Cosm climb up the ladder; on funding song

Article posted by Coliseum, August 7^th, 2024

Image: Cosm

Cosm (US), a company that builds giant theaters for watching sports, raised $250 million from a group that includes billionaires Steve Winn, David Blitzer, Marc Lasry, and Dan Gilbert.

‘Bloomberg’ stated that the funding pushes the firm’s valuation to more than $1 billion, according to Jeb Terry, Cosm’s Chief Executive Officer (CEO).

Los Angeles (US)-based Cosm is a global technology company that builds end-to-end solutions for immersive experiences. They provide a full stack experience solution including the physical design, engineering and manufacturing as well as the software, display engine and content needs to deliver immersive experiences at scale. Cosm’s technology enables people to experience entertainment in a new way across the three primary markets: Sports and Entertainment, Science and Education and Parks and Attractions.

‘Bloomberg’ further stated that Lasry, who invested through his Avenue Sports Fund (a private equity fund that invests in sports teams, leagues and related businesses), said he was sold on Cosm after attending an event.

Said Lasry, who previously owned a stake in the National Basketball Association’s (NBA’s) Milwaukee Bucks, “I don’t really get excited about a lot of things, but I was surprised at the technology and how it felt like you were in the game while watching it.”

Cosm, founded in 2020, has one venue in Los Angeles that spans 65,000-square-feet and seats 1,700 guests. It features a giant domed screen that’s more than 80 feet long. Through partnerships with the professional leagues and the TV networks, the location shows sports spanning NBA games and the Ultimate Fighting Championship (UFC) fights to horse racing. Cosm’s programing also includes arts and entertainment experiences such as Cirque du Soleil (a Canadian entertainment company and the largest contemporary circus producer in the world).

Winn, who serves as Cosm’s Chairman, said the company’s goal is to open 50 locations by the end of the decade. The venues in Dallas and Atlanta are in the works. The additional markets that are being scouted for expansion include New York, Miami and Las Vegas.

Informed Winn, “Our first objective is to get into as many different locations as we can, the big ones are important. We also want to look at the European markets and in the Middle East too.”

Dallas Venue

‘AV MAGAZINE’ stated that Cosm will open its second ‘Shared Reality’ venue in the United States on August 31^st.

The 6,000 sq meter experiential venue will be in the Grandscape entertainment complex in the Dallas suburb of The Colony, Texas.

Cosm Dallas is a 65,000 square foot experiential venue in The Colony, Texas, which aims to redefine the way people experience live sports, art and entertainment. The venue is located at Grandscape, one of the largest mixed-use real estate developments in the United States, and features an 87-foot diameter light-emitting diode (LED) dome that merges visuals with the energy of the crowd.

‘AV MAGAZINE’ further stated that the immersive sports tech specialist has put tickets on sale for the College Football Kickoff triple-header of American football matches on Cosm Dallas’s first weekend of opening.

In the Spring, Cosm signed a deal with the broadcaster ESPN to show sports events such as the US Open, the National Hockey League (NHL), the National Football League (NFL) and the NBA at its venues.

The Premier League football (UK) will also be shown on Cosm Dallas’s 27m-diameter 12K+ light-emitting diode (LED) dome with the Manchester United F.C. vs. Liverpool (September 1^st) and the Tottenham Hotspur F.C. vs. Arsenal F.C. (September 15^th) scheduled.

Cosm Dallas is the company’s second venue following Cosm in Los Angeles which opened in July.

Join Forces

‘cosm’ stated that the Cosm and the ESPN have joined forces to bring even more live sports to Cosm venues in immersive 8K+. With a slate of new premium additions such as regular season and playoff college football, NBA and NHL events, US Open Tennis Championships, men’s and women’s college basketball, college baseball and softball, and more, this partnership invites the fans to experience the world’s biggest and best sporting events in ‘Shared Reality’ for the first time.

Sports Showcases

Offering the most expansive array of sports content, Cosm’s partnership with the ESPN brings the world’s greatest live sports events across both the professional and college landscapes, including award-winning championship coverage and regular season programing from the NBA, NHL, college baseball and softball, select UFC Fight Nights, and more.

‘cosm’ further stated that with the addition of sports like tennis, new college content and a wide breadth of championship coverage to Cosm’s sports content ecosystem, this transformational deal ensures every type of fan will always have live, original, immersive content at the Cosm venues.

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