James Dolan’s Las Vegas Sphere is in the market for a new headliner, with Beyonce as the prime candidate, but a hefty price tag may stand in the way, the New York Post reported.
According to the newspaper, Dolan, CEO of Sphere Entertainment, is in talks with Beyonce’s team to take over the residency at the Las Vegas Sphere after U2’s run concludes next year. Beyonce’s mother and manager, Tina Knowles, along with her husband Jay-Z, have previously toured the spherical venue situated behind the Venetian, as reported by The Post.
However, Beyonce’s team is reportedly requesting a $10 million budget to produce the high-tech video required for her residency, the same amount that U2 received. U2’s 36-date “U2:UV Achtung Baby” residency is set to end on February 18, with no other concerts scheduled at the Sphere thereafter.
Beyonce’s appeal and draw to the millennial audience make her a desirable candidate for the venue, as her previous “Renaissance World Tour” saw high demand for tickets, with even obstructed view seats selling for hundreds of dollars.
Despite the potential for the $10 million production fee, Dolan is unlikely to give up 90% of ticket sales, a deal that U2 reportedly cut as the inaugural act for the venue. This is especially true after Sphere Entertainment reported a loss of $98.4 million for the quarter ending September 30, following the departure of its chief financial officer.
Dolan remains optimistic about the future of the venue, expressing plans to host two residencies in the first half of 2024 and holding discussions with artists from various genres, including Paul McCartney, Bon Jovi, and Lady Gaga. The Eagles were previously rumored to have “locked in dates” at the Sphere, but no further developments have been reported.
The stock price for the Sphere was down slightly, trading at around $36 on Wednesday.