IMAX’s Post

Opening Remarks: Sarah Sandler Executive Director, Business and Program Development, Milken Institute - Moderator: Jim Gray Sportscaster, Fox, SiriusXM and Amazon Prime; Author, "Talking to GOATs"- Speakers : Earvin "Magic" Johnson Chairman and CEO, Magic Johnson Enterprises - Mark Walter Founder and CEO, TWG Global; Founder and CEO, Guggenheim Partners "#Investing in #professional #sports #teams has long been a harbinger of prestige and influence. Concurrently, there's a notable cultural #shift in the sector as #fans increasingly opt for #streaming services and #platforms to catch their favorite teams, opening #new #avenues for #value #generation. This #changing landscape highlights the #profitability of #investments across #leagues, #teams, and #athletes. Join Earvin “Magic” Johnson and Mark Walter for a discussion on the #world of #sports from the #viewpoints of key #stakeholders." #Leaders in #Sports: A Conversation with Earvin “Magic” Johnson and Mark Walter Tuesday, May 7, 2024 27th annual Global Conference, broadcasting live worldwide - #MilkenInstitute -

Rick Allen’s latest op-ed on Sports Business Journal: Should leagues swing at Diamond’s latest curveball? Let's unpack the insights and the latest developments in this intriguing piece!

Liberty Media remains the most valuable sports empire in the world 🏆 their primary holding is Formula 1. It was an honor hosting Liberty Media Board Director Derek Chang on our Conference sports media panel and hearing how Liberty is fueling F1’s impressive growth. Formula 1 team valuations have skyrocketed since Liberty Media bought the league in 2017 (average F1 team value is up 270%+ since 2019 per Forbes). Our executive panelists highlighted this key point: LEAGUE VALUE DRIVES TEAM VALUE. This is beyond F1, so follow Powerhouse Capital to hear exec insights on valuation drivers in pro sports. The Liberty Media-Formula 1 Playbook: Per our panelists, it's very important to understand that the economics of sport are so much more than the “game itself” (beyond traditional media rights fees and broadcasts). Growing the business means growing outside of the core sport’s fan, especially into the casual fan – a key learning having been CEO of National Basketball Association (NBA) China, where personalities count, and it’s not unusual that a fan will care more about what Stephen Curry ate for lunch than his game’s result. The north star is never “losing relevancy”, because it’s really hard to get back. So, it’s extremely important to take these brands and franchises beyond the “one play on the field” and immerse fans in the ecosystem’s continual experience. Continual engagement with media, especially social, is key. Netflix F1 Docuseries "Drive to Survive" launched in 2019, and now more than 1 in 5 F1 fans say the docuseries is a “major reason” they have become fans of the sport. It’s since been renewed for 6 seasons, and has fueled crossover events like the live #NetflixCup with #DrivetoSurvive vs. hit golf series #FullSwing. Beyond that, Liberty centralized top-down operations (which they credit the National Football League (NFL)). They implemented cost caps, helping drive team profitability across the league. #sportsbusiness #formula1 #nba #nfl

As the National Basketball Association (NBA) Finals begin, the league is finalizing a $76 billion, 11-year media deal, solidifying NBCUniversal and Amazon as key players. NBC will pay $2.5 billion annually for about 100 games, and #Amazon's $1.8 billion deal includes regular-season games, the in-season tournament, and "play-in" games. ESPN’s $1.5 billion deal reduces its game count but includes its new streaming service, Venu. Warner Bros. Discovery (WBD), a long-time #NBA broadcaster, is out for now but hopes to reach a new agreement. Despite CEO David Zaslav's skepticism about #NBCUniversal's spending, WBD reiterated its NBA commitment. Mark Zamuner, president here at Juice Media, believes fragmented media deals benefit content producers and the league, potentially increasing rights fees 2.5 times. He also sees significant growth potential in women’s sports. “To see the value generation of women’s sports and its growing audience—that is greatness to see,” Zamuner said. “Long-term lockups and value generation, especially with consumer choice, offer great upside.” NBA sponsorship revenue rose to $1.5 billion this past season, up 7%. The in-season tournament drew 58 brands, with major sponsorships for future events.  Read more here: https://lnkd.in/gR57WhEB

