Wizard of Ahhs! Sphere will spend $80M to bring classic film to high-tech Vegas arena: sources

James Dolan plans to follow the yellow brick road to boost profits at the Las Vegas Sphere, The Post has learned.

The state-of-the-art concert venue, with its unparalleled visuals and haptic seating, is nearing a deal with Warner Bros. Discovery to adapt the 1939 classic “The Wizard of Oz” for a one-of-a-kind immersive experience, sources close to the situation said.

However, the process to convert the 102-minute film into an 80-minute digitally-enhanced sensory spectacle for The Sphere won’t come cheap.

Sources said the company plans to shell out $80 million to update the Oscar-winning film starring Judy Garland — which cost $2.7 million to make before its release in 1949, about $25 million when calculating for inflation.

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A Sphere analyst said the $80 million production costs sound like a lot, but the idea made financial sense.

“They make more money on original content and not the concerts,” the source said

The Sphere is currently showing “Postcard from Earth,” a 55-minute film by director Darren Aronofsky. It is shown up to three times a day at the 20,000-seat arena, with the cheapest tickets selling for $114.

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It is not clear how much the Sphere will charge for fans to watch the 85-year-old “Oz” on what will basically be a supersized Imax screen, even with the wicked witch flying across its LED-covered ceiling.

Warner Brothers Discovery will collect roughly 5% of the gross profit, one of the sources said.

Sphere didn’t respond to comment and Discovery did not return calls.

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The focus on movies comes as Dolan continues to hunt for musical acts.

Rock legends The Eagles have a residency at the Sphere slated to run from September through early January.

The Sphere, which cost $2.3 billion to build, has earned roughly $100 million since it opened in September, the analyst said.

Sphere’s shares are down 15% in the past five trading days from $44.64 to $38.12.

The Sphere had been in talks to acquire “The Wizard of Oz” rights since early June, according to Casino.org .

Dolan has made plans to build additional Spheres in countries like South Korea, where could also show the movie.

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