WEBVTT - Broadcasting Live from the US Open 0:00:02.920 --> 0:00:10.719 Bloomberg Audio Studios, Podcasts, radio news. This is Bloomberg business 0:00:10.720 --> 0:00:13.960 Week Inside from the reporters and editors who bring you 0:00:14.000 --> 0:00:18.319 America's most trusted business magazine, plus Gloomal Business, finance and 0:00:18.400 --> 0:00:22.880 tech news. The Bloomberg Business Week Podcast with Carol Messer 0:00:23.040 --> 0:00:34.680 and Tim Stenebek from Bloomberg Radio. 0:00:35.920 --> 0:00:38.040 I love it with Tim Stenebeck dances to Madonna. 0:00:38.120 --> 0:00:40.959 Oh my God. It is just very special. 0:00:42.240 --> 0:00:44.840 Because we're live at the US Open again. It's something 0:00:44.840 --> 0:00:45.639 we look forward. 0:00:45.440 --> 0:00:48.239 To everything, the best two days of well, can I 0:00:48.280 --> 0:00:49.519 say that I don't want to, like, you know, I 0:00:49.560 --> 0:00:52.120 don't want to make the other days feel bad, but sorry, 0:00:52.120 --> 0:00:53.920 it's out there already. Yeah, it's pretty fun being here 0:00:53.960 --> 0:00:55.920 at the US opener in the shadow of Arthur Ash 0:00:55.960 --> 0:00:58.200 Stadium at the twenty twenty four US Open. There are 0:00:58.200 --> 0:01:01.720 a lot of people here this year, Carol. The US 0:01:01.800 --> 0:01:06.160 Open on Monday, Opening Day. Yes, the biggest single day 0:01:06.160 --> 0:01:08.760 crowd in the history of the US Open. Seventy four thousand, 0:01:09.240 --> 0:01:10.679 six hundred and forty one people. 0:01:10.760 --> 0:01:11.120 We're here. 0:01:11.200 --> 0:01:12.600 I feel like every year that we come here, we 0:01:13.000 --> 0:01:14.640 hear like other records being broken. 0:01:15.520 --> 0:01:16.560 We can tell you from experience. 0:01:16.600 --> 0:01:19.760 A ticket resale market also hot. The cheapest ticket you 0:01:20.080 --> 0:01:22.520 did some homework on this, so I had to pay 0:01:22.560 --> 0:01:24.240 for you said right, was more than three hundred dollars 0:01:24.280 --> 0:01:24.919 for a day session. 0:01:25.000 --> 0:01:28.640 Three hundred and eight dollars for Arthur ash tomorrow noon 0:01:29.120 --> 0:01:32.360 noon slot. My life has come in. I got the 0:01:32.360 --> 0:01:33.720 media pass. We're good. 0:01:34.880 --> 0:01:37.440 Let's get to the person who's involved in all of this. 0:01:37.680 --> 0:01:40.840 Kirsten Corio is back with us. She's USTA chief Commercial 0:01:40.880 --> 0:01:43.080 officer on site with us here at the US Open. 0:01:43.880 --> 0:01:46.000 Man, it feels like a good year already. 0:01:46.040 --> 0:01:50.360 It's a bonker's spectacular year yet again. And I will 0:01:50.400 --> 0:01:53.280 have you know that the ticket the original ticket price. 0:01:53.400 --> 0:01:56.720 I'm glad you said resaleing on individuals. The original ticket price. 0:01:57.600 --> 0:01:59.680 The lowest we had was thirty two dollars at the 0:01:59.680 --> 0:02:02.680 time original on sale, so you just have to buy earlier. 0:02:02.720 --> 0:02:03.680 Does this drive you crazy? 0:02:03.680 --> 0:02:03.840 Though? 0:02:04.040 --> 0:02:06.960 Does this drive you crazy that instead of the USTA 0:02:07.320 --> 0:02:09.680 getting the three hundred eight dollars that we spent on 0:02:09.760 --> 0:02:13.360 tomorrow's Nune session, it's ticketmaster whoever we bought it from. 0:02:13.440 --> 0:02:14.800 It doesn't drive me crazy. 0:02:14.840 --> 0:02:16.679 And you know what, it's most likely from a US 0:02:16.760 --> 0:02:20.680 Open subscriber who buys all Arthur Ash sessions who couldn't 0:02:20.720 --> 0:02:23.480 make it for the day session. Really, I mean even 0:02:23.520 --> 0:02:26.160 the most uber fan doesn't make it out for every 0:02:26.200 --> 0:02:28.200 single one of the twenty five Arthur Ash sessions. 