WEBVTT - Rabil on PLL Championship

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<v Speaker 1>You're listening to Bloomberg Business Week with Carol Masser and

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<v Speaker 1>Jason Kelly on Bloomberg Radio. All right, I'm gonna say it,

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<v Speaker 1>Carol Master and I can see each other because we

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<v Speaker 1>have this great video con system that allows us to

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<v Speaker 1>see each other, so we don't step on each other

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<v Speaker 1>all the time. We still managed to, uh, we can

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<v Speaker 1>see each other. We're absolutely giddy like Christmas morning. It's Friday.

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<v Speaker 1>I'm headed out on vacation and over the weekend, I'm

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<v Speaker 1>going to be in front of the TV. I can

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<v Speaker 1>tell you on Sunday whether I like it or not.

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<v Speaker 1>And I want to be because the championship the Premier

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<v Speaker 1>Lacrosse League it's happening. The slate is set. So let's

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<v Speaker 1>understand what led us to this place. Because we heard

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<v Speaker 1>about the plans from him back in May, and now

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<v Speaker 1>he has pulled it off. We're talking about Paul Rabel,

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<v Speaker 1>co founder, chief marketing officer, star player of the Premier

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<v Speaker 1>Lacrosse League. He joins us on the phone from the

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<v Speaker 1>bubble there in Utah. Alright, pr, how you doing? I'm

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<v Speaker 1>doing all right? How are both of you? I wish

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<v Speaker 1>I could be on the video conference too. Oh God,

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<v Speaker 1>we would love that. I would love to do that.

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<v Speaker 1>I'm going to do that next time so you can

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<v Speaker 1>see how ridiculous we are, like signaling each other back

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<v Speaker 1>and forth. Um. So here we are you you the

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<v Speaker 1>league has played keep me on this here nineteen games,

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<v Speaker 1>one to go. UM the Championship on Sunday. It'll be

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<v Speaker 1>on main NBC NBC Sports. Remind me NBC at twelve

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<v Speaker 1>thirty Eastern. We have about a three hour windows, so

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<v Speaker 1>you'll get the not only the championship game of the

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<v Speaker 1>of the two teams that have survived the Gauntlet and

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<v Speaker 1>the whip, Snakes and Chaos, and it's a it's a

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<v Speaker 1>really interesting storyline. So I remember being on with both

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<v Speaker 1>of you and May and talking about the concept that

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<v Speaker 1>that we've been able to basically pull off that's medically

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<v Speaker 1>safe and and this bubble that that a lot of

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<v Speaker 1>leagues that we're seeing, leagues that haven't done it, um

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<v Speaker 1>are in trouble. Um. You know, we created essentially a

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<v Speaker 1>World Cup tournament, and what we ended up getting was

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<v Speaker 1>the team who finished last place in group play ended

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<v Speaker 1>up upsetting in the elimination round to higher seeded teams.

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<v Speaker 1>So we have this David versus Goliath number one team

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<v Speaker 1>and the Whips versus the number seven team in chaos,

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<v Speaker 1>um and uh, and it's gonna be an exciting game.

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<v Speaker 1>So everything that we bet on, that that the three

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<v Speaker 1>of us talked about around Rationale is to why do it?

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<v Speaker 1>And what's the business model? Looks like it's all it's

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<v Speaker 1>all really paid off. Viewerships up, uh, subscriptions are up.

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<v Speaker 1>Just excitement and general energy around the sport. And then

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<v Speaker 1>for us um as as a new league, this is

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<v Speaker 1>our second season. A lot of the challenges you get

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<v Speaker 1>as a co founder as an operator when you pitch

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<v Speaker 1>networks and brands is well, why are you not going

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<v Speaker 1>to be the next XFL or the next a S

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<v Speaker 1>And for us to be able to pull this off

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<v Speaker 1>with class and success and and having negative COVID tests,

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<v Speaker 1>And I think it's for us as we go to

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<v Speaker 1>market next year and begin selling the business and generating revenue.

