WEBVTT - Cosm CEO Jeb Terry Shares His Vision for Eye-Popping Immersive Content

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<v Speaker 1>Welcome to another episode of Strictly Business, the podcast in

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<v Speaker 1>which we speak with some of the brightest minds working

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<v Speaker 1>in the media business today. I'm Andrew Wallenstein with Variety.

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<v Speaker 1>Twenty years ago, Jeb Terry got an eye full of

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<v Speaker 1>the NFL up close when he made the roster of

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<v Speaker 1>teams like the forty nine Ers and Buccaneers as an

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<v Speaker 1>offensive guard. Today, he's playing a very different position, but

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<v Speaker 1>still getting an eyeful of the sports world as CEO

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<v Speaker 1>of Cosm, a fascinating new business enabling fans to see

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<v Speaker 1>games in specially designed venues with customized screens so massive

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<v Speaker 1>you can trick your brain into thinking you're watching court side.

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<v Speaker 1>We'll be back to talk about this business with Jeb

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<v Speaker 1>in just a moment, and we are back with Cosm

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<v Speaker 1>CEO Jeb Terry. Jeb, thanks for making the time to

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<v Speaker 1>talk to me.

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<v Speaker 2>Andrew, appreciate you having me on. Excited to share more

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<v Speaker 2>about COSM.

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<v Speaker 1>So we got to start with just explaining the experience.

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<v Speaker 1>I had the honor of going down to your la facility.

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<v Speaker 1>I got to see it. Describing it though, I just

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<v Speaker 1>want to make sure let's talk about it like you

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<v Speaker 1>were telling your grandma. The what the cosm experience.

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<v Speaker 2>Is, Well, what we can all agree on is that

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<v Speaker 2>it's a must sy to believe. When you try to

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<v Speaker 2>describe it, you use words like immersive, experiential, hires, all

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<v Speaker 2>these you know, really compelling word choices, and you kind

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<v Speaker 2>of sounded a hyperbolic at times. But at the end

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<v Speaker 2>of the day, this whole thing is about a concept

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<v Speaker 2>that we call shared reality. It's leveraging all the amazing

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<v Speaker 2>immersive technology that's out there in market, some of the

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<v Speaker 2>stuff that we built ourselves, but leaning into the experience economy,

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<v Speaker 2>and it's this notion of wanting to be with a crowd,

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<v Speaker 2>having fun, celebrating the energy of the room, and it's

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<v Speaker 2>about being the best watch party.

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<v Speaker 3>That's really what cousms about.

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<v Speaker 1>Technically speaking, though, let's talk about it from that perspective.

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<v Speaker 1>Explain in terms of the size of these screens. The

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<v Speaker 1>resolution wow us with the numbers.

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<v Speaker 2>Yeah, it's essentially a twenty six meter diameter LED display

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<v Speaker 2>that's twelve K resolution that wraps up and around you

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<v Speaker 2>and over your head where hundreds of fans can sit

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<v Speaker 2>within this dome environment and see eight K plus resolution

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<v Speaker 2>that our media team is producing to put you in

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<v Speaker 2>that best seat in the house. We're switching cameras, we're

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<v Speaker 2>following the action. We're really giving the fans that incredible

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<v Speaker 2>first person experience like they're actually at the event itself,

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<v Speaker 2>and we do it live. So this is something that's

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<v Speaker 2>really technologically advanced. That is a net new offering and

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<v Speaker 2>market and a new experience that we're seeing people really enjoy.

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<v Speaker 1>And look, like I said, I was there in La

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<v Speaker 1>I could vouch for this. And the thing I want

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<v Speaker 1>to make clear to people because obviously you got to

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<v Speaker 1>see it to believe it. A podcast isn't the best

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<v Speaker 1>place to describe the experience. But you know, there's lots

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<v Speaker 1>of technologies like I'll think about Apple Vision Pro where

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<v Speaker 1>it's more like you could see where the product is going.

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<v Speaker 1>It's not quite there yet, your product it's there. I mean,

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<v Speaker 1>I'm sure you're going to innovate it and make it

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<v Speaker 1>even better in the coming months or years. But this

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<v Speaker 1>is a fully baked vision, wouldn't you say, Or am

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<v Speaker 1>I maybe selling it short and it's got a lot

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<v Speaker 1>more to go?

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<v Speaker 2>No, this is a very well I'll say it's well baked.

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<v Speaker 2>There's always room for improvement, and the fact of the matter,

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<v Speaker 2>is by owning our own technology stack and everything around it,

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<v Speaker 2>we're always going to continue to improve. That's that's the

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<v Speaker 2>core of our whole company ethos. One of the things

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<v Speaker 2>we like to say is we are the venue of now,

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<v Speaker 2>not the venue of the future. The venue of the

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<v Speaker 2>future implies obsolescence. We always want to be now, whether

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<v Speaker 2>it's today or ten years from now. We want to

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<v Speaker 2>be the best of breed experience, showcasing the best technological

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<v Speaker 2>advancements possible, and that's why we built the company that way.

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<v Speaker 2>But we feel great about the fan feedback we've been

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<v Speaker 2>getting the experience. We're seeing seeing the fan reaction coming

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<v Speaker 2>in for the first time and then watching fans come back,

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<v Speaker 2>and we're starting to see people come back time and

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<v Speaker 2>time again for the same sport category or even other

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<v Speaker 2>sports or other entertainment offerings. And that's what's really gratifying

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<v Speaker 2>is when you can see that fan them light up

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<v Speaker 2>when they see the experience and they experience the food

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<v Speaker 2>and drinks and everything around it. That's core to it.

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<v Speaker 2>And one of the things Andrew I missed probably was

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<v Speaker 2>that the F and B offering is really part of

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<v Speaker 2>this whole entire shared reality experience. We want to make

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<v Speaker 2>sure you have great food, great drinks, comfortable seeding. It's

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<v Speaker 2>not a theater, and we give all those amenuties you

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<v Speaker 2>might expect at club or VIP sections of these arenas

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<v Speaker 2>and stadiums being built today.

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<v Speaker 1>We should also make clear that the LA facility is

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<v Speaker 1>just one building you have in market. There is a second,

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<v Speaker 1>I believe in Dallas, and a third coming to Atlanta

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<v Speaker 1>and a big number projected for twenty thirty. Walk us

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<v Speaker 1>through that.

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<v Speaker 2>Yeah, So our goal is to take COSM global. You know,

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<v Speaker 2>we've been working on this a while and we built

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<v Speaker 2>the whole back end so that we can scale this.

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<v Speaker 2>It's why we opened two essentially at the same time,

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<v Speaker 2>is to really define that multi point thesis. We've announced

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<v Speaker 2>Atlanta and we have big, big aspirations to take this

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<v Speaker 2>from now to open to over one hundred one day.

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<v Speaker 2>That's that's our goal. We really think that's achievable because

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<v Speaker 2>we look at all these major markets both in the

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<v Speaker 2>US and internationally and they can support that COSM location.

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<v Speaker 2>And we've been working on this real estate scale to

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<v Speaker 2>continue to widen those opportunities and grow. You know, I'd

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<v Speaker 2>love to one point get to where we're opening ten

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<v Speaker 2>a year. We're not there yet, but that's aspirationally where

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<v Speaker 2>we're going. As we get to this big scale and

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<v Speaker 2>each venue Andrew is a essentially a node in a network.

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<v Speaker 2>We can take the same feed and distribute it all around,

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<v Speaker 2>really increasing that overall audience or that single source and

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<v Speaker 2>addressing the demand in various markets.