0:02:28.240 --> 0:02:29.359 So it's probably one. 0:02:29.200 --> 0:02:31.240 Of them, and I don't begrudge them their ability to 0:02:31.520 --> 0:02:32.320 resell their ticket. 0:02:32.400 --> 0:02:34.640 How much of the tickets are sold ahead of time? 0:02:34.800 --> 0:02:36.639 I remembered you saying something I thought last year. A 0:02:36.680 --> 0:02:37.799 lot of stuff gets sold. 0:02:37.600 --> 0:02:42.280 Out, right, Yeah, So we had just unprecedented demand all year. 0:02:42.320 --> 0:02:46.720 When we first went on sale the original American Express 0:02:46.800 --> 0:02:49.960 Early Early Access for the pre sale, we sold as 0:02:49.960 --> 0:02:51.720 many tickets in the first hour as we did in 0:02:51.760 --> 0:02:55.919 five days last year. So it's just double digit percentages up. 0:02:56.040 --> 0:02:58.680 The on sale a week later, double digit percentages up. 0:02:58.840 --> 0:03:00.480 The demand is nuts. 0:03:00.800 --> 0:03:03.480 There was this big concern two years ago that with 0:03:03.520 --> 0:03:06.880 Serena Williams no longer playing, that you wouldn't see a 0:03:06.919 --> 0:03:09.679 huge demand here in the US. That obviously wasn't the case. 0:03:09.680 --> 0:03:11.160 We talked to you about that last year. How do 0:03:11.200 --> 0:03:13.359 you explain the growth from last year to this year? 0:03:13.400 --> 0:03:17.560 Though I think there are nearly a million people nine 0:03:17.639 --> 0:03:20.200 hundred and fifty seven thousand to be exact who enjoyed 0:03:20.200 --> 0:03:22.840 the twenty twenty three US Open, who said, Man, I'm 0:03:22.840 --> 0:03:24.880 definitely coming back in twenty twenty four, and I'm going 0:03:24.919 --> 0:03:26.240 to take some more friends with me, and I'm going 0:03:26.280 --> 0:03:27.040 to tell all my friends. 0:03:27.320 --> 0:03:29.120 That's the simplest answer I can give you. 0:03:29.960 --> 0:03:32.760 But you know, beyond just the success of this event, 0:03:32.960 --> 0:03:35.320 it feels like for the past few years, tennis has 0:03:35.360 --> 0:03:37.360 been having a moment. More people in the US are 0:03:37.360 --> 0:03:41.080 playing tennis, thans and for me about tennis and as challengers. 0:03:41.120 --> 0:03:44.280 The movies and Daya represent representing the sport beautifully, and 0:03:45.120 --> 0:03:47.960 I just have to, you know, credit the growth of 0:03:48.000 --> 0:03:51.080 tennis participation as an element in the desire for people 0:03:51.120 --> 0:03:52.800 to come out and see the top pros in the world. 0:03:52.920 --> 0:03:54.840 Kirsten, how many people are returnees? 0:03:55.080 --> 0:03:55.160 Like? 0:03:55.200 --> 0:03:55.600 How much? 0:03:55.640 --> 0:03:58.200 What percentage of folks are just coming to the Open 0:03:58.440 --> 0:03:59.520 year after year after year? 0:03:59.560 --> 0:04:02.680 Oh yeah, more than fifty percent of our ur Thrash 0:04:02.760 --> 0:04:05.640 tickets are sold to full series ticket subscribers who do 0:04:05.800 --> 0:04:08.840 purchase all twenty five sessions You're in, You're Out, and 0:04:08.880 --> 0:04:11.400 those were new at ninety eight ninety nine percent. 0:04:11.480 --> 0:04:13.920 Which is amazing. And what about the age demographics? I 0:04:13.960 --> 0:04:15.800 think We've talked with you about this, and I think 0:04:15.840 --> 0:04:17.880 I feel like golf went through it. Maybe I don't 0:04:17.880 --> 0:04:19.200 know if tennis ever went through a little bit of 0:04:19.240 --> 0:04:20.400 a lull of people were worried. 