Sports & Entertainment is a big topic. From the players on the field, the stadiums around them, and even the crowds who came to see it all. What’s also there is the entire fan experience: a carefully choreographed set of systems that most people don't see (by design). With the FIFA World Cup, NBA All-Star Game and the Olympics and Paralympics coming to Los Angeles, what's next for the future of Sports & Entertainment?

I’m not that impressed by the new sports streaming service Venu Sports. Venu Sports is the joint venture between Disney’s ESPN, Warner Bros. Discovery and Fox. It will feature all three companies’ portfolio of live sports. This includes the NFL, NBA, NHL, MLB, and college football. The service will cost $42.99 a month. The joint venture is aiming to launch before the start of the NFL season on September 5th, but it is still pending regulatory approval. It is also expected for further details to be released when it launches. My problem here is there are still so many sports games you are not receiving and $42.99 a month is quite expensive. Consider the fact that now Amazon, Apple, Alphabet and Paramount also own large sports rights. One thing I’ll be interested in is how expansive the service will be. For example, with the NFL on Fox you are only able to view the local Fox game that is being broadcasted. With this new service would I be able to watch any NFL game that is being broadcasted on Fox that day? If not, I really don’t believe this is worth the money. As for the business structure it will be interesting to see how it plays out. Each company will own a 1/3 stake, have equal board representation, and will continue to bid independently for sports rights. I find it interesting they have an equal share since they all bring different rights to the table. As it stands right now, I’m not a fan of this deal as a consumer nor would I be as an investor in one of these companies. #VenuSports #ESPN #WarnerBros #Discovery #Fox #NFL #streaming

I’m not that impressed by the new sports streaming service Venu Sports. Venu Sports is the joint venture between Disney’s ESPN, Warner Bros. Discovery and Fox. It will feature all three companies’ portfolio of live sports. This includes the NFL, NBA, NHL, MLB, and college football. The service will cost $42.99 a month. The joint venture is aiming to launch before the start of the NFL season on September 5th, but it is still pending regulatory approval. It is also expected for further details to be released when it launches. My problem here is there are still so many sports games you are not receiving and $42.99 a month is quite expensive. Consider the fact that now Amazon, Apple, Alphabet and Paramount also own large sports rights. One thing I’ll be interested in is how expansive the service will be. For example, with the NFL on Fox you are only able to view the local Fox game that is being broadcasted. With this new service would I be able to watch any NFL game that is being broadcasted on Fox that day? If not, I really don’t believe this is worth the money. As for the business structure it will be interesting to see how it plays out. Each company will own a 1/3 stake, have equal board representation, and will continue to bid independently for sports rights. I find it interesting they have an equal share since they all bring different rights to the table. As it stands right now, I’m not a fan of this deal as a consumer nor would I be as an investor in one of these companies. #VenuSports #ESPN #WarnerBros #Discovery #Fox #NFL #streaming