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<v Speaker 1>Yeah, it's you know, going to be interesting to see

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<v Speaker 1>how you scale. And I'm curious about the financial side

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<v Speaker 1>of this. I think you guys recently got a two

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<v Speaker 1>hundred and fifty million dollar infusion that values the company

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<v Speaker 1>at a billion dollars. Sounds like a lot, but the

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<v Speaker 1>truth is these facilities probably cost a ton.

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<v Speaker 2>Yeah, we're really comfortable with what our facilities are costing

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<v Speaker 2>right now. We didn't go into this thinking anything's going

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<v Speaker 2>to be a loss leader, and we structured this to

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<v Speaker 2>ensure that we can monetize these venues properly and justify

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<v Speaker 2>the capex it costs to build these things. So as

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<v Speaker 2>we look at this scale, we raise the money for

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<v Speaker 2>pure growth capital. It is about deployment and scaling more

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<v Speaker 2>and more and more on a single site. These are

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<v Speaker 2>operationally profitable. This is why how we structure this business.

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<v Speaker 2>But it's about this long term scale and the viability

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<v Speaker 2>of the enterprise and the valuation that you mentioned. It's

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<v Speaker 2>really indicative of the enterprise that we've built. We're not

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<v Speaker 2>just a single venue builder. We have our COSM Media

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<v Speaker 2>and our Technologies orgs where we sell through our technology

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<v Speaker 2>and services to the broader ecosystem across a lot of

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<v Speaker 2>different industries. So we really have a good steady state

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<v Speaker 2>of monetization of where we're going and a number of

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<v Speaker 2>opportunities that we're going to be deploying our technology and

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<v Speaker 2>expertise around the world in addition to everything we're doing

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<v Speaker 2>in the venues.

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<v Speaker 3>So think of the.

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<v Speaker 2>Venues as the best consumer expression of our brand and

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<v Speaker 2>all of our tech. But everything you see in there,

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<v Speaker 2>from the display to the production, to the app to

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<v Speaker 2>the back end XMS system is CAUSM and that's really

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<v Speaker 2>where that valuation is supported. In those scale opportunities as well.

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<v Speaker 1>Tell us a little bit about the origin story of COSM,

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<v Speaker 1>because I was interested to learn that you guys have

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<v Speaker 1>your roots in the planetarium business, which actually makes a

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<v Speaker 1>ton of sense. It's just I've never even thought about

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<v Speaker 1>that as a business.

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<v Speaker 2>Well, that's the thing when you sit back and think

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<v Speaker 2>about it, You're like, oh, I kind of get it.

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<v Speaker 3>It makes sense.

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<v Speaker 2>So the planetarium, it's the first immersive or experiential venue

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<v Speaker 2>ever created the goals to take into space. And you

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<v Speaker 2>probably remember one of the first times you went in,

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<v Speaker 2>right that that awe inspiring surprise and delight as a

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<v Speaker 2>kid when you went into a planetarium. And so when

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<v Speaker 2>we set out to bring the CAUSEM vision to life,

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<v Speaker 2>we looked at all these opportunities and how do we

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<v Speaker 2>make this happen? And my chairman and I my chairman

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<v Speaker 2>a guy named Steve. When we're ideating around how do

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<v Speaker 2>you make this thing happen, I'll say Steve when the

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<v Speaker 2>I not the y okay, I was like a second

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<v Speaker 2>to clarify. Yeah, So really thinking through this, and he

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<v Speaker 2>already known he'd always been fascinated with the planetariums and

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<v Speaker 2>and really had understood and had a lot of passion

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<v Speaker 2>for it. And so looking at it, it's like, wow,

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<v Speaker 2>this planetarium is underlying technology is pretty incredible, and so

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<v Speaker 2>we could leverage that tech to do more things, and

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<v Speaker 2>it turned out it made sense for us to acquire

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<v Speaker 2>that business. So today we are still the largest planetarium

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<v Speaker 2>company in the world. We power over seven hundred globally,

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<v Speaker 2>and so that software has been hardened over time, decades

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<v Speaker 2>and decades, and so it's not like we just came

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<v Speaker 2>up with something and slapped together and opened a venue, right,

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<v Speaker 2>it's that infrastructure that's been built, and so now we're

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<v Speaker 2>able to leverage a lot of that same core discipline

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<v Speaker 2>of putting data in cool dome surfaces and now bring

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<v Speaker 2>that to life within our venues. You know, the prevailing

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<v Speaker 2>game engines of the world today, like Unreal and Unity

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<v Speaker 2>we are Our engine is very similar to that, and

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<v Speaker 2>we're compatible with both engines, and so you can drag

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<v Speaker 2>and drop and bring content from all types there. We've

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<v Speaker 2>also acquired two other companies. One was Livelike VR. We

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<v Speaker 2>bought that company in twenty twenty as a carve out

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<v Speaker 2>of Live Like and they are a VR production company

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<v Speaker 2>for live sports. A great team, had great tech. We

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<v Speaker 2>had the opportunity to buy that business and bring it

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<v Speaker 2>in and we still service that industry. So we produce

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<v Speaker 2>immersive content. We worked with the Olympics and the World

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<v Speaker 2>Cup and a number of others. We work with a

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<v Speaker 2>number of headset providers today. And then we also bought

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<v Speaker 2>a company called C three sixty, which is really known

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<v Speaker 2>for the pylon camera on NFL Sundays. So if you

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<v Speaker 2>watch NFL, you know when the guy's diving over the

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<v Speaker 2>goal line and they cut to that camera. Yep, that

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<v Speaker 2>is us a majority of the time. And so having

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<v Speaker 2>this tech deployed and all this unique capture methodology, we're

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<v Speaker 2>able to bring that in in one house. We call

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<v Speaker 2>it Cosm, So that's the Cosmos meets the coliseum.

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<v Speaker 1>It's funny you bring up the brand name because I

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<v Speaker 1>get it now, but I still think this new business

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<v Speaker 1>of yours needs its own brand name that is a

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<v Speaker 1>little more evocative of the experience my two cents. So

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<v Speaker 1>I don't know if that's something you're even thinking about.

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<v Speaker 2>Well, so it's interesting you say that. When we were

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<v Speaker 2>coming up with the name, you know, really, this this

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<v Speaker 2>combination of Cosm of Colisseum and the Cosmos, like the

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<v Speaker 2>science education vertical, is critical to who we are. It's

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<v Speaker 2>part of our foundational elements. It will always be important.

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<v Speaker 2>So we really wanted to pay respect to that industry

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<v Speaker 2>and our clients there. And of course the Colisseum side

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<v Speaker 2>Cosm was also a four letter domain we could own,

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<v Speaker 2>which is was did did you know? Is meaningful to

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<v Speaker 2>think about? But early days we were laughing. It's we

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<v Speaker 2>want to be like the Q tip of the experience economy.

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<v Speaker 2>Who would have known a Q tip is a cotton

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<v Speaker 2>swab on a stick, right, and who wouldn't know what

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<v Speaker 2>the useful? But I say a Q tip and you

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<v Speaker 2>know exactly what that is?

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<v Speaker 3>Right?

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<v Speaker 2>So hard to explain. So that's the beauty of trying

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<v Speaker 2>to define a category. You have to be comfortable being

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<v Speaker 2>misunderstood in the beginning, and then when you get the

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<v Speaker 2>aha moment, hopefully we can drive traction and all the

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<v Speaker 2>earned media will build what that brand is and what

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<v Speaker 2>cosm really means.