0:04:20.680 --> 0:04:21.919 I don't know that that was the case. 0:04:22.160 --> 0:04:24.640 But I mean, is it continuing to attract a younger 0:04:24.680 --> 0:04:25.600 generation as well? 0:04:26.080 --> 0:04:28.760 Well? I think the short answer is yes. 0:04:28.880 --> 0:04:31.520 But Fan Week is which is now part of the 0:04:31.560 --> 0:04:34.640 three week and one day US Open. The main draw 0:04:34.720 --> 0:04:37.920 runs for two weeks, the qualifying tournament runs the week 0:04:37.960 --> 0:04:40.640 prior that. We've called fan Week, and we've built in 0:04:41.040 --> 0:04:43.520 all kinds of ten poll events to attract a more 0:04:43.560 --> 0:04:46.880 diverse younger audience, younger families to that. And we had 0:04:46.920 --> 0:04:49.520 a record two hundred and sixteen thousand people come through 0:04:49.560 --> 0:04:53.240 that week, that Fan Week, And so that's really the 0:04:53.600 --> 0:04:57.479 way that we can attract a younger audience, a younger demographic. 0:04:57.520 --> 0:05:00.800 We're giving away We gave away ten thousand free rackets 0:05:00.839 --> 0:05:03.920 thanks to Wilson during that week, and we have Heineken 0:05:03.920 --> 0:05:06.839 Happy Hours from five to seven every one of those. 0:05:06.720 --> 0:05:07.760 Days of block Party. 0:05:07.880 --> 0:05:09.680 So I think that's a factor too in trying to 0:05:09.680 --> 0:05:11.599 attract the younger audience to how cool it is to 0:05:11.640 --> 0:05:12.279 be out here. 0:05:12.440 --> 0:05:15.520 It works, and it translates into people coming to the 0:05:15.600 --> 0:05:16.479 open Yeah. 0:05:16.800 --> 0:05:20.520 Yeah, How much more capacity do you have when we 0:05:20.560 --> 0:05:23.680 talk about the number that came on Monday, more than 0:05:23.720 --> 0:05:27.280 seventy four thousand. Can you actually fit more people here? 0:05:27.640 --> 0:05:29.320 We can't fit more people in the stadium. 0:05:29.360 --> 0:05:33.240 The stadium's capacity Arthurrash Stadium is a fixed capacity. Louis 0:05:33.320 --> 0:05:36.800 Armstrong is a fixed capacity. But we also now are 0:05:36.839 --> 0:05:39.719 selling evening grounds passes, which is something we haven't done 0:05:39.720 --> 0:05:42.360 for a while, so we can get more people. We 0:05:42.600 --> 0:05:45.920 didn't like the concept of not allowing people to come 0:05:45.920 --> 0:05:48.320 into the grounds if there's tennis being played outside of 0:05:48.360 --> 0:05:51.400 those two stadiums, and you can go freely and watch 0:05:51.440 --> 0:05:53.159 those if you stay all day with the grounds pass, 0:05:53.240 --> 0:05:54.599 But if you only want to come for the evening 0:05:54.600 --> 0:05:56.799 and watch those matches, will sell you a grounds evening. 0:05:56.960 --> 0:05:59.240 When are those matches taking place in the first are 0:05:59.240 --> 0:06:00.000 they in a second? 0:06:00.240 --> 0:06:02.000 Could you have in the early rounds in the first 0:06:02.000 --> 0:06:05.000 and in the first and second round? You know, every 0:06:05.000 --> 0:06:08.000 one of our courts is filled with competition, and some 0:06:08.080 --> 0:06:11.919 courts have matches that will run all the way up 0:06:12.000 --> 0:06:14.600 until midnight, depending on how long the matches are if 0:06:14.600 --> 0:06:17.560 they're quick matches, perhaps not, But you know, in our 0:06:17.600 --> 0:06:19.919 first couple nights, in our first four nights of the 0:06:19.920 --> 0:06:22.640 first two rounds, you're likely to catch some great tennis 0:06:22.640 --> 0:06:24.640 on the outer courts as well as inside the stadium. 0:06:24.720 --> 0:06:25.880 Some of the matches not so quick. 0:06:26.400 --> 0:06:28.800 Yeah. Yes, he had a record breaking. 0:06:28.520 --> 0:06:32.960 Match, Sebastian, who's on camera and actually doing everything right now. 0:06:33.000 --> 0:06:36.320 He came out here for a match. Was it Monday, Sebastian, 0:06:36.960 --> 0:06:37.640 But you got. 0:06:37.440 --> 0:06:39.679 Home and the match was still going on. Yeah, Yeah, 0:06:41.080 --> 0:06:43.000 is like an hour and a half. It was a 0:06:43.040 --> 0:06:43.719 five hour match. 