SPHERE ENTERTAINMENT EXPANDS JENNIFER KOESTER'S ROLE TO PRESIDENT AND CHIEF OPERATING OFFICER, SPHERE

Rhea-AI Summary

Sphere Entertainment announced the expansion of Jennifer Koester's role to President and Chief Operating Officer of Sphere. Koester, who joined the company in February 2024 from Google, will now oversee Sphere Studios and lead strategic business initiatives across various entertainment categories. Her new responsibilities include maximizing venue utilization, driving strategic partnerships, and growing Sphere as a premium global brand. With 30 years of experience in technology, media, and entertainment, Koester brings a wealth of expertise to her expanded role.

Positive

• Jennifer Koester's extensive 30-year experience in technology, media, and entertainment.
• Strategic oversight for Sphere Studios in Burbank to develop multi-sensory experiences.
• Focus on maximizing venue utilization across original programming, attractions, concerts, residencies, and corporate events.
• Koester's previous strategic roles at Google, contributing to product strategy and revenue growth.
• Commitment to growing Sphere as a premium global brand.

Negative

• Potential challenges in managing and integrating multiple business functions.
• Risk of over-reliance on Koester's leadership for business growth and strategic direction.
• High expectations set by her previous successes at Google, which may be difficult to replicate in a new environment.
• No detailed financial projections or immediate impact on stock performance provided in the PR.
• Possible increased operational costs associated with expanding Sphere Studios capabilities.

LAS VEGAS, June 12, 2024 /PRNewswire/ -- Sphere Entertainment Co. (NYSE: SPHR) today announced that Jennifer Koester's role at the Company has been expanded to President and Chief Operating Officer of Sphere. Ms. Koester most recently served as the Company's President, Sphere Business Operations, where she has played a critical role in leading the strategy and execution of all business aspects of Sphere, a next-generation entertainment medium in Las Vegas.

In this expanded role, Ms. Koester will continue working together with executive leadership, and across the broader Sphere team, to grow the business and optimize its operations. Ms. Koester will now also provide strategic oversight for Sphere Studios – the immersive content studio in Burbank dedicated to developing multi-sensory experiences exclusively for Sphere – including further developing the Studios' capabilities as a full-service production studio. She will continue to focus on maximizing venue utilization across a range of categories, such as original programming, attractions, concerts, residencies, and corporate and marquee events; driving strategic partnerships; delivering the best customer experience; and growing Sphere as a premium global brand.

"Since joining our team earlier this year, Jennifer's contributions have had a significant impact," said James Dolan, Executive Chairman and Chief Executive Officer, Sphere Entertainment. "We believe we are just scratching the surface of what is possible with Sphere, and her expertise will be essential as we continue to advance on our long-term vision for this next-generation entertainment medium."

"I welcome the opportunity to take on this expanded role," said Ms. Koester. "Across the Sphere organization we are focused on both bringing unique experiences to life in Las Vegas, and developing new experiences that will keep Sphere at the forefront of immersive entertainment. I look forward to continuing to work with our world-class team to grow our business and deliver on Sphere's vision for the future of entertainment."

A seasoned executive with 30 years of diverse experience in technology, media, and entertainment, Ms. Koester's experience spans across functional areas including business development, marketing, technology, legal, and product management. Throughout her career, she has leveraged her diverse expertise with a unique ability to integrate legal, technical, business, and operational matters. She joined Sphere Entertainment in February 2024 from Google, where she served as Managing Director, Americas Strategic Alliances, Global Partnerships. In this role, Ms. Koester was responsible for leading the overall relationship with Google's most strategic partners to drive greater incremental value across Google's products and services. She also previously served as Director, Telecommunications and Video Distributors, Global Partnerships at Google, where she was a key contributor to product strategy and roadmaps that delivered new revenue opportunities, including development and monetization of advertising product lines. Her experience prior to Google includes serving as Senior Vice President of Advanced Advertising Product Development, Data Analytics and Ad Operations at Cablevision, as well as various legal positions.

Ms. Koester received a J.D. from St. John's University School of Law and a B.S. in Management Information Systems from Binghamton University.

About Sphere Entertainment Co. 
Sphere Entertainment Co. (NYSE: SPHR) is a premier live entertainment and media company. The Company includes Sphere, a next-generation entertainment medium powered by cutting-edge technologies to redefine the future of entertainment. The first Sphere venue opened in Las Vegas in September 2023. In addition, the Company includes MSG Networks, which operates two regional sports and entertainment networks, MSG Network and MSG Sportsnet, as well as a direct-to-consumer and authenticated streaming product, MSG+, delivering a wide range of live sports content and other programming. More information is available at sphereentertainmentco.com.

Contact:
Sphere Entertainment – spherepr@thesphere.com

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SOURCE Sphere Entertainment Co.

FAQ

What is Jennifer Koester's new role at Sphere Entertainment?

Jennifer Koester has been appointed as the President and Chief Operating Officer of Sphere.

What responsibilities will Jennifer Koester have in her expanded role at Sphere?

Koester will oversee Sphere Studios and lead strategic business initiatives, including venue utilization, strategic partnerships, and global brand growth.

When did Jennifer Koester join Sphere Entertainment?

Jennifer Koester joined Sphere Entertainment in February 2024.

What was Jennifer Koester's previous role before joining Sphere Entertainment?

She was Managing Director, Americas Strategic Alliances, Global Partnerships at Google.

What are some of the categories Sphere will focus on under Jennifer Koester's leadership?

Sphere will focus on original programming, attractions, concerts, residencies, and corporate events.

What is the significance of Jennifer Koester's role expansion for Sphere Entertainment?

Her role expansion aims to leverage her extensive experience to grow Sphere as a premium global brand and optimize its business operations.