0:11:59.360 --> 0:12:03.559
<v Speaker 1>Well in terms of defining the category, you know, the

0:12:03.600 --> 0:12:07.720
<v Speaker 1>obvious comparison here is going to be the Las Vegas sphere,

0:12:08.120 --> 0:12:13.360
<v Speaker 1>which there's similarities, but there's also a lot of big differences,

0:12:14.000 --> 0:12:18.719
<v Speaker 1>and so I'm just curious, like, how do you are

0:12:18.760 --> 0:12:21.079
<v Speaker 1>you dealing with that in the marketplace right now where

0:12:21.120 --> 0:12:25.120
<v Speaker 1>people just assume that is what you are, How do

0:12:25.160 --> 0:12:25.719
<v Speaker 1>you see that?

0:12:26.160 --> 0:12:30.120
<v Speaker 2>We really view this as a rising tide type of analysis, right,

0:12:30.200 --> 0:12:33.560
<v Speaker 2>The immersive form factor and the sphere is an amazing facility.

0:12:33.559 --> 0:12:38.679
<v Speaker 2>I've been there. What they've done is really technologically very

0:12:38.800 --> 0:12:41.320
<v Speaker 2>very difficult, and they've been able to make it incredible

0:12:41.840 --> 0:12:44.080
<v Speaker 2>and the content they have it's a great experience. And

0:12:44.640 --> 0:12:47.800
<v Speaker 2>at the macro level we agree it's we are both

0:12:47.840 --> 0:12:52.439
<v Speaker 2>building technology led human experiences that leverage amazing audio and

0:12:52.520 --> 0:12:56.640
<v Speaker 2>visual We approach it differently. You know what they've done

0:12:56.679 --> 0:13:00.080
<v Speaker 2>with music and experiential cinema and things like that that

0:13:00.080 --> 0:13:02.960
<v Speaker 2>has been really, really impressive. We really focus on the

0:13:03.000 --> 0:13:06.360
<v Speaker 2>live side of it, like the live virtually live content

0:13:06.400 --> 0:13:08.960
<v Speaker 2>in and all the production around that, and our form

0:13:09.000 --> 0:13:12.520
<v Speaker 2>factors are very different. We're looking at a much more small,

0:13:12.559 --> 0:13:15.400
<v Speaker 2>intimate form factor that we want to take multiple spots

0:13:15.400 --> 0:13:19.240
<v Speaker 2>around the world, and that's a core differentiation. And then

0:13:19.480 --> 0:13:21.800
<v Speaker 2>you know, we both believe in a leveled up experience.

0:13:21.840 --> 0:13:26.160
<v Speaker 2>We want great hospitality, all those things. But there are,

0:13:26.200 --> 0:13:30.200
<v Speaker 2>like you said, quite a lot of differences within the

0:13:30.200 --> 0:13:32.480
<v Speaker 2>business models and the form factors and everything we're doing.

0:13:32.520 --> 0:13:34.840
<v Speaker 2>And then one of the other things that we focus

0:13:34.880 --> 0:13:38.520
<v Speaker 2>on is really multi day part programming, where we view

0:13:38.520 --> 0:13:41.880
<v Speaker 2>each venue like a TV channel where live sports is

0:13:41.920 --> 0:13:44.600
<v Speaker 2>the hero, and then we fill in day parts around

0:13:44.640 --> 0:13:47.040
<v Speaker 2>that to make sure we have a vast programming slate

0:13:47.440 --> 0:13:49.240
<v Speaker 2>to have an always on type of mentality.

0:13:49.360 --> 0:13:52.280
<v Speaker 1>And you guys, I think just recently signed a deal

0:13:52.320 --> 0:13:56.439
<v Speaker 1>with the NFL for some programming there. What is that about.

0:13:56.679 --> 0:13:59.480
<v Speaker 2>So now we've been able to showcase NFL games and

0:13:59.559 --> 0:14:03.240
<v Speaker 2>shared re cosm and something we're really proud of being

0:14:03.280 --> 0:14:06.640
<v Speaker 2>able to do. We've started with Thursday Night football, which

0:14:06.679 --> 0:14:08.240
<v Speaker 2>is great. We've been able to showcase some of that

0:14:08.600 --> 0:14:10.640
<v Speaker 2>Sunday night football as well, and we're going to be

0:14:10.679 --> 0:14:14.480
<v Speaker 2>continuing to expand on that slate of offerings and look

0:14:14.520 --> 0:14:16.440
<v Speaker 2>forward to sharing more when the time is right. But

0:14:16.840 --> 0:14:19.960
<v Speaker 2>we've been really really you know, privileged to be able

0:14:20.000 --> 0:14:23.280
<v Speaker 2>to work with the NFL. Will never well, you know,

0:14:23.360 --> 0:14:25.400
<v Speaker 2>at the end of the day, we're never going to

0:14:25.520 --> 0:14:28.640
<v Speaker 2>be better than that stadium experience, right, That's one of

0:14:28.640 --> 0:14:31.240
<v Speaker 2>the things that we want everyone to know. There's nothing

0:14:31.320 --> 0:14:34.960
<v Speaker 2>like being in a live stadium arena, but for those

0:14:34.960 --> 0:14:37.480
<v Speaker 2>away games, for the times people can't get into the venue,

0:14:37.480 --> 0:14:40.480
<v Speaker 2>when they can't make it there, we're a fantastic offering

0:14:40.480 --> 0:14:42.560
<v Speaker 2>and that's what we're seeing come to life now and

0:14:42.600 --> 0:14:45.360
<v Speaker 2>being able to add NFL programming to our slate has

0:14:45.400 --> 0:14:48.120
<v Speaker 2>been fantastic and something we've been working on for a

0:14:48.120 --> 0:14:48.800
<v Speaker 2>while with them.

0:14:49.200 --> 0:14:52.680
<v Speaker 1>We will hear more about the worlds of sports and

0:14:52.760 --> 0:14:56.360
<v Speaker 1>COSM coming together. In just a minute with more with

0:14:56.480 --> 0:15:08.600
<v Speaker 1>Jeb Terry, and we are back with Cosm CEO Jeb Terry.

0:15:09.160 --> 0:15:13.120
<v Speaker 1>We're just talking about the NFL plank of the sports

0:15:13.160 --> 0:15:17.400
<v Speaker 1>content that you guys do. I guess it helps that

0:15:17.880 --> 0:15:22.840
<v Speaker 1>you already had technology in these stadiums and so these

0:15:22.920 --> 0:15:26.880
<v Speaker 1>leagues were familiar with you. And the reason I say

0:15:26.880 --> 0:15:29.320
<v Speaker 1>it is because essentially we're talking about is you have

0:15:29.400 --> 0:15:34.040
<v Speaker 1>a set of rights deals with these leagues and that

0:15:34.280 --> 0:15:38.040
<v Speaker 1>is no small matter. I would imagine it could also

0:15:38.120 --> 0:15:41.360
<v Speaker 1>be very expensive. What is it like dealing with the leagues?