0:06:44.040 --> 0:06:46.480 Five hours thirty five minutes is the longest match in 0:06:46.480 --> 0:06:51.160 the US Open history between Karen Katchanov and Daniel Evans, 0:06:51.200 --> 0:06:57.480 and just an incredible another record, another amazing, another amazing statistic. 0:06:57.080 --> 0:06:58.520 About the twenty twenty four US Open. 0:06:58.720 --> 0:07:01.240 Yes, I have to say when I walked in, I 0:07:01.279 --> 0:07:05.440 was just blown away by the crowd even looking bigger 0:07:06.120 --> 0:07:08.839 than last year. And I don't know if that's the case, 0:07:09.360 --> 0:07:12.080 but it really like amazes me and over the years 0:07:12.080 --> 0:07:14.680 of coming here, just how it continues to grow. 0:07:14.920 --> 0:07:17.800 Yeah, and so we think we're going to get a 0:07:17.800 --> 0:07:20.320 million fans through the three weeks in one day on 0:07:20.400 --> 0:07:22.200 which i'd be a record, which would be a record 0:07:22.280 --> 0:07:24.680 last year nine hundred and fifty seven thousand. This year, 0:07:25.040 --> 0:07:27.360 we're on track to meet and exceed that record. The 0:07:27.360 --> 0:07:31.080 weather's been great, yeah, and that definitely helps, definitely helps 0:07:31.120 --> 0:07:33.280 people come out and the events that we added through 0:07:33.320 --> 0:07:36.640 fan week and into the finals weekend. We've added a 0:07:36.680 --> 0:07:40.480 Finals weekend festival and watch party in Louis Armstrong Stadium, 0:07:40.520 --> 0:07:45.600 as well as a Finals weekend banfest after party Saturday 0:07:45.680 --> 0:07:47.239 night after. 0:07:47.080 --> 0:07:49.400 The War's final. You know, we'll sleep a little bit 0:07:49.440 --> 0:07:50.880 on September ninth when we. 0:07:50.960 --> 0:07:53.760 Start all over again next week. You know what I noticed. 0:07:53.760 --> 0:07:56.840 I think last year when you rolled up to be 0:07:56.920 --> 0:07:59.160 interviewed by us, you had like a big energy drink 0:07:59.200 --> 0:08:02.520 with you. I don't see the energy drink right now, 0:08:02.960 --> 0:08:04.720 So I think that's a good sign as to where 0:08:04.720 --> 0:08:06.400 we are in the tournament. Like you're feeling good. 0:08:06.840 --> 0:08:07.600 We're feeling great. 0:08:08.280 --> 0:08:10.120 Yeah, next week we might need a little bit more 0:08:10.120 --> 0:08:13.080 of the adrenaline and the energy drink, but we're feeling great. 0:08:13.080 --> 0:08:15.840 We're just energized and axhilerated to see it all. 0:08:16.160 --> 0:08:19.480 You mentioned you mentioned the weather, which I know yesterday 0:08:19.600 --> 0:08:21.480 was a really, really hot day. Do you see a 0:08:21.560 --> 0:08:24.000 decline in the number of fans who come out when 0:08:24.000 --> 0:08:25.560 a day's so hot, I mean so hot that some 0:08:25.640 --> 0:08:27.240 of the tennis players complain about it. 0:08:27.320 --> 0:08:30.360 Yeah, I think that's a factor, you know. 0:08:30.440 --> 0:08:32.600 I think there are certain people, especially those that have 0:08:33.040 --> 0:08:35.960 had the privilege of being out to sessions before either 0:08:36.000 --> 0:08:37.880 this year or other years, who may make a judgment 0:08:37.880 --> 0:08:40.080 call of if they don't feel that they can handle 0:08:40.080 --> 0:08:41.560 being a ninety plus degree heat. 0:08:42.880 --> 0:08:43.760 I think that's a factor. 0:08:43.800 --> 0:08:46.920 But we also did have we may have broken another 0:08:46.960 --> 0:08:48.240 record yesterday in attendance. 0:08:48.320 --> 0:08:50.480 It's even though it was so unbearable. 0:08:50.840 --> 0:08:51.080 Yeah. 0:08:51.320 --> 0:08:52.920 Hot, that's pretty amazing. 0:08:52.960 --> 0:08:53.560 That is amazing. 