The legendary band U2 is set to make at least $1 million per show at the MSG Sphere.
U2 is set to make massive money
U2 plans to open its “U2: UV Achtung Baby” production in Las Vegas this fall, the dates expected to be Sept. 29-30. The series (a launch and not a residency) will run six non-consecutive weekends, 12 shows total.
According to published reports, and those familiar with the band’s plans, U2 will earn 90 percent of the face value of tickets sold, which is expected to clear at least $1 million per performance and $12 million overall. And that is a very safe, conservative assessment.
By comparison, Adele has reportedly commanded $1.2 million per show at the Colosseum, Bruno Mars $1 million per show at Dolby Live, and Lady Gaga $800,000 per show, also at Dolby Live. U2 should surpass all those superstars in per-show earnings.
With an average face-value price of, say, $100 per ticket at the Sphere’s 17,500-seat capacity, U2 would make $1,575,000 gross per show. $500 for seats in the front to $100 at the back is expected. If U2 sells out at those price points, the band’s take could easily double or even triple.
Those figures are applied to tickets sold by Ticketmaster, not listed by secondary brokers. So, the band would not get a percentage of a ticket listed at (for example) $15,000 on StubHub.
But predicting what fans will pay through the Ticketmaster Verified Fan process is similar to figuring out what room rates on the Strip will be over a given weekend. Dynamic prices adjust according to market demand.
It is noted that in this arrangement, the Sphere would keep the remaining 10-percent of face-value ticket revenue, most of the service and handling fees on every ticket. That figure would be very lucrative for a show that would sell out every night. The venue would also collect a healthy percentage of merchandise sales.