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<v Speaker 1>I've told our b D team we're gonna lead our

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<v Speaker 1>pitch decks with this. Yeah, so it's it's uh, it's

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<v Speaker 1>a silver lining. So I gotta tell you, you know, Jason,

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<v Speaker 1>I've talked a lot Paul about what you did because

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<v Speaker 1>I feel like you were certainly ahead of the curve

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<v Speaker 1>when it came to sports trying to figure out the

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<v Speaker 1>way back. And you guys did the bubble and did

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<v Speaker 1>it really well. When you see the other stories of

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<v Speaker 1>other leagues and players in other sports and say baseball

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<v Speaker 1>and they're testing positive and it's just not going well,

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<v Speaker 1>you know what's the difference. What it is it that

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<v Speaker 1>you did that made it work so well? And what

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<v Speaker 1>do you think is going wrong with some of the

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<v Speaker 1>other leagues? And I think the NFL is up next

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<v Speaker 1>if they don't create like a multi bubble uh season.

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<v Speaker 1>And I think the the NFL, given that they are

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<v Speaker 1>are held to the highest standard in pro sports of

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<v Speaker 1>the guess business in the industry standalone, Um, you know,

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<v Speaker 1>canceling our postponing games is I don't think it's gonna

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<v Speaker 1>land as well as And then a lot of people

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<v Speaker 1>they're they're discussing MLB would say that it hasn't landed well.

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<v Speaker 1>But I can't imagine a week where it just as

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<v Speaker 1>the much revenue and attention goes in the NFL, of

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<v Speaker 1>all of a sudden, you know, the Dallas Cowboys have

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<v Speaker 1>nineteen positive COVID test and then well we're gonna postpone

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<v Speaker 1>this critical week. It's just not gonna sit well. So, UM,

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<v Speaker 1>the the difference, Carol. For us, we were already doing

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<v Speaker 1>a single site model going tour based, and that was

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<v Speaker 1>disruptive to the pro sports landscape, and we had our

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<v Speaker 1>investors that came in and believed in it. So we

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<v Speaker 1>we had a step ahead of the competition, call it

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<v Speaker 1>other sports leagues, because we knew how to operate a

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<v Speaker 1>single site model where we were bringing all of our

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<v Speaker 1>teams to one site over a weekend. So what we

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<v Speaker 1>did is took those principles and expanded them over three weeks,

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<v Speaker 1>and then we layered over top of it, but really

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<v Speaker 1>a table stakes COVID nineteen Medical Team and Health protocol

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<v Speaker 1>where we were began our testing with all of our

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<v Speaker 1>participants at home. You had to have a negative test

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<v Speaker 1>to then resumed to transportation, and then on arrival you

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<v Speaker 1>had to have another negative tests that were quarantine involved.

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<v Speaker 1>We got through UM and and thankfully to all the

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<v Speaker 1>participants and everyone who and it took themselves took the

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<v Speaker 1>process safely. We we had fewer than half a dozen

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<v Speaker 1>positive tests to start from at home, and then when

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<v Speaker 1>we began testing on site, but three subsequent tests have

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<v Speaker 1>all been negative. Every single test was negative. And so

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<v Speaker 1>the bubble and my my co founder and CEO, has

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<v Speaker 1>called it more of a force field. Force field it

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<v Speaker 1>works because if you can isolate the virus and and

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<v Speaker 1>not let anyone else in, then uh, as long as

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<v Speaker 1>everyone does their job from a disciplinary standpoint, you can

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<v Speaker 1>get back to business. So can I just say it's

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<v Speaker 1>a great lesson for society at large? Totally? And I mean,

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<v Speaker 1>and then it's a lesson the world gonna have to

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<v Speaker 1>learn as we go through this. Only about a minute

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<v Speaker 1>left before we do some news. Um, your co founder

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<v Speaker 1>brother Mike Rabel, were there any moments, Paul where you

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<v Speaker 1>looked at each other and we're like, we're really nervous

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<v Speaker 1>about this. Yeah, all the way through April and May.