0:08:53.600 --> 0:08:54.800 I've to tell you, I have a friend here, a 0:08:54.840 --> 0:08:57.520 young couple and they have their seven month old here too, 0:08:57.720 --> 0:09:00.480 So wow, we're creating younger fan base and they're from 0:09:00.480 --> 0:09:02.960 out of town and come in for this event. So 0:09:03.000 --> 0:09:06.000 how do you think about year after year, like how 0:09:06.120 --> 0:09:09.040 you like you continue some of the things that are working, 0:09:09.080 --> 0:09:11.319 How you think about new ways right because you think 0:09:11.320 --> 0:09:13.760 about revenue streams and how do you continue to build 0:09:13.760 --> 0:09:17.600 out the business, so on the business side and keeping 0:09:17.600 --> 0:09:19.960 a balance of keeping the sport pure that people don't 0:09:20.000 --> 0:09:22.960 walk through and feel like it's too commercial. 0:09:23.160 --> 0:09:25.760 That's why fan Week, and I'm sorry, I'm gonna keep 0:09:25.760 --> 0:09:28.199 harping on it like that is such an important investment 0:09:28.200 --> 0:09:31.400 for us. And it is free for all fans to 0:09:31.480 --> 0:09:34.719 attend every one of those days, seven days to come in, 0:09:35.040 --> 0:09:37.160 free to go into Arthur ash Stadium and watch the 0:09:37.160 --> 0:09:39.240 top pros practicing. You can sit in the front row. 0:09:39.559 --> 0:09:41.959 A few days ago, I walked in before the main 0:09:42.000 --> 0:09:44.880 draw and saw Coco playing a practice match against Sabalanca, 0:09:44.960 --> 0:09:47.720 which is like amazing after Arthur ash Stadium competitively, but 0:09:47.760 --> 0:09:50.160 it's a practice match, And I'm looking at the fans 0:09:50.160 --> 0:09:53.320 sitting around that court who got in for free, and 0:09:53.360 --> 0:09:56.320 I'm thinking they're seeing a reprise of the women's final 0:09:56.480 --> 0:09:57.760 last year for free. 0:09:57.800 --> 0:10:00.000 Like, so that's really important. Yeah. 0:10:00.080 --> 0:10:02.440 Now, business is of course very important too, and we 0:10:02.520 --> 0:10:06.640 do know that fifty percent ish of people who attend 0:10:06.640 --> 0:10:09.120 fan Week do ultimately buy tickets for the main draw, 0:10:09.440 --> 0:10:13.000 So it is a pipeline to build future fans. Adding 0:10:13.000 --> 0:10:15.600 tent pole events during that main draw, sorry, during that 0:10:15.640 --> 0:10:18.280 fan Week that our ticketed events is helping grow the 0:10:18.280 --> 0:10:21.160 business as well and provide more exposure for our players, 0:10:22.160 --> 0:10:24.920 and so when we think about ticket sales and hospitality 0:10:24.960 --> 0:10:28.920 and premium, which are primary revenue streams, that's sort of 0:10:28.920 --> 0:10:31.840 how we begin to introduce some test new ticketed products. 0:10:32.200 --> 0:10:35.560 On the premium and experience side, we've been adding new 0:10:35.600 --> 0:10:38.160 products to meet some of that experiential demand. This year, 0:10:38.200 --> 0:10:42.280 we have a finals weekend clinic. A very limited number 0:10:42.320 --> 0:10:44.760 of clients will have the privilege of doing that, playing 0:10:44.760 --> 0:10:48.120 on a court with Andrea Agassi and Andy Rotick before 0:10:48.280 --> 0:10:51.600 the men's final, before the women's final, and sitting in 0:10:51.600 --> 0:10:55.240 the court side premiere first few rows ticketed product, and 0:10:55.679 --> 0:10:58.400 so hospitality and experiences are a big part of that too. 0:10:58.559 --> 0:11:02.440 How limited, So that's a limited I think are trying 0:11:02.480 --> 0:11:04.160 to twenty four. 0:11:05.679 --> 0:11:07.040 Twenty four for each session. 0:11:07.160 --> 0:11:08.400 Yeah, wow, that's amazing. 