Contributed by Craig Duncan, Chief Revenue Officer
Last week, Venuetize participated in the CES 2020 conference where our CRO, Craig Duncan, led off the Sports Technology track on a distinguished panel – ‘Tech Has Changed the Live Sports Experience’. CES 2020 is a global event for technology innovation and provides the perfect arena for sports technology advancements. Nick Curcuru, SVP of Customer Engagement and Analytics, also attended and put together his 5 Takeaways from the event in Vegas:
- Hyper-connectivity - 5G technology will impact the way we all consume sports and entertainment. Content will be delivered and consumed in a far richer and more comprehensive way through the 5G networks being developed. Mobile device makers are ready for this transformation and are rethinking the use of mobile devices to communicate with customers, fans, and guests. For example, the Samsung Galaxy Fold is taking mobile to a new level. With its 4.6-inch cover display for one handed use, unfold it to reveal a tablet size 7.3-inch cinema quality screen to see your favorite player or play over and over again. 5G in combination with this device changes everything for the end user. LAFC, a leader in content, is preparing for their 5G rollout this year.
- Rise of Augmented Reality – AR was on full display at the show. The devices delivering AR are far more immersive, contextual, and engaging then we could have imagined just a year ago. The conference had several sessions on how this technology is helping sports teams and venues collect additional detailed data so they can create more opportunities for their sponsors and partners to present their brands to consumers. The rapid adoption of AR was evident with Apple announcing they are creating AR specific headsets for their phones as well as special eye glasses to be released in 2023. This technology is putting fans right in the action—you will be able to see and experience what players do. We are looking forward to working with our customers on how AR can be utilized through our mobile platform this year.
- 365 Venue – The trend to create districts has been on the upswing for the last several years, but this year several venue owners/operators spoke on how to use arenas to generate revenue 365 days a year. They are including office space, dining options, and in some case entertainment inside the building throughout the day and evening. Monumental Sports is leading the way by creating a dedicated sportsbook right at Capital One Arena. By creating a year-round spot for people to enjoy sports, they are giving them a reason to stay and play at the arena. Zach Leonsis from Monumental Sports spoke about the value proposition it brings to the fan and the arena – saying it gives fans the opportunity to come together to watch games even when they aren’t living in the arena, which is also bringing in revenue for space which was sitting idle.
- Entertainment Districts are Creating Communities – Entertainment districts are quickly evolving into communities. This is a huge shift for sports venue developments. It is no longer about developing restaurants and entertainment options, it is about creating a place for people to live, work, and play. These forward-thinking mix use developments are taking a mobile-first approach to engaging year-round with their guests. Mobile is giving people a way to share their experiences in the community. The Hub on Causeway in Boston is one of the best examples of where this evolution is happening. Delaware North created The Hub on Causeway as a mixed-use development of retail, office, hotel, and residential units to help revitalize the area around TD Garden, home to the Boston Bruins and Boston Celtics. The North Station area of Boston has traditionally been known as a transit hub and where the TD Garden sits. It is rapidly transforming into a desirable neighborhood for residents and businesses alike, as well as year-round hospitality and entertainment options both in and surrounding TD Garden.
5. Artificial Intelligence Enhances the Moment— Sessions across the board talked about how to capitalize on artificial intelligence to create deeper, more relevant experiences. They talked about how the combination of AI with their mobile platforms are allowing them to get closer to their consumers in real-time. AI is helping make hundreds of decisions based on data being captured such as location and Device ID. When that information is put against customer segmentation and preferences, it is helping to drive positive experiences. Mobile is the logical way to deliver real-time decisions especially with 5G providing the advanced speed to provide data and reach the consumers. AI technology has matured to the point that it allows us to make meaningful connections in real time. The question we have to ask in 2020 is how will we use these technology advancements to drive real, measurable value down to the consumer level.
To find out how you can use your mobile platform to take advantage of some the emerging trends above, start the conversation by clicking here and learn how Venuetize can help you make the experience in your space easier, more personal, and enjoyable in 2020.