Cosm is an innovative company in immersive sports technology, launching venues in 2024 and raising $250 million at a valuation over $1 billion. It focuses on a concept termed “shared reality” that combines immersive technology and live sports viewing. The company plans to expand further with ten more locations in discussion and is committed to continuous innovation, as stated by its CEO, Jeb Terry.
Cosm made its debut in the realm of immersive technology in 2024 by launching venues in Los Angeles and Dallas and announcing plans to expand to Atlanta and Detroit. The company successfully raised $250 million, reaching an impressive valuation exceeding $1 billion. This achievement marked a remarkable year for Cosm, emphasizing its innovative concept of “shared reality,” which combines elements of planetarium programming with a lively sports bar atmosphere.
Jeb Terry, President and CEO of Cosm, remarked, “It was the culmination of the four years of hard work we’ve done to get to this point, whether it was development of the production tech, to the software stack, to the hardware side, building the venues, doing the right deals.” Cosm’s advanced dome theaters present content in 12K resolution and utilize specialized cameras for live game filming, creating a front-row viewing experience for patrons.
Founded in 2020 and based in Los Angeles, Cosm employs 399 staff members. The executive team includes Jeb Terry as CEO and President, Peter Murphy as Senior Vice President of Content and Media, Devin Poolman as Chief Product and Technology Officer, and Sheli Reynolds as Chief Administration and Strategy Officer. Major partners include the NBA, UFC, NFL, WWE, ESPN, NBC Sports, TNT Sports, Fox Sports, Prime Video, and CBS Sports.
Cosm has secured agreement rights with prominent leagues and media companies, allowing it to produce a diverse array of sports content in its venues. Terry highlighted events such as UFC 303 and Game 1 of the 2024 World Series as key milestones in the company’s journey. He stated, “We saw there was a demand and a local appetite for all these fantastic events, and being able to fill that gap is what we wanted to do.”
Looking ahead, Cosm aims for growth, with discussions underway for at least 10 additional venues and potential international expansion. The company continues its technological advancements, recently launching a new lens for its immersive cameras. Terry emphasized, “We’ll never ‘arrive.’ The nature of our business, the spirit of innovation is always that rookie mentality.”
In summary, Cosm is at the forefront of immersive sports technology, having successfully established venues and secured major partnerships. The company has emphasized innovation and growth, aiming to expand both nationally and internationally. With a dynamic approach to sports content and a focus on technological advancements, Cosm is poised for continued success in the evolving landscape of sports experiences.
Original Source: www.sportsbusinessjournal.com
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