0:15:41.960 --> 0:15:46.000
<v Speaker 2>Look, I'm a sports guy through and through, layering technology

0:15:46.000 --> 0:15:50.040
<v Speaker 2>and media throughout, and honestly, it's a privilege to be

0:15:50.080 --> 0:15:52.880
<v Speaker 2>able to do it just full stop. The opportunity to

0:15:52.920 --> 0:15:55.800
<v Speaker 2>work with some of these things and deliver that prize

0:15:55.880 --> 0:15:58.400
<v Speaker 2>content to fans in a new way. It really is

0:15:58.440 --> 0:16:01.560
<v Speaker 2>a privilege that we take very serious. The responsibility to

0:16:01.600 --> 0:16:05.480
<v Speaker 2>represent these brands matters most. A lot of the reason

0:16:05.520 --> 0:16:08.280
<v Speaker 2>we've had success is as being a known entity in

0:16:08.320 --> 0:16:12.000
<v Speaker 2>this ecosystem, being able to be a technology service provider,

0:16:12.240 --> 0:16:14.600
<v Speaker 2>to a lot of these leagues is important. Being able

0:16:14.640 --> 0:16:18.560
<v Speaker 2>to work within the broadcast construct and framework is important.

0:16:19.560 --> 0:16:20.000
<v Speaker 3>Myself.

0:16:20.040 --> 0:16:22.680
<v Speaker 2>A lot of my colleagues were at Fox Sports and

0:16:22.680 --> 0:16:25.880
<v Speaker 2>other places, and so understanding how that all works and

0:16:25.960 --> 0:16:29.480
<v Speaker 2>ensuring we can fit in with our production and add

0:16:29.520 --> 0:16:32.720
<v Speaker 2>value back to the other stakeholders matters. So, yeah, we

0:16:32.760 --> 0:16:36.000
<v Speaker 2>are a technology provider, we are also a rights buyer,

0:16:36.520 --> 0:16:41.280
<v Speaker 2>and so that all centers around just a trusted relationship

0:16:41.320 --> 0:16:43.800
<v Speaker 2>and a partnership that we've been developing all the way

0:16:43.840 --> 0:16:46.640
<v Speaker 2>back to when I played and then having some of

0:16:46.680 --> 0:16:49.920
<v Speaker 2>the knowledge of the inner work is how this all

0:16:49.920 --> 0:16:52.200
<v Speaker 2>fits together, and you have to approach it in a

0:16:52.240 --> 0:16:56.680
<v Speaker 2>really humble, respectful way. You can't be a distracting science project, right.

0:16:56.720 --> 0:16:59.200
<v Speaker 2>You need to come in and know that the linear

0:16:59.280 --> 0:17:02.720
<v Speaker 2>proposition and the end stadium experience that is the hero,

0:17:02.880 --> 0:17:05.120
<v Speaker 2>that is the product, and how do we fit in

0:17:05.200 --> 0:17:10.040
<v Speaker 2>and extend that right, help create additional offerings around that

0:17:10.119 --> 0:17:14.720
<v Speaker 2>construct and approach it very humbly. We've done that, we've

0:17:14.760 --> 0:17:19.200
<v Speaker 2>been able to enjoying some success there, and now it's

0:17:19.240 --> 0:17:22.600
<v Speaker 2>our responsibility to execute and live up to our expectations

0:17:22.600 --> 0:17:26.000
<v Speaker 2>and their standards so that we can continue these relationships.

0:17:25.640 --> 0:17:29.399
<v Speaker 1>And I just want to underline what you're saying for

0:17:29.520 --> 0:17:32.920
<v Speaker 1>those who might think that we're speaking maybe a little

0:17:32.920 --> 0:17:37.080
<v Speaker 1>too reverently about these kind of things. But I think

0:17:37.119 --> 0:17:43.639
<v Speaker 1>it's because the opportunity here really is huge if and

0:17:43.720 --> 0:17:48.399
<v Speaker 1>it is really a gigantic if you guys can carve

0:17:48.440 --> 0:17:51.840
<v Speaker 1>out what is sort of a new window of viewing

0:17:52.680 --> 0:17:55.040
<v Speaker 1>that is a sort of a midpoint between the home

0:17:55.160 --> 0:17:59.880
<v Speaker 1>remote experience and the in stadium and if you could

0:18:00.080 --> 0:18:03.680
<v Speaker 1>do that and you've got the rights deals, oh my god,

0:18:03.800 --> 0:18:08.080
<v Speaker 1>your business is going to be a rocket. And so

0:18:08.240 --> 0:18:10.760
<v Speaker 1>that's why we we we sort of speak in the

0:18:10.800 --> 0:18:12.760
<v Speaker 1>tones that we do about these deals.

0:18:12.920 --> 0:18:15.000
<v Speaker 2>You're you're, you're, you're exactly you're exactly right, and that

0:18:15.160 --> 0:18:18.160
<v Speaker 2>is the if. And so look, we had to come through.

0:18:18.200 --> 0:18:23.879
<v Speaker 2>And the only reason we were confident about even attacking

0:18:23.920 --> 0:18:27.080
<v Speaker 2>the if right really going out this is because of

0:18:27.200 --> 0:18:30.200
<v Speaker 2>the early prototyping and experiences that we're able to see

0:18:30.720 --> 0:18:33.000
<v Speaker 2>right in the earliest days and we were spinning up

0:18:33.040 --> 0:18:36.240
<v Speaker 2>some proof of concepts and trying to unpack what what

0:18:36.400 --> 0:18:39.919
<v Speaker 2>is this and it is the oh my gosh experience

0:18:40.359 --> 0:18:42.919
<v Speaker 2>when you're sitting in the technology and you've got the

0:18:43.000 --> 0:18:44.840
<v Speaker 2>right feeds and you're able to do that, and it

0:18:44.880 --> 0:18:49.440
<v Speaker 2>is just a immediate gut reaction moment that I've seen

0:18:49.640 --> 0:18:52.840
<v Speaker 2>time and time and time again, and how did you

0:18:52.920 --> 0:18:53.240
<v Speaker 2>do that?

0:18:53.359 --> 0:18:54.879
<v Speaker 3>Like? That is that is the question?

0:18:55.000 --> 0:18:58.399
<v Speaker 2>And then it was you were doing this live, like,

0:18:58.640 --> 0:19:01.960
<v Speaker 2>oh my gosh, how are you doing this live? Usually

0:19:01.960 --> 0:19:04.280
<v Speaker 2>these are you know, in posts and there's only thirty

0:19:04.280 --> 0:19:08.520
<v Speaker 2>second highlights. And so we saw that we were core believers.

0:19:09.040 --> 0:19:12.080
<v Speaker 2>Early testers saw it. We saw those reactions, and that

0:19:12.119 --> 0:19:15.480
<v Speaker 2>gave us the confidence to put the capital to work

0:19:15.800 --> 0:19:19.320
<v Speaker 2>to build these things and also approach all of these

0:19:19.400 --> 0:19:21.840
<v Speaker 2>rights holders to go out and try to do this,

0:19:21.880 --> 0:19:23.919
<v Speaker 2>and it took a ton of work. As you know, Andrew,

0:19:23.960 --> 0:19:27.480
<v Speaker 2>this is not a easy endeavor. And now that we're here,

0:19:28.640 --> 0:19:31.240
<v Speaker 2>we're seeing seeing fan reactions, we're seeing it go viral

0:19:31.280 --> 0:19:33.639
<v Speaker 2>all the ear in media, and we're seeing that value

0:19:33.640 --> 0:19:37.040
<v Speaker 2>proposition come to life. And then again it's our job

0:19:37.160 --> 0:19:41.160
<v Speaker 2>now to speak about it reverently and execute now right,

0:19:41.440 --> 0:19:46.640
<v Speaker 2>it's this execution phase to continue to mitigate the risk

0:19:46.760 --> 0:19:50.720
<v Speaker 2>downside of the if you know, bolster the net new

0:19:50.800 --> 0:19:54.840
<v Speaker 2>category conversation, and do everything we can to continue to

0:19:54.840 --> 0:19:57.440
<v Speaker 2>scale this business and showcase the power of shared reality.

