Stuart WoodDennis Mills, CEO of Major Events International, on how technology can provide an antidote to inefficiency in a post-Covid world
Whilst we continue to wrestle with the health priority that Covid-19 presents to society, the economic stress that the pandemic has placed on the sport, entertainment and major event industries is palpable. Businesses are rightly assessing their current operational models, seeking to understand how they can emerge from the current chaos into a position that allows them to recover, and maybe, just maybe, be a more finely tuned machine than before.
Not surprisingly, many in our industry are seeking to understand how technology can play a role in maximizing commercial yield, drive operational efficiency, increase immersive emotional engagement and ultimately improve the fan/sport relationship through improved data insights. This can be a daunting task, considering the sheer volume of options in this space. Whilst there are many fantastic solutions to choose from, it is of critical importance to understand what technologies can get the desired outcome for each rights holder.
Simply, a solution for one venue, might be less appropriate for another, due to a myriad of operational, commercial or infrastructure considerations. Understanding that technology is not a “silver bullet”, rather a tool like any other that can be leveraged to add value, should be the starting point. Having a clear goal in mind, aligned to a coherent strategy, should allow each team, venue or event to leverage technology in a way that helps solves short term challenges, but also brings medium and long term return on investment.
Major Events International has recognised the need to shine a spotlight on the importance of technology across the sports and entertainment eco-sytstem. As a result, it has created a Technology Sub Group of its members, to help form a think tank of some of the most effective solution providers to service the industry, preparing the market for what comes next. Josh Philpot, the General Manager of Commercial for PMY (www.pmygroup.com) is the convenor of this Group. PMY assists its clients, such as the Tokyo and Paris Olympics, the ECB, Fulham FC and UEFA, in understanding the role that technology can play across their asset base, whether that be physically or digitally. If you are interested in finding out more, please contact him on josh.philpot@pmygroup.com
The group will be sharing insights and case studies during the Major Events Virtual Summit which is free to attend for sports and entertainment rights holders.