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<v Speaker 1>Um and then uh and then you know, I remember

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<v Speaker 1>telling you all because you were the second show I

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<v Speaker 1>did after the announcement on the Today's Show was like, well,

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<v Speaker 1>we're here now. So it's one of those things like

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<v Speaker 1>when we raised our money a couple of years ago,

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<v Speaker 1>we made the announcement, we're here now, and uh, and

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<v Speaker 1>let's just focus on one step at a time, one

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<v Speaker 1>day at a time one Uh, you know, one mask

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<v Speaker 1>at a time, and uh, it's it's it's analogous to

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<v Speaker 1>sports and and as Carol said, it's analogous to how

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<v Speaker 1>this country is going to change, this first wave or

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<v Speaker 1>not is like that the details live in the nuance

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<v Speaker 1>of our day to day and it's like taking care

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<v Speaker 1>of yourself, wearing ppe and being respectful, right, respectful of

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<v Speaker 1>your community. And I thought, and you're gonna say, was

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<v Speaker 1>there any time you looked at your brother and said,

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<v Speaker 1>I'm kind of sick and tired of you living together

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<v Speaker 1>in this bubble? And I love my siblings. Listen, these brothers,

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<v Speaker 1>they are something special. It's a special time, as you

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<v Speaker 1>have seen up close and personal. So, Paul, one of

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<v Speaker 1>the things we've talked with you a lot about you

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<v Speaker 1>and I have talked a lot about on the sidelines,

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<v Speaker 1>as it were, is the media and broadcast side of this.

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<v Speaker 1>And I remember talking to you and Mike about the

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<v Speaker 1>fact that you guys are constantly pushing on how to

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<v Speaker 1>make it a more immersive and more interactive type of broadcast.

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<v Speaker 1>You're making up players, you're doing all sorts of things.

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<v Speaker 1>What was new and different? What did you learn from

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<v Speaker 1>this experience of over the last couple of weeks. Yeah,

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<v Speaker 1>it's a great question. And and your your broadcast is

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<v Speaker 1>your product as a as a pro league, so you

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<v Speaker 1>got to get it right. And things that we got

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<v Speaker 1>right in our inaugural year was our talent with NBC.

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<v Speaker 1>Those are the first two people that if you were

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<v Speaker 1>at home, engages with. If they're welcoming, if they're insightful,

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<v Speaker 1>if they're educational, if they're if they're motivational and exciting,

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<v Speaker 1>like that creates a better experience for the viewer at home,

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<v Speaker 1>so that they're really important. You're looking for the curl

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<v Speaker 1>mass of lacrosse. Basically, that's right. That's exactly right, Emma,

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<v Speaker 1>Jason Kelly, don't. I'm just gonna say it's it's that's right.

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<v Speaker 1>So you get that right. You know, the products on

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<v Speaker 1>field competitively is going to be great, but you can

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<v Speaker 1>enhance that and so we brought we doubled our hot

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<v Speaker 1>mics on players during COVID, knowing that you were going

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<v Speaker 1>to be stripped of like the fan ambiance, and that's

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<v Speaker 1>really exciting. You think about football broadcast, there's like anywhere

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<v Speaker 1>from you know, I think twenty one minutes of actual

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<v Speaker 1>gameplay over four hours on screen, there's a lot of

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<v Speaker 1>panning out of the crowd. So we did a couple

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<v Speaker 1>of things, and I think that we had the advantage

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<v Speaker 1>of watching a few individual sports leagues go off before

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<v Speaker 1>us first without fan noise that was pushed in either

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<v Speaker 1>through the speakers of the stadium are done in posts

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<v Speaker 1>through the broadcast. We found that that created actually a

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<v Speaker 1>more familiar viewing experience and was voted positively for the fans.

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<v Speaker 1>So we have, uh, you know, kind of a pretty

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<v Speaker 1>we haven't essentially like a DJ booth of of fan

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<v Speaker 1>noise per what's happening on the game. That's what they're

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<v Speaker 1>doing the MLS right now, it's what they're doing in

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<v Speaker 1>the NBA, and it makes a better experience. Um, we

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<v Speaker 1>go from the booth to our players on field live

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<v Speaker 1>and have conversation with them that's unique to the p LLL.