0:19:57.640 --> 0:20:00.480
<v Speaker 1>Now we should note also that our friends over at

0:20:00.480 --> 0:20:03.880
<v Speaker 1>the Sphere who have a very guess differ a different business,

0:20:03.920 --> 0:20:08.560
<v Speaker 1>but they just did a deal with UFC, So is

0:20:08.600 --> 0:20:12.520
<v Speaker 1>that a validation or competition or maybe both.

0:20:12.680 --> 0:20:14.920
<v Speaker 2>Look Hats off to all those guys for getting that done.

0:20:14.920 --> 0:20:18.440
<v Speaker 2>That was an incredible, incredible event. We were actually given

0:20:18.440 --> 0:20:20.679
<v Speaker 2>our relationship as well. We're able to live stream that

0:20:20.760 --> 0:20:23.439
<v Speaker 2>into our domes, so it was like Sphere in a

0:20:23.480 --> 0:20:25.399
<v Speaker 2>dome like dome sception if you want to call it that,

0:20:25.800 --> 0:20:28.520
<v Speaker 2>and it was. It was awesome because we're able to

0:20:28.560 --> 0:20:32.000
<v Speaker 2>showcase all that amazing media and graphics within our display

0:20:32.040 --> 0:20:36.320
<v Speaker 2>as well, and so we created a really cool experience

0:20:36.400 --> 0:20:38.399
<v Speaker 2>kind of a I don't know if you want to

0:20:38.400 --> 0:20:40.920
<v Speaker 2>call it a satellite type experience, be able to extend

0:20:40.960 --> 0:20:44.160
<v Speaker 2>what they were doing in Vegas into our other venues

0:20:44.480 --> 0:20:47.960
<v Speaker 2>through that UFC relationship. So love to think that this

0:20:48.160 --> 0:20:51.080
<v Speaker 2>was continue additive to all the fight fans and other locations.

0:20:51.400 --> 0:20:54.919
<v Speaker 2>They had a roaring success in Vegas and this extension

0:20:55.359 --> 0:20:59.080
<v Speaker 2>was I think another great proof point of how we

0:20:59.160 --> 0:21:01.800
<v Speaker 2>have a big similar thesis right with us in the sphere,

0:21:01.880 --> 0:21:05.240
<v Speaker 2>but bringing in the right partners can continue to expand

0:21:05.280 --> 0:21:09.119
<v Speaker 2>that and offer these amazing technology powered experiences to others.

0:21:09.440 --> 0:21:14.280
<v Speaker 1>Patents is that something you hold for what the technology is,

0:21:14.280 --> 0:21:17.879
<v Speaker 1>because I would imagine that's got to be pretty valuable

0:21:17.960 --> 0:21:18.600
<v Speaker 1>to the business.

0:21:18.800 --> 0:21:21.480
<v Speaker 2>Look, we have a robust IP portfolio, yeah, and we

0:21:21.520 --> 0:21:23.400
<v Speaker 2>also have quite a lot of trade secrets as well.

0:21:23.960 --> 0:21:25.399
<v Speaker 2>You know, the thing about a patent is you got

0:21:25.440 --> 0:21:29.399
<v Speaker 2>to publish it, and oftentimes we keep a lot of

0:21:29.400 --> 0:21:31.879
<v Speaker 2>that in house without publishing when we don't feel like

0:21:31.920 --> 0:21:34.879
<v Speaker 2>we need to. So we do have a portfolio of

0:21:34.880 --> 0:21:37.520
<v Speaker 2>IP protection in place, which is great. We also have

0:21:37.560 --> 0:21:40.000
<v Speaker 2>a lot of stuff working on that's still still very

0:21:40.000 --> 0:21:43.240
<v Speaker 2>skunk works and incredible that we probably won't pursue patents

0:21:43.280 --> 0:21:50.720
<v Speaker 2>on frankly, but yeah, technological expertise matters. And thinking back

0:21:50.720 --> 0:21:53.960
<v Speaker 2>about the acquisitions we made this company, Evanson Sutherland was

0:21:53.960 --> 0:21:55.800
<v Speaker 2>built all the way back in the nineteen sixties.

0:21:56.160 --> 0:21:58.080
<v Speaker 3>They were in the supercomputer race. At one time.

0:21:58.200 --> 0:22:03.040
<v Speaker 2>They created sketch Pad, world's first graphical user interface. There

0:22:03.160 --> 0:22:07.359
<v Speaker 2>is an amazing history there of computer graphic excellence and

0:22:07.400 --> 0:22:10.720
<v Speaker 2>innovation that we're able to build on. I've in Sutherland

0:22:11.680 --> 0:22:15.119
<v Speaker 2>from the namesake. Evans and Sutherland also contributed to the

0:22:15.160 --> 0:22:18.159
<v Speaker 2>sort of dominicles. The first VR headset ever created in

0:22:18.240 --> 0:22:21.919
<v Speaker 2>nineteen sixty eight. So this, this heritage and history is

0:22:22.200 --> 0:22:24.560
<v Speaker 2>in our DNA, it's in our bones. And there's so

0:22:24.600 --> 0:22:27.840
<v Speaker 2>many lessons that we've been able to learn and retain. So,

0:22:27.960 --> 0:22:31.760
<v Speaker 2>for example, some of my team members now are tenured

0:22:31.840 --> 0:22:35.160
<v Speaker 2>over thirty years within our business. So there's a lot

0:22:35.160 --> 0:22:38.240
<v Speaker 2>of knowledge and know how that we really cherish and

0:22:38.920 --> 0:22:42.119
<v Speaker 2>continue to try to foster and innovate around to do

0:22:42.640 --> 0:22:43.760
<v Speaker 2>where we're going in the future.

0:22:43.960 --> 0:22:49.160
<v Speaker 1>Now, given all that expertise, I wonder about yours. You know,

0:22:49.240 --> 0:22:52.280
<v Speaker 1>what we know about you is your NFL career. You

0:22:52.359 --> 0:22:55.960
<v Speaker 1>mentioned some time at Fox Sports, But explain your road

0:22:56.080 --> 0:22:56.960
<v Speaker 1>to this business.

0:22:57.200 --> 0:22:58.800
<v Speaker 3>Well, my road to this business.

0:22:59.280 --> 0:23:03.000
<v Speaker 2>You know, it's not an ear path clearly, but it's

0:23:03.000 --> 0:23:05.920
<v Speaker 2>filled with wins and losses and and everything along the way.

0:23:06.359 --> 0:23:08.880
<v Speaker 2>But you know, I played at the fortunate of playing

0:23:08.920 --> 0:23:12.040
<v Speaker 2>football the University of North Carolina. I'm a Rabbit tar Heel,

0:23:12.119 --> 0:23:15.000
<v Speaker 2>so go heels, I have to say it, And was

0:23:15.040 --> 0:23:17.000
<v Speaker 2>also able to attend their business school to get my

0:23:17.119 --> 0:23:18.560
<v Speaker 2>NBA after playing football.

0:23:18.960 --> 0:23:20.760
<v Speaker 3>But I went and played football for a while.

