Creek Drive Capital's Kevin Mak introduces the business case for Sphere Entertainment $SPHR from Yet Another Value Podcast

Creek Drive Capital's Kevin Mak introduces the business case for Sphere Entertainment $SPHR

1 hour 12 minutes Posted Dec 22, 2023 at 5:53 pm.

] Introduction + Episode sponsor: Alphasense

] Sphere Entertainment Co. $SPHR and why it's interesting to Kevin

] Kevin's views on $MSGN and why that's relevant for $SPHR

] How Kevin values $SPHR

] More important from a revenue perspective: Residencies or Daily Airing of "Postcards"

] Sustainability of the movies at $SPHR / how much better is $SPHR than a quality IMAX?

] $SPHR customer demand

] $SPHR music residency economics / logistics / creating the buzz

] $SPHR customer draw as technology improves

] Outside revenue streams (ad revenue on outside of the Sphere) / cost to create an ad for the Sphere (Billboard comp) + economics of the Sphere

] Main difference between Kevin's $SPHR analysis and sell-side analyst targets

] Corporate governance and naming rights

] Capex

] Valuing the franchise model and pushback on multiple Sphere's how do you find the right markets for Sphere + why did London turn down the Sphere

] Convertible debt / $SPHR valuation

] $SPHR final thoughts

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Show notes

Kevin Mak, CFA, Founder of Creek Drive Capital and Teacher at Stanford University of a course called, Financial Trading Strategy, discusses his thesis on Sphere Entertainment Co. (NYSE: SPHR).

Link to Kevin's $SPHR thesis: https://drive.google.com/file/d/1_jGx22O8NWRlb8zZZmuqMwfa-Ae3Y55o/view

Twitter: https://twitter.com/KevinLMak

Chapters:

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