Sphere Entertainment Co.

Good morning. Thank you for standing by and welcome to the Sphere Entertainment fiscal 2024 fourth quarter and year-end earnings conference call. At this time, all participants are in listen-only mode. After the speaker's remarks, there will be a question and answer session. I would now like to turn the call over to Ari Daines, Investor Relations. Please go ahead.

Thank you. Good morning and welcome to Sphere Entertainment's fiscal 2024 fourth quarter and year-end earnings conference call. Today's call will begin with our Executive Chairman and CEO, Jim Dolan, who will provide an update on Sphere. Dave Burns, our Executive Vice President, Chief Financial Officer, and Treasurer, will then review our financial results for the period. After our prepared remarks, we will open up the call for questions. If you do not have a copy of today's earnings release, it is available in the investor section of our corporate website. Please take note of the following. Today's discussion may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Please refer to the company's filings with the SEC for a discussion of risks and uncertainties. The company disclaims any obligation to update any forward-looking statements that may be discussed during this call. On pages five and six of today's earnings release, we provide consolidated statements of operations and a reconciliation of operating income to adjusted operating income or AOI, a non-GAAP financial measure. And with that, I'll now turn the call over to Jim.

Thank you, Ari, and good morning, everyone. As we said from the start, we believe Sphere is a new medium that has the potential to change the entertainment landscape for artists, guests, and partners. Fully realizing that vision will take time, but we are learning every day how to optimize Sphere's operating model. And with the close of fiscal 2024, we are pleased to look back and see real progress across multiple fronts. Since Sphere opened last September, we have welcomed millions of guests hosted artists at blue chip companies, and featured numerous brands on the exosphere. Sphere has also become part of the global conversation with worldwide recognition and extensive press and social media coverage. Our plan for Sphere is to create widespread demand for our offerings and drive utilization far in excess of traditional venues. Our core component of that strategy is our content category. The Sphere experience which currently features postcards from Earth. This category, again, generated more than $1 million in average daily ticket sales in our fourth quarter. Since premiering in October, the Sphere experience has generated over $300 million in high margin revenue. These results reinforce our confidence in original content as a key economic engine for Sphere. We are actively developing new cinematic experiences and expect to launch our next attraction in the coming weeks. We believe this expanding content library will benefit our Las Vegas business and strengthen our value proposition to new markets. On the concert front, artists continue to benefit from the drawing power of Sphere. Dead & Company just completed their 30-show run on Saturday night. The Eagles kick off their residency next month with a 20-show run through January. And we recently announced that ANIMA will be our first EDM act with a multi-night run around New Year's. Both the Eagles and ANIMA have been extended multiple times due to demand. And next month in another purse, Sphere will host the UFC, which will be the first live sports event in the venue. We are also making progress towards our goal, hosting multiple event types on the same day. The SPHERE experience ran on the same day as Select, Ded, and Code concerts in July and August, and we believe that this had a positive impact on attendance for Postcards from Earth on those days. We also expect a similar schedule during the Eagles Run and our upcoming EDM shows. In addition, we are not standing still in terms of innovation. On July 4th, we marked the one-year anniversary of ExoSphere by launching two new features, an official live stream called ExoStream, which is available 24-7 on our website, and ExoAudio, custom audio synced to Exosphere content that is available both on-site and online via the live stream. We also welcome Verizon as the presenting partner of the live stream. We're pleased that the partners and advertisers continue to recognize the Exosphere as a high-impact platform for their brands. Finally, we remain focused on executing on our global vision for Sphere. Expansion discussions with international markets continue to progress, and we look forward to sharing more. So while we know it's still early days, we're positive about what we have achieved with Sphere, and we remain optimistic about what the future holds for this next generation medium. And with that, I'll now turn the call over to Dave.