0:23:20.800 --> 0:23:23.400
<v Speaker 2>I got the chance to be really, really good ended

0:23:23.440 --> 0:23:25.760
<v Speaker 2>up being okay, So I got it was in essentially

0:23:25.800 --> 0:23:31.080
<v Speaker 2>five years, from seven to sorry, four to eight. Then

0:23:31.080 --> 0:23:32.720
<v Speaker 2>I went back to business school and did my full

0:23:32.720 --> 0:23:37.000
<v Speaker 2>time NBA and uh my summer associate internship.

0:23:37.040 --> 0:23:38.879
<v Speaker 3>I was at Goldman Sachs. I thought I was going

0:23:38.960 --> 0:23:40.359
<v Speaker 3>to go down the banking route.

0:23:40.480 --> 0:23:44.600
<v Speaker 2>Learned a lot really really important for me to transition

0:23:44.640 --> 0:23:47.639
<v Speaker 2>from the league to a professional honestly and understanding that

0:23:47.680 --> 0:23:51.480
<v Speaker 2>executive presence instead of going that route, started our first startup.

0:23:51.560 --> 0:23:54.000
<v Speaker 2>At the time, it was called Gridiron Grunts. It was

0:23:54.080 --> 0:23:57.600
<v Speaker 2>the audio version of Twitter. You know Twitter had tweets,

0:23:57.640 --> 0:24:02.240
<v Speaker 2>We had grunts and yeah, we built it around professional athletes,

0:24:02.280 --> 0:24:06.119
<v Speaker 2>authenticated content, and we built a platform that professional athletes

0:24:06.119 --> 0:24:07.800
<v Speaker 2>could talk into their phone and fans can get at

0:24:07.840 --> 0:24:11.440
<v Speaker 2>real time, and we try to monetize that with ring

0:24:11.520 --> 0:24:13.920
<v Speaker 2>tones and all sorts of stuff that was going on

0:24:14.080 --> 0:24:15.639
<v Speaker 2>right in the tens.

0:24:15.760 --> 0:24:16.199
<v Speaker 3>Call it that.

0:24:16.880 --> 0:24:21.280
<v Speaker 2>We eventually brought video to life within our platform and

0:24:21.400 --> 0:24:23.720
<v Speaker 2>learned a lot. It was your definition of four guys

0:24:23.720 --> 0:24:26.119
<v Speaker 2>in a garage with a startup, didn't know how to

0:24:26.200 --> 0:24:29.359
<v Speaker 2>raise money, didn't know how to acquire a customer, didn't

0:24:29.400 --> 0:24:32.560
<v Speaker 2>know about app store optimation, optimization, none of that. But

0:24:32.640 --> 0:24:35.320
<v Speaker 2>we were great at building a really tight team. We

0:24:35.320 --> 0:24:37.440
<v Speaker 2>were great at finding something of value, which was as

0:24:37.480 --> 0:24:41.320
<v Speaker 2>authenticated content from professional athletes, and what we had to

0:24:41.400 --> 0:24:43.120
<v Speaker 2>learn was how do we find an outlet for that.

0:24:43.760 --> 0:24:46.200
<v Speaker 2>So what we did instead of building a standalone app

0:24:46.240 --> 0:24:48.960
<v Speaker 2>where fans were subscribing, which what we set out to do,

0:24:49.560 --> 0:24:52.119
<v Speaker 2>we ended up syndicating that content to news outlets and

0:24:52.160 --> 0:24:56.200
<v Speaker 2>broadcasters and getting the authenticated real time source. And this

0:24:56.280 --> 0:24:58.520
<v Speaker 2>was before you took cameras into the locker rooms, right,

0:24:58.520 --> 0:25:00.879
<v Speaker 2>it was before you had mobile video, and so then

0:25:00.920 --> 0:25:02.480
<v Speaker 2>we were able to do that. We were to create

0:25:02.520 --> 0:25:05.840
<v Speaker 2>a pipeline that took real time video from an athlete's

0:25:05.840 --> 0:25:08.760
<v Speaker 2>phone into broadcast and so we're working with all the

0:25:08.760 --> 0:25:11.320
<v Speaker 2>broadcasters to bring that to life, and it was eventually

0:25:11.400 --> 0:25:14.680
<v Speaker 2>called Straightcast Media. And so we went through a really

0:25:14.720 --> 0:25:19.159
<v Speaker 2>interesting phase of learning on our end as executives. We

0:25:19.200 --> 0:25:22.280
<v Speaker 2>were able to sell that company to Fox Sports. I

0:25:22.400 --> 0:25:24.560
<v Speaker 2>came with that deal to Fox and was drewing a

0:25:24.600 --> 0:25:28.000
<v Speaker 2>lot of the cross platform innovation. Sitting on the digital

0:25:28.040 --> 0:25:32.719
<v Speaker 2>team and straddling that linear digital fence. If you think

0:25:32.760 --> 0:25:35.000
<v Speaker 2>about how that has evolved, it was a great seat.

0:25:35.080 --> 0:25:38.080
<v Speaker 2>So I got to learn and work of how are

0:25:38.160 --> 0:25:41.240
<v Speaker 2>we doing any immersive presentation of the Super Bowl or

0:25:41.280 --> 0:25:44.359
<v Speaker 2>the World Cup? How are we doing digital? What are

0:25:44.400 --> 0:25:46.240
<v Speaker 2>the social highlight rights?

0:25:46.440 --> 0:25:46.560
<v Speaker 3>Right?

0:25:46.600 --> 0:25:48.639
<v Speaker 2>This is before you even knew that. So at the

0:25:48.680 --> 0:25:50.680
<v Speaker 2>time rights deals were this big when it got to

0:25:50.720 --> 0:25:53.879
<v Speaker 2>social and digital. Now it's all slicensed up and so

0:25:54.600 --> 0:25:57.159
<v Speaker 2>look that Fox Sports learning was so critical to what

0:25:57.200 --> 0:26:00.600
<v Speaker 2>we're doing now and understanding this ecosystem and how it

0:26:00.640 --> 0:26:02.920
<v Speaker 2>all fits together. Was able to do some of the

0:26:02.960 --> 0:26:05.119
<v Speaker 2>biggest invest events in the world with these guys of

0:26:05.359 --> 0:26:08.720
<v Speaker 2>how do you take that linear portfolio and extended elsewhere?

0:26:08.960 --> 0:26:12.120
<v Speaker 2>And so did a lot there. Ended up leaving Fox

0:26:12.160 --> 0:26:16.280
<v Speaker 2>Sports after a tenure there and started going back into

0:26:16.320 --> 0:26:19.560
<v Speaker 2>the sports media tech landscape again. I explored the web

0:26:19.600 --> 0:26:23.680
<v Speaker 2>three space a lot, almost built the first NFT project

0:26:23.760 --> 0:26:26.639
<v Speaker 2>for sports rights, which was a really cool learning. But

0:26:26.720 --> 0:26:31.199
<v Speaker 2>it's always this connection of sports media technology, right, how

0:26:31.200 --> 0:26:33.520
<v Speaker 2>do you how do you think through this construct and

0:26:33.560 --> 0:26:36.240
<v Speaker 2>bring something new to market that I think fans will

0:26:36.280 --> 0:26:39.920
<v Speaker 2>know and love because the through line is fan passion

0:26:40.040 --> 0:26:44.080
<v Speaker 2>Andrew right like there is there is fan passion for

0:26:44.200 --> 0:26:47.320
<v Speaker 2>all sorts, and fans like to self select and tell

0:26:47.320 --> 0:26:49.520
<v Speaker 2>you who they love and they like more of it,

0:26:49.840 --> 0:26:52.439
<v Speaker 2>and so trying to create these new offerings and and

0:26:52.440 --> 0:26:54.959
<v Speaker 2>and and you know that led me to build COSM.

