Khalifa Al MubarakPresident of DCT Abu Dhabi, said: “We are excited to bring Esfera to Abu Dhabi in partnership with Sphere Entertainment, providing our residents and visitors with an extraordinary new form of entertainment. Sphere Abu Dhabi will seamlessly integrate advanced technology with captivating storytelling, creating unforgettable memories for all who visit. This partnership aligns with our 2030 Tourism Strategy, further establishing Abu Dhabi as a vibrant center for culture and innovation. By embracing cutting-edge entertainment like Sphere, we are not only raising our global profile but also setting new standards in immersive experiences and cultural offerings.”

Since the opening of the first Sphere in vegas globally acclaimed in September 2023Sphere Entertainment has actively pursued its plans to develop a global network of Sphere venues. This expansion is expected to provide significant growth potential and drive new revenue streams by leveraging Sphere Entertainment’s expertise, proprietary technology and original content.

Located in a privileged location in Abu Dhabi and echoing the scale of the Sphere with capacity for 20,000 people in vegasThis place promises to redefine entertainment in the region. sphere in Abu Dhabi It is expected to be a major year-round draw for residents and visitors alike from around the world, offering opportunities to experience events, concerts and shows like never before in an unforgettable and revolutionary environment.

Sphere Entertainment and DCT Abu Dhabi, the organization driving the growth of Abu Dhabi The culture and tourism sectors and the promotion of the city as a global destination have agreed to collaborate in the construction of the next Esfera headquarters in Abu Dhabiwhich will welcome more than 24 million visitors in 2023. Under the terms of the partnership, which is subject to the completion of definitive agreements, DCT Abu Dhabi will pay Sphere Entertainment a franchise initiation fee for the right to build the venue, using Sphere Entertainment’s proprietary technology. designs, technology and intellectual property. Construction will be funded by DCT Abu Dhabi, with Sphere Entertainment’s team of experts providing services related to the development, construction and pre-opening of the venue.

Following the opening of the venue, Sphere Entertainment plans to maintain ongoing agreements with DCT Abu Dhabi that are expected to include annual fees for creative and artistic content licensed by Sphere Entertainment, such as Sphere Experiences; use of Sphere’s trademark, patents, proprietary technology and intellectual property; and operational services related to site operations and technology, as well as commercial and strategic advisory support.

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About the dial
Sphere is a next-generation entertainment medium that is redefining the future of live entertainment. A place where leading artists, creators and technologists create extraordinary experiences that take storytelling to a new level and transport audiences to places both real and imagined. The venue hosts original Sphere experiences; concerts and residencies of the world’s most important artists; and top-notch tents and corporate events. The first Esfera venue was inaugurated in vegas in September 2023and it’s a new vegas milestone, powered by cutting-edge technologies that ignite the senses and allow audiences to share experiences on a scale never seen before. rmation is available at thesphere.com.

About Sphere Entertainment Co.
Sphere Entertainment Co. is a leading live entertainment and media company. The Company includes Sphere, a next-generation entertainment media powered by cutting-edge technologies to redefine the future of entertainment. The first Esfera venue was inaugurated in vegas in September 2023. Additionally, the Company includes MSG Networks, which operates two regional sports and entertainment networks, MSG Network and MSG Sportsnet, as well as an authenticated, direct-to-consumer streaming product, MSG+, which offers a wide range of live sports and other content. . programming. rmation is available at sphereentertainmentco.com.

About the Department of Culture and Tourism – Abu Dhabi
The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) drives sustainable growth of Abu Dhabi culture and tourism sectors and their creative industries, driving economic progress and helping to achieve Abu Dhabi broader global ambitions.

Working in partnership with the organizations that define the emirate’s position as a leading international destination, DCT Abu Dhabi strives to unite the ecosystem around a shared vision of the emirate’s potential, coordinate efforts and investments, offer innovative solutions and utilize the best tools. policies and systems to support the culture and tourism industries.

DCT Abu Dhabi’s vision is defined by the people, heritage and landscape of the emirate. We work to improve Abu Dhabi status as a place of authenticity, innovation and unparalleled experiences, represented by its living traditions of hospitality, pioneering initiatives and creative thinking.

Forward-looking statements
This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Sphere Entertainment’s plans, strategies, beliefs and expectations. Investors are cautioned that such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results, developments or events may differ materially from those in the forward-looking statements as a result of various factors. including the completion of definitive agreements with DCT Abu Dhabi and factors described in Sphere Entertainment’s filings with the United States Securities and Exchange Commission, including sections titled “Risk Factors” and “Management’s Discussion and Analysis.” the financial condition and results of operations” contained herein. Sphere Entertainment disclaims any obligation to update any forward-looking statements contained herein.

Contacts:

For spherical entertainment: [email protected]
For DCT Abu Dhabi: [email protected]

SOURCE Esfera Entertainment Co.