Sphere Entertainment Co.

Good morning and thank you for standing by. Welcome to the Sphere Entertainment Company first quarter 2025 earnings conference call. At this time, all participants are in a 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 entertainments fiscal 2025 first quarter earnings conference call. today's call we will begin with our executive chairman and CEO Jim dole will provide an update on the business. Robert Langer 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 filing for 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. Today, we reported positive adjusted operating income in the March quarter for the sphere segment. And as we look ahead, we're confident that we can continue to drive growth this calendar year. We will get there by executing on the priorities we have previously outlined. These include hosting an array of concerts and other third-party events, optimizing the go-to-market strategy for the exosphere and sponsorships, and driving operational and cost efficiencies across our business. We are also focused on creating a diverse slate of original content for this new medium. This past quarter, we welcomed over half a million guests to the Sphere Experience, bringing total revenues for our original content category to over $500 million since its debut in October of 23. These results continue to demonstrate the importance of original content to Sphere's business model. We have multiple projects in development, and we remain on track to debut our next Sphere experience this year. We're also making progress in attracting a variety of music genres to the Sphere this year, including our first country and pop residencies. Due to strong consumer demand, we have routinely seen acts at shows at the venue. For example, both Dead & Company and the Eagles are on pace for over 40 performances at the Sphere. the equivalent of a national arena tours. In addition, Sphere is gaining traction as a platform for brands. This includes corporate takeovers of the venue. For example, this past January, during CES, we hosted a keynote event from Delta Airlines. We also recently announced new marketing partnerships with Pepsi and Google. Both of these agreements include significant exposure on the ExoSphere, which has continued to see strong overall demand. Turning to MSG Networks, last month MSG Networks and its lenders agreed to reduce and restructure its existing debt obligations. The proposed transaction would also see the Nixon Rangers reduce their local rights fees with MSG Networks. All parties have agreed to work together to support and finalize the transactions by June 27th. And with that, I would like to turn the call over to Robert.