0:26:55.000 --> 0:26:58.480
<v Speaker 2>Working with Steve Wynn who I mentioned before, and then

0:26:58.520 --> 0:27:01.040
<v Speaker 2>being able to build this business was really part of

0:27:01.040 --> 0:27:03.320
<v Speaker 2>that origin story and a lot of my lessons learned.

0:27:03.640 --> 0:27:06.440
<v Speaker 1>You know, when you talk about the holy trinity of sports,

0:27:06.520 --> 0:27:10.800
<v Speaker 1>media and tech, we should point out COSM is clearly

0:27:10.880 --> 0:27:17.239
<v Speaker 1>primarily sports, but there's other nonsports kinds of entertainment, Like

0:27:17.280 --> 0:27:19.560
<v Speaker 1>what could we see that's not sports?

0:27:20.000 --> 0:27:22.720
<v Speaker 2>That's exactly right, So you know, from an entertainment perspective,

0:27:22.760 --> 0:27:25.800
<v Speaker 2>we're looking at we're actually currently working with some real

0:27:25.840 --> 0:27:29.480
<v Speaker 2>trophy IP to bring that to life inside of our venues.

0:27:30.320 --> 0:27:34.200
<v Speaker 2>Thinking about calling it experiential cinema right, type of really

0:27:34.240 --> 0:27:36.800
<v Speaker 2>being world building right and coming in and looking at

0:27:36.840 --> 0:27:39.360
<v Speaker 2>it that way. We're not a first run cinema that

0:27:39.400 --> 0:27:41.320
<v Speaker 2>we're not in that business. We're not a first run theater,

0:27:41.400 --> 0:27:43.360
<v Speaker 2>but think about how do you bring classics to life

0:27:43.400 --> 0:27:46.919
<v Speaker 2>the world building elements. We also do immersive art, so

0:27:47.000 --> 0:27:50.240
<v Speaker 2>you think about the whole explosion of immersive van Go

0:27:50.520 --> 0:27:53.960
<v Speaker 2>and Team Lab and all of that stuff. Bringing that

0:27:54.160 --> 0:27:58.120
<v Speaker 2>type of thinking to our venue. We're seeing great successful

0:27:58.160 --> 0:28:01.680
<v Speaker 2>that really cool excuse me, new media art that comes

0:28:01.760 --> 0:28:04.680
<v Speaker 2>to life, leveraging all of our tech platform We're also

0:28:04.760 --> 0:28:07.479
<v Speaker 2>doing things like oh, from circ to solet that has

0:28:07.480 --> 0:28:09.840
<v Speaker 2>been a fantastic hit. And so think about we have

0:28:09.960 --> 0:28:13.520
<v Speaker 2>cameras underwater, we have cameras up in the trapees, really

0:28:13.560 --> 0:28:16.280
<v Speaker 2>cool site lines around that as well, and then also

0:28:16.359 --> 0:28:18.840
<v Speaker 2>layering in music and programming around that. So can I

0:28:18.880 --> 0:28:21.760
<v Speaker 2>bring Red Rocks live into La? Can I bring a No.

0:28:21.880 --> 0:28:24.959
<v Speaker 2>Two performance into our venues? Bringing that to life and

0:28:25.000 --> 0:28:27.919
<v Speaker 2>all that programming strategy around that. So that's how we

0:28:27.960 --> 0:28:31.960
<v Speaker 2>think about it, really multi genre across all these categories,

0:28:32.400 --> 0:28:35.040
<v Speaker 2>and the through line Andrews. All these categories have fans,

0:28:35.080 --> 0:28:36.879
<v Speaker 2>they have cohorts, they have people that love it and

0:28:36.920 --> 0:28:40.320
<v Speaker 2>self select and now our job is to showcase how

0:28:40.320 --> 0:28:42.200
<v Speaker 2>that comes to life with our venues.

0:28:42.480 --> 0:28:46.240
<v Speaker 1>And I get leading with sports. That makes perfect sense

0:28:46.280 --> 0:28:49.800
<v Speaker 1>to me. But I think you can also make an

0:28:49.920 --> 0:28:54.120
<v Speaker 1>argument that you guys are sitting on the cusp of

0:28:54.920 --> 0:28:57.640
<v Speaker 1>not just sort of taking the Red Rocks and Cirque

0:28:57.640 --> 0:28:59.640
<v Speaker 1>de Soles of the world and presenting them in the

0:28:59.680 --> 0:29:03.640
<v Speaker 1>most interesting way possible. But you could get into original

0:29:03.760 --> 0:29:07.040
<v Speaker 1>content that is not just oh, here's a movie on

0:29:07.080 --> 0:29:10.280
<v Speaker 1>a giant screen, but really approaching the art form in

0:29:10.280 --> 0:29:13.000
<v Speaker 1>a whole new way, not unlike we have seen a

0:29:13.000 --> 0:29:18.480
<v Speaker 1>lot of VR try to do with some degree of success.

0:29:18.680 --> 0:29:21.600
<v Speaker 1>So where is your head at on that opportunity?

0:29:21.880 --> 0:29:24.560
<v Speaker 2>Yeah, you're exactly right, And we've created an internal group

0:29:24.600 --> 0:29:28.320
<v Speaker 2>called COSM Studios that what we do is we green

0:29:28.360 --> 0:29:31.800
<v Speaker 2>light and finance these types of new media projects for

0:29:31.920 --> 0:29:35.160
<v Speaker 2>display in our venues. And the really cool through line

0:29:35.200 --> 0:29:37.240
<v Speaker 2>is we can actually take that same content and put

0:29:37.240 --> 0:29:40.880
<v Speaker 2>it on headsets as well. So this cross compatibility allows

0:29:41.000 --> 0:29:44.600
<v Speaker 2>us to reach more people when we want, and then

0:29:44.640 --> 0:29:47.320
<v Speaker 2>for certain titles, we also make that available to our

0:29:47.360 --> 0:29:50.120
<v Speaker 2>planetarium network. And so if you think about bringing this

0:29:50.880 --> 0:29:53.959
<v Speaker 2>new media production to life and some of this original programming,

0:29:54.320 --> 0:29:57.360
<v Speaker 2>that's what gets really really exciting is because you're I mean,

0:29:57.400 --> 0:29:59.760
<v Speaker 2>you're exactly right where we can work with creators of

0:29:59.800 --> 0:30:03.200
<v Speaker 2>all sorts. Some of these new media artists are just

0:30:03.200 --> 0:30:06.080
<v Speaker 2>doing fascinating work, and we provide the tech and the

0:30:06.120 --> 0:30:08.520
<v Speaker 2>platform and some of the financing for it to bring

0:30:08.560 --> 0:30:12.080
<v Speaker 2>these ideas to life. And we feel great about that

0:30:12.280 --> 0:30:16.200
<v Speaker 2>potential as we look at the windowing of our content,

0:30:16.280 --> 0:30:19.760
<v Speaker 2>the day parting of the venues, the seasonality of sport,

0:30:20.160 --> 0:30:22.880
<v Speaker 2>and how we fill it all in and there is

0:30:23.000 --> 0:30:25.160
<v Speaker 2>so much opportunity. I'll tell you the one thing I

0:30:25.160 --> 0:30:27.080
<v Speaker 2>think everyone can agree on is that in five to

0:30:27.120 --> 0:30:30.760
<v Speaker 2>ten years the world will be more digital, more immersive,

0:30:31.200 --> 0:30:33.160
<v Speaker 2>and will be closer to whatever the metaverse is going

0:30:33.240 --> 0:30:36.240
<v Speaker 2>to be. Right sure, you know our goal is to

0:30:36.240 --> 0:30:38.400
<v Speaker 2>be a thought leader and connector in that space, great

0:30:38.440 --> 0:30:42.920
<v Speaker 2>IP to great hardware, leveraging our experience platform, whether that

0:30:43.000 --> 0:30:46.560
<v Speaker 2>is live sport, whether that's other trophy IP, whether that's Originals,

0:30:46.880 --> 0:30:50.200
<v Speaker 2>and continuing to build on that ecosystem so that we

0:30:50.200 --> 0:30:53.600
<v Speaker 2>can always be a stakeholder in these evolving time that

0:30:53.640 --> 0:30:55.200
<v Speaker 2>we're in right now, which.

