Deal in the Works to Bring THE WIZARD OF OZ to the Las Vegas Sphere
The 1939 film whose popularity has only grown, making OZ a big business worldwide, may soon get supersized.
The Sphere, Las Vegas', state-of-the-art concert venue renowned for its unparalleled visuals and haptic seating, is nearing a landmark deal with Warner Bros. to bring the 1939 film The Wizard of Oz to the venue. The New York Post reports that the beloved film will be converted into an 80-minute, digitally-enhanced sensory spectacle.
The transformation of the 102-minute Oscar-winning film, which originally cost $2.7 million to produce in 1939, will come with a hefty price tag. The Sphere is expected to invest $80 million to update the Judy Garland-led picture.
Currently, the Sphere is showcasing Postcard from Earth, a 55-minute film by director Darren Aronofsky, with ticket prices starting at $114.
Warner Bros. Discovery is reportedly set to receive approximately 5% of the gross profit from this venture.
Since its opening in September, the $2.3 billion Sphere has generated roughly $100 million in revenue. However, recent market fluctuations have seen Sphere's shares drop 15% over the past five trading days, from $44.64 to $38.12.
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