In the middle of Super Bowl week with key broadcasters rolling out earnings later this week, a new Sports Streaming Platform was announced that will consolidate ESPN+, Hulu, and HBO Max which ultimately consolidates ESPN, FOX Sports, and Warner Bros. Discovery. This platform will have access to National Football League (NFL), UFL, National Basketball Association (NBA), WNBA (Women's National Basketball Association), Major League Baseball (MLB), National Hockey League (NHL), PGA TOUR, College basketball, National Women's Soccer League (NWSL)... basically everything you can think of except The Premier League. This is the ultimate sports streaming package. This is groundbreaking and potentially game changing. This is a great case study and discussion for students to dig into. Sports Business Classes - - this is quite a significant move. There has been a lot of discussion about Live Sports x Streaming. The NFL is setting records. All the leagues are looking hard at streaming partners. How does this partnership and the "one stop shopping experience" impact access to sports? What does it do to the overall profile of streamers in the sports broadcasting marketplace? What are the advantages to fans? to leagues? teams? What are the risks? Check out all the coverage at Sportico & Front Office Sports before you come to any conclusions. Scott Soshnick and Eben Novy-Williams in particular crushed this on twitter. With some great info and graphics. https://lnkd.in/gEdUvHsb Temple University's School of Sport, Tourism and Hospitality Management University of Oregon Lundquist College of Business Portland State University - School of Business UCLA Anderson School of Management Jesuit High School Portland Alvernia University Georgetown University McDonough School of Business Oregon State University College of Business #sportsbusiness #sportsmarketing #sportsmanagement #sportsbizprof #sportsstreaming

Every touchdown, slam dunk, home run, and knockout is soon to be just a click away in the same place. Here's why 👇 This fall, Disney, Warner Bros. Discovery, and Fox are coming together to launch Venu Sports, a groundbreaking streaming service that promises to redefine how we watch sports. The service promises there to be no more juggling multiple subscriptions and no more missing out on the action. In a move set to shake the industry, Venu Sports aims to deliver a one-stop shop for sports enthusiasts, bundling ESPN+, ABC, Fox, TNT, and more. It's cutting through the noise and delivering unparalleled access to live games and content. But behind the scenes, challenges loom. Regulatory hurdles and potential antitrust suits stand in the way. And with rumors of TNT losing National Basketball Association (NBA) media rights, the path to launch is anything but straightforward. For Ultimate Fighting Championship and combat sports fans, this could mean a more seamless and engaging way to catch every fight. With ESPN's deep ties to the UFC, Venu Sports may be the ultimate destination for combat sports content, opening new doors for partnerships and promotions. While pricing details are still under wraps, Venu Sports promises to be a game-changer, offering a competitive alternative to cable. Many critics are expecting a hefty price tag. It’s a bold vision for the future of sports entertainment, and the entire streaming world is on the edge of its seats. #linkedinsports #streaming #content

🔲 BREAKING NEWS in the Sports Streaming World | Venu Sports vs Fubo 🔳 In a significant legal development, a U.S. District Court judge has halted the highly anticipated launch of Venu Sports, a new sports streaming service created by Warner Bros. Discovery, Fox Corporation.and The Walt Disney Company. This ruling comes as a victory for Fubo, a competing sports-centric streaming service, which filed the lawsuit earlier this year. 🔳 Fubo’s lawsuit argued that Venu Sports would "substantially lessen competition and restrain trade," accusing the entertainment giants of using their market power to create an exclusive sports channel offering while forcing other distributors to carry broader bundles of less popular channels. This decision has been hailed by Fubo CEO David Gandler as a win for consumers, ensuring a more competitive landscape for sports streaming. 🔳 Venu Sports, set to launch at $42.99 per month, was aimed at cord-cutting sports fans, offering major league content from the #NBA, #MLB, #NFL, and #collegesports —key programming that has traditionally anchored cable TV bundles. The service was expected to attract 5 million subscribers in five years, reflecting its potential to reshape the streaming landscape. 🔳 However, the legal battle is far from over. Warner Bros. Discovery, Fox, and Disney have vowed to appeal the decision, defending Venu Sports as a “pro-competitive option” that would enhance consumer choice in a fragmented market. This case highlights the critical role live sports play in the streaming era, where traditional cable is rapidly declining. 🔳With the stakes high and the legal fight continuing, the future of sports streaming remains a hotly contested battleground. Stay tuned as this story develops. #StreamingWars #SportsStreaming #VenuSports #Fubo #WarnerBrosDiscovery #FoxCorp #Disney #LegalUpdate #MediaIndustry #CordCutting #LiveSports #CompetitiveMarket #ConsumerChoice #EntertainmentNews #DigitalTransformation #MediaTech Image credit: Getty