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<v Speaker 1>And then we've done a lot of fan and the

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<v Speaker 1>greatest stuff from home. So if our fans are no

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<v Speaker 1>longer in the stands and they're on their couches at

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<v Speaker 1>home watching, how can we get them involved? So we

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<v Speaker 1>use technology called tagboard that enables our fans posts on

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<v Speaker 1>social media be picked up through the broadcast. And we've

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<v Speaker 1>also done watch parties that we've included on broadcasts. And

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<v Speaker 1>we've included celebrities uh through a zoom conference line that

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<v Speaker 1>come in and and UH two boxes what you call

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<v Speaker 1>it in the business where you'll see Bill Belichick from

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<v Speaker 1>the lower third, UH talking to Paul Bermister and Ryan

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<v Speaker 1>Boyle who are a host on NBC during a game

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<v Speaker 1>and talking about the game. And that's one really exciting

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<v Speaker 1>when you get that level of talent involved in the

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<v Speaker 1>broadcast and it's fun for the viewer. But two our

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<v Speaker 1>celebrities that come in and Drew Brees is another. We've

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<v Speaker 1>had Camio Acoustic. UM. They use their promotional platforms to

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<v Speaker 1>bring more viewers to us. So that's what we've done

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<v Speaker 1>from a broadcast standpoint. And UH and we have a

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<v Speaker 1>couple more tricks up our sleeps through the championship game. So, Paul,

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<v Speaker 1>I don't know if you've heard that. It's the phone

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<v Speaker 1>ringing and the head of NBC Sports wants to hire

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<v Speaker 1>you to figure out how to reprogram how they cover sports. No,

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<v Speaker 1>but I do think about that, right, you know, go back.

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<v Speaker 1>You know, in the last couple of years, we've had

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<v Speaker 1>tons of conversations about the NFL and you know, different

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<v Speaker 1>sports and they're losing a younger audience. So from what

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<v Speaker 1>you've learned, you know here in your second season, what

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<v Speaker 1>do you think can apply or what do you think

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<v Speaker 1>other sports maybe should be doing to really pull in

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<v Speaker 1>maybe a larger audience and a younger audience. Yeah, so

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<v Speaker 1>I'm gonna go like kind of deep here in theory.

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<v Speaker 1>So what we had the benefit of in we started

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<v Speaker 1>building is what would a pro sports league built in

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<v Speaker 1>the century look like? Because all legacy leagues were built

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<v Speaker 1>in the twentieth century and your primary revenue generator was

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<v Speaker 1>plinket sales. Now we all talk about media and broadcast

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<v Speaker 1>in social media as a promotional tool. And so actually,

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<v Speaker 1>if you look at this pandemic what we're in, and

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<v Speaker 1>you look at industries across the board, a lot of

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<v Speaker 1>great executives are able to predict the future, what's the

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<v Speaker 1>environment gonna be like ten years from now, and who

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<v Speaker 1>can get their quickest. That's how you build momentum across generations.

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<v Speaker 1>COVID has for me presented this forcing mechanism for leagues

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<v Speaker 1>now who are really left with no choice but to

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<v Speaker 1>build a bubble to then say, okay, what are we

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<v Speaker 1>focused on now and its viewership and the national sponsorship,

0:11:56.480 --> 0:11:58.880
<v Speaker 1>So that means how do you then enhance the broadcast?