0:11:08.480 --> 0:11:10.640 That's a pretty cool thing. And the women sold out first, 0:11:10.720 --> 0:11:12.720 which we also love that. Who are they working within 0:11:12.800 --> 0:11:16.320 the women same thing, same same but the draw being 0:11:16.360 --> 0:11:17.040 the women's final. 0:11:17.200 --> 0:11:17.559 Love that. 0:11:18.160 --> 0:11:20.160 How are things looking on the sponsorship side in terms 0:11:20.160 --> 0:11:22.520 of demand, what you're hearing from companies, the appetite for 0:11:22.559 --> 0:11:25.040 them to come back and extend their agreements and partnerships 0:11:25.080 --> 0:11:25.559 with you guys. 0:11:25.880 --> 0:11:28.880 They've been great we've got, you know, a small ish 0:11:29.080 --> 0:11:33.200 roster of partners, twenty four official sponsors, seven of which 0:11:33.200 --> 0:11:35.880 have been with us for more than thirty years. 0:11:35.640 --> 0:11:40.080 So there's a really strong renewal history and track record here. 0:11:40.120 --> 0:11:43.360 And you see our partners on the grounds, activating everywhere 0:11:43.400 --> 0:11:46.520 and entertaining their own clients, but also interacting with fans 0:11:46.559 --> 0:11:50.199 and enhancing the experience for fans. The MX Fan Experience 0:11:50.440 --> 0:11:53.560 was opened during fan Week as well, and. 0:11:53.440 --> 0:11:54.960 We added two new partners this year. 0:11:55.000 --> 0:11:58.960 We added Destination DC for Washington DC tourism and n 0:11:59.040 --> 0:12:02.200 we added Moet as our official champagne partner, which has 0:12:02.200 --> 0:12:02.840 come in handy. 0:12:03.000 --> 0:12:06.760 Are you able to reliably raise prices each year for 0:12:07.040 --> 0:12:09.840 those brand opportunities to keep the revenue growing at the 0:12:09.920 --> 0:12:11.280 USTA From that side. 0:12:11.360 --> 0:12:14.000 As long as we can demonstrate more value to the partner, 0:12:15.840 --> 0:12:19.080 you know, the market, the value of the partnership can increase, 0:12:19.520 --> 0:12:22.920 but it's all dependent on what value does the partner 0:12:22.960 --> 0:12:25.920 wish to extract from the US Open and how can 0:12:25.960 --> 0:12:29.360 we quantify and qualify, you know, the value that we've 0:12:29.360 --> 0:12:30.400 been able to deliver to that. 0:12:30.360 --> 0:12:31.319 Partner over their term. 0:12:31.559 --> 0:12:33.360 What's fun about the sports world for you because you 0:12:33.440 --> 0:12:35.360 spent what fourteen years of the NBA. I know we 0:12:35.360 --> 0:12:37.160 always bring this up, but I think here you're doing, 0:12:37.360 --> 0:12:38.240 you know, tennis. 0:12:38.520 --> 0:12:39.440 There's so much going on. 0:12:39.480 --> 0:12:41.640 We've had a week where the NFL said okay for 0:12:41.720 --> 0:12:42.800 private equity. 0:12:42.400 --> 0:12:43.679 To buy into you know firms. 0:12:44.760 --> 0:12:46.360 We have been doing a lot of stuff a business 0:12:46.360 --> 0:12:51.080 week about the explosion of gambling basically right when it 0:12:51.120 --> 0:12:53.600 comes to all things sports. But what's interesting for you 0:12:53.679 --> 0:12:56.720 to kind of watch this progression and where things are. 0:12:56.720 --> 0:12:59.040 Sports is just fun sports and live entertainment. 0:12:59.080 --> 0:13:01.680 To me, it's great predict everything and that's what makes 0:13:01.679 --> 0:13:05.640 it really serendipitous and fun, but also sometimes stressful. 0:13:05.679 --> 0:13:08.319 Sometimes the energydrink. Energy drink is required. 0:13:09.640 --> 0:13:14.000 But we also we just announced yesterday with our partners ESPN. Yeah, 0:13:14.040 --> 0:13:17.200 we've extended our relationship through twenty thirty seven. 0:13:17.240 --> 0:13:18.680 It will be the longest deal in. 0:13:19.080 --> 0:13:22.720 Tennis and they're a fantastic partner and we couldn't be 0:13:22.760 --> 0:13:23.600 more thrilled about that. 0:13:23.679 --> 0:13:26.880 So that's the big fun news from yesterday. 