The Sphere, the new spherical stadium located in Las Vegas, Nevada, which has attracted attention due to its innovative structure and technology, will not only earn income from the events held inside. In fact, the true return on the billion-dollar investment could come from abroad.
The stadium is already taking advantage of its façade to offer advertising opportunities and the costs of placing ads are no small feat. According to a report from the News 3 agency, the price for having one day of publication costs no more and no less than $450,000, while a week of advertising could reach $650,000.
"If you look at the absolute cost of advertising, it's expensive. 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," said Marla Royne Stafford, a marketing professor at UNLV's Lee Business School.
Stafford explained that a 30-second ad on television during the Super Bowl can cost around $7.5 million and the price does not include production. However, the price of The Sphere includes the production of a 90-second ad that would be carried out by the MSG design team.
Furthermore, Stafford clarified that this option is not for all companies because, although for some the price could be high, for others it is actually a quite profitable investment. “If you look at the budgets of some of these top companies, they're incredible. They're in the billions of dollars. So $450,000 or $650,000 for them is nothing. And when you look at what you're going to get, it doesn't look like a bad deal to me for some of these companies,” she said.
📍VEGAS
📷: Fly By Chicago pic.twitter.com/aXFW48Q4lF
— Sphere (@SphereVegas) October 1, 2023
The Sphere
The Sphere is a project that took four years to build and cost $2.3 billion. It became the largest spherical structure on the planet at 360 feet high and 516 feet wide.
However, possibly what draws the most attention is that its structure is made up of more than a million LED lights, which offers the opportunity to program images in a way that has possibly never been seen before.
Night 1 ✔️ pic.twitter.com/Vlu1pFAjSQ
— Sphere (@SphereVegas) September 30, 2023
