Tim Leiweke, Chairman of Oak View Group, shares insights on building arenas worldwide, from sports to concerts. OVG leads in diverse ventures like food and security. They represent cutting-edge live entertainment with a focus on innovation and growth.
OVG is at the forefront of building cutting-edge arenas worldwide, focusing on premium experiences for fans and artists.
Innovation in arena design is crucial for success, emphasizing smart choices for acoustics and visitor satisfaction.
Securing naming rights is vital for arena revenue and sustainability, despite potential fan confusion from name changes.
Arena design evolves to enhance fan and artist experiences with optimized acoustics and premium seating options.
Strategic partnerships with major companies like O2 and Amazon benefit arenas, emphasizing growth and service diversification.
Deep dives
Evolving Arena Experiences
In the podcast episode, the discussion delves into the evolution of arena experiences over the years. From outdated settings where serving beer was inefficient and subpar, to current state-of-the-art arenas like the O2 and Climate Pledge Arena that prioritize premium experiences for fans and artists. The focus is on creating venues that cater to both sports and music events without compromising acoustics or overall visitor experience.
Building Success Through Innovation
The podcast also highlights the importance of innovation in building successful arenas. Drawing from experiences at various venues, including the O2 and Climate Pledge Arena, the episode emphasizes the role of smart design choices in offering premium experiences while ensuring optimal acoustics for concerts and sports events. The narrative underscores the impact of forward-thinking strategies in creating cutting-edge arenas that meet the evolving demands of fans and artists.
Financial Viability of Naming Rights
A significant portion of the podcast centers around the financial dynamics of naming rights in arenas. The discussion sheds light on the necessity of securing naming rights deals to generate revenue and sustain arena operations. While naming changes can sometimes cause confusion among fans, the strategic allocation of naming rights serves as a crucial revenue stream that helps maintain the financial health and sustainability of modern arenas.
Revolutionizing Arena Design
The podcast episode delves into the transformation of arena design to enhance the overall fan and artist experience. From optimizing acoustics to reimagining premium seating options, the conversation illustrates how modern arenas like Co-op Live are leveraging innovative design approaches to set new industry standards. By combining fan feedback, artist preferences, and technological advancements, arenas are evolving to deliver unparalleled experiences that cater to diverse entertainment needs.
Partnerships and Naming Rights
Major companies like O2, AG, Amazon, and UBS invest in naming rights for arenas to enhance branding and fan experience. Notable examples include the O2 in London and Climate Pledge Arena. These partnerships reflect strategic investments that benefit all involved parties.
Private Ownership and Growth Strategy
OVG, a private company, focuses on sustainable growth and service diversification. Through investments from partners like Silver Lake, OVG expands its service offerings beyond arena management to include food and beverage, sustainability initiatives, and specialized event services.
Ticketing, Partnerships, and Experience Enhancement
Ticketmaster and Live Nation are key partners in ticketing and concert promotion, supporting OVG's focus on enhancing fan experiences and artist relationships. OVG prioritizes fairness and rewarding artists while leveraging partners' expertise to improve technology and fan engagement.
Transition from Insurance to Successful Careers in Indoor Soccer and Basketball
Transitioning from selling insurance to remarkable success in indoor soccer and basketball, the individual's career trajectory is highlighted. Starting as an intern in an indoor soccer team, the individual rapidly progressed to become the president at a young age by using innovative strategies like community engagement and unique game introductions to boost team attendance and fan engagement.
Influence in Building Entertainment Districts and Global Expansion Efforts
The individual's significant impact in revolutionizing entertainment districts and arenas globally is discussed. From creating iconic pre-game shows to spearheading complex international projects in locations like Vienna, Sao Paulo, and Singapore, the individual emphasizes strategic partnerships and a commitment to delivering unparalleled entertainment experiences while reflecting on the challenges and rewards of entrepreneurship.
Tim Leiweke is Chairman and CEO of the Oak View Group, which builds and owns arenas and manages venues for others. We discuss the status of buildings and shows around the world, as well as Tim's history, from sports to concerts, hockey to basketball to Springsteen and Henley, from St. Louis to Los Angeles and AEG and then Toronto and Maple Leaf Sports & Entertainment to OVG. No one is building more arenas than OVG. Which also has its hands in food, security, diversity and more. Tim and OVG represent the cutting edge of live entertainment, this is the guy.