0:13:26.880 --> 0:13:29.120 That did require a little help from our partner Moet 0:13:29.240 --> 0:13:32.480 in celebrating that one, But that makes it really. 0:13:32.280 --> 0:13:33.600 Full the bottles, like a couple of courts. 0:13:33.600 --> 0:13:36.720 Maybe maybe, maybe when we speak to you next year, 0:13:36.880 --> 0:13:38.200 what's going to be the biggest. 0:13:37.880 --> 0:13:41.360 Change wow for the twenty twenty five US said, yeah. 0:13:41.200 --> 0:13:42.240 We're already thinking about it. 0:13:42.320 --> 0:13:44.920 Yeah, we're about you are you will be in a week? 0:13:44.960 --> 0:13:48.040 We sure are, I mean a couple of weeks. It's interesting, 0:13:48.120 --> 0:13:50.680 like day one begins and we already have a twenty 0:13:50.720 --> 0:13:53.400 twenty five list beginning of Okay, we're going to do 0:13:53.440 --> 0:13:55.720 this differently for next year. But you know, I'll say, 0:13:55.720 --> 0:13:57.719 when we look at the Fan Week and the tent 0:13:57.760 --> 0:14:01.240 pole events, we love them. We want to make them bigger, better, 0:14:01.720 --> 0:14:05.319 you know, more exciting performances, and they really are a 0:14:05.400 --> 0:14:07.680 testing ground for us. You can't predict the competition on 0:14:07.720 --> 0:14:09.840 the court and the main draw, but you can plan 0:14:09.920 --> 0:14:12.320 for and create new experiences for the fans that come out, 0:14:12.360 --> 0:14:15.200 and new ways to deliver that to people digitally. And 0:14:15.240 --> 0:14:16.960 when we think about digital you may not see it 0:14:16.960 --> 0:14:18.600 here on the grounds. If you wanted to take a 0:14:18.600 --> 0:14:20.680 walk over to the Advantage Arena, you could play Fortnite, 0:14:20.720 --> 0:14:22.400 you could play US Open Night. 0:14:22.640 --> 0:14:24.120 Five million people have played it so far. 0:14:26.120 --> 0:14:29.920 Always good to see you, Officer of the USDA, Kirston 0:14:29.960 --> 0:14:32.640 Correo joining us here at the US Open. 0:14:34.040 --> 0:14:37.600 You're listening to the Bloomberg Business Week podcast. Catch us 0:14:37.640 --> 0:14:40.880 Live weekday afternoons from two to five pm Eastern Listen 0:14:40.920 --> 0:14:43.080 on Apple car Play and then brought auto with a 0:14:43.080 --> 0:14:46.760 Bloomberg Business act or want us Live on YouTube. 0:14:47.280 --> 0:14:49.520 Yes, you're at the US Open and just loving it. 0:14:49.600 --> 0:14:50.360 Just perfect weather. 0:14:50.760 --> 0:14:53.320 I gotta say there are a few certain truths when 0:14:53.360 --> 0:14:55.800 it comes to the US Open. There's the honeydews. Okay, yeah, 0:14:55.920 --> 0:14:58.320 check matches that stretch into the middle of the night. 0:14:58.240 --> 0:14:59.600 I think you've run for a long time. 0:15:00.160 --> 0:15:01.680 It players not so much, not so. 0:15:01.720 --> 0:15:05.440 Much a definite New York five even though it's global. 0:15:05.480 --> 0:15:06.360 But crowd. 0:15:06.400 --> 0:15:07.520 We can hear them right now. 0:15:07.440 --> 0:15:09.440 Right like we love it when like somebody scores a 0:15:09.480 --> 0:15:10.880 great point or something. 0:15:10.920 --> 0:15:11.920 If you just hear the crowd. 0:15:12.960 --> 0:15:16.000 Sponsors logos they're plastered everywhere. They've been for years, like 0:15:16.040 --> 0:15:19.560 you know, JP, Morgan, Chase, Emirates, Chubb, IBM, and of 0:15:19.600 --> 0:15:20.920 course American. 0:15:20.520 --> 0:15:23.600 Express, longtime partner of the US Open. MX has been 0:15:23.640 --> 0:15:25.200 a brand sponsor of the US Open for more than 0:15:25.240 --> 0:15:27.760 thirty years. We just talked with Kirsten about some of 0:15:27.800 --> 0:15:29.880 the brands. A handful or so that have been with 0:15:29.920 --> 0:15:32.240 them for a long time, and that includes American Express. 