I took in the immersive viewing experience at Cosm’s facility in Playa Vista, Calif., recently and walked away quite impressed. I strongly recommend it. The presentation of game action is energetic and dynamic, and you feel you’re in the best seat in the house, hearing and feeling the sounds and competitive drama. There’s a physicality to it all and when you combine the remarkable technology with the premium environment, you can see this being an offering fans should want.
The first Cosm facility, with a capacity of around 2,000, will open in Inglewood and host its first public event June 29 for UFC 303. CEO Jeb Terry, who presents very well, said the get-in price will be $20, in addition to a number of premium options. The second venue will open in The Colony, Texas, this summer. Here’s what I like about Cosm: It’s a new, additive experience that many fans, especially those looking for a premium and intensely visual experience, should want. Cosm is spending money on real estate, venue development, technology and media rights, but it has something unique and compelling. Two questions remain: Will people want to pay, repeatedly, to attend shared reality/immersive experiences around sports, music or other attractions? And, are the economics there to scale with multiple venues?
WHAT I HEARD AT WORLD CONGRESS
Among the comments I jotted down while sitting in the audience during the CAA World Congress of Sports. … I liked learning about the approach to storytelling and what creators look for. SMAC’s FredAnthony Smith said it comes down to the basics: “The way we approach stories is not looking to see what’s selling. It’s not looking to see what we think a buyer might want. With us, it starts with, ‘Is this a story that we would watch? Is this a story that we’d want to tell and is this a story that is important to tell? Is this something we think is cool?’” PLL co-founder Paul Rabil, who has a documentary and a new book to his credit, acknowledged he has studied various forms of storytelling and outlined his thinking. “No. 1, story is king. No. 2, establish a hook. So, if you’re creating short form on social, the first two seconds matter. If it’s a television or a film, the first two minutes really matter. You got to get it right. You got to have believable characters with real arcs. Conflict is the big narrative driver of drama. And you have to appeal to emotions, so I try to think about Jimmy Valvano: ‘If you can experience a day where you smile, laugh, and cry, it’s a full day.’ It’s the same thing for film and television. And the last one, it’s got to have a great ending. If it’s a show, you have got to cliff-hang well. If it’s a film, it’s got to end well.”
One of the more open and animated storytellers at the event was Qualcomm CMO Don McGuire, who mixed humor with strategy in discussing the company’s marketing of its Snapdragon suite of products, including landing a front-of-kit deal with Manchester United for a reported $75 million a year. McGuire said the company looked at everything from cricket to soccer, as a deal had to be global in nature. Man U rose to the top for various reasons, including one fun, non-confirmed fact: “There’s a Manchester United jersey sold once every 15 seconds in the world.” The brand was partnering at a lower level when the club pitched a front-of-kit sponsorship. “First, I was flattered that they thought of us. … The second thought was there’s no effing way I’m going to be able to get this through because we’ve never done anything this big before as a company. Qualcomm seven years ago couldn’t spell the word brand.” He said Man U helped write a business case that he presented to his CEO, Cristiano Amon. “I took him the numbers, and said, ‘One season being front-of-kit partner with Manchester United gives [us] the same exposure level as 42 Super Bowl ads. So, do you want me to pay for 42 Super Bowl ads, or do we want to do front-of-kit? And he said, ‘That makes sense.’ It came down to efficiency.” The brand will become the seventh front-of-kit partner for Man U this summer, for both men’s and women’s teams. He expects to spend 20% more on top of the rights fee in activation costs.
A few other thoughtful takeaways. When asked what the sports industry must do a better job of, AEG CEO Dan Beckerman said, “Streamlining content delivery.” NASCAR COO Steve O’Donnell said, “Making sports accessible to that common fan and for anyone who wants to come out and experience your sport.” Kansas City Chiefs President Mark Donovan added, “We can do a better job as an industry of collaborating.” … Asked the No. 1 thing they do as an individual to stay competitive as an executive, Angel City’s Julie Uhrman said, “Meet the fans.” Beckerman agreed, “Same, talking to fans.” Donovan added, “I’m still working on this, but I try to intently listen. The better I listen, the more I learn.”
Abraham Madkour can be reached at amadkour@sportsbusinessjournal.com.
