The MSG Las Vegas Sphere
Concert Marvel or Costly Ad Space? Dive into leaked rates and see if the hype is worth your marketing dollar.
by Brendan Shelper
The Las Vegas skyline has a new jewel – the MSG Sphere. This mammoth LED spherical structure not only serves as a state-of-the-art concert venue but also as a high-profile advertising medium. But with its hefty price tag, is it a worthy investment for marketers?
We’ve seen a lot of chatter on the leaked costs of the daily advertising rates and whilst the costs are staggering, we thought it’s interesting to dive a bit deeper and look at other mediums and compare the related expenses.
Comparative costs for the MSG Sphere
For many, the price tag might induce a mild gasp, the Sphere’s advertising costs run at $450k per day or $650k per week. When considering traditional billboards in premium locations, which can range from $40k to 4M per month in cities like New York, the Sphere is substantially pricier. However, when compared to a 30-second Super Bowl commercial, which can cost upwards of $5 million (as of 2022), the Sphere offers seven days of exposure for a fraction of the cost. Let’s compare:
Traditional Billboards: In prime locations, these can cost between $1,500 to $30,000 per month, with millions potentially seeing the billboard, but without the precision of digital metrics.
Social Media Advertising: Major platforms like Facebook or Instagram can offer CPM (Cost Per Thousand Impressions) rates that vary between $5 to $15 for targeted ads. This means, at the higher end, you’re paying $15 for 1,000 impressions. (Source Business of Apps)
– Procedure: Showing QR code, ID, receiving wristbands and some event giveaways
Google Ads: The average CPM on Google’s Display Network is roughly $2.80.
Reach & Impressions for the MSG Sphere
The Sphere claims 300,000 live views and a staggering 4 million online impressions for the investment. These numbers are significant. To put this in perspective, a popular TV show might draw 10 million viewers, but this is for a one-time, 30-second spot.
The Sphere offers continuous exposure, potentially multiplying its impression count, especially when considering the virality factor of such a unique advertising medium on social platforms.
Is Working with the MSG Sphere Worth the Investment?
The answer to this question depends on the marketer’s objectives. If brand visibility in a high-traffic, iconic location is a priority, and the budget allows, the Sphere could offer unmatched prominence. However, for those looking for more targeted, conversion-driven advertising, platforms like Google Ads or Facebook Ads, which offer detailed targeting and metrics, might be more cost-effective.
The MSG Sphere’s online CPM is significantly higher than these platforms. However, it offers something different: a blend of physical and digital presence, massive scale, and a unique viewer experience.
Not to mention The ‘Cool Factor’. Associating with a venue that’s at the pinnacle of modern entertainment? Priceless for brands seeking the ultimate buzz.
Brands must decide if the unique amalgamation of digital and physical advertisement, coupled with the iconic backdrop of Las Vegas, adds value beyond the raw metrics. For luxury brands or those launching a high-profile product, the Sphere offers unparalleled grandeur and spectacle.
Maximizing the potential of the MSG Sphere
Marketers considering the Sphere could:
1. Leverage its Uniqueness: Creating content tailored to the Sphere’s unique structure can make ads more engaging and shareable, increasing the chance of virality. As time goes on, campaigns will need to be more and more inventive with the use of the spherical surface.
2. Combine with Digital Campaigns: Use the Sphere as part of a larger campaign, directing viewers to online platforms for more interaction.
3. Push interactivity: Our staple for everything ‘consumer engagement’, drive shareability with UGC and give the audience part-control of the campaign.
4. Utilize the in-house Creative Team: The Sphere’s offer to use their creative team is an added advantage, ensuring the content is optimized for the structure and not repetitive. Push this valuable resource to create something truly bespoke for your brand.
The MSG Sphere is undoubtedly a game-changer in the world of advertising. Its visibility and grandeur make it a tempting option for big brands looking to make a splash. While its cost is high, its potential reach, both live and online, can justify the investment for those looking to maximize brand visibility on a grand scale. As with all advertising mediums, strategy is key, and the Sphere is no exception.
The MSG Sphere is undoubtedly a game-changer in the world of advertising. Its visibility and grandeur make it a tempting option for big brands looking to make a splash. While its cost is high, its potential reach, both live and online, can justify the investment for those looking to maximize brand visibility on a grand scale. As with all advertising mediums, strategy is key, and the Sphere is no exception.
1. Death Star from Star Wars
2. Wilson from Tom Hanks Castaway
3. Indiana Jones Boulder Chase
4. 3D Pac-Man
5. Miley Cyrus’ Wrecking Ball
6. BB-8 from Star Wars
7. EPCOT Center Ball
8. The bowling ball Elon Musk used to smash the window of the Cyber Truck
9. The Magic 8-Ball
10. Fishbowl featuring Finding Nemo
Some of our favourite posts on the topic this week:
https://www.reviewjournal.com/entertainment/arts-culture/how-one-comedian-went-viral-with-a-las-vegas-sphere-filter-2875425/
https://www.instagram.com/p/CyEeNpwvcaB/
https://7thsense.one/story/sphere-and-7thsense-partner-power-content-spheres-interior-and-exterior-led-displays