0:30:55.160 --> 0:30:58.600
<v Speaker 1>Is a fascinating place to be. And we'll have to

0:30:58.680 --> 0:31:01.160
<v Speaker 1>check back in with you five years and ten years

0:31:01.200 --> 0:31:03.960
<v Speaker 1>to see how it comes to play. But my last

0:31:04.040 --> 0:31:08.200
<v Speaker 1>question is, you guys are in market now. There's two

0:31:08.640 --> 0:31:13.680
<v Speaker 1>open facilities, so I know it's early days, but what

0:31:13.800 --> 0:31:16.680
<v Speaker 1>have you learned? What have you seen in their reception

0:31:17.000 --> 0:31:20.120
<v Speaker 1>that's perhaps some surprises along the way.

0:31:20.480 --> 0:31:24.560
<v Speaker 2>We've learned that fans love the dome experience, they love

0:31:24.680 --> 0:31:26.960
<v Speaker 2>coming to cosm, sitting in the Dome and it is.

0:31:27.080 --> 0:31:30.400
<v Speaker 2>It is a hit for sure. We've also learned that

0:31:30.440 --> 0:31:34.880
<v Speaker 2>it works for essentially every sport. That's something that has

0:31:34.920 --> 0:31:40.320
<v Speaker 2>been fantastic to see, whether it's tennis or soccer, football, basketball,

0:31:40.680 --> 0:31:44.000
<v Speaker 2>we've seen that work really, really well. We've also learned

0:31:44.040 --> 0:31:46.520
<v Speaker 2>that it works for all this other new media and

0:31:46.560 --> 0:31:50.520
<v Speaker 2>things like circ and the core of the concept is

0:31:50.680 --> 0:31:54.520
<v Speaker 2>very sound and it works. We've also learned that we

0:31:54.640 --> 0:31:57.880
<v Speaker 2>can execute it at a scale. So case in point,

0:31:57.960 --> 0:32:00.680
<v Speaker 2>on Sunday alone, coming up, we have a Premier League

0:32:00.720 --> 0:32:04.360
<v Speaker 2>match kicking off at six am in LA, going into

0:32:04.360 --> 0:32:07.560
<v Speaker 2>two NFL windows that will be live, and so our

0:32:07.600 --> 0:32:10.960
<v Speaker 2>ability to program this with live content all the time. Right,

0:32:11.080 --> 0:32:13.320
<v Speaker 2>we've learned that we've built the company and the scale

0:32:13.320 --> 0:32:16.200
<v Speaker 2>to execute that. We've learned we can do two venues

0:32:16.240 --> 0:32:18.520
<v Speaker 2>at the same time, and hence we can do three

0:32:18.560 --> 0:32:21.120
<v Speaker 2>four five with all of our tech stack and our

0:32:21.120 --> 0:32:25.200
<v Speaker 2>production methodology. There's things where we can improve, to be sure, Andrew.

0:32:25.240 --> 0:32:29.200
<v Speaker 2>We can improve on how we present the seating inventory

0:32:29.640 --> 0:32:33.080
<v Speaker 2>with our app. We can improve how we build the

0:32:33.080 --> 0:32:35.560
<v Speaker 2>back of house for our service and support. Right, the

0:32:35.600 --> 0:32:38.280
<v Speaker 2>beauty is is that we're doing so much. Is that

0:32:38.320 --> 0:32:40.880
<v Speaker 2>we can see every angle and hopefully improve the next

0:32:40.920 --> 0:32:43.840
<v Speaker 2>time around. Right, we have our own ticketing app, we

0:32:43.880 --> 0:32:46.480
<v Speaker 2>have our own back end XMS system, and so now

0:32:46.840 --> 0:32:50.800
<v Speaker 2>we're able to start reaching let's call it normalization, and

0:32:50.880 --> 0:32:53.880
<v Speaker 2>then we get to this maximization side of this constant improvement,

0:32:55.000 --> 0:32:59.960
<v Speaker 2>and we're doing it across our entire stack. And you know, look,

0:33:00.400 --> 0:33:02.800
<v Speaker 2>I'm able to speak in this confident manner because what

0:33:02.840 --> 0:33:05.360
<v Speaker 2>we're seeing in market, and we're seeing how fans are responding,

0:33:06.360 --> 0:33:11.200
<v Speaker 2>and we're seeing this appetite and demand even exceed some

0:33:11.280 --> 0:33:12.200
<v Speaker 2>of our expectations.

0:33:12.440 --> 0:33:13.360
<v Speaker 3>And so now our.

0:33:13.280 --> 0:33:15.360
<v Speaker 2>Job is that you need to take all that earned

0:33:15.600 --> 0:33:18.400
<v Speaker 2>media in the virality that we were all seeing and

0:33:18.560 --> 0:33:21.720
<v Speaker 2>continue to convert it and convert fans to cosm and

0:33:21.840 --> 0:33:24.200
<v Speaker 2>to ticket sales. And that's where we're starting to make

0:33:24.240 --> 0:33:26.560
<v Speaker 2>that part of a core competency to continue to do

0:33:26.600 --> 0:33:30.880
<v Speaker 2>that and raise awareness on the event level basis.

0:33:30.960 --> 0:33:33.120
<v Speaker 1>Well, it's going to be interesting to see how your

0:33:33.160 --> 0:33:36.440
<v Speaker 1>growth story plays out in the coming year. Jeb Terry,

0:33:36.520 --> 0:33:38.800
<v Speaker 1>thanks for coming on strictly business.

0:33:38.440 --> 0:33:40.480
<v Speaker 2>Andrew appreciate it. We love to come back when we

0:33:41.120 --> 0:33:43.360
<v Speaker 2>revisit this story and see where I was right and where.

0:33:43.160 --> 0:33:43.600
<v Speaker 3>I was wrong.

0:33:47.200 --> 0:33:50.120
<v Speaker 1>Thanks for listening. Be sure to leave us a review

0:33:50.280 --> 0:33:52.800
<v Speaker 1>at Apple Podcasts or Amazon Music.

0:33:53.000 --> 0:33:55.960
<v Speaker 2>We love to hear from listeners. Please go to Variety

0:33:56.000 --> 0:33:57.320
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0:33:57.400 --> 0:34:01.160
<v Speaker 1>For the free weekly Strictly Business news letter, and don't

0:34:01.160 --> 0:34:04.680
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0:34:04.760 --> 0:34:05.680
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