0:15:32.320 --> 0:15:35.160 Yeahs Zuki can tell us exactly why and where they 0:15:35.240 --> 0:15:38.280 see the value. She's vice president of Global Brand, Sponsorships 0:15:38.280 --> 0:15:41.200 and Experiential Marketing at American Express. She joined us on 0:15:41.240 --> 0:15:43.360 site here at the US Open. 0:15:43.440 --> 0:15:46.080 Good hello to see you too, Thanks for having me 0:15:46.280 --> 0:15:46.920 another year. 0:15:47.120 --> 0:15:50.040 It's another partnership year between AMEX and the US Open. 0:15:50.200 --> 0:15:52.320 I know this is our thirty first year, if you 0:15:52.320 --> 0:15:52.960 can believe it. 0:15:53.000 --> 0:15:55.160 Well, what keeps you coming back? I mean this is 0:15:55.160 --> 0:15:58.280 a big ticket event. This is a big ticket item. 0:15:58.320 --> 0:16:01.200 You have to see ROI from as you sit, Yes, 0:16:01.680 --> 0:16:02.640 what keeps you coming back? 0:16:02.680 --> 0:16:05.040 I mean ultimately, right, we are not just in the 0:16:05.120 --> 0:16:07.920 card business. We are really in the business of membership. 0:16:08.120 --> 0:16:10.360 And when we talk about membership, it's about all the 0:16:10.440 --> 0:16:12.320 value that we bring to our card members and our 0:16:12.360 --> 0:16:15.120 prospective card members. So that could be at things like 0:16:15.480 --> 0:16:19.000 live sports and incredible moments like here, music, entertainment and 0:16:19.040 --> 0:16:22.320 other how do we, you know, bring them that incredible 0:16:22.520 --> 0:16:25.760 access and value. Right, And so when you think about 0:16:26.040 --> 0:16:29.400 US Open, I mean, this is such an incredible event 0:16:29.520 --> 0:16:32.240 right here in New York City, and like, yeah, would 0:16:32.280 --> 0:16:33.400 not want to be anywhere else. 0:16:33.480 --> 0:16:36.520 What does it event specifically like the US Open, Yeah, 0:16:36.680 --> 0:16:39.760 do for your membership base. Yeah, it's a feedback you here, 0:16:39.960 --> 0:16:40.640 what do you see? 0:16:40.720 --> 0:16:41.680 It's number one. 0:16:41.680 --> 0:16:44.280 It's an incredible event, right, And I'm sure Curisten talked 0:16:44.280 --> 0:16:46.640 a little bit about even the growth of the fan base, 0:16:46.760 --> 0:16:49.440 right and their ticket sales, et cetera. But even just 0:16:49.480 --> 0:16:52.520 like even in tennis, fandom overall has grown actually year 0:16:52.560 --> 0:16:55.720 after year for the last few years. For US, we 0:16:55.800 --> 0:16:58.160 really think about this event. We were able to bring 0:16:58.240 --> 0:17:01.280 something for everyone because there was so much to offer here. 0:17:01.760 --> 0:17:05.159 We have a twenty thousand square foot fan experience space 0:17:05.640 --> 0:17:08.320 and so it is all indoors, especially on really hot 0:17:08.359 --> 0:17:11.439 summer and New year Gestic is like yesterday, but the 0:17:11.480 --> 0:17:14.200 first floor is actually open to everyone, and so it's 0:17:14.200 --> 0:17:16.920 a fan experience space. We've got everything from Glow Tennis. 0:17:17.119 --> 0:17:19.920 We have this really incredible customizable tennis ball station. 0:17:20.000 --> 0:17:20.440 This year. 0:17:21.400 --> 0:17:24.159 We have you know, things like we actually have a 0:17:24.200 --> 0:17:26.760 two K so like the actual video game two K 0:17:27.040 --> 0:17:30.080 two K Top Spin. We have some gaming stations there. 0:17:30.400 --> 0:17:34.159 We have this really fun trivia based more machines of 0:17:34.200 --> 0:17:36.800 vending machines like size of a human. There's some trivia 0:17:36.800 --> 0:17:38.320