0:11:59.080 --> 0:12:02.160
<v Speaker 1>And uh, I think what what we're seeing as a

0:12:02.200 --> 0:12:05.599
<v Speaker 1>result is similar to what we've seen technology due to

0:12:05.679 --> 0:12:08.080
<v Speaker 1>businesses over the last decades, similar to what we saw

0:12:08.480 --> 0:12:10.680
<v Speaker 1>you know, subscription video on demand services due to the

0:12:10.679 --> 0:12:13.240
<v Speaker 1>film business. And I think we're going to see as

0:12:13.280 --> 0:12:15.760
<v Speaker 1>a result, at least the positive results we're seeing in

0:12:15.800 --> 0:12:19.160
<v Speaker 1>this bubble model is like some exploration of shifts on

0:12:19.200 --> 0:12:22.480
<v Speaker 1>how sports are presented across the board, not just for broadcasts,

0:12:22.520 --> 0:12:25.480
<v Speaker 1>but you know, how fans are experiencing them even at games,

0:12:25.520 --> 0:12:28.959
<v Speaker 1>and and and I think this is that potential tipping

0:12:29.000 --> 0:12:31.920
<v Speaker 1>point for pro sports that have been pretty past attend

0:12:32.040 --> 0:12:34.640
<v Speaker 1>enough to this point. And we're in an advantageous position

0:12:34.679 --> 0:12:37.120
<v Speaker 1>because we're the most nimble as as a league, and

0:12:37.160 --> 0:12:40.000
<v Speaker 1>we're well financed and and uh and we can take

0:12:40.040 --> 0:12:43.040
<v Speaker 1>more risks. So when do you make a decision only

0:12:43.040 --> 0:12:45.800
<v Speaker 1>about lap, but when do you make the decision about

0:12:46.040 --> 0:12:49.920
<v Speaker 1>next season? Paul? Yeah, So the the interesting thing for us,

0:12:49.920 --> 0:12:51.960
<v Speaker 1>So you guys know, we're tour based, and that's a

0:12:52.000 --> 0:12:57.280
<v Speaker 1>difference that's a different look. But this has gone so well. Abstractly,

0:12:57.360 --> 0:12:58.920
<v Speaker 1>I like to I like to look at both ends

0:12:58.920 --> 0:13:02.600
<v Speaker 1>of the spectrum apossible. Od one end is what individual

0:13:02.679 --> 0:13:05.199
<v Speaker 1>sports have done so well, And take golf and tennis,

0:13:05.240 --> 0:13:08.080
<v Speaker 1>they have the four majors. Is there a world where

0:13:08.200 --> 0:13:11.679
<v Speaker 1>professional lacrosse, at least with the p LL, explores next

0:13:11.800 --> 0:13:14.880
<v Speaker 1>year doing like four of these bubble bobs? And that's

0:13:14.920 --> 0:13:18.000
<v Speaker 1>if that's if we don't solve for COVID nineteen. Now,

0:13:18.040 --> 0:13:19.719
<v Speaker 1>if we have a vaccine and we can, I think

0:13:19.720 --> 0:13:22.160
<v Speaker 1>we'll go back to our tour based model. But there's

0:13:22.160 --> 0:13:24.120
<v Speaker 1>a lot of success in what we've built here and

0:13:24.120 --> 0:13:26.800
<v Speaker 1>it's it's worth taking another objective look at it with

0:13:26.800 --> 0:13:29.360
<v Speaker 1>our board this offseason. Right all right, Well, we look

0:13:29.400 --> 0:13:31.199
<v Speaker 1>forward to catching up with you on that. Best of

0:13:31.280 --> 0:13:33.640
<v Speaker 1>luck this week in the championship game for the PLL.

0:13:33.920 --> 0:13:37.199
<v Speaker 1>Find it on an NBC this Sunday, twelve thirty. Paul

0:13:37.320 --> 0:13:40.360
<v Speaker 1>Rabel He is the co founder of the Chief Marketing Office, Sir,

0:13:41.000 --> 0:13:43.560
<v Speaker 1>and the man behind it all. He and his brother Mike,

0:13:43.640 --> 0:13:46.160
<v Speaker 1>they created this league. Love catching up with him. So

0:13:46.160 --> 0:13:48.080
<v Speaker 1>happy we were able to do that. Yeah, me too,

0:13:48.200 --> 0:13:50.559
<v Speaker 1>good call, I know you were in touch with him,

0:13:50.600 --> 0:13:52.280
<v Speaker 1>and it just makes me smile. And he's just so

0:13:52.280 --> 0:13:54.280
<v Speaker 1>smart in terms of how he thinks about things.