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Yahoo Finance’s Alexandra Canal, Josh Schafer, and Pras Subramanian ask if this is a new craze for experiences/events or if it’s here to stay, referencing the Las Vegas Sphere.
Warner Bros. Discovery (WBD) plans to partner with Cosm Technology to launch immersive “shared reality” dome sites for sports viewing reporting, one in Los Angeles, California, and another in Dallas, Texas.
Yahoo Finance’s Alexandra Canal, Josh Schafer, and Pras Subramanian ask if this is a new craze for experiences/events or if it’s here to stay, referencing the Las Vegas Sphere.
For more information and the latest market actions, click here to watch this full episode of Yahoo Finance Live.
ALEXANDRA CANAL: The next step in live entertainment: enjoying live entertainment. Now it’s a collaboration with Warner Bros. , Discovery, and this private company called Cosm that works with a lot of immersive technologies. And they work together to broadcast NBA and NHL games in shared truth domes. So what does that mean exactly?
So, two venues will open up in 2024 and that will allow sports watchers to sing along at the live games who are seeing some of the footage on their screen right now. And domes with 8K screens so you can have some of those I decided games. I mean, look at this. The 87-foot domes, I mean, that’s pretty crazy if you want to fully enjoy hunting something, obviously, capitalizes on a lot of the trends that we’re seeing in this market today. The Las Vegas sphere, for example, has generated a lot of optimism about this kind of innovation, yet for me, I feel like this kind of thing is like. . . That’s a trend in my opinion.
JOSH SCHAFER: Oh, it’s the realm of dreams. Build it and they will come.
ALEXANDRA CANAL: I’m right.
JOSH SCAFER: You don’t know you need it until you have it.
ALEXANDRA CANAL: I know, I’m thinking about things.
JOSH SCHAFER: And then you go away and you’re surrounded by football.
ALEXANDRA CANAL: I’m thinking about the Metaverse, right? There was so much money invested in the Metaverse. Era. . . all the corporations were talking about the Metaverse. What happened to the metaverse?Companies like Meta have invested a lot of money in virtual reality, mixed reality, and even Apple with its headsets. I don’t know anyone who has invested in Apple headphones. Don’t I know anyone who talks more about the Metaverse?One wonders if it’s just a fad.
JOSH SCHAFER: To me, the reaction would be that this is based on content that we already know other people need. The Meta headphones were built around new content that was also being tested, right? Not necessarily the video games we had played before. They weren’t completely putting, say, “Call Of Duty,” a popular video game franchise, into the Meta headset and saying, here’s a more immersive experience, an immersive experience for whatever you know we need. We communicate about sports streaming and sports broadcasts all the time. It’s the most popular thing on television, so for me one of the positives is that you accept whatever is in demand. People like to watch sports. People enjoy watching sports with friends on interactive binges, don’t they? So I think going deeper and deeper is what gives you a little more opportunity, or maybe a clue, to build yourself up. Then I get the Metaverse comparison. It’s fair enough. We’re building anything that. . . who asks for that? But I can watch it pass just fine because I need to pass by and watch football on an 87 foot screen.
ALEXANDRA CANAL: yes, I like it, I’m afraid of heights.
PRAS SUBRAMANIAN: I think actually. . . you could enjoy it as an IMAX thing.
CANAL ALEJANDRA: That’s right.
PRAS SUBRAMANIAN: It’s like. . . it’s like other people need to watch IMAX. Maybe they need to watch sports. . .
ALEXANDRA CANAL: That’s right, premium.
PRAS SUBRAMANIAN: In this kind of large-format immersive environment. It’s not necessarily an augmented truth, or even a virtual truth, but I need to ask a question. I spoke with Rory McIlroy a few weeks ago about TGL, which is “Topgolf. “Live,” and it has this kind of real environment combined. Where you have this screen that surrounds the whole stadium, but other people are sitting in the most sensitive part and the players play in this type of golf. like a virtual simulator. And I think that may be the case; we’re going to see if this has any kind of popularity, but maybe other people will like those 8K, live HDR videos. That’s a lot of important words. I think maybe it’s another long road for participatory sports.
ALEXANDRA CANAL: Yes, and I mean, we know, as you said, that we know that the call is there. We know other people love live sports, even concerts, they laugh, everyone goes there and needs to see a concert. . .
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ALEXANDRA CANAL: So, maybe it’s an experiment.
JOSH SCAFER: And the last point I’m going to touch on is everything I’ve been talking about with the sports rights office and you see that Warner Bros. Discovery needs to find another lever, Pras, a lever to pull in order to earn revenue. Not bad?
[LAUGHS]
And it should do so if it’s ESPN with whoever that client is, whoever that investor is, get more cash when it pays billions of dollars.