In 2024, Cosm emerged as a leader in immersive technology, launching venues in Los Angeles and Dallas, with plans for Atlanta and Detroit. The company raised $250 million, achieving a valuation above $1 billion. Cosm’s innovative wraparound dome theaters provide a unique sports viewing experience through a combination of high-resolution content and live event coverage, while the company aims for further expansion and technological innovation.
Cosm made a significant impact in the immersive technology field in 2024 with the launch of venues in Los Angeles and Dallas, along with plans for additional locations in Atlanta and Detroit. The company successfully raised $250 million, achieving a valuation exceeding $1 billion. This year marked a critical milestone for Cosm, which has developed a unique concept termed ‘shared reality,’ combining elements of planetarium programming with a sports bar atmosphere.
Jeb Terry, President and CEO of Cosm, expressed, “It was the culmination of the four years of hard work we’ve done to get to this point, whether it was the development of the production tech, to the software stack, to the hardware side, building the venues, doing the right deals. Last year was the year it all came together.” The company’s innovative wraparound dome theaters showcase content in 12K resolution, utilizing specialized cameras to capture live game footage, providing the immersive experience reminiscent of front-row seating.
Founded in 2020 and headquartered in Los Angeles, Cosm employs around 399 individuals. Key executives include Jeb Terry, Peter Murphy (Senior Vice President of Content and Media), Devin Poolman (Chief Product and Technology Officer), and Sheli Reynolds (Chief Administration and Strategy Officer). The company has established strategic partnerships with prominent organizations such as the NBA, UFC, NFL, WWE, ESPN, NBC Sports, TNT Sports, Fox Sports, Prime Video, and CBS Sports.
Cosm has secured rights agreements with major sports leagues and media corporations, enabling it to showcase diverse sporting events in its venues. Terry highlighted the success of the UFC 303 event that inaugurated the Los Angeles location and the premiere of the 2024 World Series. 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.”
The company aims for expansion, with discussions in progress for at least 10 additional locations, and potential international growth. Continued technological advancements are planned, including the recent introduction of a new lens on its immersive cameras. Terry articulated the company’s philosophy, “We’ll never ‘arrive.’ That is something that is part of our core DNA. The nature of our business, the spirit of innovation is always that rookie mentality.”
Cosm is redefining sports viewing experiences through its innovative immersive technology, successfully establishing itself with numerous strategic partnerships and significant financial backing. The company’s ongoing expansion plans and commitment to technological advancement underscore its dedication to creating unique viewing opportunities and catering to the audience’s demand for immersive sports events. As Cosm continues to evolve, it remains resolute in its mission to redefine spectator experiences across various locales.
Original Source: www.sportsbusinessjournal.com
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